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April 7, 2020
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Judicial Process / Court Cases / Court Decisions

Reuters - Business

Goldman Sachs must face class action over conflicts of interest, risky mortgages

Reuters
NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) must face a shareholder class action accusing the bank of hiding conflicts of interest, including behind-the-scenes dealings with a prominent hedge fund manager, when creating risky subprime securities before the 2008 financial crisis. FILE PHOTO: A sign is displayed in the......
Reuters - Business

As Germany reels from coronavirus, some officials debate impact on banks

Reuters
FRANKFURT (Reuters) – As Germany rolls out a 750 billion-euro economic stimulus package, officials and experts are discussing whether German lenders, including Deutsche Bank AG and Commerzbank AG, will be able to weather the economic fallout of coronavirus without state help. FILE PHOTO: A man wears a face mask during......
Reuters - Business

U.S. SEC official urges delay in public comment on agency rule changes

Reuters
FILE PHOTO: Commissioner Allison Lee participates in a U.S Securities and Exchange Commission open meeting to propose changing its decades-old definition of an “accredited investor” in order to allow more Americans to buy shares in private companies, in Washington, U.S., December 18, 2019. REUTERS/Erin Scott/File Photo WASHINGTON (Reuters) – The......
Reuters - Business

Bed Bath sues 1-800-Flowers for trying to renege on deal over COVID-19

Reuters
WILMINGTON, Del (Reuters) – Bed Bath & Beyond Inc (BBBY.O) has asked a judge to hold 1-800-Flowers.Com Inc (FLWS.O) to a $252 million deal between the companies in what appears to one of the first examples of a corporate sale coming unraveled due to the coronavirus pandemic. FILE PHOTO: The......
Reuters - Business

Bayer says glyphosate settlement talks delayed by coronavirus-Handelsblatt

Reuters
FILE PHOTO: Logo of Bayer AG is pictured at the annual results news conference of the German drugmaker in Leverkusen, Germany February 27, 2019. REUTERS/Wolfgang Rattay FRANKFURT (Reuters) – Talks between Bayer AG (BAYGn.DE) and plaintiff lawyers to settle claims that the German company’s glyphosate-based weedkillers cause cancer have been......
Reuters - Business

GM reaches settlement over lost vehicle value from defective ignition switches

Reuters
File Photo: The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. REUTERS/Roosevelt Cassio NEW YORK (Reuters) – General Motors Co (GM.N) has reached a $120 million settlement with owners who claimed that their vehicles lost value because of defective ignition......
Reuters - Business

PG&E utility to plead guilty to involuntary manslaughter over 2018 fire

Reuters
FILE PHOTO: Firefighters battle a fire following an explosion at Geary Boulevard and Parker Avenue as PG&E officials dig up the ground to reach the pipe in San Francisco, California, U.S, February 6, 2019. Santiago Mejia/San Francisco Chronicle/Pool via REUTERS (Reuters) – PG&E Corp (PCG.N) said on Monday its utility......
Reuters - Business

Poland donates 430 thousand litres of confiscated spirits for disinfectant

Reuters
WARSAW (Reuters) – Nearly half a million litres of confiscated vodka and rectified spirit will be sent to Polish public institutions in need of disinfectant amid the coronavirus outbreak, Poland’s prosecutor’s office said on Friday. “Due to the growing need for disinfectants, invaluable in fight the coronavirus epidemic, (we are)......
Reuters - Business

Tesla chief Elon Musk’s trial postponed due to coronavirus

Reuters
WILMINGTON, Del. (Reuters) – Elon Musk’s expected defense of a $2.2 billion deal in court was postponed on Friday from its expected Monday start, due to the coronavirus outbreak. A new trial date has not be set. The case relates to Tesla’s purchase of SolarCity in 2016, a deal that......
Reuters - Business

Outspoken Tesla chief Elon Musk faces $1 billion trial, test of temperament

Reuters
WILMINGTON, Del. (Reuters) – Elon Musk is expected to defend a $2.2 billion deal in court next week criticized by shareholders as benefiting Musk at the expense of Tesla Inc, and the outcome may depend as much on the chief executive’s temperament as on the facts of the case. FILE......
Reuters - Business

Ukraine to block entry to residents registered in separatist-held areas to stop coronavirus spread

Reuters
KIEV (Reuters) – Ukraine’s government at a televised meeting on Friday decided to ban citizens registered in separatist-held territory in the eastern Donbass region from entering government-controlled areas. The authorities in Kiev are also gearing up to close border checkpoints with countries bordering the European Union in the west, but......
Reuters - Business

Warren Buffett prefers waiting to start of April to assess Berkshire Hathaway annual meeting: Omaha mayor

Reuters
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo (Reuters) – The mayor of Omaha, Nebraska said on Wednesday that Warren......
Reuters - Business

Telefonica, TIM plan joint bid for Oi’s mobile business in Brazil

Reuters
BRASILIA (Reuters) – Shares in Telefonica Brasil SA (VIVT4.SA) and TIM Participações SA (TIMP3.SA) rose in the morning trading as both companies said they are planning a joint offer to buy the mobile unit of bankrupt Brazilian carrier Oi SA (OIBR3.SA). FILE PHOTO: A general view shows the Telefonica headquarters......
Reuters - Business

Uber’s challenge to balance driver safety with customer privacy

Reuters
NEW YORK (Reuters) – Margaret Bordelon can still feel the hands of the drunk man who tried to pull her in for a kiss at the end of his Uber ride last September in Lafayette, Louisiana. Margaret Bordelon, a driver for Uber, looks out her car window at the location where a......
Reuters - Business

Intel says flawed EU antitrust decision underpins $1.2 billion fine

Reuters
LUXEMBOURG (Reuters) – Intel on Tuesday said EU antitrust regulators got it wrong when they fined the chipmaker 1.06 billion euros ($1.2 billion) more than a decade ago for thwarting a British rival in a case that could affect Google and Qualcomm. FILE PHOTO: U.S. chipmaker Intel Corp’s logo is......
Reuters - Business

Australia sues Facebook, alleges breach of user data

Reuters
SYDNEY (Reuters) – The Australian privacy regulator filed a lawsuit against Facebook Inc (FB.O), accusing the social media giant of sharing the personal details of more than 300,000 people with political consultant Cambridge Analytica without their knowledge. FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration......
Reuters - Business

U.S. judge says Amazon likely to succeed on key argument in contract challenge

Reuters
WASHINGTON (Reuters) – A U.S. judge said Amazon.com Inc (AMZN.O) is likely to succeed on a key argument of its challenge to the U.S. Department of Defense’s decision to award cloud computing deal worth up to $10 billion to Microsoft Corp. (MSFT.O) FILE PHOTO: The logo of Amazon is seen......
Reuters - Business

Top French court deals blow to Uber by giving driver ’employee’ status

Reuters
PARIS (Reuters) – France’s top court has recognized the right of an Uber driver to be considered an employee, a ruling that could upend the U.S. firm’s business model and potentially require it to pay more taxes and benefits such as paid holidays. FILE PHOTO: A screen displays the company......
Reuters - Business

U.S. Supreme Court leans toward SEC’s power to recover ill-gotten gains

Reuters
WASHINGTON (Reuters) – U.S. Supreme Court justices on Tuesday appeared inclined to back the Securities and Exchange Commission’s power to use federal courts to force defendants to surrender profits obtained through fraud as part of enforcement of investor-protection laws. FILE PHOTO: The Supreme Court building exterior seen in Washington, U.S.,......
Reuters - Business

U.S. joins False Claims Act lawsuit against Mallinckrodt

Reuters
FILE PHOTO: Bottles of prescription painkillers Hydrocodine Bitartrate and Acetaminopohen, 5mg/325mg pills, made by Mallinckrodt sit on a shelf at a local pharmacy, in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey (Reuters) – The U.S. government said on Tuesday it filed a lawsuit accusing a unit of the drugmaker......

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