Your Daily Dose of Financial News

Robins Kaplan LLP

We survived the open road, and we’re back at it.  Let’s dive in, shall we?

The lira’s down. The US is threatening tariffs. Turkey’s financial crisis is worse than many ever thought.  Well, except for Tim Lee – NYTimes

Oh, and Iran could be next – Bloomberg

Late last week, a California jury found Monsanto liable in the first of a series of cases accusing the Roundup weedkiller maker of causing plaintiff Dewayne Johnson’s non-Hodgkin’s lymphoma, awarding him an incredible $289 million in damages – NYTimes and Law360 and Bloomberg

A group of former employees has filed a federal lawsuit against Nike claiming “a culture of sexual harassment and gender bias” that “left women demeaned and underpaid” – NYTimes

Checking in with Jack Dorsey as he pulls double duty at Twitter and Square, both of which have seen their share price rise by at least 100% in the past year – Barrons

And while we’re doing check-ins, let’s see how Elon’s doing.  Which Elon?  Well, that depends on the day of the week – Bloomberg

Of course, Elon’s public musings involve far more than questions of identity. Just days after tweeting that he had “funding secured” to take Tesla private, two investors filed a class-action lawsuit against Musk and the company, arguing that the tweets constituted securities fraud. The suit comes on the heels of Musk’s announcement that he wanted to take the company private for $72 billion and claims that the tweets were a false and misleading effort to undermine Tesla short sellers – Reuters and BBC

Venezuela’s state oil company has indicated its intent to appeal a recent US ruling from federal court in Delaware that “would allow one of the country’s creditors to seize a major source of dollars—Citgo Petroleum” – WSJ

Chinese officials have been scrambling to tamp down some serious unrest in recent months as hundreds of peer-to-peer lenders have suddenly collapsed, prompting panic and protests from investors “with little information and little way to get their money back” – NYTimes

Turns out that activist hedge fund Third Point has had a rather substantial appetite for soup, and it’s been turning that thirst into a 5.6% stake in Campbell Soup Co. – Marketplace

Business groups from a variety of sectors are banding together to push California lawmakers to change what they consider “unworkable” aspects of the state’s new landmark privacy law – Law360

New research suggests that Sergio Marchionne—the eccentric late CEO of Fiat Chrysler who brought an “unusual blend of vision, technical expertise, analytical rigor, open-mindedness and candor” to the job—may just be the “leader of the future” – WSJ

Charles Schwab is pushing back against big banks’ efforts to dismiss its revived and amended claims over their alleged Libor manipulation, arguing that the banks’ “latest round of jurisdictional and merits-based challenges” hold no water – Law360

Amidst all sorts of Tiger Woods drama and emotional run from Adam Scott, 28-year-old beast Brooks Kepka quietly won his 2nd major of the year (and 3rd of the last 7) at Bellerive in St. Louis yesterday. Pretty amazing what 340-yard dead-straight drives and a sick short game can do for you – Bloomberg and NYTimes

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.

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