The U.S. Securities and Exchange Commission said the man behind a fake $750 million bid for Allied Nevada Gold Corp. profited from selling an undisclosed stake in the mining company and has fled the country.
E*Trade Financial Corp.’s next chief executive officer could find the brokerage’s 51 percent discount to net assets isn’t enough to attract a buyer any time soon, as mortgages from the housing bubble impede a potential sale.
Charles Schwab Corp. wouldn’t pay more under a revised accord to resolve shareholder lawsuits over losses in its YieldPlus mutual fund than under a $235 million settlement announced in May, a lawyer for investors said.
OptionsXpress Holdings Inc. investors filed three lawsuits challenging Charles Schwab Corp. ’s plan to buy the retail options brokerage for about $1 billion in stock, claiming the board failed to get the best possible price.
Citadel LLC, the biggest shareholder of E*Trade Financial Corp., said the online brokerage’s decision to hire Morgan Stanley isn’t sufficient in addressing plans for a strategic review and called again for a special meeting.