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Chalk up a major win for Carl Icahn. Icahn has forced Xerox’s CEO, Board Chair, and 5 other board members out of their jobs as part of a push by activist investors. The shake-up will jeopardize the company’s $6.1 billion takeover by Fujifilm Holdings Corp. – Bloomberg and NYTimes and WSJ

Goldman Sachs has agreed to pay $110 million to resolve allegations that its Forex traders “improperly shared information about client orders on an electronic chat room, putting clients at a disadvantage.” The settlement will be split between NY’s Dept. of Financial Services and the Federal Reserve Board – Bloomberg and Law360

Facebook’s newfound interest in protecting user privacy may be helping Zuck placate the masses, but it’s likely to create more than a few moments of discomfort at this year’s F8 annual developer conference—especially for app developers who’ve become quite accustomed to “unfettered access” to user info – NYTimes

While we’re not expecting rate-hike news when the FOMC breaks this afternoon, we’ll be listening for how the Fed addresses prices and inflation – Bloomberg and Reuters and WSJ

Yet more on the Sprint/T-Mobile deal—this time, in the form of a profile of T-Mobile’s CEO John Legere. Legere, who the Times dubs “a man who wanted to come off as the consummate outsider,” will, if the deal goes through, “have pulled off the ultimate insider move” and would helm the combined company – NYTimes

The Supreme Court refused to take up Barclays’ appeal of a 2d Circuit decision affirming class certification for a group of investors suing the bank over its dark pool trading platform, thus “keeping in place a decision that Barclays’ attorneys have argued substantially lowered the burden of proof for plaintiffs in securities fraud cases” – Law360

Though the extra 30 days was generally welcome, the general sense emerging yesterday from Europe is that most in the EU bloc are annoyed (or worse) by the uncertainty caused by the delayed US tariff action – NYTimes and WSJ

Europeans aren’t the only ones feeling that way, by the by – Bloomberg and WSJ

A few recent offerings hint at the return of Silicon Valley’s IPO scene, but in China? Well, for Chinese tech firms, we’re looking at a veritable wave – WSJ

Swaps trading giant Citadel Securities is joining the CFTC and others in questioning the propriety of an engineered debt default “designed to trigger payouts on credit-default swaps.”  The Blackstone Group-driven deal with Hovnanian Enterprises is viewed by some in the industry as market manipulation – Bloomberg

A California Supreme Court ruling this week will make it “much more difficult for companies to classify workers as independent contractors rather than employees”—a potential game-changer for the gig-economy. The Court swapped out an existing 10-factor test for a “much simpler ‘ABC’” test currently used by courts in Massachusetts and New Jersey – NYTimes

The Journal explores a culture of debate within Google that is threatening to overwhelm the company, even as the company and other tech giants struggle with free speech decisions in the marketplace and on their platforms – WSJ

A CEO with feelings? Who’s willing to share them? Yeah, that’s a thing now – WSJ

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

© Robins Kaplan LLP

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