Your daily dose of financial news - The Brief – 8.30.16

Robins Kaplan LLP

And after all the sturm und drang surrounding the Hershey Trust and the Mondelez buyout offer over these past few months . . .  it’s over.  Mondelez announced yesterday that it’s no longer seeking to acquire the Hershey Company, sending stocks of the former up and the latter sliding in after-hours trading – NYTimes and WSJ and Bloomberg

Anyone with a nostalgic soft spot for Sears will note that billionaire investor (and Sears’ CEO since 2013) Edward Lampert has extended yet more of this own money–$300 million, this time—to the struggling retailer, leading Breakingviews to dub the company Lampert’s White Whale – NYTimes

For a sure sign of where the self-driving car battles will be occurring in the not-too-distant-future, look no further than the recent departure of Alphabet exec David Drummond from Uber’s Board of Directors over conflict-of-interest concerns – WSJ and Bloomberg

Apple’s sweet Irish tax set-up appears to have suddenly soured thanks to EU regulators – NYTimes and WSJ and Bloomberg

White Collar Watch marks last week’s SEC settlement with a former Fannie Mae chief exec over securities fraud allegations for a “mere token payment” as the rather sad (and weak) end to the prosecution of financial crisis-era fraud – NYTimes

The Fed’s seeking a $1.2 million fine and banking industry ban for a former Barclays trader’s role in alleged Forex manipulation – Law360

There’s plenty of anecdotal evidence to back up the idea that Massachusetts (okay, okay, BOSTON, at least) is its own little world.  It may soon have its own time zone to go right along with that – Marketplace

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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