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NEW YORK, Jan 26 (Reuters Breakingviews) - Morgan Stanley (MS.N) is embracing the Pottery Barn rule: You break it, you pay for it. The original breach was one revelation in what makes Wall Street tick; Morgan Stanley’s response, or the idea that it’s an outlier, is another. What’s good for the pottery store sounds good for Wall Street too. Morgan Stanley was one of 11 banks fined by the U.S. Securities & Exchange Commission and the Commodity Futures Trading Commission in September 2022. At the time, the SEC noted that Morgan Stanley had financially penalized and terminated some staff for violating its policies.
After finding Sayfullo Saipov guilty of committing murder with the goal of joining the militant group Islamic State, also known as ISIS, the Manhattan jury will return on Feb. 6 to consider whether the death penalty is appropriate punishment. The only point of contention between prosecutors and Saipov's lawyers was whether the defendant carried out the attack in order to join Islamic State, which the United States brands a terrorist organization. These included murder and attempted murder to gain entrance to Islamic State, providing material support to a terrorist organization, and damage or destruction of a motor vehicle. The U.S. Department of Justice said in September that it intends to seek the death penalty for Saipov, despite a moratorium on federal executions since July 2021 as the department reviews the practice. Reporting by Luc Cohen in New York; Editing by Leslie Adler, Bill Berkrot and David GregorioOur Standards: The Thomson Reuters Trust Principles.
The five officers have been charged with second-degree murder, aggravated assault, aggravated kidnapping and official misconduct, Mulroy said. Other Memphis officers remain under investigation for policy infractions, Memphis Police Chief Cerelyn Davis said on Wednesday. "I expect you to feel what the Nichols family feels. The Nichols family viewed the police footage on Monday with their attorney, Ben Crump. The last words heard on the video were Nichols calling for his mother three times, Crump said.
NEW YORK, Jan 26 (Reuters) - Soccer's world governing body FIFA prevailed in a U.S. appeals court over a former Nigeria national team coach seeking to overturn his lifetime ban, later reduced to five years, for fixing matches. Circuit Court of Appeals in Manhattan said Samson Siasia did not show why a trial court in New York had jurisdiction over his case. FIFA had in 2019 imposed the lifetime ban, saying Siasia violated its code of ethics over a bribery scheme for Australian matches. Siasia, an Atlanta resident and former Nigeria striker, sued FIFA in August 2021, saying the evidence was "grossly insufficient" and that the ban violated his due process rights under the U.S. Constitution. In June 2021, the Court of Arbitration for Sport shortened the ban, calling it too severe for a first offense.
The investigation focuses in part on a phone call Trump made to Georgia Secretary of State Brad Raffensperger, a Republican, on Jan. 2, 2021. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties. Both investigations involving Trump are being overseen by Jack Smith, a war crimes prosecutor and political independent. NEW YORK CRIMINAL PROBEAlthough Trump was not charged with wrongdoing, his real estate company was found guilty on Dec. 6 of tax fraud in New York state.
Companies Goodyear Tire & Rubber Co FollowJan 25 (Reuters) - The U.S. Justice Department is investigating Goodyear Tire & Rubber Co (GT.O) for its handling of a recalled tire that has been linked to eight deaths and dozens of injuries, the Wall Street Journal reported, citing people with knowledge of the matter and documents reviewed by the newspaper. "We cooperated fully with the National Highway Traffic Safety Administration's (NHTSA) review of the G159 275/70R22.5 tire, which concluded in June, 2022," the company said in an emailed statement to Reuters. In June last year, Goodyear said it would recall 173,000 G159 tires used on recreational vehicles because of the potential of catastrophic tread separations. However, the company said in October that it did not believe its tires were defective. Reporting by Aishwarya Nair in Bengaluru, additional reporting by Priyamvada C; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Companies Genbiopro Inc FollowJan 25 (Reuters) - A maker of abortion pills and a doctor have filed lawsuits challenging state restrictions on the medication, in the first lawsuits of their kind since the U.S. Supreme Court overturned the federal constitutional right to abortion. The doctor, Amy Bryant, filed a separate lawsuit in the federal court in Durham, North Carolina, challenging state-imposed restrictions on obtaining mifepristone, which she said impeded her ability to treat patients. Medication abortions make up more than half of U.S. abortions. Misoprostol is the second drug of the two-drug regimen for medication abortion. Twelve states now ban nearly all abortions, including medication abortions.
[1/2] A Google LLC logo is seen at the Google offices in the Chelsea section of New York City, U.S., January 20, 2023. REUTERS/Shannon StapletonCompanies Google Inc FollowAlphabet Inc FollowWASHINGTON, Jan 25 (Reuters) - U.S. District Judge Leonie Brinkema, one of the judges who stayed then-President Donald Trump's executive order restricting immigration into the United States, has been named to oversee the Justice Department's antitrust lawsuit against Alphabet Inc's (GOOGL.O) Google over its alleged abuse of dominance in online advertising technology. read moreAccording to a filing to the docket late Tuesday, Brinkema, 78 and whose court is in Alexandria, Virginia, near Washington, was assigned to oversee the case. It is the second antitrust lawsuit filed by the department, with the first coming near the end of the Trump administration in 2020. In addition to putting a stay on Trump's executive order, Brinkema, who was nominated by President Bill Clinton, also oversaw the trial of Sept. 11 conspirator Zacarias Moussaoui, who is now in a maximum security prison in Colorado.
Jan 25 (Reuters) - Alphabet Inc's (GOOGL.O) Google said on Wednesday it believes the complaint from the U.S. Department of Justice accusing the company of abusing its dominance in digital advertising is "without merit". The company also added it will "defend itself vigorously". Google, which depends on its advertising business for about 80% of its revenue, said the government was "doubling down on a flawed argument that would slow innovation, raise advertising fees and make it harder for thousands of small businesses and publishers to grow." "In contrast with prior cases/investigations against Google's ad tech biz, we view the DOJ complaint as fairly substantive and preempting some potential Google lines of defense," said Wells Fargo analyst Brian Fitzgerald. Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
Bryant objected to North Carolina requirements that patients obtain abortion pills only in person from physicians in specially certified facilities, and undergo as state-mandated counseling at least 72 hours before having abortions. The offices of West Virginia Attorney General Patrick Morrisey and North Carolina Attorney General Josh Stein did not immediately respond to requests for comment. The West Virginia lawsuit was reported earlier by The New York Times, and the North Carolina lawsuit by ABC News. The cases are GenBioPro Inc v Sorsaia et al, U.S. District Court, Southern District of West Virginia, No. 23-00058; and Bryant v Stein et al, U.S. District Court, Middle District of North Carolina, No.
Musk ended three days on the stand defending against claims that he defrauded investors by tweeting on Aug. 7, 2018, that he had "funding secured" to take Tesla private. The trial in San Francisco federal court is testing whether the world's second-richest person can be held liable for his sometimes impulsive use of Twitter. Musk, however, acknowledged he did not have binding agreements with investors, leaving it to the jury to decide if he misled shareholders. The Saudi fund did not immediately respond to a Reuters request for comment. But when questioned by Nicholas Porritt, a lawyer for the investors, Musk said he did not have binding agreements for financing from any interested party.
It is not clear whether the special grand jury's findings will lead to criminal charges against Trump or anyone else for election interference. Members of the special grand jury voted to recommend the public release of their findings. In a statement on Monday, his Georgia-based legal team said the grand jury never subpoenaed Trump or asked him to appear voluntarily. The special grand jury had subpoena power to gather evidence and compel witness testimony but did not have the authority to issue indictments. If Willis determines that charges are warranted based on the findings, she could seek indictments from a regular grand jury.
Musk is defending against claims he defrauded investors by tweeting on Aug. 7, 2018, that he had "funding secured" to take Tesla private at $420 per share, and that "investor support is confirmed." Musk testified for about five hours on Monday and for less than 30 minutes on Friday. Tesla's stock price surged after Musk's 2018 tweets, only to fall as it became clear the buyout would not happen. Musk testified that when tweeting about the financing, he was saying "not that it will happen, but that I am thinking about it," and that it was his "opinion" that funding was secured. Musk said the fund's governor, Yasir Al-Rumayyan, later backpedaled on the commitment to take Tesla private.
Companies Tesla Inc FollowJan 24 (Reuters) - Elon Musk will take the stand on Tuesday in San Francisco, after telling a jury on Monday that he had locked up financial support in 2018 to take his electric car maker Tesla Inc (TSLA.O) private. Musk is defending against claims he defrauded investors by tweeting on Aug. 7, 2018, that he had "funding secured" to take Tesla private at $420 per share, and that "investor support is confirmed." "With SpaceX stock alone, I felt funding was secured" for the buyout, Musk told a jury on Monday, referring to the aerospace company where he is also chief executive officer. Tesla's stock price surged after Musk's 2018 tweets, only to fall as it became clear the buyout would not happen. Musk said the fund's governor, Yasir Al-Rumayyan, later backpedaled on the commitment to take Tesla private.
Companies Walmart Inc FollowJan 24 (Reuters) - The man accused of killing 23 people and injuring dozens more in a 2019 massacre targeting people of Mexican descent at a Walmart store in El Paso, Texas, will plead guilty to federal hate crimes charges, his attorneys said in a court filing. It comes days after federal prosecutors said they will not seek the death penalty for the shooter, Patrick Crusius. "Defendant notifies the Court of his intention to enter a plea of guilty to the pending Indictment," the motion filed in court read. He pleaded not guilty in 2020 to 90 federal hate crime charges in the case. A Texas judge last year put off a state trial in the case as federal prosecutors determined whether they would seek capital punishment.
Musk is defending against claims he defrauded investors by tweeting on Aug. 7, 2018, that he had "funding secured" to take Tesla private at $420 per share, and that "investor support is confirmed." He has testified that he chose not to take Tesla private due to a lack of support from some investors and a wish to avoid a lengthy process. A jury of nine will decide whether the Tesla CEO artificially inflated the company's share price by touting the buyout's prospects, and if so by how much. In addition, Musk testified on Monday that he met on July 31, 2018, with representatives of the Public Investment Fund at Tesla's factory in Fremont, California. Musk said the fund's governor, Yasir Al-Rumayyan, later backpedaled on the commitment to take Tesla private.
[1/5] Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. He added later that he chose not to take Tesla private due to a lack of support from some investors and a wish to avoid a lengthy process. Musk told the investors' lawyer Nicholas Porritt that he met on July 31, 2018, with representatives of Saudi Arabia's sovereign wealth fund, the Public Investment Fund, at Tesla's factory in Fremont, California. That never came to pass, Musk said, because the fund's governor, Yasir Al-Rumayyan, later backpedaled on the commitment to take Tesla private. "I was very upset because he had been unequivocal in his support for taking Tesla private when we met and now he appeared to be backpedaling," Musk testified.
"PIF unequivocally wanted to take Tesla private," he testified. Musk subsequently said that Yasir Al-Rumayyan, governor of the fund, later backpedaled on the commitment to take Tesla private. "I was very upset because he had been unequivocal in his support for taking Tesla private when we met and now he appeared to be backpedaling," Musk testified. Tesla's stock price surged after Musk's tweets, and later fell as it became clear the buyout would not materialize. Musk testified calmly, in contrast to his occasional combative testimony in earlier trials.
Tesla's stock price surged after Musk's tweets, and later fell as it became clear the buyout would not happen. A jury of nine will decide whether the billionaire artificially inflated Tesla's share price by touting the buyout's prospects, and if so by how much. "It was chosen because it was a 20% premium over the stock price," he testified. Musk testified calmly, in contrast to his occasional combative testimony in earlier trials. The defendants also include current and former Tesla directors, whom Spiro said had "pure" motives in their response to Musk's plan.
BERLIN, Jan 23 (Reuters) - Germany's cartel office regulator said on Monday it had initiated proceedings against payment company PayPal Europe (PYPL.O) over the possibility that it hindered competition. The subject of the proceedings was PayPal's rules for extra charges and the presentation of PayPal in the terms of use for Germany, the watchdog said. "These clauses could restrict competition and constitute a violation of the prohibition of abuse," said cartel office chief Andreas Mundt in a statement. "We will now examine what market power PayPal has and to what extent online merchants are dependent on offering PayPal as a payment method." Changes to Germany's antitrust laws for digital corporations, which came into effect in 2021, give the cartel office more power in identifying and prohibiting some companies' dominant positions.
[1/2] Alec Baldwin arrives at the 2nd Annual NFL Honors in New Orleans, Louisiana, February 2, 2013. REUTERS/Lucy NicholsonJan 23 (Reuters) - Western movie "Rust" will continue filming with Alec Baldwin in the lead role, a lawyer for the production said Monday, days after prosecutors said they would charge the actor in the fatal shooting of the movie's cinematographer Halyna Hutchins. Baldwin will continue to play grandfather Harland Rust while Joel Souza will return as "Rust" director following his wounding in the October 2021 shooting, said Melina Spadone, an attorney for Rust Movie Productions. Baldwin in October reached a settlement of a wrongful-death lawsuit filed by the Hutchins family under which Hutchins would take a production role in "Rust" and filming would resume this month. Baldwin has denied responsibility for the shooting, saying live ammunition should never have been allowed on set and weapons handlers were responsible for firearm safety.
WASHINGTON, Jan 23 (Reuters) - An Arkansas man who famously was photographed putting his feet up on a desk inside then-U.S. House Speaker Nancy Pelosi's office during the Jan. 6, 2021 attack on the Capitol was convicted on eight counts by a Washington jury on Monday, the Justice Department said. A photo of him with his feet propped up on a desk in Pelosi's office went viral in the days following the attack. He also took an envelope from the desk that was addressed to another member of Congress and digitally signed by Pelosi. The jury convicted Barnett of eight crimes, including theft of government property and obstructing an official proceeding. In explaining the famous photograph, he told the jury: “That’s how I sit at my desk at home,” the newspaper reported.
Jan 23 (Reuters) - A federal judge on Monday dismissed a lawsuit by three former Whole Foods employees who said they were illegally fired for opposing the upscale grocery chain's alleged discriminatory discipline of workers who wore "Black Lives Matter" masks. "The evidence demonstrates only that Whole Foods did not strenuously enforce the dress code policy until mid-2020, and that when it increased enforcement, it did so uniformly," she added. Last June, the federal appeals court in Boston upheld Burroughs' February 2021 dismissal of a proposed class action over the dress code, on somewhat different legal grounds than hers. The Black Lives Matter movement started after police killed several Black people in the United States. The case is Kinzer et al v Whole Foods Market Inc, U.S. District Court, District of Massachusetts, No.
The 12-member jury found Oath Keeper members David Moerschel, Joseph Hackett, Roberto Minuta and Edward Vallejo guilty of seditious conspiracy. Seditious conspiracy is a rarely prosecuted Civil War-era law that prohibits plotting to overthrow or destroy the government and carries up to 20 years in prison. A jury found Oath Keepers founder Stewart Rhodes and another Florida-based leader of the group guilty of seditious conspiracy in a separate trial in November. U.S. District Judge Amit Mehta split the Oath Keepers seditious conspiracy case into two separate trials due to space limitations and the risks of COVID-19 contagion. Jurors heard testimony and evidence in the second Oath Keepers case for several weeks.
Companies Deutsche Bank AG FollowJan 23 (Reuters) - The U.S. Supreme Court on Monday turned away appeals by two former Deutsche Bank AG (DBKGn.DE) commodities traders convicted of manipulating precious metals prices by placing "spoof" orders. The pair were convicted in 2020 for carrying out what prosecutors said was a yearslong spoofing scheme between 2008 and 2013. Their trades created a false sense of supply and demand, and induced other traders to make trades they would otherwise not have made, prosecutors said. On appeal, Vorley and Chanu argued they had not made the kind of explicit false statements targeted by wire-fraud law. Circuit Court of Appeals in Chicago upheld the convictions last July, saying that "spoofing of this kind falls under the wire fraud prohibition."
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