Gautam Adani and his nephew Sagar Adani are contesting a US securities fraud lawsuit, arguing lack of jurisdiction and failure to establish wrongdoing in a 2021 bond sale.
A US judge has granted Gautam Adani's request for a hearing to dismiss a US Securities and Exchange Commission (SEC) fraud case, with Adani's legal team arguing the case lacks jurisdiction and credible evidence.
Gautam Adani and Sagar Adani are seeking the dismissal of a US Securities and Exchange Commission (SEC) securities fraud lawsuit, arguing that the case represents an impermissible extraterritorial application of US law and fails for lack of personal jurisdiction.
US short-seller Hindenburg Research has said it is not under investigation by the US SEC as it rubbished alleged links of its founder to a hedge fund for preparing reports targeting companies.
Lawyers of embattled Goldman Sachs met with representatives of the US market regulator SEC this week, a move seen as an attempt to settle the lawsuit against the banking major, according to reports.
Infosys said it is also "aware of a securities class action lawsuit" that has been filed against the company in a federal court in the US, based on the generalised allegations in the anonymous complaints. The company intends to defend itself vigorously in such a lawsuit.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
US-based Schall Law Firm has said it will file a class action lawsuit against Infosys Ltd to recover losses suffered by investors in the wake of allegations of "unethical practices" at the Indian IT major. In October, Infosys had informed the stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management.
Infosys on Tuesday said the US Securities and Exchange Commission has concluded the investigation into the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator. In October last year, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.
Goldman Sachs could end up paying $1 billion (670 million pounds) fine if it wants to settle the criminal lawsuit with the US regulator Securities and Exchange Commission, according to a media report.
Jailed hedge-fund founder Raj Rajaratnam has agreed to pay $1.45 million to settle a civil lawsuit filed by US regulator SEC against him and India-born former Goldman Sachs director Rajat Gupta for their roles in one of the largest insider-trading schemes in US history.
Infosys on Friday said a class action lawsuit filed against the company and some of its employees in the US district court has been dismissed. The move comes after whistleblower complaints alleging certain unethical practices by the top management emerged in October last year.
Infosys pointed out that it is not uncommon for plaintiffs' lawyers to issue press releases or other media communications asking potential plaintiffs to contact them in order to apply for lead plaintiff status in an existing lawsuit. In October, Infosys had informed the stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management.
Income from operations stood at Rs 1,375.3 crore (Rs 13.75 billion) during the January-March quarter of 2011.
Goldman Sachs is seeking to avoid a fraud charge as part of its settlement with the United States market regulator SEC, which had charged the investment banking major with defrauding investors by misrepresenting facts, a media report said.
The United States-based business and consumer database provider infoGROUP has removed its Indian-origin founder Vinod Gupta from the post of its chairman, following a shareholder lawsuit against the company and a probe by the market regulator SEC.
The company said the committee, headed by independent director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co, and PricewaterhouseCoopers, found that the "allegations are substantially without merit".
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
Gambling debt, stock tip lead to $1 million settlement but no charges for golfer Phil Mickelson.
Former iGate CEO Phaneesh Murthy, who was sacked by the US-based IT services firm for failing to disclose his relationship with a subordinate in May this year, has slapped the company with a law suit.
On October 24, the NSE sought clarification from the IT major on the whistleblowers' allegations and why the company had not disclosed the same to the exchanges.
Nandan Nilekani said the co-founders have served the company "selflessly" and remain committed to the long-term success of Infosys.
With support from other farmer organisations and activists, including RSS-affiliate Bharatiya Kisan Sangh, the potato growers have not only sought compensation but also called for boycott of the food giant's products.
A summary of sports events and sports persons, who made news on Tuesday
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