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DiNapoli pushes bank high-risk disclosures
ALBANY — New York’s comptroller is urging two major banks to tell shareholders which employees are capable of exposing them to major losses because of their portfolios and bonus incentives. Comptroller Thomas DiNapoli, trustee of New York’s $173 billion pension fund, filed shareholder resolutions at Wells Fargo and Bank of America. With fund investments in […]
HSBC says sorry as it takes $700 million hit
LONDON — HSBC PLC apologized to shareholders Monday as it disclosed a $700 million charge to cover the cost of U.S. penalties for lapses including its failure to enforce money-laundering controls in Mexico. The provision was announced as Europe’s biggest bank reported an 11 percent advance in pretax profit in the first half of the […]
U.S. Supreme Court nixes shareholders’ 10-b claim
A service management company cannot be liable under Securities and Exchange Commission Rule 10b-5 for alleged securities violations of the mutual funds it sponsors, the U.S. Supreme Court has ruled. The case was a class action brought by shareholders ...
Nasdaq, ICE seek support for bid for NYSE
NEW YORK CITY — Nasdaq and IntercontinentalExchange are reaching out directly to the shareholders of the parent company of the New York Stock Exchange in its unsolicited bid to acquire the exchange owner.
Shareholders seen as next round in battle for NYSE
NEW YORK CITY — A battle for control of the New York Stock Exchange moved into dueling appeals to shareholders Monday, a day after a rival bidder complained that its $11.3 billion bid was rejected without discussion.
Does a whiff of a problem equal securities fraud?
During lively oral arguments in a case that could have implications far beyond the securities fraud sphere, the justices of the U.S. Supreme Court tried to determine just what constitutes material information that should be disclosed to shareholders.
SEC looking into trades of private shares
SAN FRANCISCO (AP) — The Securities and Exchange Commission is looking into the booming trade in the privately held shares of popular social networking behemoths such as Facebook, LinkedIn, Twitter and Zynga, according to reports in The New York Times and elsewhere.
J&J shareholders reject ‘say on pay’
Shareholders of health care giant Johnson & Johnson on Thursday narrowly rejected a proposal to give themselves a “say on pay” of top executives, but the vote results may not be final.
JPMorgan Chase could increase dividend
NEW YORK — JPMorgan Chase & Co. CEO Jamie Dimon said Wednesday that his bank is open to boosting its dividend but first wants to see more improvement in the economy and more clarity about proposed financial reforms.
JPMorgan Chase CEO: Bank could raise dividend
NEW YORK CITY — JPMorgan Chase & Co.’s CEO Jamie Dimon said the bank could hike its dividend if economic conditions improve and potential regulatory reform is settled.
Case Digests
- Fourth Department – Breach of contract: Hausrath Landscape Maintenance Inc. v. Caravan Facilities Management LLC
- Second Circuit – New York Child Victim’s Act: Kane v. Mount Pleasant CSD; Coe v. Eastport Union Free School
- NYS Advisory Committee on Judicial Ethics – Appointing law clerk: Opinion 22-149
- Fourth Department – Bill of particulars: Harris v. Rome Memorial Hospital, et al.
- NYS Advisory Committee on Judicial Ethics – Accusations against co-judge: Opinion 22-148
- Fourth Department – Medicaid: Washington Center for Rehabilitation and Nursing Home v. NYS Dept. of Health
- Fourth Department – Criminal possession of a firearm: People v. Wilson
- Fourth Department – Promoting prostitution: People v. Watts
- Second Circuit – Class certification: Arkansas Teachers Retirement System V. Goldman Sachs Group Inc.
- Fourth Department – Show-up identification: People v. Waggoner
- Fourth Department – Association: Victory Village Tenants Assoc. v. Evergreen Communities, et al.
- Second Circuit – In personam jurisdiction: Kaplan v. Bank Saderat PLC
Law News
- Greenlight Networks selects Buffalo-based attorney as general counsel
- Barclay Damon hires attorney Matt Smith
- Rochester man sues Geneseo police, alleging false arrest, assault
- The Daily Record’s Power List for Intellectual Property 2023
- NY ethics panel says judges can join NRA
- Harter Secrest & Emery LLP names partner-in-charge of Buffalo office
- Banned professor sues SUNY Fredonia leaders
- Hochul signs law requiring unemployment insurance information from employers
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