Daily Archives: September 16, 2008, 11:09 pm

Credit Suisse Latest Bank to Settle ARS Probe

NY AG Andrew Cuomo’s office announced today that Credit Suisse Group will buy back $548 million in auction-rate securities and pay a $15 million fine to settle the AG’s probe concerning the company. The AP reports that with this settlement, Credit Suisse joins institutions including Fidelity Investments, Merrill Lynch, Deutsche Bank, Goldman Sachs Group, UBS AG, Citigroup Inc., Morgan Stanley,…

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Securities Regulators, Litigators, Professors Among “Directorship 100”

The “Directorship 100,” which seeks to identify the 100 “Most Influential People on Corporate Governance and in the Boardroom,” was announced yesterday, and it includes many individuals who are key figures in the securities litigation and enforcement arena, as well.  The list includes: Christopher Cox, Chairman of the SEC Mary Shapiro, CEO of FINRA Robert S. Bennett, partner, Skadden, Arps…

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Natural Health Trends Announces SEC Does Not Intend to Recommend Enforcement Action Against Company

Natural Health Trends Corp. (BHIP) announced yesterday that the SEC has completed its investigation of the company and others and notified the company by letter dated September 12, 2008, that it does not intend to recommend any enforcement action against the company itself. On September 4, 2008, the SEC announced that it filed settled enforcement actions alleging securities fraud against…

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SEC, US Attorney’s Office in Missouri Bring Actions Against American Italian Pasta Co. Executives

Yesterday, the SEC charged American Italian Pasta Company (AIPC) and certain former senior executives with engaging in a fraudulent accounting scheme to artificially increase the company’s stock price and mislead investors about the company’s earnings. Named in the complaint are former CEO Timothy S. Webster, former CFO Warren B. Schmidgall, and former executive VP of Corporate Development and Strategy David…

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