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Robins Kaplan LLP

Markets Tank Again As Recession Fears Join Inflation Worries

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As expected, traders’ initial exuberance at the Fed’s big rate hike was short-lived, and markets resumed their recent dismal performance on Thursday, as recession fears joined inflation concerns to make for a rough day on...more

Robins Kaplan LLP

Sandberg Stepping Down as Meta COO After 14 Years

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Meta COO Sheryl Sandberg is stepping down after 14 years of steering the ship at Zuck’s side. Sandberg will stay on the Board of Meta, the parent company of Facebook, Instagram, and WhatsApp. Javier Olivan will take over...more

Robins Kaplan LLP

Inflation-Battered Retailers Spur Vast Market Selloff

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Falling retail profits and lowered forecasts for the year to come helped drive a mega midweek selloff on Wall Street, as “stocks had their worst day yet in a series of already ugly drops after shrinking profits by major...more

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Feds Charge Hwang with Securities Fraud Over Massive Archegos Collapse

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On Wednesday, federal authorities arrested Archegos Capital Management’s Bill Hwang and the company’s former CFO Patrick Halligan over an alleged “stock manipulation scheme they called staggering in size and brazen in its...more

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Tesla Impresses with Massive Q1 Profits

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Tesla delivered $3.3 billion in profits during the first three months of 2022, a massive increase from the sub-$500M figure during the same period a year before. Still, the company also told investors on Wednesday that “it...more

Kohrman Jackson & Krantz LLP

The Ongoing Battle Between Musk And The Sec Heats Up Again

ELON’S MUSK TUMULTUOUS HISTORY WITH THE SEC - Tesla’s colorful CEO, Elon Musk, has a history of feuding with the Securities and Exchange Commission (SEC), and it looks like the fight isn’t over. In 2018, the SEC...more

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Tesla Opens $7B German Factory in Hopes of Reclaiming European EV Dominance

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Tesla’s new Berlin factory officially kicked off the production process on Tuesday, with ambitious plans to churn out some 500,000 EVs a year. The $7 billion plant, completed in just 2 years, will focus on Model Y SUV...more

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Citing Free Speech, Musk & Tesla Seek to End 2018 SEC Settlement Over Twitter Preclearance

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Tesla CEO Elon Musk moved this week in SDNY federal court to “scrap a settlement he reached with securities regulators in 2018 that required some of his tweets to be preapproved, a condition that has fomented an ongoing...more

Robins Kaplan LLP

SEC Investigates Musk Brothers Over Possible Insider Trading

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The SEC is reportedly probing whether recent stock sales by Tesla’s CEO Elon Musk and his brother Kimbal “violated insider-trading rules.” News of the investigation came less than a week after Tesla accused the Commission of...more

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Looming Ukraine Incursion Sends Stocks Plummeting

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Recent news of misinformation out of Russia about alleged troop withdrawals (when, in fact, troops and shelling near the border are up) sent skittish markets down on Thursday. Tech companies were again among “some of the...more

Robins Kaplan LLP

California Sues Tesla Over Alleged Racial Discrimination at U.S. Facility

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California’s Department of Fair Employment and Housing has filed a state court action against Tesla that alleges “racial discrimination and harassment at the electric-vehicle maker[‘s]” Fremont factory, the company’s...more

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Fed Forecasts Rate Hikes Beginning Next Month to Counter Inflation

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The Fed delivered on its well-telegraphed plan to raise interest rates as soon as next month in an effort to combat inflation. The central bank has been easing its bond-buying program and appears ready to reduce its balance...more

Robins Kaplan LLP

Financial Daily Dose 12.8.2021 - Embattled OCC Nominee Omarova Withdraws From Consideration

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Saule Omarova, the White House’s pick to helm the OCC, has withdrawing from consideration for the post, saying it was “no longer tenable” for her to seek the position following withering attacks from the banking industry and...more

Robins Kaplan LLP

Financial Daily Dose 12.7.2021 - Samsung Shakes Up Leadership, Consolidates Business Units

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Samsung surprised the business world today by replacing the “heads of its three major business units and merg[ing] the company’s mobile and consumer electronics businesses into a single unit.” The moves mean the South Korean...more

Robins Kaplan LLP

Financial Daily Dose 12.6.2021 - Cryptos Crash as Mixed Jobs Report Pushes Investors to Safety

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Markets fell again on Friday after the November jobs report failed to hit predicted marks. Still, the news wasn’t all bad, as the numbers also showed that the country’s unemployment rate dropped and “the overall participation...more

Robins Kaplan LLP

Financial Daily Dose 11.19.2021 | Top Story: State AGs to Investigate Possible Instagram Consumer Protection Violations

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A bipartisan coalition of state attorneys general from 10 states has “opened an investigation into Meta, the company formerly known as Facebook, for promoting its social media app Instagram while knowing of mental and...more

Robins Kaplan LLP

Financial Daily Dose 11.16.2021 | Top Story: $1T Infrastructure Investment Signed Into Law

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The tortuously negotiated and much-anticipated infrastructure bill that will commit $1 trillion to rebuilding the “nation’s roads, ports and power lines” officially became law on Monday. Here’s another look at what the final...more

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Financial Daily Dose 11.12.2021 | Top Story: Johnson & Johnson and Toshiba Follow GE’s Lead and Announce Company Splits

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Just days after U.S. corporate titan General Electric announced that it would divide itself into three companies, another storied American brand—Johnson & Johnson—laid out plans to “break itself up into two publicly traded...more

Robins Kaplan LLP

Financial Daily Dose 11.11.2021 | Top Story: Inflation Tops 6% in October, Shakes Markets

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The inflation train continued its runaway pace in October, with the CPI rising 6.2%—the “sharpest increase” since 1990. The news is challenging politically for the administration but also for policymakers at the Fed, who are...more

Robins Kaplan LLP

Financial Daily Dose 11.10.2021 | Top Story: Google Loses Appeal of EU’s $2.8B Antitrust Fine

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In a blow to Google and the rest of Big Tech, an EU appeals court has refused to “overturn a landmark antitrust ruling by European regulators” from 2017 over Google’s alleged “preferential treatment to its own...more

Robins Kaplan LLP

Financial Daily Dose 11.3.2021 | Top Story Facebook Shuts Down Decade Old Facial Recognition System

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Prompted by concerns over privacy, “government investigation, a class-action lawsuit and regulatory woes,” Facebook is planning to “shut down its decade-old facial recognition system this month, deleting the face scan data of...more

Robins Kaplan LLP

Financial Daily Dose 10.15.2021 | Top Story LinkedIn Shuts Down Site Access in China

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Microsoft-owned LinkedIn is shuttering its grand experiment in the Chinese marketplace, citing “a significantly more challenging operating environment and greater compliance requirement.” The pull out “completes the fracture...more

Robins Kaplan LLP

Financial Daily Dose 10.14.2021 | Top Story: CPI Jumps More than 5%, Raising Fears of Stubborn Inflation

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In unsurprising news to regular Daily Dose readers, consumer prices jumped 5.4% in September as compared to a year before, with “food, rent and furniture costs surging as a limited supply of housing and a shortage of goods...more

Robins Kaplan LLP

Financial Daily Dose 10.8.2021 | Top Story: Tesla Makes Good on Threat to Move HQ from Cali to Texas

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Jobs Report Friday! Here’s what analysts are looking for in the numbers, with the Delta variant’s impact on the recovery still looming large - MarketWatch and NYTimes and WSJ and Bloomberg Elon Musk & Co. are decamping from...more

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Financial Daily Dose 10.11.2021 | Top Story: Apple Appeals Epic Games Verdict, Seeks Stay of Enforcement

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Apple has officially appealed the September verdict in its years-long battle with Epic Games that was set to “require the tech giant to tweak its strict App Store rules and force it to allow app developers of ways to pay for...more

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