The U.S. Securities and Exchange Commission accused the former CEO of an Arizona-based commercial real estate investment company of attempting to manipulate the price of WeWork Inc. shares prior to its bankruptcy this month, not long after finding out he was under investigation for a separate $35 million misappropriation scheme.
Counsel at Monteverde & Associates PC requested over $5 million in attorney fees after persuading a California federal court to approve a $15 million settlement on behalf of investors claiming optical components maker Oclaro and its executives inflated the company's financial projections ahead of a merger with Lumentum.
A New York judge on Wednesday appointed two institutional investors to lead a proposed shareholder action alleging biopharma company Syneos Health lied about its booming business during the COVID-19 pandemic, saying that the pair's $51 million alleged loss gives them the biggest financial interest in the case.
The U.S. Securities and Exchange Commission filed a suit Thursday accusing a data analytics company and its CEO of filing misleading annual statements and misusing more than $7 million from the company's 2016 initial public offering for payments to his wife, mother-in-law and other related parties.
A trade group for the fixed annuities industry has urged a Massachusetts federal judge to dismiss the U.S. Securities and Exchange Commission's suit accusing an investment adviser of hiding the lucrative upfront commissions he made on his clients' indexed annuities, arguing the agency relies on flawed reading of the Investment Advisers Act and previous, irrelevant enforcement actions.