SEC Charges NASDAQ for Botching the Facebook IPO

  The S.E.C. charged NASDAQ with a securities laws violation resulting from its poor decision-making during the initial public offering and secondary trading of Facebook shares. In response to the charges, NASDAQ has agreed to settle and pay a $10 million penalty, which represents the largest fine filed against the market exchange ...

Livestrong No More: Nike to Stop Making Livestrong Products

  Nike announced that it will cease making and selling products for the Livestrong Foundation at the end of this year.   The move to halt production of the Livestrong brand comes as no surprise, especially considering the clothing giant terminated its contract in the fall of 2012 with controversial cyclist Lance Armstrong ...

What Recession? Dow Closes at Record High

  U.S. stocks surged today as investors digested solid economic data that appeared to put the financial and housing crises in the nation’s rearview mirror.    The Dow Jones Industrial Average closed the day at a record high of 15,409, after gaining more than 100 points, or 0.7 percent. The S&P 500 also ...

SEC Charges Institutional Shareholder Services with Breaching Clients’ Voting Rights

  The Securities and Exchange Commission charged a Rockville, Maryland-based proxy adviser Shareholder Service for failing to protect the confidential proxy voting information of clients participating in several proxy contests.    An SEC investigation found that an employee of the serve provided a proxy solicitor ...

SEC Charges Dallas-Based Trader with Front Running

  The Securities and Exchange Commission announced fraud charges and an immediate asset freeze against a trader at a Dallas-area investment advisory firm who illegally profited by placing personal trades before executing large order trades for clients that had a strong opportunity to increase the stock’s price.  ...

Not as bad as we thought: Obamacare Premiums in California Lower than Expected

     Health insurance providers in the state of California will charge an average of $304 a month for the silver-level coverage (the least expensive plan) in state-based exchanges starting next year. That said, many residents will pay far less than this figure for coverage.    Rates for Obamacare ...

Another One Bites the Dust: IRS Official Lois Lerner Placed on Administrative Leave

    The official of the Internal Revenue Service responsible for overseeing the unit that targeted conservative groups for a number of years starting in the spring of 2010 has been placed on administrative leave, according to a statement released by both the Republican and Democratic parties.    Mrs. ...

Ben Bernake Warns against Raising Interest Rates too soon

    Federal Reserve Chairman Ben Bernanke warned the American public of the risks associated with raising interest rates too soon. Mr. Bernanke also urged the U.S. Congress to do more to help the economy.    The United States’ economy is doing far better than it was a year ago, but Bernanke wants ...

Not So Sunny: SEC Charges City of South Miami with Fraud

  The Securities and Exchange Commission today charged South Miami with defrauding bond investors regarding the tax-exempt financing eligibility of a mixed-use paring and retail structure being constructed in its downtown commercial area.  The SEC investigation found that the city of approximately 11,000 residents located ...

Apple Facing the Heat: Tech Giant Questioned over Tax Havens

    Apple executives defended the tech giant’s tax strategy on Capitol hill today, claiming that the corporation pays one of the highest effective tax rates of any major company in the United States.    A Senate panel called the hearing to investigate what committee leader’s claims was the ...

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