Articles

focus-itt04-2col.jpg

UPDATE: SEC hits ITT Educational, execs with fraud charges

ITT Educational CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick allegedly “engineered a campaign of deception and half-truths” to hide from investors the extent of losses ITT was suffering from student loan programs, the SEC said Tuesday morning.

Read More

SEC accuses Indy cancer firm of being a sham

The SEC says the CEO of locally based biomedical firm Xytos Inc. has committed securities fraud
since 2010 by repeatedly publishing false information to investors about the company. Timothy Cook denies the accusations.

Read More

NASDAQ breakdown ramps pressure to take actions

The latest high-tech disruption in the financial markets ratchets up the pressure on NASDAQ and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur.

Read More

City Securities’ stumble opens door to rivals

City Securities Corp. has dominated the Indiana municipal bond market for decades, but the firm’s recent $580,000 settlement with the U.S. Securities and Exchange Commission could give issuers pause and competitors a foot in the door in the underwriting business.

Read More

City Securities paying $580,000 to settle SEC probe

The SEC said the Indianapolis investment firm and a southern Indiana school district made false statements to bond investors. The agency also said the head of City's municipal bond division, Randy Ruhl, provided improper gifts to bond issuers.

Read More