Union Asset Management Holding AG will be the lead plaintiff in the forthcoming class action lawsuit filed against computer-maker, Dell. Motley Rice, a South Carolina law firm, is representing the union. If you are keeping score, Lerach Coughlin did submit a petition for lead counsel but was rejected... The complaint against Dell alleges that several of the company's C-suiters manipulated earnings and enriched themselves by selling off stock at inflated prices before the fall.

Further detail on the Dell litigation can be found here. Also, check out this article which provides many details on allegations against Dell that appear in in the Lerach complaint.

Labels: Bill Lerach, class action, Dell, Motley Rice, Ontario Securities Commission

Both U.S. and Canadian regulators have filed charges against a group of former Nortel executives over illegal activities that included lying to investors and reporting false numbers to the SEC. Canada's Ontario Securities Commission and the U.S. SEC are alleging that former Nortel execs conspired to "fix" earnings between 2000 and 2004.

Amongst the group facing charges are former chief executive Frank Dunn, former finance chief Douglas Beatty, and former controller Michael Gollogly. Former controller MaryAnne Pahapill also faces charges from the SEC. Further details on the Nortel charges here, via the FT.

-- MDT

Labels: accounting fraud, Douglas Beatty, Frank Dunn, homeland security, MaryAnne Pahapill, Michael Gollogly, Nortel, Ontario Securities Commission, securities