The Louisiana Sheriffs' Pension and Relief Fund sued IBM for its cooperation with the National Security Agency over a spying program that allegedly hurt investors, Bloomberg reported.
Legal & Regulatory
BlackRock insists it complied with Italian disclosure rules on Telecom Italia stake
A report by Bloomberg read that New York-based investment firm BlackRock said it complied with disclosure rules in its Telecom Italia stake after a watchdog said in a newspaper interview that the firm may have not followed rules when it did not report an increase in its stake in the telecommunications firm..
Watchdog tells BlackRock to show its hand before Telecom Italia EGM
BlackRock Inc will have to say on Monday what stake it holds in Italy's biggest telecom operator Telecom Italia, after the Italian market watchdog threatened to fine it for not disclosing an increase.
OTC exchange access now extended to SMEs in China
On Saturday, the Chinese State Council said that it has instructed the China Securities Regulatory Commission to life the approval restrictions on small and medium-sized companies with less than 200 shareholders.
Aereo versus broadcasters could reach US Congress - report
The fight between Pay-television companies and major US broadcasters, and TV over Internet startup Aereo would most likely see intervention from the US government, according to a report on Investors Business Daily today.
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Hospitality Staffing Solutions said it had obtained approval from the court to sell its assets to HS Solutions Corporation. Financial details about the deal were not disclosed.
Judge Katherine Forrest dismissed the lawsuit filed by investors led by two pension funds against UBS, which accused the bank of fraud regarding the latter's risk management practices, Bloomberg said.
According to the South China Morning Post, the growing popularity of the Bitcoin has also led to a boom of sorts in bitcoin software for smartphones, the South China Morning Post reported.
A letter written by state securities regulators asked US Securities and Exchange Commission Chair Mary Jo White not to erode their power to police smaller public offerings, Reuters reported.
A US Bankruptcy Court gave its approval to Savient Pharmaceuticals to sell all substantially all its assets to Crealta Pharmaceuticals, a firm backed by private equity company GTCR.
Intellectual Ventures has settled a lawsuit it brought against chipmaker Altera Corp, according to court filings in litigation against a group of semiconductor companies filed by the firm, which has purchased billions of dollars worth of patents.
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
GLG Partners, a London-based hedge fund, agreed to settle claims that it overvalued the purchase of a mining asset in 2008 in a deal worth about $9 million, Bloomberg reported.
Despite releasing the local assets back to Nokia Oyj, the Delhi High Court clarified that the Finnish company will still be liable to any remaining tax bills from the local mobile phone plant that Microsoft will be acquiring.
