Your Daily Dose of Financial News

Robins Kaplan LLP

Bill Ackman, not known for giving up easily, is finally throwing in the towel on Valeant (even after taking a board seat at the company) and cutting his losses after a failed “two-year bet that lost about $4 billion for his investors” – NYTimes and WSJ

If you thought that news was tough for Ackman’s Pershing Square, well, take a look at how it went over at Valeant – Bloomberg

The US Chamber of Commerce has filed an emergency motion seeking to enjoin the DOL’s fiduciary duty rule from taking effect (in early April) while the Chamber appeals its summary judgment loss—and while the newly led DOL conducts further review on the rule – Law360

Intel has purchased Mobileye, a major player in the tech behind self-driving cars—as part of a $15.3 billion deal announced yesterday that helps put Intel squarely in the autonomous car discussion – NYTimes and WSJ and Bloomberg and MarketWatch

Yahoo has outlined details of its post-Verizon-sale structure, such that it is, which includes a $23 million golden parachute for Marissa Mayer – WSJ

JPMorgan was in the hot seat on day one of a NY Supreme Court trial over JPM’s role in the RMBS debacle that plaintiff investors allege lost them more than $1.4 billion – Law360

Toshiba’s struggles continue, as the Japanese company will reportedly miss its second deadline to report Q3 earnings and now faces the threat of delisting by the Tokyo stock exchange – Bloomberg

Brooklyn does local and artisanal for everything else.  Why not energy?  – NYTimes

I’d say Heinz is going retro for its new ad campaign, but that wouldn’t quite be right. Mini-retro faux-retro is a bit more accurate – Mashable

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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