Vaso Active: Settles SEC Fraud Charges
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Drug maker Vaso Active Pharmaceuticals  Inc. VAPH.PK on Thursday said U.S. regulators approved a  settlement with the company and its former chief executive over  allegedly misleading disclosures in public documents.
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A San Francisco investment adviser for mutual funds will pay $30 million to settle charges that it secretly allowed favored clients to conduct frequent short-term trading, in violation of the funds&#39; rules and in exchange for extra fees, regulators said
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Royal Dutch/Shell has agreed to pay $120 million to settle fraud charges with the S.E.C. involving overstated oil reserves, the U.S. securities regulator said today.
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WASHINGTON, Feb. 6  â The insurance company RenaissanceRe Holdings agreed on Tuesday to pay a $15 million fine to settle civil charges of securities fraud over what federal regulators said was a sham transaction created to burnish the companyâs earnings by smoothing their volatility.
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NEWARK, NJ -- Three companies have agreed to pay $50 million to settle charges they defrauded investors in Pimco Funds by not disclosing a market timing arrangement.
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(InfoWorld) - Brocade Communications Systems has agreed to pay a $7 million penalty to settle charges of stock-option backdating fraud. The payment will settle a civil action brought by the U.S. Securities and Exchange Commission and comes with a permanent injunction against the storage networking company not to break various accounting laws. The SEC's action, announced Thursday, signals that the agency will take strong action against companies accused of backdating fraud. Scores of high-tech companies have either come under federal investigation or started their own probes related to the practice. Former Brocade executives granted tens of millions of stock options to employees and falsified the dates of those grants so that they could hide the cost of the options from shareholders, the SEC charged. Brocade did not admit to or deny the charges. The settlement concludes the SEC action, and Brocade said it does not expect the Department of Justice to take any action against it. "Falsifying compensation expenses is no less misleading to investors than falsifying revenue," said Linda Chatman Thomsen, director of the SEC's enforcement division, in a statement. Brocade's former chairman, president and CEO, Gregory Reyes, as well as former human resources chief Stephanie Jensen and former Chief Financial Officer Antonio Canova, were charged last July with fraud and other securities law violations. "The SEC will use all the weapons in our arsenal, including significant corporate penalties, to protect investors and combat fraudulent stock option backdating," SEC chairman Christopher Cox said in a statement. Backdating is legal and was a common practice in the fevered high-tech job market of the late 1990s as vendors competed for talent with attractive financial packages. But some of the biggest names in IT, including Apple, Broadcom, and McAfee, have been hit by concerns over how they carried it out.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!
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Blog: One of the many companies defending itself against a patent lawsuit filed by Visto has settled for an undisclosed amount.
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Denver-based Qwest Communications International Inc. (NYSE: Q) has agreed to a pay $250 million fine to settle a wide-ranging fraud investigation by the US Securities and Exchange Commission (SEC), the Associated Press reported Thursday.
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Global grocery retailer Ahold NV has agreed to a settlement of civil fraud charges over an alleged $1 billion overstatement of earnings in a deal with U.S. regulators that does not fine the company.
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Global grocery retailer Ahold NV has agreed to a settlement of civil fraud charges over an alleged $1 billion overstatement of earnings in a deal with US regulators that does not fine the company.
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Invesco Funds Group (IFG) and affiliate AIM are to pay a total of $450m (Â£254m) to settle an improper trading probe. The UK&#39;s Amvescap, which owns both firms, said the two would pay $140m in civil penalties
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Edward Jones &amp; Co., a brokerage firm that caters to individual investors, agreed to pay $75 million to settle regulators&#39; allegations that it didn&#39;t disclose hidden marketing deals with mutual funds.
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By Therese Poletti, San Jose Mercury News, Calif.  SJ-0523-Hewlett-Packard-settles-with-SEC   Hewlett-Packard settles with SEC   Therese Poletti  San Jose  Mercury News, Calif.
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Qwest agreed Thursday to settle with the Securities and Exchange Commission over charges that the company fraudulently booked $3.8 billion in revenue over nearly three years.
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The PIMCO mutual fund group's  adviser and two affiliates will pay $11.6 million to settle  U.S. Securities and Exchange Commission charges involving  improper "revenue-sharing" payments to brokers, said a source  familiar with the case on Wednesday.
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Invesco Funds Group Inc. and two other mutual-fund units of Amvescap LLC will pay $375 million to settle Securities and Exchange Commission charges of helping favored investors engage in improper mutual-fund trading.
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Ahold NV , the Dutch grocery operator, and three former top executives have agreed to settle U.S. securities fraud charges related to massive overbooking of profits, the company and U.S. regulators said on Wednesday.