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Robins Kaplan LLP

Big tech (including Facebook, Google [theoretically], and Twitter) is heading back to the Hill (with @jack pulling double-duty, because that’s how he rolls). Here’s what to expect today based on their prepared testimony – NYTimes and Recode and Law360

Apple was the first American company ever to cross the trillion dollar market cap figure. Less than a month later, it’s got company, as Amazon hit that lofty figure itself on Tuesday before falling back below the mark by the end of the day – NYTimes and WSJ and Bloomberg and Marketplace

So what’s next for Bezos & Co.? Well, 500 million Indians, for starters, thanks to an expansion into Hindi.  And a piece of the $88 billion online ad marketplace, too – NYTimes

Banking group ING has agreed to pay “a record European fine” of nearly $900 million to resolve an investigation by Dutch prosecutors into money laundering failings, as “watchdogs scramble to staunch flows of illicit money after a spate of high-profile scandals.” The aggressive move is something of a departure for EU AML watchdogs, which have largely ceded enforcement to their American counterparts over the past decade – WSJ and Law360

Nafta talks start back up today, and Chapter 19 dispute resolution procedures and cultural sector exemptions are emerging as Canadian must-haves that could make reaching an agreement difficult – Bloomberg

Details about the DOJ’s new approach to cracking down on spoofing—the practice of trying to move markets by “entering and quickly canceling orders”—after a Connecticut jury acquitted a former UBS trader of spoofing this spring – NYTimes

Insurer State Farm will pony up $250 million to settle a lawsuit alleging that it “secretly worked to help elect an Illinois high court justice to overturn a billion-dollar judgment against it.” The settlement ends a 2012 class action brought millions of State Farm policyholders that focused on the company’s actions related to a 2004 campaign – Law360

Some background on how Argentina found itself as ground zero for the economic crisis rapidly spreading throughout emerging marketsWSJ and Bloomberg

A California federal judge has given preliminary approval to a classwide settlement totaling $480 million that would “end claims that Wells Fargo artificially inflated its stock value by opening as many as 3.5 million unauthorized customer accounts” – Law360

The five US regulatory agencies weighing proposed changes to the Volcker Rule have agreed to extend the comment period to October 17, nearly 4 and a half months since the submission of the proposal – Law360

We know what it took for Dorothy to get back home. But what about the shoes themselves? Why, just clicking your heels and saying F – B – I, of course – NYTimes and ABC

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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