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Under Armour’s strong numbers drowned out by investigation
A strong quarter from Under Armour is being overshadowed by federal investigations into the company’s accounting practices. The probe, first reported by The Wall Street Journal, is seeking information that would reveal whether the sports gear maker shifted sales from one quarter to another to make its financial standing appear healthier. Under Armour Inc. told […]
Under Armour’s strong numbers drowned out by investigation
A strong quarter from Under Armour is being overshadowed by federal investigations into the company’s accounting practices. The probe, first reported by The Wall Street Journal, is seeking information that would reveal whether the sports gear maker shifted sales from one quarter to another to make its financial standing appear healthier. Under Armour Inc. told […]
Chiquita loses suit to stop SEC release of records
Chiquita Brands International Inc.’s bid to stop the U.S. Securities and Exchange Commission from releasing documents on payments to a Colombian terrorist group was dismissed by a federal judge.
Commentary: SEC proposes rules to disclose pay ratios
As King Solomon tried to do justice between two harlots claiming the baby, the SEC took its statutory requirement and cut its impact in half.
Judge throws out SEC oil company foreign-payment rule
U.S. District Judge John Bates in Washington Tuesday ruled in favor of groups that argued the regulation would hobble companies’ competitiveness by forcing them to publicly disclose information that could be used to influence political events in other countries.
Alabama debt debacle may cost JPMorgan $1.6B
JPMorgan Chase & Co. may see as much as $1.6 billion go down an Alabama sewer.
U.S. wants cash, not confession
So routinely do people and firms resolve SEC cases “without admitting or denying” wrongdoing, as the agency’s boilerplate phrase goes, that even the guiltiest of fraudsters who confess in criminal court to the most audacious of crimes never come clean with the SEC, which has its own, civil cases to resolve.
Pity the toothless terriers of the SEC
Up until that moment, I had no idea just how weak the SEC really is. If these are the handcuffs the SEC has to deal with on a big case like this, then it’s no wonder its enforcement division’s performance over the years has been so feeble.
Former Pasta Co. exec to pay $661,000 on fraud claims
A former officer of American Italian Pasta Co. in Kansas City will pay more than $660,000 in penalties on claims that he violated securities laws.
Bank of America judge bars testimony of news reports
Bank of America Corp. suffered a setback in its defense to civil charges that it misled investors after a judge ruled that it may not introduce at a trial testimony about media reports predicting it would pay bonuses. The U.S. Securities and Exchange Commission sued the Charlotte, N.C.-based lender on Aug. 3 claiming it misled […]
Galleon SEC judge wants to try case in five months
The judge presiding over the U.S. Securities and Exchange Commission’s lawsuit against Galleon Management, whose founder Raj Rajaratnam faces criminal charges, said he wants the civil case ready for trial within five months. U.S. District Judge Jed Rakoff in New York on Monday scheduled a conference in the case for Nov. 4. He also ordered […]
Derivatives bill’s loophole may exempt firms, Gensler says
Legislation by Rep. Barney Frank to tighten derivatives regulation contains an exemption that may let most financial firms escape new collateral and disclosure rules, the head of the Commodity Futures Trading Commission said. The provision is among several loopholes in the draft legislation, officials of the CFTC and Securities and Exchange Commission said in testimony […]
Latest Opinion Digests
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