Andrew Ross Sorkin wades into the Valeant debacle, writing that Bill Ackman is, if not doubling down, far from giving up on the cratering Canadian drug maker. Valeant announced today that Ackman’s joining its board and also revealed that it’s trying to force its CFO to resign over “improper conduct” and that its recently returned CEO is on the way out as well – NYTimes and WSJ

Yahoo’s been forced to fight a war on two fronts—never an easy proposition, as history has taught us—as it struggles to sell the company while keeping an activist shareholder bent on a board ouster at bay.  Adding to Yahoo’s trouble: the activist is Starboard Value, who has a laundry list of corporate board notches in its belt – NYTimes

More on Marriott’s new [reportedly successful] proposal to absorb Starwood – WSJ and Bloomberg

Longtime Wall Street trader Leon G. Cooperman and his $5.2 billion hedge fund Omega Advisers is girding for a “showdown with regulators,” according to Dealbook, having received as SEC Wells notice on March 14 “outlining the possibility that they could face enforcement action over trading violations” – NYTimes and WSJ

It’s worth keeping an eye on the Midland Funding LLC v. Saliha Madden dispute currently pending before the Supreme Court—a case that, in determining “whether state usury laws apply to debt that has been purchased from a national bank . . . could affect the marketplace lending industry and others that rely on securitizations” – Law360

The Journal sheds a bit of light on European banks’ cat-and-mouse game with regulators – WSJ

After years of concern that the Fed can’t do enough to make its 2% inflation goal, recent price increases now raise the issue of earlier rate hikes than promised in order to control inflation. Who envies Dr. Yellen these days? – Bloomberg

The SEC’s opened a potential path forward for IEX Group’s plan for a stock exchange with speed bumps – Law360

Keefe Bruyette & Woods analysts suggested yesterday that Citigroup’s stock price “is being held back by regulations that require big banks to hold large amounts of capital” and proposed several ways of breaking up the bank in order to increase Citi’s market value and hasten a return of excess capital to shareholders – NYTimes

The IMF is pushing China to reveal more about its currency operations “based on standards the Chinese central bank has pledged to follow,” especially following its recent turn to the derivatives market to help stabilize the at-times-freefalling yuan in past months – WSJ

The consequences for placing your trust in the internet now officially has a name: RRS Boaty McBoatface – NYTimes