A Texas federal judge said he would table a former bank executive's bid for a more expansive injunction against a Federal Deposit Insurance Corp. enforcement action, deferring to pending Fifth Circuit appeals that revolve around the constitutionality of the agency and its use of in-house courts.
A New York federal judge ordered an asset freeze on an allegedly unregistered broker-dealer accused by the U.S. Securities and Exchange Commission of running a $35 million fraud scheme involving the sale of companies' shares ahead of their initial public offerings.
Investors in Chinese grocery vendor Missfresh Ltd. say they were not told until after they invested $2 million ahead of the company's 2021 initial public offering that the discount they were promised was actually a sham requiring them to pay more than the shares' debut value.
An asset manager has accused JPMorgan Securities and JPMorgan Chase of purposely overvaluing the shares of an online grocer and concealing certain information related to the company's internal controls ahead of its initial public offering.
The U.S. Securities and Exchange Commission on Thursday fined JPMorgan Chase $4 million to settle allegations the company violated the Exchange Act by inadvertently deleting millions of business communications from 2018 after a vendor incorrectly coded the records.