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☆ How a California hedge fund bulldozed the state's labor laws to impose some of the harshest noncompetes on Wall Street
▼ + stars: | 2023-10-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +23 min

That's partly why so few quantitative trading firms reside in California, whose labor-friendly laws have long favored employee mobility and competition. Exhibit A: The Voleon Group, a prominent quantitative-trading firm based in Berkeley, California, that manages about $5 billion in assets. The hedge fund has bulldozed past state prohibitions to not just impose noncompetes, but impose some of the harshest noncompetes in the entire industry, according to seven former employees, industry experts, and documents detailing the firm's restrictive covenants. Like so many other quant-trading firms, Voleon took care to protect its edge. Other employees Insider spoke with have a less generous view, with several describing the company as stingy — a third ex-employee bemoaned the company as "notoriously cheap" on compensation.

Persons: Kathy Hochul's, haven't, Michael Kharitonov, Jon McAuliffe, Shaw, — Kharitonov, McAuliffe, Voleon, —, Harry Lipman, Rottenberg Lipman Rich, Lipman, bemoaned, noncompetes, Martin Wainwright, Howard Aiken, Wainwright, hasn't, It's, Jessica Riggin, Rukin Hyland, Riggin, specter, James Hannaway, Sanford Heisler Sharp, Hochul, Rob Bonta, Sen, Anna Caballero, foisting, Caballero, Voleon's Organizations: New, Gov, University of California, Stanford, UC Berkeley, Wall Street, Google, Citadel, Sigma, That's, Big Tech, Darwin, MIT, Berkeley, California, Labor Locations: New York, California, Berkeley , California, University of California Berkeley, Berkeley, Voleon, Delaware, Washington ,

☆ Net neutrality may be US regulators’ next quagmire
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

Jonathan Newton/Pool via REUTERS Acquire Licensing RightsNEW YORK, Sept 26 (Reuters Breakingviews) - U.S. regulators risk another quagmire. The Federal Communications Commission wants to reinstate net neutrality rules that regulate how traffic flows on the internet. As with antitrust enforcers’ often-frustrated deal crackdown, the agency is stuck in a cycle of trying to litigate future problems, today. Regulators are trying to use yesterday’s tools to address the hypothetical problems of tomorrow. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jessica Rosenworcel, Jonathan Newton, ’, Donald Trump, Joe Biden’s, Jennifer Saba, Jonathan Guilford, Sharon Lam, Aditya Sriwatsav Organizations: U.S . Senate Commerce, Science, Transportation Committee, Federal Communications Commission, REUTERS Acquire, Reuters, Verizon Communications, Netflix, Regulators, X, Republicans, Thomson Locations: Washington , U.S, U.S, Ukraine

Trump has slammed the president for the visit, claiming Biden “had no intention” of walking the picket line until Trump said he would make a speech in Michigan. In the absence of an announced plan from the White House, speculation spread through the UAW ranks that Biden would go to whatever picket line was closest to the airport. Amid mounting political pressure to ramp up his public support, Biden is expressing solidarity with the union members, who are striking against the Big Three automakers – General Motors, Ford and Stellantis – for a second week. Union members, once a reliable Democratic voting bloc, have gradually gravitated to Republican candidates, according to CNN polls and the AFL-CIO, the nation’s largest labor federation. The historic presidential picket line appearance will reaffirm his commitment to the critical voting and organizing group ahead of the 2024 election.

Persons: Joe Biden, Donald Trump, Biden, He’s, –, Trump, Biden “, “, ” Biden, I’ve, Karine Jean, Pierre, ” Jean, Shawn Fain, ”, “ We’re Organizations: CNN, United Auto Workers, Trump, Republican, UAW, White, Big Three, –, Motors, Ford, National Labor Relations Board, Union, AFL Locations: Wayne County , Michigan, Washington, Michigan, Detroit

Republican presidential candidate and former President Donald Trump arrives to address the Pray Vote Stand Summit at the Omni Shoreham Hotel on September 15, 2023 in Washington, DC. According to the poll, 62% have either major concerns (52%) or moderate concerns (10%) about Trump facing different criminal and civil trials for alleged wrongdoing, including for trying to overturn the 2020 presidential election. Another 60% have major concerns (45%) or moderate concerns (15%) about Biden's possible awareness or involvement in the business dealings of his son, Hunter, including alleged financial wrongdoing and corruption. And 47% have either major concerns (34%) or moderate concerns (13%) about Trump, at age 77, not having the necessary mental and physical health to be president for a second term. "I would vote third party in protest if it was Trump versus Biden," Chester added.

Persons: Donald Trump, Joe Biden's, Trump, Biden, Bill McInturff, Jeff Horwitt, —, doesn't, Hunter, Mary Lyon, Kevin Chester, Chester Organizations: Omni, NBC News, Democratic, Republican, Hart Research Associates, Trump, Republicans, GOP, Biden aren't, NBC, Arizona Republican, Biden Locations: Washington ,, Fulton County , Georgia, Tucson , Arizona, Arizona

Biden, who spent eight years as Obama's vice president, told a friend that Obama couldn't even curse properly, according to “The Last Politician: Inside Joe Biden’s White House and the Struggle for America’s Future." In private, Biden would “occasionally admit to friends he felt tired," the book says. She said the book was actually praising Biden for helping to push major legislation through Congress and unify global support around Ukraine. "And we’re not going to litigate here.”Foer's book also describes struggles by Vice President Kamala Harris to carve out a role for herself as Biden's No. Foer's book says Biden tried to treat Harris more respectfully than he felt Obama often had treated him as vice president, calling her “the vice president" instead of “my vice president."

Persons: Joe Biden, Barack Obama, Biden, Obama, Joe Biden’s, Franklin Foer, Donald Trump, Biden's, flailing ”, “, Karine Jean, Pierre, ” Jean, ”, Jean, ” “, Kamala Harris, Foer, Harris, Anthony Fauci, Jake Sullivan, Ashraf Ghani, Hillary Clinton, Volodymyr Zelenskyy, Sullivan, Clinton Organizations: WASHINGTON, Harvard, Ardent, White, Central, Taliban, U.S, Marines Locations: Ukraine, Scandinavia, U.S, Mexico, Afghanistan, Kabul

☆ Wells Fargo, a juicy target, sparks lead counsel fight among shareholder firms
▼ + stars: | 2023-09-01 | by ( Alison Frankel | Thomson Reuters | Alison Frankel Has Covered High-Stakes Commercial Litigation As A Columnist For Reuters Since A Dartmouth College Graduate | ) www.reuters.com time to read: +7 min

Meanwhile, yet another plaintiffs' firm, Robbins, is deep into a similar derivative suit against Wells Fargo board members in San Francisco Superior Court. But it’s worth noting that in 2022, Wells Fargo won the dismissal of a previous shareholder derivative suit accusing the board of regulatory compliance failures. Kessler said its complaint, which includes "detailed" and "substantial" references to Wells Fargo internal documents, was more likely to withstand a dismissal motion from the bank. Scott + Scott told Tigar that it had the most up-to-date documents from Wells Fargo because it brought a Section 220 demand after the $3.7 billion CFPB agreement. I would not be surprised to see a rival derivative suit filed in Delaware Chancery Court by one of the shareholder firms spurned by Tigar.

Persons: Cromwell, Wells Fargo, Wells, Robbins Geller Rudman, Dowd, Kessler Topaz Meltzer, Scott, Scott –, They're, Jon Tigar, Robbins, Wells Fargo’s, Kessler Topaz, Kessler, Robbins Geller, Tigar, Robbins Geller didn’t, Randall Baron, board's, Andrew Cheng, Read Organizations: Sullivan, U.S . Consumer Financial Protection Bureau, U.S . Office, Currency, OCC, Wells, U.S, District, San Francisco Superior Court, Tigar, Wells Fargo, San Francisco, Thomson, Reuters Locations: Oakland, Wells Fargo, San Francisco, Wells, San, California, Delaware Chancery

☆ San Francisco Archdiocese files for bankruptcy as it faces more than 500 sexual abuse lawsuits
▼ + stars: | 2023-08-22 | by ( Jamiel Lynch | ) edition.cnn.com time to read: +3 min

CNN —The Archdiocese of San Francisco has filed for Chapter 11 bankruptcy as it faces more than 500 lawsuits alleging child sexual abuse. “We seriously doubt that the Archdiocese of San Francisco does not have the assets to settle these lawsuits,” the Survivors Network of Abuse by Priests said in a statement. The San Francisco filing comes after the Catholic Diocese of Oakland similarly filed for bankruptcy protection in May after it received more than 330 claims of sexual abuse. The Catholic Church as a whole has faced intense criticism over its response to multiple reports detailing decades of sexual abuse, systemic failures and cover-ups across multiple countries. The San Francisco Archdiocese serves more than 440,000 Catholics across the counties of San Francisco, San Mateo and Marin, according to its website.

Persons: Salvatore Cordileone, “, Priests, Cordileone, Pope Francis Organizations: CNN, Archdiocese, Survivors Network, Catholic Diocese of, Catholic, San, SNAP, San Francisco Archdiocese Locations: Archdiocese, San Francisco, California, Francisco, Catholic Diocese of Oakland, CNN Portugal, San Francisco Archdiocese, San Mateo, Marin

☆ Lachlan Murdoch pays over $800,000 in legal fees to Australian publisher after abandoning defamation suit
▼ + stars: | 2023-08-22 | by ( Liam Reilly | ) edition.cnn.com time to read: +3 min

CNN —Lachlan Murdoch, Fox Corporation’s chief executive, paid substantial legal fees to Private Media, which publishes the scrappy Australia-based news outlet Crikey, after abandoning his defamation lawsuit against the outlet. So, $1,306,739 Australian ($839,207.39 US) to cover Private Media’s legal costs, more than the $1.1 million Australian ($705,000 US) that had been sought by the outlet. Private Media, which had crowdfunded its legal defense against Murdoch, pledged to donate $588,735 Australian ($377,555 US) — all of the money it had raised — to the Alliance for Journalists’ Freedom. Will Hayward, the chief executive of Private Media, said he was “delighted” to be able to donate the funds. “This includes campaigning for a Media Freedom Act, supported by a voluntary membership that will recognize quality journalism.”

Persons: Lachlan Murdoch, Fox, John Churchill, Murdoch, Crikey, unindicted, ”, doesn’t, Donald Trump, “, “ Crikey, Mr Murdoch, Churchill, Will Hayward, ” Hayward, Peter Greste Organizations: CNN, Fox Corporation’s, Private Media, Capitol, Fox Corp ., Fox News, Dominion, Systems, Alliance for Journalists ’ Locations: Australia

☆ Hawaii wildfires: Fights over water amid west Maui's charred ruins ignite new fears
▼ + stars: | 2023-08-21 | by ( Bill Weir | ) edition.cnn.com time to read: +4 min

Wailuku, Hawaii CNN —On a Hawaiian tourist brochure, fire and water are selling points for a volcanic paradise where lava flows and waterfalls mist. “There has been a great deal of water conflict on Maui for many years,” Hawaii Gov. “It’s disaster capitalism at its finest.”A rushing canal is seen on Hokuao Pelligrino's family farm in Wailuku on Maui on August 20, 2023. After watching Pellegrino and his Wailuku community litigate their streams back to life, locals around Lahaina followed suit. You restore the water and families are going back to their ancestral land.”Hokuao Pellegrino poses for a portrait on August 20, 2023.

Persons: Josh Green, Green, ” Hokuao Pellegrino, “, ”, Evelio Contreras, Eha, Pellegrino, ’ ”, they’ll, Glenn Tremble, couldn’t, ” Pellegrino, Taro, Joe Biden’s Organizations: Hawaii CNN, ”, Maui Land Company, New York Times, CNN, West Maui Land Company Locations: Wailuku, Hawaii, Lahaina, Maui, ” Hawaii, Venice, Hawaiian Kingdom, West Maui, Maui County

Prosecutors, in asking for the protective order, argued that Trump could otherwise improperly disclose confidential evidence before trial. In a reply brief filed late on Monday, prosecutors said that since they had asked for the protective order, Trump's attorneys had discussed the case on major U.S. television networks. Prosecutors said Trump had a "plan to litigate this case in the media." Prosecutors in their Friday filing said they are prepared to provide Trump with a "substantial amount" of evidence once a protective order is issued. Trump lawyer John Lauro has said he will seek to transfer the 2020 election case from Washington, D.C., to West Virginia.

Persons: Donald Trump, Sam Wolfe, Donald Trump's, Trump, Joe Biden, Tanya Chutkan, Chutkan, Barack Obama, John Lauro, Jacqueline Thomsen, Dan Whitcomb, Scott Malone, Howard Goller, Leslie Adler Organizations: U.S, Republican, REUTERS, Constitution, Prosecutors, U.S . Constitution, Democratic, Trump, Saturday, Name, White, Capitol, Washington , D.C, Thomson Locations: Columbia , South Carolina, U.S, WASHINGTON, Washington, U.S ., Washington ,, West Virginia

☆ ICE cuts tortuous path through frosty trustbusters
▼ + stars: | 2023-08-07 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

A screen displays the logo for Black Knight on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2022. The U.S. Federal Trade Commission agreed on Monday to drop a lawsuit against Intercontinental Exchange’s (ICE.N) $11.7 billion acquisition of mortgage technology provider Black Knight (BKI.N). ICE, as the New York Stock Exchange operator is known, said in May 2022 that it would snap up Black Knight for $13.1 billion. ICE’s Encompass processes nearly half of originations in the United States, with Black Knight’s Empower in second place, according to the FTC. ICE originally said on May 4, 2022, that it had agreed to buy Black Knight for $13.1 billion.

Persons: Knight, Brendan McDermid, Black, Lina Khan, Khan, litigate, Black Knight, Jeffrey Goldfarb, Oliver Taslic Organizations: New York Stock Exchange, REUTERS, Reuters, U.S . Federal Trade Commission, Intercontinental, Black, FTC, ICE, UnitedHealth, Change Healthcare, Exchange, Constellation Software, Thomson Locations: New York City, U.S, United States

☆ Casey DeSantis hits back at reports calling her 'Walmart Melania': 'I do shop at Walmart'
▼ + stars: | 2023-07-21 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +3 min

An opinion piece published by The Daily Beast referred to Casey DeSantis as "the Walmart Melania." In a "Fox & Friends" interview on Thursday, Florida's first lady brushed off the criticism. In Thursday's interview, "Fox & Friends" host Ainsley Earhardt asked Casey how she deals with the criticism. Ron DeSantis, his wife, Casey DeSantis, and their children Mason, Madison, and Mamie during his inauguration ceremony outside the Old Capitol on January 3, 2023, in Tallahassee, Florida. Lynne Sladky/AP"One thing that the corporate media did get right about me, I do shop at Walmart," Casey DeSantis said.

Persons: Casey DeSantis, Florida's, Karen, Ron DeSantis, Katie Baker, Melania, Jonathan Capehart, David Jolly, Casey, Earhardt, Mason, Mamie, Lynne Sladky, Alex Perry, DeSantis, Trump, Dior, Jackie Kennedy, haven't Organizations: Daily, Walmart, Fox, Service, Florida Gov, Fox &, MSNBC, GOP Florida Rep Locations: Wall, Silicon, Florida, Madison, Tallahassee , Florida

☆ GOP presidential candidate Tim Scott says the 2020 election wasn't 'stolen,' but contends that 'there was cheating'
▼ + stars: | 2023-07-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

GOP Sen. Tim Scott said the 2020 election wasn't "stolen," but feels that "there was cheating." Scott made the comments while stumping in Iowa as he seeks the GOP presidential nomination. Some Republicans have urged the party to move on from Trump's election claims ahead of 2024. "I do not believe the election was stolen," Scott said during a town hall meeting in Davenport, Iowa. While Scott is directly challenging Trump for the GOP presidential nomination, both men have long had a friendly relationship.

Persons: Sen, Tim Scott, Scott, Joe Biden, Donald Trump, Trump, litigate, —, Tim, Ron DeSantis Organizations: Republicans, Service, NBC, South Carolina, Trump, The New York Times, Republican, Florida Gov Locations: Iowa, Wall, Silicon, Davenport , Iowa

☆ FTX customers who lost all their money when the exchange collapsed should blame the SEC, Mark Cuban says
▼ + stars: | 2023-07-05 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +2 min

FTX customers who lost all their money when the exchange collapsed should blame the Securities and Exchange Commission, according to Mark Cuban. "Of course they chose to litigate to regulate," Cuban said. FTX filed for bankruptcy in November after a bombshell report sparked a run on its deposits, with its collapse wiping out billions of dollars worth of customers' money. "When FTX crashed, no one in FTX Japan lost money," Cuban wrote. "If the USA/SEC had followed their example by setting clear regulations that required the separation of customer and business funds and clear wallet requirements, no one here would have lost money on FTX," he added.

Persons: Mark Cuban, Cuban, —, FTX, Sam Bankman Organizations: Securities and Exchange Commission, SEC, Service, Dallas Mavericks Locations: Japan, FTX Japan, USA

☆ A Delaware city wants to let businesses vote in its elections. It just cleared a key hurdle, but it’s faced pushback
▼ + stars: | 2023-06-30 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

Letting businesses vote in municipal elections dilutes the voice of the citizenry and “puts the idea that corporations are people on steroids,” said its executive director, Claire Snyder-Hall. Seaford proposal meets resistanceThe latest Delaware municipality to propose letting businesses vote in its local elections is the city of Seaford, with roughly 8,500 residents. Grenshaw said he never expected that to be a problem, since four other municipalities had no trouble getting approval for their decision to let businesses vote in the past. How influential could that be in future Seaford elections? The city clerk’s office would conduct a series of annual cross-checks to ensure that a business currently owns property in the city.

Persons: “, ”, Claire Snyder, Seaford Mayor David Grenshaw, ” Grenshaw, Grenshaw, Snyder, Hal Weitzman, Weitzman Organizations: CNN, Hall, DuPont, Seaford Mayor, Verizon, Delaware General Assembly, The News, Rich, University of Chicago’s Booth School of Business, Fortune Locations: United States, Delaware, Seaford, it’s, America

☆ Prosecutors request Trump's classified documents trial be delayed until December
▼ + stars: | 2023-06-24 | by ( Ginger Gibson | ) www.cnbc.com time to read: +2 min

Prosecutors from special counsel Jack Smith's office have requested that former President Donald Trump's criminal trial for alleged mishandling of classified documents be delayed until December, according to a court filing on Friday. But prosecutors said more time is needed before the trial can begin and requested that the trial be delayed until Dec. 11. Trump is accused of mishandling classified documents that he took with him after leaving the White House. The Classified Information Procedures Act provides a set of guidelines to allow classified documents to be used in a trial. The filing detailed a proposed timeline to allow both sides to litigate how classified documents will be addressed during the trial.

Persons: Donald Trump, Jack Smith's, Donald Trump's, Aileen Cannon, isn't, Trump, Prosecutors, Walt Nauta Organizations: U.S, GOP, Columbus Convention, Trade Center, Prosecutors, White Locations: Georgia, Columbus , Georgia, Iowa, New York City, Miami

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

☆ Mark Cuban slams the SEC and says the Coinbase suit shows why no one trusts them
▼ + stars: | 2023-06-08 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Mark Cuban slammed the SEC's decision to sue Coinbase this week. The famed investor said the regulator could have helped the exchange comply instead of sue. The SEC this week sued Coinbase and Binance for allegedly operating illegally in the US. "They don't want to help companies get to compliance they want to challenge them to get to compliance," Cuban wrote. On Tuesday, the SEC unveiled its lawsuit against Coinbase, a day after it sued Binance and its CEO, Changpeng Zhao.

Persons: Mark Cuban, Coinbase, —, doesn't, SEC didn't, Binance, Changpeng Zhao, Gary Gensler Organizations: SEC, Service, Securities, Exchange, Twitter, Coinbase Locations: Cuban

☆ Merck sues US government to halt Medicare drug price negotiation
▼ + stars: | 2023-06-06 | by ( Michael Erman | ) www.reuters.com time to read: +4 min

NEW YORK, June 6 (Reuters) - Merck & Co (MRK.N) sued the U.S. government on Tuesday, seeking to halt the Medicare drug price negotiation program contained in the Inflation Reduction Act (IRA), which it argues is violates the Fifth and First Amendments to the U.S. Constitution. The Biden administration's drug pricing reform aims to save $25 billion annually by 2031 through price negotiations for Medicare. Merck called the talks with CMS coercive and forces drugmakers to participate in "political Kabuki theater" by pretending negotiations are voluntary. The first ever Medicare drug price reduction process is due to begin in September when CMS identifies its 10 most costly drugs. Merck's top selling drug, cancer immunotherapy Keytruda, could be subject to negotiations as soon as 2028.

Persons: drugmakers, Merck, Ameet, Robin Feldman, Wells, Mohit Bansal, Xavier Becerra, Chiquita Brooks, Michael Erman, Patrick Wingrove, Edwina Gibbs, Nick Zieminski Organizations: YORK, Merck & Co, U.S, U.S . Constitution, Biden, Medicare, District of Columbia, Merck, Reuters, CMS, Harvard Medical School, UC College of the, Supreme, U.S . Department of Health & Human Services, Centers, Medicaid Services, LaSure, HHS, Thomson Locations: U.S ., U.S, San Francisco

June 5 (Reuters) - Cryptocurrencies and shares in crypto and blockchain-related companies tumbled on Monday after the U.S. securities regulator sued crypto exchange Binance, another blow to the industry. The SEC crackdown has prompted some crypto companies to increase compliance, spike products, and expand overseas, moves that some marketwatchers said would likely be accelerated by this latest action against the world's largest crypto exchange. In April, the SEC charged crypto exchange Bittrex Inc with operating an unregistered securities exchange, broker and clearing agency, and settled with Kraken in February for $30 million over the exchange's U.S. crypto staking service. Shares of Coinbase (COIN.O) were down 9.1% on the news of the SEC's charges against Binance. Both Coinbase and crypto exchange Gemini launched international exchanges for crypto derivatives in May.

Persons: Binance, Changpeng Zhao, Binance's cryptocurrency, Gary Gensler, marketwatchers, John Reed Stark, Kraken, Bittrex, James Angel, Gemini, Rajeev Bamra, Sinéad Carew, John McCrank, Manya Saini, Hannah Lang, Michelle Price, Leslie Adler, Lisa Shumaker Organizations: U.S . Securities, Exchange Commission, Reuters, SEC, Washington , D.C, Internet, Coinbase Global Inc, Georgetown University, Binance, Inc, Marathon, Mining, Moody’s Investors Service, Thomson Locations: Washington ,, U.S, New York, Bengaluru, Washington

☆ Why the Trump tape is so important for the documents investigation
▼ + stars: | 2023-06-02 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +13 min

The main takeaway for me: prosecutors must determine if classified information meets a sort of Goldilocks test. It is about criminalizing (the information) being kept outside of a protected area, even by somebody who is allowed to have classified information. … All of the discussion has been about how Trump and others may have handled documents after knowing there’s a criminal investigation that exists. We know there’s an obstruction of justice investigation around that. A key thing in an obstruction of justice investigation is knowing that there’s a proceeding that you could potentially be obstructing, like a criminal investigation.

Persons: Donald Trump’s Mar, Trump, Katelyn, we’ve, – that’s, It’s, there’s, he’s, they’ve, We’re, Donald Trump, Margo Martin, … Trump, Bob Woodward, Woodward, WOLF, I’m, Mark Milley, …, Mueller, There’s, Justice Department won’t Organizations: CNN, White, Fox News, Justice Department, Trump, FBI, Joint Chiefs, Staff Locations: Lago, Iran, CNN’s Washington, New Jersey, Bedminster, Mar, Florida, POLANTZ, Washington , DC, what’s, Russia, Durham, litigate

☆ Google's patents cover tech in ChatGPT. But fighting rivals in court isn't worth it, legal experts say.
▼ + stars: | 2023-05-26 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +5 min

Google invented AI technology like the Transformer, which led to breakthroughs in the chatbot race. Essentially, outside researchers gain access to a piece of AI technology from Google and continue iterating on it, which in turn benefits Google's own products. Several experts in patent law spoke to Insider about Google's AI patents, namely why it hasn't used them against competitors and whether it even could. Technical and legal questions aside, it would be somewhat hypocritical for Google to sue anyone for infringing its AI patents. Patent warsLegal experts pointed to the idea of "mutually assured destruction" to explain why tech companies would file patents without enforcing them offensively.

Persons: hasn't, Matthew D'Amore, Idong Ebong, Nixon Peabody Organizations: Google, Cornell University, Big Tech, Microsoft, Samsung, Apple, HTC, IBM Locations: OpenAI, ChatGPT

☆ Private equity is being squeezed from all sides
▼ + stars: | 2023-05-12 | by ( Edward Chancellor | ) www.reuters.com time to read: +8 min

But this time around there’s a lot more private equity money chasing a limited number of opportunities. So private equity funds could face the prospect of a prolonged period of higher borrowing costs, lower valuations, and depressed investment returns. The birth of private equity coincided with the Reagan administration’s policy of relaxing regulations and tax cuts. Recent high profile corporate bankruptcies owned by private equity include car-rental firm Hertz and retailer Toys R Us. The private equity industry could soon find itself caught in a pincer, between tighter financing on the one hand and tighter regulation on the other.

☆ Lawyer for Tiger Woods' ex-girlfriend, Erica Herman, alleges in court she has more details about sexual harassment claims against the golfer but says NDA is keeping her silent
▼ + stars: | 2023-05-09 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +8 min

Under the federal law, judges can rule NDAs unenforceable in instances of sexual harassment or assault. Herman has alleged sexual harassment occurred during her relationship with Woods, both in how it started and how it ended. They've asked for the lawsuit to be dismissed and called the sexual harassment claims "utterly meritless." "A boss imposing different work conditions on his employee because of their sexual relationship is sexual harassment," Herman's attorneys argue in the court filing. She was then locked out of the house, away from her personal property and pets, court documents allege.

The landlord's filing was posted to the District of Columbia Superior Court docket on Monday. Crowell's lawsuit, filed in March, marked a fresh clash between a law firm and its landlord over pandemic-era rent. TREA said in its motion to dismiss the lawsuit that the lease's rent abatement provision is "expressly tied to specific events resulting from the loss of certain utilities." The case is Crowell & Moring v. The TREA 1001 Pennsylvania Avenue Trust, District of Columbia Superior Court, No. Read more:Law firm Crowell sues to recoup $30 mln in COVID-era rentLaw firm office leasing drops again after reboundJenner, Chicago landlord end lawsuits over unpaid rentOur Standards: The Thomson Reuters Trust Principles.

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