Facebook to answer lawsuit over IPO misinformation. Facebook, still reeling from the fiascos of its IPO, is now facing another shareholder lawsuit. The world's biggest social networking company's executives, namely founder and CEO Mark Zuckerberg, its board and other officers for the damage sustained.
Legal & Regulatory
Verizon Seeking Full Control
Verizon and Vodafone discussing future of Verizon Wireless. Verizon Communications Inc, which is now deep in a battle for control with Vodafone Group Plc, has proposed to dissolve their relationship through the wireless joint venture.
Nasdaq Partners with SharesPost
Nasdaq and SharesPost to create new market for privately held securities. A new marketplace for shares trading of unlisted companies would be rolled out as a joint venture between Nasdaq and SharesPost Inc.
Proxy Firms Move to Oust Chairman and Directors at HP
ISS and Glass Lane calling for heads to roll in Autonomy takeover loss. Two proxy advisers have called out to fellow Hewlett Packard shareholders to move for the ouster of several board directors.
Shareholder Demands Dell to Open Books
Southeastern Asset Management has formally filed notice for Dell to open its books for review. (Photo : Reuters) The image is Michael Dell making a presentation to shareholders.
Latest News
Corvex and Related lose court fight to restrain stock offer by Commonwealth REIT. Despite the objections by investors in CommonWealth REIT, the sale of thirty million shares valued at US$19 per share would proceed as planned.
China Fishery Group offered to purchase Copeinca, thus moving the Peruvian firm to seek proper financial advice.
MetroPCS faces pressure from P. Schoenfeld Asset Management, which owns about 2% of its shares, to update the merger documents with the Deustche Telekom AG's unit T-Mobile USA to reflect T-Mobile's earnings.
Kodak gets flexible financing and reorganization plans as it prepares to come out of bankruptcy. The bankrupt photography icon Eastman Kodak Inc was allowed to amend its financing deal in order to become more financially flexible as it girds to exit Chapter 11 bankruptcy protection.
Wynn faces another suit for the cash donation to University. The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.
Macy's is filing charge against J.C. Penney and Martha Steward over their plans to launch Martha boutiques at Penney Stores.
Credit Suisse and Ambac Financial are reportedly agreeing on the settlement of mortgage-backed securities.
Macy's sues JC Penney and Martha Stewart for deal. JC Penney CEO Ron Johnson knew that if he signed the deal with Martha Stewart, he would be putting the company in jeopardy by creating a conflict with Macy's, its corporate rival.
For national security concerns, CNOOC cannot use Gulf assets. China's largest offshore oil and gas producer CNOOC has been disallowed to control oilfields in the Gulf of Mexico.
