Court fines, bars former Lantronix executive for fraud
A federal judge has fined Steven V. Cotton, former chief financial officer and chief operating officer of Irvine-based Lantronix Inc., for inflating the company’s revenues. Cotton agreed to disgorge...
View ArticleFormer Nicholas aide’s claims reinstated
SANTA ANA — Reversing an earlier order, an Orange County judge on Thursday reinstated claims of retaliation and sexual harassment against a company owned by Broadcom billionaire Henry T. Nicholas....
View ArticleEmulex sues Broadcom, alleging ‘campaign of lies’
Emulex sued Broadcom again today, escalating the legal battle between the two Orange County tech giants. This time, Emulex is alleging that Broadcom engaged in a campaign of lies to prevent it from...
View ArticleState names names, seeks unpaid sales taxes
Four Orange County businesses have joined the list of the state’s biggest sales tax delinquents. The state Board of Equalization said 28 new entries appear on its quarterly list of the 250 businesses...
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Former Broadcom lawyer gets immunity
Is the government’s options-backdating case against William Ruehle, the former CFO of Broadcom, getting weaker? The Register’s Rachanee Srisavasdi reports that a federal judge ruled yesterday that...
View ArticleNewport man pays $1.2 million to settle SEC lawsuit
John E. Brake of Newport Beach agreed to pay $1.2 million to settle charges by the Securities and Exchange Commission that he defrauded investors in his company, Pinnacle West LLC. The SEC said...
View ArticleBroadcom cases tossed
A huge victory for the Broadcom team today. A federal judge tossed the cases of Broadcom’s former chief financial officer, William Ruehle, and dismissed charges against Henry T. Nicholas III, the...
View ArticleSEC sues Orange developer for fraud
The Securities and Exchange Commission sued Michael J. Bowen, Orange-based Eagle Development Enterprises Inc. and several affiliates, for fraud, the agency said today. The SEC claims he raised $28...
View ArticleBroadcom settles backdating suit for $160.5 million
Broadcom Corp. will pay $160.5 million to settle a class-action lawsuit brought by investors who claimed the Irvine chipmaker wrongfully used accounting dates to inflate the value of its stock. The...
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For sale: pieces of the MedCap wreckage
Humidor in MedCap office Tustin lender Medical Capital Holdings allegedly lost hundreds of millions of dollars for investors before the government shut it down last summer. Meanwhile, however, its...
View ArticleNicholas cleared of federal drug charges
As anticipated, a federal judge has dropped drug charges against Broadcom co-founder Henry T. Nicholas III. The ruling comes just a month after U.S. District Judge Cormac Carney dropped securities...
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O.C. firm wins $12.4 million from Yahoo
A subsidiary of Newport Beach-based Acacia Research Corp. was awarded $12.4 million in a patent infringement suit against Yahoo Inc. The judgment stems from a suit filed by Acacia’s Internet...
View ArticleO.C. stock board founder pleads guilty to fraud
Matthew Brown, founder of Orange County stock board InvestorsHub.com, pleaded guilty today to four counts of stock fraud and money laundering. He faces up to 20 years in prison and a $500,000 fine....
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SEC sues Newport Beach money manager for fraud
The Securities and Exchange Commission sued Newport Beach investment adviser Gary R. Headding and his firm Envision Direct LLC for fraud Monday. The SEC alleges that Headding, 41, of Newport Beach,...
View ArticleSEC shuts down Turkish investment, claims it’s a Ponzi
The Securities and Exchange Commission on Tuesday shut down USA Retirement Management Services and sued its owners for fraud. The SEC alleges that USARMS, which had offices in Irvine, Los Angeles and...
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Feds launch criminal probe of Medical Capital
Federal prosecutors have opened a criminal investigation into the top executives of shuttered Tustin lender Medical Capital Holdings. Attorneys for MedCap CEO Sidney M. Field and President Joseph J....
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Utility customers get $400 million refund
(Update 10:15 a.m.: The rebate will be given to all Southern California Edison, San Diego Gas & Electric and PG&E customers beginning in 2011 as a credit on the line on their bill labeled “DWR...
View ArticleJudge again denies attorney fees for MedCap bosses
U.S. District Court Judge David O. Carter has again denied a request for $150,000 a month in legal fees by former Medical Capital Holdings executives Sidney M. Field and Joseph “Joey” Lampariello....
View ArticleMedCap investor wins $400,000 from broker
FINRA, the Financial Industry Regulatory Authority, has ordered a broker to pay a customer $400,000 that she lost in a Medical Capital Holdings fund. The award, issued May 10 and first reported Tuesday...
View ArticleSEC sues Irvine firm for $10 million bond scheme
Companies in Irvine and New Mexico settled charges that they defrauded investors who bought $10 million in so-called “convertible bonds,” the Securities and Exchange Commission said Monday. The SEC...
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