December 22, 2011 |
Investors cheered when they learned French police had arrested accused Southern California con man Bruce Fred Friedman in the seaside resort town of Cannes. But more than one year later, Friedman remains in France and the hundreds of investors in his alleged Ponzi scheme — authorities pegged it at $228 million — are beginning to wonder whether they'll ever see him in a U.S. courtroom. For more than 13 months, Friedman has opposed efforts to stand trial in Los Angeles. French courts have authorized his extradition to the United States, but the matter now awaits a final decision by the French government, said Thom Mrozek, a spokesman for the U.S. attorney's office in Los Angeles.
March 27, 2003 |
Lockheed Martin Corp. won dismissal of an investor suit that claimed the company inflated its share price by assuring investors in 1998 that it was "on track" for a 10% increase in per-share earnings, only to lower those forecasts later. U.S. District Judge Mariana Pfaelzer in Los Angeles said investors failed to prove that company officials knew the statements were false when they made them.
December 19, 2008 |
Enron Corp. investors today will begin receiving their share of $7.2 billion recovered in settlements with the failed energy trader's lenders, auditors and directors. The University of California, the lead plaintiff in the case, will initially start distributing nearly $5 billion to about 200,000 investors. Eligible buyers of Enron's common stock will receive about 20% of their allowed losses.
August 25, 2009 |
Stung by punishing losses in the bear market, some individual investors are souring on traditional buy-and-hold investing in favor of aggressive trading aimed at scoring big gains. Trading at online brokerages has soared in recent months as investors have tried to capitalize on rising securities markets. But individual investors increasingly are embracing strategies that carry outsized risks. In some cases, for example, investors have ventured into a relatively new type of investment product designed to magnify the movement of the underlying markets.
October 17, 2007 |
Financial advisors and wealthy investors believe corporate boards act in the best interests of executives rather than shareholders, according to a survey released Tuesday. Most of those surveyed last month by FTI Consulting Inc. also said they believed that corporate governance practices had improved since the passage of the post-Enron Sarbanes-Oxley corporate reform law in 2002.
September 28, 2009 |
Investors are just not sure where the economy is headed, so the stock market may be in limbo for a while. After stocks stumbled last week on disappointing reports on housing and manufacturing, investors are concerned that the economy's rebound will be slower than originally thought. They may cool their buying and even resort to more selling until they are more certain that the strength of the recovery warrants extending the nearly seven-month-long advance in stocks. "The significant advance that the market has had . . . has left some people with an itchy trigger finger," said Jim McDonald, chief investment strategist at Northern Trust Corp.
February 6, 2008 |
The Securities and Exchange Commission has formed an office to quickly distribute financial penalties to wronged investors after government watchdogs said the agency wasn't returning the money quickly enough. The SEC's Office of Collections and Distributions will pay out more than $5 billion the regulator has recovered from securities law violators, the agency said Tuesday. Since gaining the authority under the Sarbanes-Oxley law to distribute financial penalties, the commission has given more than $3.5 billion to investors.
December 10, 1997 |
Internet start-up Elemental Software Inc. has raised $8 million from a group of investors, including Microsoft Corp., which took a "significant" but undisclosed stake in the Carlsbad-based company. Elemental's flagship Drumbeat software allows business professionals to create sophisticated Internet Web pages without programming knowledge, President Peter Hirshberg said. Other investors included Japan's CSK Corp.
March 12, 2008 |
Charter Communications Inc. announced Tuesday, just as the firm's chief financial officer announced his resignation, that outside parties have asked about investing in the company. Potential investors approached controlling shareholder Paul Allen, the cable and telephone service provider said in a U.S. Securities and Exchange Commission filing. Allen, who co-founded Microsoft Corp., gave the investors information about Charter that has not been publicly released, according to the filing, which didn't indicate how much the parties might invest.
December 9, 2001
"Club Sticks Together Through Thick, Thin" [Money Make-Over, Nov. 27] is a perfect example of what happened to many novice investors over the last couple of years. Seduced by the record-breaking bull market and insufficient knowledge of the true risks, individuals participated like never before in history, only to now be confronted with what may be a once-in-a-generation bear. Having taught a series of investment classes for the Monrovia Adult School for a few years now, I have come to the conclusion that the vast majority of individual investors are ill prepared for the complexities of investing.