Michael Reif

Michael Reif

Robins Kaplan LLP

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Your daily dose of financial news - The Brief – 9.23.16

Well, see, Yahoo just doesn’t have enough on its plate these days. So why not the revelation that hackers stole data on 500 million users in 2014? The hack—thought to be a state-sponsored affair—is likely the biggest data...more

9/23/2016 - Anbang Apple Bank Accounts Banking Sector Banks Corporate Culture Cross-Selling Cyber Attacks Data Breach DOJ Financial Markets Hackers Insider Trading IPO Marriott Search Engines SEC Tesla Tone At The Top Wall Street Wells Fargo Yahoo!

Your daily dose of financial news - The Brief – 9.22.16

As most expected, the Fed held rates steady yesterday. Though its divided FOMC and Chair Yellen’s comments about an improving economy seem to portend a rate hike before the end of the year....more

9/22/2016 - Anthem Blue Cross Banks CIGNA Energy Sector Financial Markets Financial Sector Foreclosure Forex Insider Trading Interest Rates Market Manipulation Mortgages SEC Wells Fargo

Your daily dose of financial news - The Brief – 9.21.16

Testifying before the Senate Banking Committee yesterday, Wells Fargo CEO John Stumpf admitted that the illegal sham-account-creation activity at the heart of its recent SEC fine may have begun earlier than first reported....more

9/21/2016 - Antitrust Litigation Apple ATMs Bank Accounts Banking Sector Banks Barclays Bitcoin Digital Currency DOJ Exxon Mobil Financial Institutions Financial Sector Fraud Interest Rate Adjustments Interest Rates Japan JPMorgan Chase Libor Ponzi Scheme Regulatory Oversight SEC Senate Banking Committee Tesla Virtual Currency Wells Fargo

Your daily dose of financial news - The Brief – 9.20.16

The hits just keep on coming for Wells Fargo, who now is facing questions about its failure to prime the market for news of its $185 million SEC settlement earlier this month. The main concern with that tack is that Wells...more

9/20/2016 - Bank Accounts Banks Elon Musk Financial Sector FINRA Government Investigations Mergers SEC Settlement Tesla Unjust Enrichment Wells Fargo

Your daily dose of financial news - The Brief – 9.19.16

Gretchen Morgenson and Fair Game have had a few days to reflect on the Bayer/Monsanto deal, and with that little bit of hindsight (and a lot of history), she’s not too sure that Bayer’s stockholders are going to be thrilled...more

9/19/2016 - Agribusiness Bank Accounts Banks Bayer CFPB Deutsche Bank DOJ Fees Financial Sector FINRA High Frequency Trading Job Creation Mergers Monsanto Pharmaceutical Industry Prepaid Payment Products Regulatory Oversight RMBS Unemployment Wells Fargo

Your daily dose of financial news - The Brief – 9.16.16

The DOJ has reportedly proposed an eye-popping $14 billion settlement with Deutsche Bank to resolve MBS-related probes, though insiders caution that this is likely an outsized opening bid and that the ultimate settlement will...more

9/16/2016 - Commercial Bankruptcy Deutsche Bank DOJ Exxon Mobil Financial Sector Lehman Brothers Oil & Gas RMBS Wells Fargo

Your daily dose of financial news - The Brief – 9.15.16

The Committee on Capital Markets Regulation—a nonprofit that represents execs from many of the US’s largest banks—will release a paper today arguing that the Fed illegally sidestepped the APA by adopting “central parts of its...more

9/15/2016 - Agribusiness Algorithmic Trading Bank Accounts Banks Bayer Bonds Capital Markets Dark Pool Electric Vehicles Financial Sector General Motors Mergers Monsanto Pharmaceutical Industry SEC Stress Tests Transparency Wells Fargo

Your daily dose of financial news - The Brief – 9.14.16

Following news of Starboard Value’s plan to shake things up at Perrigo, we have this take from Breakingviews, which suggests that fending off a hostile takeover (as Perrigo did from Mylan) tends to “make fertile turf for an...more

9/14/2016 - Activist Investors Bank Accounts Bayer Class Action Fees Financial Sector Foreign Currency Hostile Takeover Loans Mergers Monsanto Mortgages Oil & Gas PNC UK Wells Fargo

Your daily dose of financial news - The Brief – 9.13.16

In a closely watched and dissected speech yesterday, Federal Reserve governor Lael Brainard told the crowd gathered at the Chicago Council on Global Affairs that she favored “prudence” in raising rates despite recent signs of...more

9/13/2016 - Agricultural Sector Bank Accounts Banking Sector Banks Financial Markets Hedge Funds Interest Rate Adjustments Mergers Pharmaceutical Industry Ponzi Scheme Stocks Wells Fargo

Your daily dose of financial news - The Brief – 9.12.16

The past 2 years have been just short of disastrous for most hedge funds. But even without much to show in the form of results, the world’s biggest fund manager—Bridgewater Associates—has attracted $22.5 billion in investor...more

9/12/2016 - Acquisitions Apple Bitcoin Blockchain Digital Currency Financial Crisis Financial Markets Financial Sector Hedge Funds Investment Ireland REIT Tax Evasion Technology Virtual Currency

Your daily dose of financial news - The Brief – 9.9.16

We’ve got a number for that Wells Fargo settlement/fine, and it’s a doozy: $185 million for illegal banking practices (including secretly issuing credit cards without customer consent, signing up customers for online banking...more

9/9/2016 - ALJ Banking Sector Banks Commodities Cybersecurity Deutsche Bank Discovery Dodd-Frank Fraud Healthcare Junk Bonds Private Equity RMBS SEC Settlement Agreements Wells Fargo

Your daily dose of financial news - The Brief – 9.8.16

In a move anticipated over the past year or so, Caliber Home Loans—with PE Lone Star Funds’ backing—is making more loans to “borrowers with spotty credit histories.” A euphemism for subprime, by the way. That targeting has...more

9/8/2016 - Apple Barclays Class Action Class Certification Consumer Lenders Cross-Selling Cybersecurity Dark Pool EU Financial Sector FinTech Hackers Interest Rates iPhone Misrepresentation Mortgage Lenders Mortgages Real Estate Market Shareholder Litigation Shareholders Subprime Loans UK Wells Fargo

Your daily dose of financial news - The Brief – 9.7.16

Turns out that running the show at Valeant has given Pershing Square’s Bill Ackman quite the appetite. He’s looking to satisfy that hunger (and get back to the business of maximizing returns by pushing companies to make...more

9/7/2016 - Acquisitions Chipotle Grill Corporate Bonds Deutsche Bank Elon Musk Energy Sector Fast-Food Industry Financial Sector Natural Gas Oil & Gas Pipelines Restaurant Industry RMBS Silicon Valley Tesla

Your daily dose of financial news - The Brief – 9.6.16

Dealbook gives us the story of Airgas, where founder Peter McCausland’s reticence to sell (despite serious shareholder pressure) resulted in a $5 billion windfall rather than the all-too-often result of a later sale for...more

9/6/2016 - 3D Printing Apple Barclays Bayer Bonds EU Financial Markets Financial Sector Ireland Job Creation JPMorgan Chase Mergers Monsanto NCUA Pharmaceutical Industry RMBS Royal Bank of Scotland Stock Prices Stocks Summary Judgment Tax Evasion

Your daily dose of financial news - The Brief - 9.2.16

Turns out that the Anbang Insurance Group—the powerful Chinese insurer that’s made plenty of Brief appearances for its massive bids on US hotels, among others—really does live up to its air of mystery, with many of its...more

9/2/2016 - Alibaba Anbang Barclays China Commercial Bankruptcy Financial Crisis Financial Sector Insurance Industry Job Creation Loans Mylan Pharmaceuticals Pharmaceutical Industry Prescription Drugs Private Equity Qatar Shipping Shipping Cargo South Korea Technology Sector

Your daily dose of financial news - The Brief – 9.1.16

Canada’s signaled an interest in joining the China-led Asian Infrastructure Investment Bank—often seen as China’s answer to the World Bank.  The bid is controversial at home for new PM Justin Trudeau, but it reflects the...more

9/1/2016 - Amazon Marketplace Canada China Commerzbank Deutsche Bank Elon Musk Financial Crisis Financial Reporting Financial Sector Lehman Brothers Mergers Puerto Rico Student Loans Tesla UK Wells Fargo

Your daily dose of financial news - The Brief – 8.31.16

Continual rejections worked for Hershey in fending off Mondelez’s takeover bid. The Deal Professor thinks that Tronc faces considerable risks in following the same strategy with Gannett’s repeated overtures....more

8/31/2016 - Accounting Fraud Acquisitions Apple Banks EU Financial Markets Financial Sector Google Hersheys IPO Mergers Monsanto Public Offerings SEC Sharing Economy Stock Exchange Tax Evasion Theranos Uber Whistleblowers Zika

Your daily dose of financial news - The Brief – 8.30.16

And after all the sturm und drang surrounding the Hershey Trust and the Mondelez buyout offer over these past few months . . .  it’s over.  Mondelez announced yesterday that it’s no longer seeking to acquire the Hershey...more

8/30/2016 - Acquisitions Apple Automotive Industry Barclays Driverless Cars EU Fannie Mae Financial Markets Financial Sector Forex Hersheys Market Manipulation Retailers Sears SEC Securities Fraud Settlement Agreements Tax Evasion Uber White Collar Crimes

Your daily dose of financial news - The Brief – 8.29.16

One of the big themes running through the Fed’s Jackson Hole conference that wrapped last weekend: whoa, there.  Just take it easy.  It’s time for legislatures to kick government spending into high gear—not for central...more

8/29/2016 - Big Data Financial Markets Financial Sector Fraud IPO Public Offerings Startups Technology Sector

Your daily dose of financial news - The Brief – 8.26.16

Plaintiffs in the Forex MDL currently in NY federal court argued this week to Judge Lorna Schofield that the 2d Circuit’s recent ruling dismissing some plaintiffs in an aluminium price fixing suit did not apply to rob them of...more

8/26/2016 - Auto Manufacturers Automotive Industry Bay Area Financial Markets Financial Sector Foreign Exchanges Forex National Emissions Standards Price-Fixing Sharing Economy Uber Volkswagen White Collar Crimes

Your daily dose of financial news - The Brief – 8.25.16

US regulators are “ramping up oversight” of Swift—the financial messaging system used throughout global finance that’s been a key conduit for hackers in recent attacks of Bangladeshi and Ecuadorian banks....more

8/25/2016 - Algorithmic Trading Algorithms Bank Accounts Banking Sector Disclosure Requirements Financial Institutions Gig Economy Goldman Sachs Hackers MCDC Mobile Devices Municipal Bonds Online Marketplace Lending Peer-to-Peer Retirement Plan SEC SWIFT Uber

Your daily dose of financial news - The Brief – 8.24.16

Apollo Global has settled its ongoing dispute with federal regulators, with the private equity firm agreeing to cough up $53 million to the SEC over an “array of [alleged] securities law violations”....more

8/24/2016 - Bank of America Banking Crisis Financial Markets Financial Sector Housing Market Illegal Tipping Insider Trading JPMorgan Chase Russia Securities Violations White Collar Crimes

Your daily dose of financial news - The Brief – 8.23.16

The 2d Circuit has refused the DOJ’s motion for reconsideration of the panel’s May decision overturning a jury verdict and accompanying $1.27 billion fine against Bank of America over its “Hustle” mortgage generation program....more

8/23/2016 - Bank of America China DOJ Financial Markets Financial Sector Japan Manufacturers Mergers Mortgages Motion for Reconsideration Pfizer Pharmaceutical Industry Shadow Banking

Your daily dose of financial news - The Brief – 8.22.16

The SEC’s opened an inquiry into Hampton Creek in response to a Bloomberg report that the Just Mayo maker used undercover contractors to purchase its non-egg mayonnaise product in bulk not long before HC raised $90 million...more

8/22/2016 - Acquisitions Banks Biotechnology Commercial Bankruptcy FDIC Financial Sector General Motors Interest Rates JPMorgan Chase Lyft Mortgages Olympics Pfizer Pharmaceutical Industry SEC Securities Violations Sharing Economy Subprime Mortgages Valeant Washington Mutual

Your daily dose of financial news - The Brief – 8.19.16

The Journal reports that big companies [banks included] are pouring more into dividends than at “any time since the financial crisis”—likely, a response to record-low bond yields that’s “put a premium” on kicking back...more

8/19/2016 - Banking Sector Denmark Dividends Financial Crisis Goldman Sachs Italy Job Creation Moody's Mortgages RMBS Securities Whistleblowers

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