Federal securities regulators want a judge in Washington, D.C., to order liquidation proceedings to resolve potentially thousands of claims from investors who were caught up in the alleged multibillion-dollar fraud scheme executed by Texas financier R. Allen Stanford.

The U.S. Equal Employment Opportunity Commission has released a draft strategic plan for the next four years, vowing to continue its focus on cases where there is “a pattern, practice or policy of alleged discrimination and/or class cases where the alleged discrimination has a broad impact.”

Seven people and two companies have been charged with running one of the largest online piracy rings in the world, the Justice Department has announced. Officials said alleged members of the conspiracy, which operated Megaupload.com, generated more than $175 million in revenue and cost copyright holders $500 million. On Thursday, authorities in New Zealand arrested four of the defendants, including the alleged founder of Megaupload, Kim Dotcom.See related story: DOJ, Universal Music Websites Targeted After Piracy Arrests

Two law firm employees whose financial data was hacked have no standing to sue the payroll-processing company that allowed the breach, the 3rd Circuit has held in a precedential opinion, finding the alleged injuries to be too speculative given the lack of evidence that the compromised information has been or will be used.

Before the start of business today, former Penn State assistant coach Jerry Sandusky stunned a jam-packed courtroom with the decision to waive his right to a preliminary hearing.