http://securities.law360.com/ The Newswire for Legal Professionals Copyright 2010 Portfolio Media, Inc. en-US http://securities.law360.com/images/headings/logo.gif http://securities.law360.com/ http://securities.law360.com/articles/156033 A federal judge has ruled that a putative class action accusing CBS Corp. and its principals of failing to take a timely impairment charge to the network's goodwill did not adequately plead fraud, while giving the plaintiffs leave to replead. http://securities.law360.com/articles/156033 Wed, 17 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/156017 A group of 21 Republicans in the U.S. House of Representatives has sent a letter to the U.S. Securities and Exchange Commission in the latest expression of displeasure with the agency’s new disclosure requirements relating to climate change for public companies. http://securities.law360.com/articles/156017 Wed, 17 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155928 Criticizing the plaintiffs' original counsel for failing to take a more active role in the litigation, a Delaware judge on Tuesday appointed new lead counsel for a putative class of Revlon Inc. shareholders in a lawsuit over a takeover by the company's controlling shareholder. http://securities.law360.com/articles/155928 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155740 The U.S. Securities and Exchange Commission has reached a nearly $1 million consent judgment against Alfred Teo for alleged insider trading involving Musicland Stores Corp. and C-Cube Microsystems Inc., though Teo continues to dispute the agency's claims of false filing. http://securities.law360.com/articles/155740 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155755 Lloyd's of London underwriters must pay the defense costs of accused Ponzi schemer Robert Allen Stanford at least for now, a federal appeals court has ruled, upholding a lower court decision. http://securities.law360.com/articles/155755 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155909 A federal judge on Tuesday trimmed two Citigroup Inc. workers' Employee Retirement Income Security Act claims in a putative class action accusing the managing committees of the bank's 401(k) plan of failing to act in the plan's best interests. http://securities.law360.com/articles/155909 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155723 Relatives of jailed Ponzi mastermind Bernard Madoff have asked a bankruptcy court to throw out claims against them, saying they too were victims of his scheming. http://securities.law360.com/articles/155723 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/154619 Shareholders and former executives of KLA-Tencor Corp. have reached a settlement totaling approximately $42.6 million that, if approved, would bring a derivative suit over options backdating to a close. http://securities.law360.com/articles/154619 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155533 The city of Phoenix has sued Ambac Financial Group Inc., MBIA Inc. and Financial Guaranty Insurance Co. for allegedly charging it bond insurance premiums higher than those charged to corporate bond issuers who presented more default risk, a discrimination the city claims has cost it more than $20 million. http://securities.law360.com/articles/155533 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155700 The former CEO and chairman of InfoGroup Inc. has agreed to pay more than $7.3 million to settle U.S. Securities and Exchange Commission allegations that he improperly used the company as a piggy bank. http://securities.law360.com/articles/155700 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155610 Former CDR Financial Products Inc. employee Douglas Alan Goldberg has pled guilty to participating in bid-rigging and fraud conspiracies related to contracts for the investment of municipal bond proceeds, making him the third ex-CDR worker to cop a plea as a result of an ongoing federal probe into the municipal bond industry. http://securities.law360.com/articles/155610 Tue, 16 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155580 A man prosecutors accused of helping himself to millions of dollars solicited from investors who thought their money would go toward oil and gas well drilling projects has been sentenced to 17.5 years in federal prison and ordered to cough up $17.7 million in restitution. http://securities.law360.com/articles/155580 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155526 Senate Banking Committee chairman Christopher Dodd, D-Conn., unveiled long-delayed financial reform legislation Monday, aiming to streamline bank supervision in the U.S., subject credit rating agencies to new rules and create a warning system for financial institutions that grow too big to fail. http://securities.law360.com/articles/155526 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155431 Intel Corp. and current and former company board members are seeking to dismiss a shareholder derivative suit claiming they failed to stop anti-competitive business practices that led to billions in fines and settlements. http://securities.law360.com/articles/155431 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155560 A former McGuireWoods LLP attorney who made millions of dollars by improperly selling unregistered shares of newly merged public companies pled guilty Monday to conspiracy and securities fraud charges. http://securities.law360.com/articles/155560 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155588 The former head of a New York community bank faces up to 260 years in prison and nearly $8 million in fines on charges that he defrauded the bank out of millions of dollars and attempted to scam the Troubled Asset Relief Program out of over $11 million. http://securities.law360.com/articles/155588 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/154970 Freshfields Bruckhaus Deringer LLP has beefed up its litigation team in the United States by adding three parters, including a former federal prosecutor, to its dispute resolution practice, bolstering the firm's ability to assist clients with cross-border matters that involve a U.S. component. http://securities.law360.com/articles/154970 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155444 Conseco Inc. has asked a judge to throw out a union pension fund's proposed securities class action over a restatement of several years' financial results, saying the restatement had barely any effect on the company's stock price. http://securities.law360.com/articles/155444 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155436 A former senior client adviser with Macquarie Equities Ltd. has pled guilty in an Australian court to charges of manipulating the share price of defunct electronic payment company Bill Express Ltd. http://securities.law360.com/articles/155436 Mon, 15 Mar 2010 00:00:00 -0500 http://securities.law360.com/articles/155392 A former co-CEO of mobile software company Mobile Ready Entertainment Corp. has followed his colleague in reaching a settlement in principle with the U.S. Securities and Exchange Commission over allegations of insider trading and participating in a pump-and-dump stock scheme. http://securities.law360.com/articles/155392 Mon, 15 Mar 2010 00:00:00 -0500