After four years stuck in bankruptcy limbo, Sears Holdings and its creditors have reached a settlement with former Chief Executive and majority shareholder Eddie Lampert and other investors, clearing ...
Tag: Corporate crime
Ex-Advisor Sentenced to 22 Years in Prison for Ponzi Scheme
A former financial advisor was sentenced to nearly 22 years in prison for operating a Ponzi scheme that swindled $9.3 million from investors, according to the U.S. Attorney’s Office for the Northern D...
Sandy Hook Families Accuse Alex Jones of Diverting Funds From Infowars Parent Company
Families of Sandy Hook victims who are suing Alex Jones for defamation accused the conspiracy theorist of siphoning significant amounts of money from Infowars’ parent company before he put the busines...
Alex Jones Puts Infowars’ Parent Company Into Bankruptcy During Texas Defamation Trial
Alex Jones put the company behind his Infowars conspiracy site into bankruptcy on Friday as the broadcast host stands trial in Texas to determine how much he owes the families of Sandy Hook victims fo...
U.S. Bank workers opened fake accounts to meet sales goals, feds say
NEW YORK — For more than a decade, U.S. Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau ...
3M Earplugs Fight Stems From Self-Made Legal Battle
A long-running legal battle over allegedly defective earplugs made by 3M arose after the company initiated a separate dispute against a smaller competitor, court documents showed. 3M’s effort to prote...
Fastly Cloud Computing Traffic Bumped Higher. That Should Boost the Stock.
Text size These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the vi...
Endo Moving Toward Bankruptcy Filing Without Opioid Settlement Deal
Endo International PLC is moving toward a bankruptcy filing, potentially setting off intense conflicts with state and local governments that have sued the pharmaceuticals company for its alleged role ...
NIO conducts own probe into Grizzly short-seller report, retains forensic accounting firm
NIO Inc. said Monday that it has formed a committee to look into recent allegations that the China-based electric vehicle maker is using an affiliate battery maker to boost financial results. Short-se...
Vanguard to Pay Massachusetts Investors Millions Over Target-Date Fund Tax Hit
Vanguard will pay $6.25 million as part of settlement with Massachusetts’ state securities regulator over allegations that changes it made to certain target-date funds stuck investors with unexpectedl...
Crypto Took Wall Street on a Wild Ride. Now It’s Ending in Tears.
Cory Klippsten is a big fan of Bitcoin. But his affinity for cryptocurrencies ends there. Klippsten, head of a company called Swan Bitcoin, sees a growing minefield of scams, fraud, and risky products...
Vanguard Sues UHNW Advisor Over Alleged Client Solicitation
The Vanguard Group is suing one of its former ultrahigh-net-worth financial advisors for allegedly violating a one-year nonsolicitation agreement he signed while an employee. The financial services gi...
Ken Griffin Moving Citadel From Chicago to Miami Following Crime Complaints
Billionaire Ken Griffin is relocating his hedge-fund firm Citadel from Chicago to Miami, the third major employer to announce the move of a corporate headquarters from Illinois in the past two months....
Twitter Stock Is Downgraded. Analyst Needs Just One Sentence to Explain Why.
Text size Twitter stock is downgraded given uncertainty over the company’s pending acquisition by Elon Musk. Justin Sullivan/Getty Images Twitter stock received another downgrade on Friday, fuel...