Tuesday, March 9 2010
GOLDMAN SACHS SUED OVER PAY
NEW YORK – Goldman Sachs Group Inc was named as a Defendant in a lawsuit filed by a large union pension fund that accused the investment bank of overpaying its executives. The International Brotherhood of Electric Workers fund filed a lawsuit seeking to recover money for the company on behalf of other shareholders.
CP SHIPS INSIDER-TRADING ACTION SETTLED
TORONTO – Former investors in CP Ships Ltd. are being asked to sign up for a piece of a settlement in class-action lawsuits against the company that was filed after it overstated its profits and faced allegations of illegal insider trading.
DRIVE MAKERS ACCUSED OF PRICE FIXING
WASHINGTON – Several optical disc drive (ODD) players including Hitachi, LG, Samsung, Sony and Toshiba, have been accused of price fixing by a U.S. electronics retailer, which has filed a lawsuit against the companies.
ASIC REACHES FOURTH WESTPOINT SETTLEMENT
SYDNEY – The Australian Securities and Investments Commission (ASIC) has completed the fourth settlement of its Westpoint compensation proceedings against State Trustees Ltd, with the regulator winning federal court approval for a $13.5 million settlement on behalf of investors.
UBS SETTLES ARS CLAIMS
DALLAS – UBS AG has agreed to buy back $200 million of auction-rate securities and pay a $6.64 million fine to settle charges the company-misled investors about the debt's safety.
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