General Motors Co.’s lawyers have warned the carmaker it might face punitive damages over ignition switch defects if its customers go to trial, creating an urgent need to settle lawsuits.
Read More »Trade regulator names litigator as enforcement director
Aitan Goelman, a former federal prosecutor and criminal defense lawyer, was named director of enforcement at the U.S. regulator in charge of rooting out fraud and manipulation in derivatives markets.
Read More »MLM parent to exit bankruptcy
A federal court has approved the prepackaged chapter 11 reorganization of The Dolan Company, parent company of Missouri Lawyers Media, which includes this publication.
Read More »No high-frequency crackdown in SEC blueprint for tighter control
The U.S. Securities & Exchange Commission’s plan advanced some new ideas while borrowing heavily from existing proposals and measures that already have support on Wall Street.
Read More »Repatriation tax break costs $96 Billion, estimate says
A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over the next decade, according to the Joint Committee on Taxation, a nonpartisan scorekeeper for Congress.
Read More »BNP executive firings sought amid sanctions
New York banking regulator Benjamin Lawsky is pressing BNP Paribas SA to dismiss one of its top executives as part of settlement negotiations with the U.S. over alleged sanctions violations, according to a person familiar with the matter.
Read More »GM said to oust senior lawyer Bill Kemp following Valukas review
General Motors Co. ousted Bill Kemp, a senior lawyer who was responsible for safety issues within its legal department, as the automaker reforms the operations that failed to address defective parts linked to 13 deaths.
Read More »Glaxo to pay $105 million in multistate promotion settlement
GlaxoSmithKline Plc will pay $105 million to settle claims by Missouri and more than 42 other states that it illegally promoted asthma and antidepressant drugs.
Read More »S&P loses bid to move state ratings lawsuits to federal court
McGraw Hill Financial Inc.’s Standard & Poor’s unit lost its bid to consolidate state claims that it lied about the objectivity of its ratings in the run-up to the 2008 financial crisis, forcing it to fight lawsuits in 18 state courts.
Read More »Madoff trustee blasts U.S. Solicitor General
The trustee for Bernard L. Madoff Investment Securities Inc. came out fighting Tuesday after the U.S. Solicitor General recommended in May that the U.S. Supreme Court declined to hear an appeal of rulings that barred the trustee’s $10.6 billion in lawsuits.
Read More »Is low-income housing tax credit at risk?
Affordable housing advocates are closely watching federal tax reform proposals for any threats to a tax credit they say is vital for building low-income housing.
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