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Corporate Crime News Headlines

Chiesi admits "crossing the line" in Galleon case

A key defendant in the Galleon hedge fund insider trading case pleaded guilty to criminal charges on Wednesday, tearfully admitting to "crossing the line" by leaking information on stocks including IBM and Advanced Micro Devices.

U.S. class action securities lawsuits on the rise

The number of class action securities lawsuits filed in U.S. courts rose in the past six months and there was a big spike last year in litigation over merger disclosures, according to a study released on Thursday.

Ernst files to move Lehman suit to federal court

Accounting firm Ernst & Young LLP is moving a lawsuit by New York's attorney general over its audits of Lehman Brothers Holdings Inc to federal court from state court, saying the case depends on questions of federal auditing standards.

U.S. charges offshore firm with bond fraud

Provident Capital Indemnity Ltd, its president and outside auditor are facing U.S. criminal charges for allegedly misleading investors in a life insurance settlement bond scheme.

Ex-lawyer 15th to admit charges in Galleon case

A former attorney with a prominent law firm pleaded guilty on Friday to his role in the Galleon hedge fund insider trading case, saying he was paid $32,500 in cash from profits made by trader Zvi Goffer, a main defendant in a probe of two intertwining networks.

Wendel to appeal $2 million fine over St Gobain

French investment fund Wendel said it would appeal a 1.5 million euro ($2 million) fine from market watchdog AMF for insufficient disclosure over its stake-building in glassmaker Saint-Gobain in 2007.

France poised to launch probe in Renault case

A French state prosecutor was on Friday poised to launch an inquiry into industrial espionage at Renault after the carmaker filed a legal complaint alleging information was passed to a foreign power.

Judge allows AU Optronics chief to leave U.S.

The CEO of one of the world's top liquid crystal display manufacturers will be allowed to travel outside the United States for the first time since criminal price-fixing charges restricted his movements, a U.S. judge ruled on Friday.

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