- The Hong Kong Law Reform announced the initial implementation stage of a consumer class action, however it did not include the timetable for investors.
- The Facebook www.facebook.com IPO Market Makers's losses could total U$100 million according to claims by four of Wall Streets market makers Knight Capital, Citadel Securities, UBS AG, and Citi's Automated Trading Desk.
- Asian Financial Forum in Hong Kong www.asianfinancialforum.com
- The Italian court sentenced the founder and CEO of Parmalat to 18 years in jail and ordered the executives to repay over 2 Billion Euros and reimburse thousands of defrauded investors
trustee, Irving Picard http://www.madofftrustee.com, charged
with recovering funds for the victims of Bernard Madoff's multi-billion dollar
fraud scheme has filed lawsuits seeking nearly $20bn (£12.6bn) in damages.
He has also filed a lawsuit against HSBC for U$9 billion and similar suits against UBS Banks and JPS Morgan Chase
- The US court set the deadline for all claims related to the Enron Corporation Fraud
- Toyota is facing over 89 Class action lawsuits over the braking problem on their cars
- The Deepwater Horizon oil spill was finally capped on the 15th July 2010
- Over 220 Lawsuits have been filed against BP alone for the Deepwater spill
- The Deepwater Horizon oil has a blowout on the rig run by BP, Transocean, Cameron International Corporation www.c-a-m.com, and Halliburton Energy Services www.halliburton.com, and causes a massive oil spill in the gulf of Mexico
- Toyota issues a recall for brake master problems
- The Law Reform Commission http://www.hkreform.gov.hk in Hong Kong published a consultation paper arguing the case for the introduction of Class action litigation in Hong Kong
- Raft attended SIBOS 2009 http://www.swift.com/sibos2009 in Hong Kong to meet with our clients and business partners across Asia.
- Parmalat SpA (BIT: PLT), http://www.parmalat.com/en/ the international Italian dairy and food corporation collapsed in 2003 with a 14bn euro ($20bn; £13bn) deficit in its accounts and it is Europe's biggest bankruptcy to date.
- The Sarbanes–Oxley Act of 2002 (Pub.L. 107-204) came into force on the 30th July 2002 , The bill was created as a result of a large number of major corporate frauds in the USA. The key companies involved were: Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. Due to the frauds committed investors lost billions of dollars, after the share prices of the companies collapsed. The public were outraged as it destroyed investors confidence in the USA's securities markets.
- Enron Corporation was discovered to have committed fraud and filed for bankruptcy