June 26, 2013 |
The Securities and Exchange Commission accused a Burbank medical imaging device company and its chief executive of fraud for allegedly misleading investors about the Food and Drug Administration's views of one of its products. In a lawsuit filed Tuesday in federal court in Los Angeles, the SEC said Imaging3 Inc. and its founder and chief executive, Dean Janes, made false statements about the company's chances of gaining FDA approval of a three-dimensional scanner used in medical diagnosis.
June 24, 2012 |
Italian investors who specialize in buying trophy historic properties have acquired one of the best in Los Angeles -- the 84-year-old Fine Arts Building. Sorgente Group of America, which controls the famous Flatiron Building in New York, bought the Fine Arts Building for $28.5 million from Los Angeles attorneys Brian Kabateck and Mark Geragos. “Our acquisitions always have historic and architectural relevance, as our passion and dedication lies within the value of iconic buildings such as the Fine Arts Building,” said Veronica Mainetti, president of Sorgente Group of America.
March 12, 2009 |
Today is the day that people who entrusted their money to Bernard L. Madoff have anxiously awaited. Since the financier allegedly admitted in December to running one of the largest investment frauds in history, victims have clamored for him to be carted off to prison. With Madoff expected to plead guilty today, a federal judge will decide whether the defendant will be led away in handcuffs or allowed to remain at his multimillion-dollar Manhattan apartment pending sentencing later this year.
April 4, 2013 |
The fear and confusion that tormented American investors after the financial crisis struck in 2008 has in many cases given way to cautious optimism and a more disciplined approach to handling money, a survey by Fidelity Investments has found. Investors have stashed more money in retirement plans - until recently, bond funds were the big winners - along with paying down debt, according to the survey from the big mutual-fund company. QUIZ: How much do you know about the stock market?
October 5, 2012 |
Investors sent Wall Street stocks higher early Friday after the federal government reported the U.S. economy added 114,000 jobs in September. The payroll gains were in line with analysts' expectations, but the government also reported that the unemployment rate fell from 8.1% to 7.8%. The Dow Jones industrial average gained 59 points, or 0.4%, to 13,634 shortly after the opening bell. The broader Standard & Poor's 500 index rose 8 points, or 0.5%, to 1,469. The Nasdaq was up 16 points, or 0.5%, to 3,166.
April 10, 2013 |
Investors who lost big when Bernard Madoff's Ponzi scheme unraveled cannot sue federal regulators, despite the government's “regrettable inaction,” a federal appeals court ruled. Madoff victims had sued, arguing that the Securities and Exchange Commission was negligent for failing to uncover the Ponzi scheme even though the regulator received multiple complaints over the years. On Wednesday in New York, the U.S. Court of Appeals for the Second Circuit dismissed those claims, agreeing with a district court that the SEC's actions or inaction are protected under the law. Madoff is currently serving a 150-year prison sentence for his multibillion-dollar Ponzi scheme that came to light in December 2008.