Keyword: securities and exchange commission

  • MEC OK'd for Additional Interim Funding

    Magna Entertainment Corp. received an additional $2.5 million in interim financing to continue its operations through the initial stages of its bankruptcy reorganization April 3 after apparent agreements were reached with some of its objecting creditors

  • Lawsuit Filed Over Penn National Deal

    A Maryland attorney who is a shareholder of Penn National Gaming Inc. has filed a styled class-action lawsuit against the publicly-traded gaming company and certain of its executives over the failed buyout attempt by two investment entities.

  • Eugene Melnyk

    Biovail Fined; Melnyk Charges Remain

    Canadian drug maker Biovail Corp., which was formerly headed by prominent Thoroughbred owner-breeder Eugene Melnyk, agreed March 24 to pay a $10-million fine to resolve federal regulators' charges of civil accounting fraud and deceiving investors and analysts.

  • Youbet Settles Lawsuit in Virginia

    A federal lawsuit between Youbet.com and several entities associated with Virginia racing has been settled, resulting in a renewed effort by the advance deposit wagering company to become licensed in the state.

  • Canterbury Park Sees Gain in Income

    Canterbury Park's parent company reported increased income during the third quarter of 2007 despite experiencing a 5% decline in total handle since the beginning of the year.

  • Youbet Reveals Seizure of IRG Funds

    Youbet.com disclosed Oct. 12 that the federal government has seized $1.5 million in funds from three Nevada bank accounts affiliated with the company's off-shore entity, IRG.

  • Youbet Served Search Warrant by Federal Agents

    A federal search warrant was served at the California headquarters of Youbet.com Oct. 4 as part of a federal investigation being conducted by the U.S. Attorney's Office in Las Vegas, the company has reported.

  • Youbet.com Purchases Offshore Wagering Company

    Youbet.com has closed on its acquisition of International Racing Group, a Curacao-based account-wagering service, for $3 million. The purchase price includes $2 million in cash and $1 million worth of Youbet.com treasury stock.

  • SEC Seeks Receiver for Tanaka Investment Firm

    The Securities and Exchange Commission, in a lawsuit filed in federal court in New York City, has asked a judge to appoint a temporary receiver for Amerindo Investment Advisors, the company founded by Alberto Vilar and Thoroughbred owner Gary Tanaka.

  • Gemstar Reports Net Loss; TVG Revenue on Rise

    Gemstar-TV Guide International reported a net loss of $6.23 billion, mainly from write-downs for goodwill, for fiscal year 2002. Meanwhile, the company's interactive platform sector, which includes the TV Games Network, posted revenue gains.

  • SEC Targets Former Owner of Garden State Park

    International Thoroughbred Breeders, which sold Garden State Park in New Jersey to a real estate development company in November for $30 million, is bracing for a civil action and a probe of "certain current and former officers" by the Securities and Exchange Commission.