U.S. securities regulators on Friday charged Daniel Ruettiger -- the inspiration behind the 1993 movie Rudy -- and 12 others with running a scheme to deceive investors into buying stock in Ruettiger's sports drink company.
The Securities and Exchange Commission (SEC) on Friday sued six former executives of Fannie Mae and Freddie Mac with securities fraud, alleging that they knew and approved of misleading statements related to the companies' holdings of subprime loans.
Securities regulators sued former top executives at Fannie Mae and Freddie Mac on Friday, saying they misled investors over exposure to risky mortgages.
Playboy model Megan Dills will miss a photo shoot Saturday after suffering injuries at an Indiana Hoosiers college basketball game in Bloomington. Fans stormed the court after the Hoosiers hoisted a three-point buzzer-beater to win the game. Dills got caught up in the rush and injured her ankle.
Playboy model Megan Dills will miss her next photo shoot because of ankle injuries she suffered after Indiana Hoosiers basketball fans stormed the court after their team's upset win over the Kentucky Wildcats in Bloomington, Ind. on Saturday.
"We believe the district court committed legal error by announcing a new and unprecedented standard" for approving settlements, Robert Khuzami, head of the Securities and Exchange Commission's enforcement division, said in a statement Thursday.
Enforcement officials at the Securities and Exchange Commission will reportedly recommend that the agency appeal a federal judge's November decision rejecting a $285 million settlement with Citigroup.
Avon Products Inc. is beginning its search for a new chief executive officer to replace Andrea Jung, who will remain with the company as a chairman at the beginning of the New Year.
Jive was up as much as 38 percent during the trading day on the NASDAQ Stock Market, reaching an intraday high of $16.50. The company, based in Palo Alto, Ca., said in a statement it sold 13.4 million shares at $12 each after originally planning to sell 11.7 million shares at $8 to $10 each.
The top pre-market NASDAQ stock market gainers are: Urban Outfitters, Diamond Foods, Netflix, Arena Pharma, DryShips and Clearwire. The top pre-market NASDAQ stock market losers are: ProShares UltraPro Short and Amazon.
The turbulent stock market may throw up obstacles in front of two initial public offerings on tap, including on-line game site Zynga as well as workplace social networking developer Jive Software.
Wal-Mart began an internal investigation within the last seven months to determine whether some overseas incidents violated U.S. federal law.
Smithfield Foods, the McDonald's McRib pork supplier that has come under fire from The Humane Society of the United States, said Thursday its progress toward conversion from gestation crates for its pigs was on track to be completed by 2017.
Former MF Global chief Jon Corzine apologized to those harmed by the brokerage firm's collapse, but said he didn't directly manage customer funds and doesn't know where the missing money is.
The SEC on Thursday charged Wachovia Bank N.A. -- now Wells Fargo Bank following a merger in March 2010 -- with fraudulently engaging in secret arrangements with bidding agents to improperly win business from municipalities and guarantee itself profits in the reinvestment of municipal bond proceeds.
Outside consultants, accountants, regulators, and people who were at the company “before I arrived” all took actions that undermined the stability of the company, Corzine is set to tell the House Committee on Agriculture today, according to his written comments. Not responsible, though as Corzine acknowledges are “one of the recurrent themes in the media” was the firm’s relatively high ratio of leverage or its exposure to European sovereign debt.
To hear it from one side, private equity and hedge fund managers are under a veritable siege: under attack from politicians, regulators, an ornery market and uneasy clients. But the hedge fund managers themselves seem to be saying all is good in Greenwich.
Insider trading by federal lawmakers is unlawful, but "distinct legal and factual issues" may arise and make the investigation or prosecutions difficult to proceed. However, any statutory changes on insider trading should be "carefully calibrated" to ensure they do not narrow current law, a top Securities and Exchange Commission official warned Tuesday.
Raj Rajaratnam, 54, the founder of the Galleon Group and a hedge fund multimillionaire, began his 11-year prison sentence at a former military base, near the town of Ayer, Massachusetts.
The Big 12 will send eight of its teams to bowl games this season. Conference leaders Kansas State and Oklahoma State will play in the Cotton Bowl and Fiesta Bowl, respectively.
10 out of 12 Big Ten teams will compete in bowl games, and two schools will compete in BCS bowl games, battling leaders from the Pac 12 and ACC in the Rose Bowl and Sugar Bowl.
Nine SEC schools will go bowling in the NCAA's BCS postseason, including six teams from the AP Top 25. Two SEC teams, LSU and Alabama, will also battle for the national championship title.
