LEGAL

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Celadon Group to Pay $42.2MM in Restitution for Securities Fraud

Transportation company Celadon Group entered into a deferred prosecution agreement in connection with a criminal information filed in the Southern District of Indiana, charging the company with securities fraud. The company agreed to pay total restitution of $42.2 million for filing materially false and misleading statements to investors and falsifying books, records and accounts.

Fed Fines Standard Chartered $164MM

The Federal Reserve Board fined Standard Chartered Bank of London and its parent company $164 million for the firm’s unsafe and unsound practices relating to inadequate sanctions controls and failure to disclose sanctions risks to the Federal Reserve. The Fed is also requiring the firm to improve its U.S. law compliance program.