Porsche legal victory sees shares soar January 3, 2011 SHARES in German car manufacturer Porsche soared yesterday after a US judge dismissed a lawsuit seeking more than $2bn (£1.3bn) in damages, clearing the way for a merger with Volkswagen. Shares rose by 12 per cent, while Volkswagen gained 3.2 per cent. The judge dismissed claims by hedge funds Elliott Associates and Black Diamond of [...]
LEGAL CASES STEMMING FROM OIL SPILL December 15, 2010 The US Department of Justice yesterday joined the hundreds of lawsuits that have been filed as a result of the Gulf of Mexico oil spill, the largest in US history: TYPES OF LAWSUITS – The vast majority are for economic losses filed under the Oil Pollution Act, seeking to recover lost wages or damage to [...]
LEGAL CASES STEMMING FROM OIL SPILL December 15, 2010 The US Department of Justice yesterday joined the hundreds of lawsuits that have been filed as a result of the Gulf of Mexico oil spill, the largest in US history: TYPES OF LAWSUITS – The vast majority are for economic losses filed under the Oil Pollution Act, seeking to recover lost wages or damage to [...]
Walmart heads to Supreme Court December 6, 2010 The Supreme Court said yesterday it would decide if the largest sex-discrimination class-action lawsuit in US history against Wal-Mart can proceed. It agreed to hear an appeal by the world’s largest retailer and the largest private employer arguing the claims of as many as 1.5m current and former female employees were too diverse to proceed [...]
US set to sue E&Y for Lehman audit December 20, 2010 NEW YORK prosecutors are said to be preparing to file a lawsuit against accountant Ernst & Young for its involvement in Lehman Brothers’ collapse in 2008. The civil case will reportedly charge Ernst & Young with helping Lehman Brothers to mislead investors during its time as the bank’s auditor, specifically homing in on the use [...]
Madoff trustee sues JPMorgan for $6.4bn December 2, 2010 THE trustee seeking money for defrauded former clients of Bernard Madoff said he filed a $6.4bn (£4.1bn) lawsuit accusing JPMorgan Chase of aiding the imprisoned Ponzi schemer’s fraud as his main banker yesterday. The lawsuit is the second largest that trustee Irving Picard has filed against former Madoff clients or others he believes assisted in [...]
What the other papers say this morning January 31, 2011 FINANCIAL TIMES WARNING AS BRIBERY LAW DELAYED British companies have been warned that they could be put on an export “blacklist” by the Organisation for Economic Co-operation and Development if the government continues to delay tough new anti-corruption laws. The warning came after Ken Clarke, the justice secretary, signalled on Monday that the implementation of [...]
What the other papers say this morning January 31, 2011 FINANCIAL TIMES WARNING AS BRIBERY LAW DELAYED British companies have been warned that they could be put on an export “blacklist” by the Organisation for Economic Co-operation and Development if the government continues to delay tough new anti-corruption laws. The warning came after Ken Clarke, the justice secretary, signalled on Monday that the implementation of [...]
Lord Browne’s US fund is mulling a bid for auctioned BP assets December 22, 2010 FORMER BP chief Lord Browne is considering buying businesses from his former firm as BP divests assets to raise cash for its US lawsuit. Riverstone, the US private equity house at which Browne is now a partner, is reportedly considering bids for BP businesses being auctioned. Assets include its Canadian natural gas liquids processing facilities [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 20, 2011 FINANCIAL TIMES RIO PLANS RUSSIAN DIAMOND PUSH AS IT EYES ALROSA TIE-UP Rio Tinto is planning a push into Russian diamond mining, eyeing a tie-up with Alrosa, the state-owned miner, as the global industry looks ahead to rising demand from China amid tight supply constraints. The company declined to comment on its intentions or on [...]