We’ve heard about VW’s $15 billion settlement to resolve US claims by owners and regulators, but a spate of recent state AG-led actions shows that the fallout from the emissions cheating scandal is far from over. NY, MA, and...more
7/20/2016
/ Aetna ,
Anthem Blue Cross ,
Antitrust Violations ,
Automotive Industry ,
Bayer ,
Bitcoin ,
Carbon Emissions ,
CIGNA ,
Department of Justice (DOJ) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Global Economy ,
HSBC ,
Humana ,
Member State ,
Mergers ,
Money Laundering ,
Monsanto ,
National Emissions Standards ,
Referendums ,
Takeover Bids ,
UK ,
UK Brexit ,
Unilever ,
Virtual Currency ,
Volkswagen ,
White Collar Crimes
A putative class action filed last week is accusing 25 prominent banks—including Deutsche Bank, Goldman Sachs, and Barclays—of “conspiring to rig the market for securities” sold by the US Treasury in their roles as primary...more
7/11/2016
/ Administrative Proceedings ,
Aetna ,
Amazon Marketplace ,
Anthem Blue Cross ,
Banks ,
Barclays ,
Bitcoin ,
CIGNA ,
Class Action ,
Deutsche Bank ,
Economic Development ,
Enforcement Actions ,
EU ,
Financial Institutions ,
Goldman Sachs ,
Humana ,
Job Creation ,
Libor ,
Market Manipulation ,
Merger Agreements ,
Nintendo ,
Pension Funds ,
Putative Class Actions ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Serious Fraud Office (SFO) ,
Theranos ,
U.S. Treasury ,
UK ,
UK Brexit ,
Virtual Currency
US banks made a strong showing in part 2 of the latest round of the Fed’s stress tests. Only Morgan Stanley didn’t pass unconditionally (concerns over the company’s “internal controls and processes” tripped it up), while the...more
6/30/2016
/ Banking Sector ,
Banks ,
Bitcoin ,
Cable Operators ,
Deutsche Bank ,
Entertainment Industry ,
ETFs ,
EU ,
Film Industry ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
General Electric ,
Google ,
Initial Public Offering (IPO) ,
Internal Controls ,
Member State ,
Merger Agreements ,
Morgan Stanley ,
Referendums ,
Sale of Assets ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Stocks ,
Stress Tests ,
UK ,
UK Brexit
We reported last week on the additional $2 billion that Uber took in through the leveraged loan market. Andrew Ross Sorkin gives us an interesting reason for why Uber’s still got its hat in hand ($15 billion cash in hand and...more
6/21/2016
/ Bank of America ,
Banks ,
Bitcoin ,
Carbon Emissions ,
Citibank ,
Digital Currency ,
Ether ,
EU ,
Financial Institutions ,
Financial Markets ,
Initial Public Offering (IPO) ,
Leveraged Loans ,
Liquidity ,
Stress Tests ,
Uber ,
UK ,
UK Brexit ,
Volkswagen
And just as quickly as he was back on the scene, now he’s gone. With a wipe of the evidence purporting to show he invented Bitcoin and a new post entitled “I’m sorry,” Craig Steven Wright appears poised to fade back into the...more
5/6/2016
/ Alibaba ,
Antitrust Litigation ,
Benchmarks ,
Beneficial Owner ,
Bitcoin ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
Interest Rates ,
Job Creation ,
Millennials ,
Panama Papers ,
Reporting Requirements ,
Sanofi ,
Takeover Bids ,
Virtual Currency
Craig Steven Wright—the Australian who claims to be famed Bitcoin mastermind Satoshi Nakamoto—is not exactly being welcomed with open (and unquestioning) arms – NYTimes...
Stocks came booming back yesterday after a tough...more
5/3/2016
/ Baker Hughes ,
Banking Sector ,
Berkshire Hathaway ,
Bitcoin ,
China ,
Corporate Misconduct ,
Financial Markets ,
Foreign Currency ,
Halliburton ,
Libor ,
Moody's ,
Securities and Exchange Commission (SEC) ,
Spain ,
Valeant ,
Virtual Currency
Our top hits of the past week just keep on coming, including:
The Deal Professor reviewing the “snap judgments” on what led to Valeant’s current mess—explanations that include “Valeant as Enron,” a McKinsey-driven...more
3/30/2016
/ Bitcoin ,
Blockchain ,
Capital Raising ,
China ,
Credit Suisse ,
Financial Markets ,
GMO ,
Hackers ,
Law Firm Associates ,
RMBS ,
Takeover Agreement ,
Valeant ,
Venture Capital
Anbang Insurance Group, the Chinese insurer that surprised many with its nearly $2 billion purchase of the Waldorf Astoria 2 years ago, made an equally startling unsolicited bid to acquire Starwood Hotels for [a pricey] $12.8...more
Stocks took a breather yesterday (that’s turning into something of a global rally this morning), helped along in part by rising oil prices and hopes of a new ECB stimulus package this spring – WSJ...
Let’s call it the...more
Goldman Sachs is ready to close a major lingering chapter of financial-crisis-era litigation, announcing yesterday that it’s agreed to a civil settlement of $5 billion to resolve claims related to its “marketing and selling...more
The Supreme Court just added a “Part IV” to the Times’ series on the impact of arbitration clauses on average consumers – NYTimes...
Dealbook’s White Collar Watch column asks what makes a misstatement material in a...more
It’s official now: Yahoo’s keeping Alibaba but spinning off its core internet business and Yahoo Japan. All the details here – NYTimes and WSJ...
Some thoughts on what, exactly, that means for CEO Marissa Mayer –...more