SEC

ArtistDirect to Quit SEC Reporting, Delist Shares From Nasdaq

Authored by Mark Hefflinger on August 6, 2009 - 6:41am.
Santa Monica, Calif. - ArtistDirect, a provider of music and movie news, as well as streaming music and anti-piracy services, announced on Thursday that it intends to suspend its SEC reporting obligations, and delist its common stock from the Nasdaq.
tags: Deals | Piracy | Music | SEC | ArtistDirect |

Judge Tosses SEC Insider Trading Suit Against Mark Cuban

Authored by Mark Hefflinger on July 17, 2009 - 8:40am.
Dallas - A federal judge on Friday dismissed an insider trading lawsuit filed by the Securities and Exchange Commission (SEC) against billionaire Mark Cuban, an Internet entrepreneur and owner of the Dallas Mavericks NBA team, the Associated Press reported. The SEC had alleged that Cuban benefitted from inside information before selling shares in Internet search engine Mamma.com back in 2004.
tags: Law | Lawsuits | Mark Cuban | SEC |

SEC Continues Probe Into Apple Statements on CEO Jobs' Health

Authored by Mark Hefflinger on July 8, 2009 - 9:40am.
Washington - The SEC is continuing to investigate Apple's (NASD: AAPL) disclosures about CEO Steve Jobs' medical condition, Bloomberg News reported, some seven months after the probe is thought to have begun.
tags: Law | Policy | Apple | SEC | Steve Jobs |

Take-Two Pays $3M to Settle Stock Options Backdating Probe

Authored by Mark Hefflinger on April 1, 2009 - 9:56am.
Washington - The U.S. Securities and Exchange Commission (SEC) on Wednesday said that video game publisher Take-Two Interactive (NASD: TTWO), makers of the "Grand Theft Auto" franchise, has paid $3 million to settle SEC charges that it backdated stock options. The SEC said that former Take-Two chairman and CEO Ryan Brant and other former executives took part in a scheme that granted backdates stock options more than 100 times between 1997 and 2003.

Report: SEC Investigating Apple Over Jobs' Medical Disclosures

Authored by Mark Hefflinger on January 21, 2009 - 9:03am.

Washington - The Securities and Exchange Commission (SEC) is reportedly investigating whether Apple (NASD: AAPL) misled investors with its disclosures about CEO Steve Jobs' faltering health, according to Bloomberg, which cited "a person familiar with the matter." Both Apple and the SEC declined to comment on the story for Bloomberg; the SEC is only required to disclose an investigation if it decides to take enforcement action.

tags: Law | Apple | SEC | Steve Jobs |

Facing SEC Charges, CEO of National Lampoon Resigns

Authored by Mark Hefflinger on December 18, 2008 - 11:03am.

Los Angeles - Following charges of securities fraud filed by the SEC this week against the company and its chief executive, National Lampoon announced on Thursday that president and CEO Daniel Laikin has resigned.

SEC Charges National Lampoon, CEO With Securities Fraud

Authored by Mark Hefflinger on December 17, 2008 - 9:24am.

Los Angeles - The Securities and Exchange Commission (SEC) has charged comedy purveyor National Lampoon, its CEO and other parties with "engaging in three separate fraudulent schemes to manipulate the market for publicly traded securities through the payment of prearranged kickbacks."

Mark Cuban: The Government’s Claims Of Insider Trading Are False

Authored by Mark Cuban on November 18, 2008 - 5:38am.

UPDATED. I wish I could say more, but I will have to leave it to this, and let the judicial process do its job.
November 17, 2008
RE: SEC Civil Action in the United States District for the Northern District of Texas, Dallas Division.
Mark Cuban today responded to a civil complaint filed by the United States Securities and Exchange Commission in the United States District for the Northern District of Texas, Dallas Division. In its complaint, the Commission charges that Mr. Cuban engaged in violations of the federal securities laws in connection with transactions in the securities of Mamma.com Inc.

SEC Charges Mark Cuban With Insider Trading

Authored by Mark Hefflinger on November 17, 2008 - 11:13am.

Washington - The Securities and Exchange Commission (SEC) on Monday charged Mark Cuban, owner of the Dallas Mavericks NBA team and founder of HDNet, with insider trading over shares in a company called Mamma.com he sold in 2004. The SEC says Cuban improperly sold his 600,000 shares in Mamma.com after being informed by its CEO in a confidential manner of a transaction that would devalue his shares.

tags: Law | Mark Cuban | SEC | Mamma.com |

CBS to Stream SEC College Football Games for Free

Authored by Mark Hefflinger on September 10, 2008 - 12:20pm.

New York - CBS (NYSE: CBS) announced on Wednesday that it will begin offering free live streaming of SEC college football games this year, the Associated Press reported. CBSSports.com will offer 17 SEC games, including the conference championship.

tags: Sports | Video | TV | NCAA | CBS | SEC |

XM Seeking $120 Million to Support Deal with MLB

Authored by Mark Hefflinger on May 27, 2008 - 8:33am.

Washington - XM Satellite Radio (NASD: XMSR), the satellite radio provider awaiting government approval to merge with rival Sirius, disclosed in a filing with the Securities and Exchange Commission (SEC) that it must come up with $120 million in financial commitments to avoid an "adverse effect" on its financial position.

Eight Former AOL Time Warner Executives Face SEC Charges

Authored by Mark Hefflinger on May 20, 2008 - 6:56am.

New York - Eight former executives from the company then known as AOL Time Warner (NYSE: TWX) have been charged by the Securities and Exchange Commission (SEC) with inflating the company's online ad revenues by more than $1 billion between 2000-2002. Four of the executives -- including former controller James MacGuidwin -- have agreed to settle civil charges by paying the SEC about $8 million in fines.

tags: Advertising | Law | AOL | SEC | Time Warner |

SEC Ends Stock Options Probe of THQ; No Charges Filed

Authored by Mark Hefflinger on February 27, 2008 - 9:31am.

Agoura Hills, Calif. - Video game publisher THQ (NASD: THQI) announced on Wednesday that it has received word that the SEC has completed its investigation into the company's stock options granting practices, and will not recommend any action against the company.

tags: Games | Law | THQ | SEC | Backdating |

EA Off Hook in SEC Options Probe; Closing Chicago Office

Authored by Mark Hefflinger on November 7, 2007 - 11:34am.

Redwood City, Calif. - Video game developer and publisher Electronic Arts (NASD: ERTS) announced on Wednesday that the Securities and Exchange Commission (SEC) has terminated its enquiry into the company's stock options grant practices, and recommended no enforcement action.

Report: Apple CEO Jobs Subpoenaed for Testimony in Backdating Suit

Authored by Mark Hefflinger on September 20, 2007 - 8:28am.

Washington - Apple CEO Steve Jobs has been subpoenaed by the SEC to give a deposition in a lawsuit related to the company's stock options granting practices, Bloomberg reported on Thursday, citing two people familiar with the matter.

SEC May File Charges Against Game Publisher Take-Two

Authored by Mark Hefflinger on August 16, 2007 - 12:28pm.

New York - Video game publisher Take-Two Interactive has announced that the company received notice from the Securities and Exchange Commission (SEC) that it may file charges in relation to Take-Two's stock option granting practices.

SEC Upgrades CNET Stock Options Probe to "Formal Investigation"

Authored by Mark Hefflinger on August 2, 2007 - 10:29am.

San Francisco - An informal inquiry into stock options granting practices at technology publisher CNET Networks has been upgraded to a formal investigation, the company said in its second quarter earnings statement.

SEC Launches Probe of Forrester Stock Options

Authored by Mark Hefflinger on June 21, 2007 - 12:02pm.

Cambridge, Mass. - Forrester Research, the Cambridge, Mass.-based, technology market research firm, has received notification from the Securities and Exchange Commission (SEC) that it intends to launch an investigation relating to the company's stock option granting practices.

Supreme Court Rejects Dot-com Investors' Claims Against Investment Banks

Authored by Mark Hefflinger on June 19, 2007 - 10:47am.

San Francisco - The U.S. Supreme Court yesterday ruled against investors who filed an antitrust lawsuit against a number of investment banks, which alleged inflated charges and prices collected during the dot-com boom of the late 1990s, CNET News.com reported.

Take-Two CFO Resigns; Company Regains Nasdaq Compliance

Authored by Mark Hefflinger on April 10, 2007 - 1:27pm.

New York - Days after a group of dissident shareholders ousted the CEO and five of six board members at game publisher Take-Two Interactive, the company's chief financial officer has resigned.

tags: Games | Moves | Take-Two | SEC | Backdating |