Legal Topics > Securities
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Securities? Primer
Security \Se*cu"ri*ty\, n.; pl. Securities. [L. securitas: cf. F. s['e]curit['e]. See Secure, and cf. Surety.] 1. The condition or quality of being secure; secureness. Specifically: (a) Freedom from apprehension, anxiety, or care; confidence of power or safety; hence, assurance; certainty. [1913 Webster] His trembling hand had lost the ease, Which marks security to please. --Sir W. Scott. [1913 Webster] (b) Hence, carelessness; negligence; heedlessness. [1913 Webster] He means, my lord, that we are too remiss, Whilst Bolingbroke, through our security, Grows strong and great in substance and in power. --Shak. [1913 Webster] (c) Freedom from risk; safety. [1913 Webster] Give up yourself merely to chance and hazard, From firm security. --Shak. [1913 Webster] Some . . . alleged that we should have no security for our trade. --Swift. [1913 Webster] 2. That which secures or makes safe; protection; guard; defense. Specifically: (a) Something given, deposited, or pledged, to make certain the fulfillment of an obligation, the performance of a contract, the payment of a debt, or the like; surety; pledge. [1913 Webster] Those who lent him money lent it on no security but his bare word. --Macaulay. [1913 Webster] (b) One who becomes surety for another, or engages himself for the performance of another's obligation. [1913 Webster] 3. An evidence of debt or of property, as a bond, a certificate of stock, etc.; as, government securities. [1913 Webster] Syn: Protection; defense; guard; shelter; safety; certainty; ease; assurance; carelessness; confidence; surety; pledge; bail. [1913 Webster]
Bally Files Bankruptcy for Second Time in 14 Months (Update3)
Published December 3, 2008, 12:21 pm, Bloomberg
Dec. 3 (Bloomberg) -- Bally Total Fitness Holding Corp. , the operator of 349 gyms in the U.S., filed for bankruptcy little more than a year after emerging from court protection with financing from hedge fund firm Harbinger Capital Partners.
Becerra seen top candidate for Obama trade chief
Published December 3, 2008, 8:49 am, Reuters via Yahoo! News
California congressman Xavier Becerra appears to be a leading candidate to become President-elect Barack Obama's chief trade negotiator, U.S. business lobbyists said on Wednesday.
Bally Total Fitness Files for Bankruptcy After Emerging in 2007
Published December 3, 2008, 6:53 am, Bloomberg
Dec. 3 (Bloomberg) -- Bally Total Fitness Holding Corp. , the operator of 400 gyms in the U.S., the Caribbean, Mexico, South Korea and China, filed for bankruptcy protection again, little more than a year after emerging from court protection.
Class Action Demands Countrywide Repay Hedge Funds for Losses
Published December 2, 2008, 6:08 pm, Law.com
A New York litigation boutique filed a class action suit Monday against Countrywide Financial Corp. on behalf of investors in 374 securitization trusts that suffered losses due to Countrywide's $8.4 billion settlement with 15 states' attorneys general. Countrywide agreed in October to modify more than 50,000 largely adjustable rate mortgage loans, but plaintiffs lawyers say that substantially ...
Elliot Smith Admits to Obstructing SEC Investigation (Update2)
Published December 2, 2008, 2:21 pm, Bloomberg
Dec. 2 (Bloomberg) -- Elliot Smith , a founding member of the Chicago Board of Options Exchange, pleaded guilty to criminally obstructing justice in a U.S. Securities and Exchange Commission investigation, prosecutors said.
SIPC: Claims Forms Mailed to Lehman Brothers Inc. Customers and Creditors
Published December 2, 2008, 11:09 am, PR Newswire via Yahoo! News
The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, said that an estimated 925,000 claims forms have been mailed today to customers and creditors of Lehman Brothers Inc. (LBI).
Consumer Reports: Cell Phone Service Improves
Published December 2, 2008, 10:51 am, PR Newswire via Yahoo! News
Verizon a Standout Carrier in Survey of 23 Cities; Five Ways to Cut Cell Bills
Ford asks Congress for $9B line of credit
Published December 2, 2008, 10:16 am, AP via Yahoo! News
Ford Motor Co. is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it.
Icahn Sues Leon Black"™s Realogy Over Debt Exchange (Update2)
Published December 2, 2008, 9:52 am, Bloomberg
Dec. 2 (Bloomberg) -- Billionaire investor Carl Icahn sued Leon Black ’s Realogy Corp., over claims the company’s planned $1.1 billion debt exchange is a fraudulent transfer of money that will only delay its inevitable failure.
Icahn Sues Leon Black"™s Realogy Over Debt Exchange (Update1)
Published December 2, 2008, 8:06 am, Bloomberg
Dec. 2 (Bloomberg) -- Carl Icahn , the billionaire investor, sued Leon Black ’s Realogy Corp., owner of the Century 21 and Coldwell Banker brands, to block the company’s planned $1.1 billion debt exchange.
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Off-site Securities Links, User Submitted
The following links have been collected through user bookmark submission in the Securities category. Please note, because these resources are off-site we cannot guarantee the accuracy or quality of any information.
Wed Dec 3
- Independent Financial Group LLC - A Broker/Dealer Committed to Your Independence
- U.S. Securities and Exchange Commission (Home Page)
- How credit cards become asset-backed bonds
- Prof. Adam Pritchard and Securities Class Action Reform: "The Revolution Has Begun (Maybe)": University of Michigan Law School Professor Adam Pritchard?s recent proposal to reform securities class actions via shareholder proposal has moved from a purely academic discussion to the real world. Prof. Pritchard reports today that a shareholder in Alaska Air has submitted a proposal to the company under Rule 14a-8 to amend Alaska Air?s certificate of incorporation to provide for ?a partial waiver of the ?fraud on the market? presumption of reliance created by the Supreme Court in Basic v. Levinson.?
Tue Dec 2
Mon Dec 1
- Global Economy Shows Its True Colors: Here is the thing though: we didn?t have the money to spend to begin with!
- Mortgage Backed Securities, Forclosures, and the Housing Bust of 2008: Everyone knows about the housing bubble and the economic slowdown of 2008. The term, ?mortgage backed security? has become the proverbial villain in this dramatic time for the U.S. Markets.
- Welcome to SII Workbooks & Elearning
- America's unorthodox economic policies | Plan C | The Economist
Sun Nov 30
- Welcome to the Securities Lawyer's Deskbook
- Stupid investment of the week: Reverse convertible securities
- A Tale of Two Paulsons by Nicole Gelinas, City Journal 21 November 2008
Fri Nov 28
- SIFMA Released Today Blog: Securities Industry and Financial Markets Association
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