Shaw Group Says SEC Probe Into Accounting Practices Ended With No Expected Enforcement Action

The Shaw Group Inc., an engineering and construction services company, said Friday a probe into the company’s accounting practices by the Securities and Exchange Commission has ended. via Canadian Business Magazine Read full story

Irish drug maker Merrion Pharmaceuticals PLC withdraws planned IPO

NEW YORK : Merrion Pharmaceuticals PLC withdrew its initial public offering with the Securities and Exchange Commission on Friday because of “unfavorable market conditions.” The Dublin-based … via International Herald Tribune Read full story

Dubai World raises stake in MGM Mirage

State-owned investment company Dubai World said on Friday it bought 5 million shares of MGM Mirage, the world’s No. via XtraMSN Real Estate Read full story

EST Announces Agreement with the Convertible Debenture Holders

“This change in the repayment schedule of the convertible debentures will provide the company with needed relief as we continue to pursue opportunities to raise additional capital.” Barry S. Howe, President and CEO, stated: “This change in the repayment schedule of the convertible debentures will provide the company with needed relief as we continue […]

Probes add to banks’ worries in mortgage crisis

“This is one of those situations, kind of like the Internet bubble, where everybody and his brother guessed wrong” The nation’s largest banks are losing billions of dollars from the mortgage debacle. via The Press Democrat Read full story

December 28, 2007, issue

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STMicroelectronics, Intel Delay Launch of Joint Venture

Hit by turmoil in the debt capital markets, STMicroelectronics , Intel and Francisco Partners agreed on Wednesday to extend the deadline to launch Numonyx, a flash-memory joint venture between the three … via PC World Read full story

SST Updates Status of the Filing of its Financial Reports With the SEC

SUNNYVALE, Calif., Dec. 26 /PRNewswire-FirstCall/ — SST , a leader in flash memory technology, announced today that it plans to file its delinquent periodic reports with the Securities and Exchange Commission … via Earth Times Read full story

ACA Capital Cedes to Regulators

Topix SEC News The bond insurance unit of ACA Capital Holdings Inc. has agreed to turn over substantial control to Maryland insurance regulators, the company said in a Securities and Exchange Commission filing late Wednesday. via WTOP Read full story

Silicon Storage to file late SEC reports by Jan. 15

Topix SEC News Silicon Storage Technology Inc., the Sunnyvale, Calif., producer of flash-memory technology, said it would file its delinquent periodic reports with the Securities and Exchange Commission by Jan. via Market Watch Read full story

InfoUSA Forms Investigation Committee

Database provider infoUSA Inc. said Wednesday it formed a committee for internal investigation and related litigation in response to a shareholder lawsuit and SEC investigation into the company. via International Business Times Read full story

December 27, 2007, issue

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December 26, 2007, issue

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U.S. Bancorp Reports Impact of Visa Litigation and Money Market Fund Actions

Topix SEC News As a result of recent guidance from the Security and Exchange Commission accounting staff, U.S. Bancorp and other similarly situated banks are required to recognize the fair value of a contingent obligation for … via PR-inside.com Read full story

Cummins Recommends Rejection of Below Market Mini-Tender Offer from TRC Capital Corp.

Topix SEC News Cummins Inc. has been notified of an unsolicited mini-tender offer by TRC Capital Corp. via Layover Read full story

Muzak Holdings LLC and Muzak LLC Announce Transition to Web Based Disclosures for 2008

Muzak Holdings LLC and Muzak LLC are considered “voluntary filers” under the current rules and regulations of the Securities and Exchange Commission. via PR-inside.com Read full story

SEC posts a link to CEO pay

Topix SEC News“Gone are the complicated data expeditions that forced investors to hunt through financial statements” The Securities and Exchange Commission, expanding its push to make corporate compensation more transparent to investors, posted a link on its Web site that reveals how much companies pay their top executives. via Philly.com Read full story

IRS takes aim at FedEx

Topix SEC News FedEx Corp. has disclosed that it has received an IRS challenge to its business model for contracting with independent drivers for the company’s FedEx Ground division. via Buffalo News Read full story

AmBev Announces Its Intent to Make a Voluntary Offer to Purchase Any…

Topix SEC News Companhia de Bebidas das Americas - AmBev announced today that its board of directors has approved a plan to make a voluntary offer to purchase any and all Class A shares and Class B shares ) of its subsidiary … via Earth Times Read full story

GSK Pulls Backing from Failed Targacept Drug Candidate

“Targacept has no current plans for further development of TC-2696.” GlaxoSmithKline has ceased its support for a drug candidate being developed by Targacept that recently failed in a clinical trial, Targacept disclosed in a regulatory filing with the Securities and Exchange … via Local Tech Wire Read full story

A look at the SEC’s new executive compensation tables

“Gone are the complicated data expeditions that forced investors to hunt through financial statements. The result is quicker and better analysis, and better-informed shareholders.” Posted Dec 22nd 2007 3:10PM by Zac Bissonnette Filed under: Management , Internet The Securities and Exchange Commission has unveiled a new internet tool, the Executive Pay Finder , to […]

MPC Corporation Files Amendment to Its Annual Report

“We are pleased with the progress that MPC has made with these recent announcements” The purpose of this amendment was to update the company’s consolidated financial statements and include the disclosures of the following subsequent events: -0- 1. The company’s October 1, 2007 acquisition of … via PR-inside.com Read full story

Lucent agrees to pay fines for China dealings

Alcatel-Lucent has agreed to pay $2.5 million in fines to resolve allegations that it provided Chinese government officials with free trips to Disneyland and other tourist attractions. via Infoworld Read full story

SEC reportedly investigating Washington Mutual

“After spending a month and a half investigating these allegations, we can say with confidence that there has been no systematic effort by WaMu to inflate home appraisals” The Securities and Exchange Commission reportedly is investigating how Washington Mutual Inc., the nation’s largest savings and loan, handled mortgages that were possibly based on inflated […]

Continue reading “Justice Department probing Diebold”

Categories: Breaking News Diebold Inc ., which has been under investigation since 2006 by the Securities and Exchange Commission, said today the Department of Justice has launched a parallel probe. via The Plain Dealer Read full story

SEC rolls out executive comp database

Topix SEC News“Gone are the complicated data expeditions that forced investors to hunt through financial statements, footnotes, proxy statements, and other disclosure documents to figure out how much a company pays its top executives” Investors have a new online tool to compare what the CEOs of Merrill Lynch and Morgan Stanley made last year, […]

McAfee, Inc. Announces Completion of Financial Restatement and…

McAfee, Inc. today announced that it has filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended December 31, 2006, as well as Quarterly Reports on Form 10-Q for the … via The South Mississippi Sun Herald Read full story

EV Energy Partners Chief Executive Walker Buys 10,000 Shares for $31.33 to $32 Apiece

Topix SEC News The chief executive of oil and gas producer EV Energy Partners LP bought 10,000 shares of common stock, according to a Securities and Exchange Commission filing Thursday. via Canadian Business Magazine Read full story

December 20, 2007, issue

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December 21, 2007, issue

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SEC sues local lawyer in Refco case

Topix SEC News A Chicago lawyer was accused Tuesday of violating federal securities laws by misleading investors who lost more than $1 billion in the financial downfall of the commodities brokerage powerhouse Refco Inc. via Chicago Business Read full story

SEC Seeks Testimony From Birmingham Mayor On Bond Deals

Topix SEC News Federal investigators are trying to force Birmingham Mayor Larry Langford to give sworn testimony about Jefferson County bond deals. via NBC13.com Read full story

Evraz Commences Tender Offer to Acquire Claymont Steel

The tender offer is being made pursuant to a previously announced definitive agreement among Evraz, Titan Acquisition Sub, Inc. via Earth Times Read full story

GAO report blasts SEC oversight of self-regulatory organizations

Topix SEC News“The Securities and Exchange Commission also needs to review the internal audits that the Self-Regulatory Organizations put together to make sure they’re credible and even-handed” The Government Accountability Office on Dec. 17 released a report indicating that the SEC is not adequately exercising its oversight of industry self-regulatory organizations, adding to the […]

Mayer Brown Partner Charged With Securities Fraud in Connection With Refco Deal

Topix SEC News“It is not a crime to have a client who commits a crime” A Mayer Brown partner was indicted Tuesday on charges he helped Refco Inc. conceal from investors that a company owned by former CEO Phillip R. Bennett owed Refco hundreds of millions of dollars. via Legal Times Read full story

December 18, 2007, issue

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December 19, 2007, issue

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Goodrich Petroleum Vice Chairman and CEO Walter G. Goodrich Buys 10,000 Shares

The vice chairman and chief executive of Goodrich Petroleum Corp., an oil and gas explorer and producer, bought 10,000 shares of common stock, according to a Securities and Exchange Commission filing Wednesday. via Canadian Business Magazine Read full story

Morgenson: When the SEC turns a blind eye to market mischief

Topix SEC News“They’ve got a computer system that can’t search for the data the securities industry is reporting - that’s like working with one hand tied behind your back” NEW YORK : It’s no secret that the Securities and Exchange Commission is terrifically understaffed and wildly underfunded compared with the populous and wealthy Wall […]

IAMGOLD Declares Seventh Consecutive Annual Dividend

“We are pleased to maintain IAMGOLD’s Dividend Policy with the seventh consecutive annual dividend to shareholders” IAMGOLD Corporation is pleased to announce an annual dividend payment of USD$0.06 per share payable on January 11, 2008 to shareholders of record as of the close of trading on December 24, 2007. via Earth Times Read full […]

Lawyer says SEC ok of Oriental Peninsula IPO a violation

“The law requires SEC to protect the investing public from fraudulent and worthless securities by rejecting overtures from erring companies. This mandate is not fulfilled by simply requiring full disclosure once any wrongdoing is established” The Securities and Exchange Commission has violated its own mandate by allowing the listing of Oriental Peninsula Resources Group […]

SEC sues ex-Morgan Stanley financial advisers

Securities regulators sued two former financial advisers at Morgan Stanley on Friday for defrauding at least 50 mutual fund companies and their shareholders. via Reuters Read full story

December 17, 2007, issue

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SEC obtains restraining order, claiming Orlando firm was pyramid scheme preying on Hispanics

A federal court granted a temporary restraining order to freeze an Orlando company’s assets and halt what Securities and Exchange Commission officials described as a ‘massive pyramid scheme that preys on the Hispanic community.’The civil action, filed by the SEC last week but unsealed in the U.S. District Court for the Middle District of […]

Big Investor Tells Sun-Times Group To Cut More, Pay Execs In Stock

Topix SEC News“Sun-Times should henceforth compensate the company’s chairman, chief executive officer, and directors of the board entirely in equity compensation (i.e., no cash compensation)” CHICAGO Saying it was “extremely disappointed” with the collapse of the price of Sun-Times Media Group shares this year, the company’s second-largest shareholder on Tuesday demanded even deeper cost […]

Guident to upgrade SEC’s intel systems

Topix SEC News Guident Technologies, an integrator of business intelligence and data-warehousing solutions, has received a $3.1 million contract for technical support services from the Securities and Exchange Commission. via Washington Technology Read full story

Small Firms to Get More Time to Meet Audit Rule

“I intend to propose to the commission that we authorize a further one-year delay in implementation for small businesses” The Securities and Exchange Commission will give small companies until 2009 to comply with a Sarbanes-Oxley Act provision requiring that auditors assess whether firms have sufficient controls to prevent … via Washington Post Read full […]

Lampert raises stake in AutoNation

Billionaire investor Edward Lampert has increased his stake in AutoNation to 31.9 percent, according to a Securities and Exchange Commission filing Thursday. via Money Read full story

December 14, 2007, issue

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Wachovia: CDOuch

Topix SEC News Wachovia is preparing for more pain. In an filing with the Securities and Exchange Commission on Wednesday, the financial-services company reported it now estimates that its loan-loss provision for the fourth … via Forbes.com Read full story

Exxon Mobil VP Stephen Pryor Exercises Options for 90,000 Shares, Sells 71,800 Shares

A vice president of Exxon Mobil Corp., the world’s largest publicly traded oil company, exercised options for 90,000 shares of common stock, according to a Securities and Exchange Commission filing. via Canadian Business Magazine Read full story

Mortgage mayhem to mar Q4 at Wachovia, Bank of America

Wachovia Corp. is doubling its expected loan-loss provision for the fourth quarter to $1 billion in excess of charge-offs. The bank had previously estimated a loan-loss provision of between $500 million and … via Sacramento Business Journal Read full story

Former United Rentals CFO admits to false filings

Topix SEC News“United Rentals has been fully cooperating with the SEC and the United States Attorney’s Office in these matters and will continue to do so” The former chief financial officer of United Rentals, Inc. pleaded guilty Wednesday to making false filings with regulators that enabled him to make a profit of $11 million, […]

Shaw Group Chairman, CEO Sells Shares

Topix SEC News The chairman, chief executive and president of engineering and construction services firm Shaw Group Inc. via International Business Times Read full story

December 12, 2007, issue

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December 13, 2007, issue

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Infineon Files Annual Report with the SEC

The report is available at the SEC’s website, www.sec.gov, as well as at the “Investor” section of the company’s website at www.infineon.com. Shareholders of the company may receive a hard copy of the report … via PR-inside.com Read full story

Western Digital Director Sells Shares

Topix SEC News A director of hard drive maker Western Digital Corp. sold 204,240 shares of common stock, according to a Securities and Exchange Commission filing Friday. via Forbes Read full story

Bitstream Announces $2.5 Million Stock Repurchase Program

Topix SEC News “Bitstream’s share repurchase program reaffirms our confidence and optimism in the long-term future of the Company. via PR-inside.com Read full story

SEC investigates false Alliance Data Systems rumors

Topix SEC News By VICTOR GODINEZ / The Dallas Morning News vgodinez@dallasnews.com The Securities and Exchange Commission is investigating the source of false rumors and suspicious stock trading around the buyout of … via Quick Read full story

Wyndham Worldwide Director James E. Buckman Exercises Options for and Sells 70,183 Shares

A director of hotel operator Wyndham Worldwide Corp. exercised options for 70,183 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Monday. via Canadian Business Magazine Read full story

December 11, 2007, issue

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December 10, 2007, issue

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NAVTEQ Announces Early Termination of HSR Waiting Period in Connection With Acquisition by Nokia

NAVTEQ Corporation , a leading global provider of digital map data for vehicle navigation and location-based solutions, announced today that it has been granted early termination of the mandatory waiting period … via SymbianOne Read full story

Lewis bullish on Bear Stearns stake

Billionaire Joseph Lewis has raised his stake in The Bear Stearns Cos. Inc. to 8.01%, according to a filing with the Securities and Exchange Commission. via InvestmentNews Read full story

6 Arrested Over Plots to Pump Up Share Prices

Topix SEC News“This case illustrates the commission’s ability to work together with criminal authorities in creative ways to uncover fraudulent schemes and to protect our markets” What began with an undercover F.B.I. agent’s posing as a corrupt hedge fund manager led to the indictments of six people yesterday on charges of fraud in the […]

AIG reports drop in value on book of credit swaps

The market value of American International Group Inc.’s book of credit default swaps dropped by about $1.05 billion to $1.15 billion between Sept. via Business Insurance Read full story

Undersecretary of Commerce Cynthia A. Glassman to Deliver Keynote…

Topix SEC News“We are honored to have Secretary Glassman share her insights to ways in which management, investors and other stakeholders can use extra-financial information to improve capital market transparency” Secretary Glassman will deliver her remarks, titled Divining Rod: Making Intangibles Tangible, on Friday, December 14, at 3:00 p.m. in the 47th Floor Conference […]

December 6, 2007, issue

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December 7, 2007, issue

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Journal Register Co. CEO getting $675,000 salary, perks

Topix SEC News Newspaper publisher Journal Register Co. said its new chairman and chief executive will receive an annual salary of $675,000 plus cash bonuses, stock options and other perks, according to a regulatory filing. via Hartford Business Read full story

Novell postpones earnings release

Topix SEC News“We’re cautiously optimistic about the results here” Submitted by Paul McNamara on Wed, 12/05/2007 - 9:46am. This is never a good thing. via NetworkWorld Read full story

Novamerican Steel Inc. Announces Its Intent to Terminate Its SEC Reporting Obligations

Topix SEC News In connection with the previously announced acquisition on November 15, 2007 by Symmetry Holdings Inc. via Canada NewsWire Read full story

The XBRL files - the standard that’s causing such a stir

Topix SEC News“There hasn’t been enough content available to make it valuable to develop the tools on a large scale. Now investors are hearing about it and expecting it, so they’re getting ready. I think they’re waiting for the final step to get it to market.” Is XBRL is ready for prime time? This […]

11 a.m.: Hancock Fabrics Gets Extension

Topix SEC News Hancock Fabrics has been granted an extension to file its plan for reorganization with the U.S. Bankruptcy Court for the District of Delaware. via WAPT.com Read full story

December 4, 2007, issue

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December 5, 2007, issue

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Isis CEO Exercises Options

Topix SEC News The chief executive and president of drug developer Isis Pharmaceuticals Inc. exercised options for 59,851 shares of common stock under a prearranged trading plan, according to a Securities and Exchange … via International Business Times Read full story

Prachai guilty in shares case

Topix SEC News TPI founder cannot hold a cabinet post POST REPORTERS Matchimathipataya party leader Prachai Leophairatana has lost the chance of taking any cabinet post after the election. via Bangkok Post Read full story

Investors clash with cops as stocks dip

Topix SEC News“Some investors have genuinely panicked with the downtrend, but there is nothing to be worried because during a market correction it usually goes down” DHAKA: Hundreds of investors took to the street in front of Dhaka Stock Exchange building clashing with police yesterday after the key index had lost 83 points on […]

Trial may feature Buffett

“The evidence is beyond dispute that he knew about the transaction. He certainly didn’t stop it.” Federal prosecutors are expected to call Warren Buffett, the chief executive of Berkshire Hathaway, to testify in the trial of five senior insurance executives accused of helping the American International … via News Observer Read full story

SEC sues Maxim Integrated for stock option backdating scheme

Topix SEC News The Securities and Exchange Commission said Tuesday it filed civil charges against Maxim Integrated Products Inc. via Market Watch Read full story

December 3, 2007, issue

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Investment Management Industry News

Topix SEC News I. Securities And Exchange Commission Actions: On November 15, 2007 the SEC voted unanimously to propose rule changes under the Securities Act of 1933 that are intended to improve disclosure provided to mutual … via Intellectual Property Read full story

New York Times Publisher Sells Shares

The chairman and publisher of the New York Times Co., owner of The New York Times, The Boston Globe and the International Herald Tribune, sold 4,500 shares of common stock, according to filings with the … via International Business Times Read full story

Randgold Resources announces Global Offer of 6,000,000 New Shares

RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD RANDGOLD RESOURCES ANNOUNCES GLOBAL OFFER OF 6,000,000 NEW SHARES London, … via Earth Times Read full story

NAVTEQ Announces Special Meeting of Stockholders

Company: NAVTEQ Industry: Wireless / Navigation, Location-based Services , Geographic Data, Location Technology Location: Chicago, IL, United States of America NAVTEQ Corporation , a leading global provider of … via Directions Magazine Read full story

SEC to file criminal charges vs. PIPC execs

SEC to file criminal charges vs. PIPC execs The Securities and Exchange Commission on Monday said it is filing criminal charges against 23 individuals with the DOJ, in connection with the Performance Investment … via ABS-CBN News Read full story

November 30, 2007, issue

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Corel Increases Focus on Digital Media Market

Topix SEC News“Corel’s Digital Media portfolio is the broadest in the industry, covering all of the major digital media segments including imaging, video editing, and DVD authoring” Corel Corporation , a leading developer of graphics, productivity and digital media software, today announced that it is increasing its focus on the Digital Media market by […]

Two men accused of Riverstone fraud

Topix SEC News Two former officers of Riverstone Networks Inc. have been indicted on charges they helped book fraudulent revenues at the now-bankrupt company, a Cabletron Systems spinoff that made networking hardware. via UnionLeader.com Read full story

Cathay Merchant Group Announces Plan to Delist From the American Stock Commission

Topix SEC News HONG KONG, Nov. 29 /CNW/ — Cathay Merchant Group Inc. announced today that it intends to voluntarily delist its common shares from the American Stock Exchange . via Canada NewsWire Read full story

Little Rock Attorney Named Head of Arkansas Securities Department

Topix SEC News A former staff attorney for the Securities and Exchange Commission will now serve as commissioner of Arkansas’ securities department. via KAIT-TV Jonesboro Read full story

All Business: Sec chief’s legacy on line

“We have heard a lot of talk from Chris Cox in the past, and now we get to see how he walks” Even when Securities and Exchange Commission Chairman Christopher Cox is blocking shareholder rights, he wants investors to think he’s their advocate. via Myrtle Beach Online Read full story