US-bred law firms have kicked off the key post-summer season with a rash of hires, with Morgan Lewis & Bockius hiring a team from Dentons to launch in a key Chinese market as Latham & Watkins recruits yet another Magic Circle partner in Europe. Dentons’ former Asia managing partner Mitch Dudek, along with partners Todd Liao, Alex Wang, Eddie Hsu and Cindy Pan, are leading …
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An Italian prosecutor has proposed that Morgan Stanley pay 2.9 billion euros to settle derivative transactions, the bank said on Wednesday in a securities filing. The proposed claim argues that at least some of the derivative transactions were “improper,” as was their termination, Morgan Stanley said in a 10-Q filing with the U.S. Securities and Exchange Commission. The derivative transactions originated between 1995 and 2005 …
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Williams Cos Inc shareholder Corvex Management LP has asked the U.S. oil and gas pipeline company to revamp its board with a majority of new directors by replacing members or adding new ones, a regulatory filing on Wednesday showed. Corvex, a New York-based hedge fund led by Keith Meister, urged Tulsa, Oklahoma-based Williams to make the changes within one year, it said in the filing …
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Three senior Irish bankers were jailed on Friday for up to three-and-a-half years for conspiring to defraud investors in the most prominent prosecution arising from the 2008 banking crisis that crippled the country’s economy. The trio will be among the first senior bankers globally to be jailed for their role in the collapse of a bank during the crisis. The lack of convictions until now …
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US President Barack Obama signed Senate Bill No. 764 into law on Friday, which requires labeling of genetically modified organisms (GMOs) in food products under a single national standard. The law requires the Department of Agriculture(USDA) to write the rules for a “national mandatory bioengineered food disclosure standard” no later than two years after the signing of this bill into law. According to the bill, the disclosure may be …
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Apple Inc on Friday asked the U.S. Supreme Court to clear the way for the iPhone maker to secure hundreds of millions in damages from Samsung Electronics Co Ltd in a case over smartphone design patents. The world’s top smartphone rivals have been feuding over patents since 2011, when Apple sued Samsung in a northern California court alleging infringement of the iPhone’s patents, designs and …
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A judge for the US District Court for the Northern District of California on Tuesday gave preliminary approval to a $15 billion settlement between German automaker Volkswagen AG (VW) and the US Environmental Protection Agency (EPA), California officials and consumers. Judge Charles Breyer’s ruling allows attorneys to begin gathering information from nearly 500,000 consumers whose diesel-powered vehicles were found to have violated US emissions standards. Under the terms of the agreement, owners will be …
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