DIRS.INFO The most relevant business & tech news

Companies Airbus SE FollowWASHINGTON, July 28 (Reuters) - The Justice Department on Friday asked a U.S. judge to dismiss a 2020 criminal case against European planemaker Airbus (AIR.PA) after more than three years. A 2020 deferred prosecution agreement resolved an investigation into charges Airbus violated anti-bribery laws and export controls. The planemaker paid about $4 billion worldwide including about $582 million in U.S. penalties. Under the deal, Airbus agreed to continue to cooperate with the department in any ongoing investigations and prosecutions relating to the conduct and to enhance its compliance program. Reporting by David Shepardson; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: David Shepardson, Conor Humphries Organizations: Airbus, Justice Department, European, European Union, Thomson Locations: WASHINGTON, United States

July 27 (Reuters) - A high-profile lawsuit by a California woman who claimed that Subway's tuna products contain ingredients other than tuna has been dismissed. The Oakland, California-based judge will rule later on Subway's request that Amin's lawyers be sanctioned for bringing a frivolous class action. Amin claimed to have ordered Subway tuna products more than 100 times before suing in January 2021, claiming that its tuna sandwiches, salads and wraps included other fish species, chicken, pork and cattle, or no tuna at all. Subway also faulted Amin's "ever-changing" theories to debunk its claim that its tuna products were "100% tuna." In opposing sanctions, Amin's lawyers said she had a "good faith, non-frivolous basis based on testing and evidence that there was something amiss" with Subway tuna.

Persons: Nilima Amin, Jon Tigar's, Amin, Amin's, Tigar, Jonathan Stempel, Jamie Freed Organizations: U.S, District, Subway, Court, Northern District of, Thomson Locations: California, Oakland , California, U.S, Northern District, Northern District of California

July 27 (Reuters) - Epic Games on Thursday asked the U.S. Supreme Court to allow a lower court ruling to take effect against Apple Inc (AAPL.O) that could force the iPhone maker to change payment practices in its App Store. Circuit Court of Appeals to pause its ruling that upheld an injunction against Apple. The decision gave Apple 90 days to pursue an appeal at the Supreme Court. In the closely-watched case, Epic filed its antitrust lawsuit in 2020 challenging Apple's App Store practices. Epic told the Supreme Court on Thursday that the 9th Circuit's standard for putting cases on hold is "far too lenient."

Persons: Apple, Andrew Chung, John Kruzel, Daniel Wallis Organizations: U.S, Supreme, Apple Inc, San, Circuit, Appeals, Apple, Thomson Locations: San Francisco, United States, New York, Washington

☆ Bankman-Fried campaign finance charge dropped, lessening trial's political focus
▼ + stars: | 2023-07-27 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

He got a modest victory on Wednesday night when prosecutors decided to drop a campaign finance charge claiming the former billionaire illegally directed associates to donate millions of dollars to political campaigns. Mark Kasten, a lawyer at Buchanan Ingersoll & Rooney in Philadelphia, said dropping the campaign finance charge could help Bankman-Fried by letting his lawyers "focus their narrative" on the fraud case. "Jurors have a visceral reaction to campaign finance charges: campaign finance charges are crimes on the public, and jurors themselves are indirect victims," he said. Ellison, the former chief executive of Bankman-Fried's crypto-focused hedge fund Alameda Research, pleaded guilty to fraud charges and is expected to testify against him. Nishad Singh, FTX's former director of engineering, pleaded guilty to fraud and campaign finance charges, saying he used transfers from Alameda to make political donations in part to bolster Bankman-Fried's and FTX's political influence.

Persons: Buchanan Ingersoll, Rooney, Sam Bankman, Caroline Ellison, FTX, Fried, Bankman, Mark Kasten, Ellison, Nishad Singh, FTX's, Gary Wang, Luc Cohen, Chris Reese Organizations: New York Times, U.S, Bankman, Alameda Research, Thomson Locations: Manhattan, Bahamas, Philadelphia, Alameda, New York

NEW YORK, July 27 (Reuters) - Bill Hwang, the founder of Archegos Capital Management, on Thursday asked a judge to let him subpoena documents from 10 banks, in an effort to shift blame as he defends against criminal fraud charges that the firm's collapse was his fault. The office of U.S. Attorney Damian Williams, which is prosecuting Hwang, did not immediately respond to a request for comment. Other banks also lost money when Archegos collapsed, but less than Credit Suisse. That caused it to miss margin calls, and banks to dump stocks that had backed the swaps and which they had bought as hedges. The case is U.S. v. Hwang et al, U.S. District Court, Southern District of New York, No.

Persons: Bill Hwang, Hwang, Damian Williams, Archegos, Goldman Sachs, Jefferies, Mitsubishi UFJ, Morgan Stanley, Nomura, Alvin Hellerstein, Hwang et, Jonathan Stempel, Daniel Wallis Organizations: YORK, Archegos Capital Management, UBS, Credit Suisse, Prosecutors, Bank of Montreal, Deutsche Bank, Mitsubishi, Court, Southern District of, Thomson Locations: Manhattan, Macquarie, Mizuho, U.S, Southern District, Southern District of New York, New York

The proposed deal would provide funds over a 13-year period to cities, towns and other public water systems to test and treat contamination of PFAS. They also said the deal could shift liability for future health concerns caused by PFAS from 3M onto the water systems themselves. That means the chemical maker could potentially seek compensation from the water systems in future litigation over things like PFAS-related cancer clusters, the states said. 3M, which is facing thousands of lawsuits over PFAS contamination, did not admit liability in the proposed settlement. It said in June that the money will help support remediation at public water systems that detect PFAS "at any level."

Persons: Scott Summy, “, Rob Bonta, Richard Gergel, Clark Mindock, Amy Stevens, Aurora Ellis, Diane Craft Organizations: 3M, District of Columbia, PFAS, U.S, District, New, U.S . Chamber, Environmental Protection Agency, EPA, Thomson Locations: U.S, California, Texas , New York, South Carolina, United States, New York State

☆ US judge tightens Sam Bankman-Fried's bail, will consider jailing him
▼ + stars: | 2023-07-26 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

[1/2] Indicted FTX founder Sam Bankman-Fried walks outside at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File PhotoNEW YORK, July 26 (Reuters) - A U.S. judge on Wednesday tightened Sam Bankman-Fried's bail conditions, restricting his ability to communicate publicly, and will consider jailing him ahead of his trial over the collapse of his FTX cryptocurrency exchange. "I'm very mindful of the government's interest in this issue, which I take seriously," Kaplan said at a hearing in Manhattan federal court. Ellison, also Alameda's former chief executive, has pleaded guilty to fraud charges and agreed to cooperate with prosecutors. Reporting by Luc Cohen in New York; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Amr Alfiky, District Judge Lewis Kaplan, Fried, Caroline Ellison's, Kaplan, Mark Cohen, FTX, Ellison, Luc Cohen, Daniel Wallis Organizations: FTX, United, REUTERS, U.S, District, Alameda Research, Thomson Locations: New York City, U.S, Manhattan, Palo Alto , California, Bahamas, New York

BOSTON, July 26 (Reuters) - The U.S. Department of Justice on Wednesday urged a judge to restrict JetBlue Airways (JBLU.O) and American Airlines (AAL.O) from entering into any partnerships with other carriers akin to their now-scrapped Northeast Alliance, which the judge deemed anticompetitive. JetBlue and American Airlines are winding down their arrangement announced in 2020, in which they joined forces for flights in and out of New York City and Boston. JetBlue subsequently decided to terminate the alliance, while preparing to defend a planned $3.8 billion purchase of Spirit Airlines (SAVE.N) in court in a separate Justice Department antitrust case seeking to block that deal. While the Northeast Alliance is set to be fully wound down by January, the Justice Department has been pushing for further restrictions on the companies. Daniel Wall, a lawyer for American Airlines, called the appointment of monitor highly unusual and said restrictions on deals with other airlines was a step too far.

Persons: Leo Sorokin, William Jones, Sorokin, Jones, Daniel Wall, Wall, Department's, Nate Raymond, Richard Chang Organizations: BOSTON, U.S . Department of Justice, Wednesday, JetBlue Airways, American Airlines, Alliance, JetBlue, Boston . U.S, District, Justice Department, Spirit Airlines, Department, Northeast Alliance, Thomson Locations: New York City, Boston ., Boston

NEW YORK, July 25 (Reuters) - Joe Lewis, the British billionaire and owner of the Tottenham Hotspur soccer team, has been criminally charged in New York for orchestrating a "brazen" insider trading scheme. Joe Lewis is a wealthy man," U.S. Attorney Damian Williams said in a video on the X social media platform, formerly known as Twitter. Insider trading has long been a focus of Williams' office, dating to 2009 when a crackdown began under one of his predecessors, Preet Bharara. Prosecutors said that in some insider trading cases, Lewis lent money to recipients of his tips, including in Oct. 2019 when he wired $1 million to two pilots so they could buy more Mirati shares. Reporting by Jonathan Stempel and Luc Cohen in New York; Editing by Chris Reese and Lincoln Feast.

Persons: Joe Lewis, Lewis, Damian Williams, " Williams, Williams, Preet Bharara, Mirati, Boss, Marty, JPMorgan Chase, Jonathan Stempel, Luc Cohen, Chris Reese, Lincoln Organizations: YORK, Tottenham Hotspur, Prosecutors, U.S, Tavistock Group, Forbes, Therapeutics, Biosciences, Australian Agricultural, U.S . Securities, Exchange Commission, JPMorgan, Thomson Locations: New York, Tavistock, Bear Stearns

July 25 (Reuters) - The U.S. Federal Trade Commission (FTC) is finalizing its long-awaited antitrust lawsuit against Amazon (AMZN.O) in a move that could ultimately break up parts of the company, Politico reported on Tuesday. The complaint could focus on challenges to Amazon Prime, Amazon rules that the FTC says block lower prices on competing websites, and policies it believes force merchants to use Amazon's logistics and advertising services, the report said. Politico did not mention the exact details of the final lawsuit, but said personnel throughout the agency, including FTC Chair Lina Khan, have homed in on several of Amazon's business practices. The FTC declined to comment and Amazon did not immediately respond to Reuters requests for comment. Last month, the FTC accused Amazon of enrolling millions of consumers into its paid subscription Amazon Prime service without their consent and making it hard for them to cancel.

Persons: Andy Jassy, Jeff Bezos, Lina Khan, Shivani Tanna, Arun Koyyur, Subhranshu Organizations: U.S . Federal Trade Commission, Amazon, Politico, Amazon Prime, FTC, Thomson Locations: Bengaluru

July 26 (Reuters) - The Biden administration has asked a federal appeals court to lift an order sharply curbing government officials' communications with social media companies as a lawsuit accusing U.S. officials of seeking to censor certain views about COVID-19 and other topics online makes its way through the courts. Circuit Court of Appeals, the administration argued that a lower court judge's July 4 decision was overly broad and would hurt the government's ability to fight misinformation on platforms in a crisis. "The government cannot punish people for expressing different views," lawyers for U.S. President Joe Biden's administration wrote. The government must be allowed to seek to persuade people of its views, even where those views are the subject of controversy." His preliminary order came in a lawsuit filed by Republican attorneys general in Louisiana and Missouri.

Persons: Biden, Joe Biden's, Terry Doughty, Joe Biden, Donald Trump, Brendan Pierson, Susan Heavey Organizations: U.S, New, Circuit, Appeals, District, Facebook, YouTube, Democratic, Republican, Department of Health, Human Services, Federal Bureau of, Thomson Locations: New Orleans, U.S, Monroe , Louisiana, Louisiana, Missouri, New York

☆ Puerto Rican bank sues NY Fed for suspending account in Venezuela-linked crackdown
▼ + stars: | 2023-07-25 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

The bank asked the court to bar the New York Fed from terminating its master account, without which it said it "cannot effectively function as a depository institution." A spokesperson for the New York Fed declined to comment. Federal prosecutors dismissed a civil forfeiture complaint and returned $53 million in seized funds to the bank. The New York Fed in 2019 said it would stop approving master accounts for some Puerto Rican banks due to U.S. sanctions on Venezuela aimed at ousting socialist President Nicolas Maduro, Reuters reported at the time. The bank said its founder, Marcelino Bellosta, has lived in the United States and Europe for much of the last 25 years.

Persons: BSJI, Nicolas Maduro, Marcelino Bellosta, Luc Cohen, Grant McCool Organizations: Banco San Juan, Inc, New York Federal, Banco, Banco San Juan Internacional, New York, New York Fed, Reuters, Thomson Locations: Puerto Rican, U.S, Venezuela, Banco San, Manhattan, York, Puerto, Venezuelan, United States, Europe, New York

JPMorgan countered that the U.S. Virgin Islands was also to blame for allowing Epstein's sexual abuse of young women and teenage girls, saying the territory used its powers to enable these crimes. The U.S. Virgin Islands is suing JPMorgan for at least $190 million, saying the bank ignored red flags about Epstein because he was a wealthy and lucrative client from 1998 to 2013. Ahead of a scheduled Oct. 23 trial, the U.S. Virgin Islands wants a judge to declare that JPMorgan participated in Epstein's sex trafficking and obstructed law enforcement. The U.S. Virgin Islands has already received more than $105 million from Epstein's estate, and reached a settlement with billionaire Leon Black, a former Epstein friend. The case is U.S. Virgin Islands v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Persons: Jeffrey Epstein, Epstein, Ghislaine Maxwell, Mary Erdoes, Frick, Erdoes, Leon Black, JPMorgan, Jonathan Stempel, Stephen Coates Organizations: YORK, U.S . Virgin Islands, JPMorgan Chase, JPMorgan, U.S . Virgin, U.S ., New, Virgin, JPMorgan Chase Bank NA, U.S, Court, Southern District of, Thomson Locations: U.S, Manhattan, U.S . Virgin, New York, Southern District, Southern District of New York, Bengaluru

NEW YORK, July 25 (Reuters) - The billionaire investor Leon Black was sued on Tuesday by an autistic woman who says he raped her in the disgraced financier Jeffrey Epstein's mansion in Manhattan in 2002, when she was 16. Black co-founded private equity firm Apollo Global Management (APO.N), which he left in 2021. Black has denied other sexual abuse accusations, including in a dismissed lawsuit by former Russian model Guzel Ganieva, and a lawsuit by Cheri Pierson who also claimed he raped her in Epstein's home two decades ago. The billionaire has also reached a $62.5 million settlement with the U.S. Virgin Islands, where Epstein had a home, to avoid a possible lawsuit. The case is Doe v Black, U.S. District Court, Southern District of New York, No.

Persons: Leon Black, Jeffrey Epstein's, Jane Doe, Black, Epstein, Ghislaine Maxwell, Susan Estrich, Estrich, Doe, massages, Jeanne Christensen, Cheri Pierson, Jonathan Stempel, Kanishka Singh, Daniel Wallis Organizations: YORK, Apollo Global Management, Forbes, U.S ., Court, Southern District of, Washington , D.C, Thomson Locations: Manhattan, New York City, Russian, U.S . Virgin Islands, U.S, Southern District, Southern District of New York, New York, Washington ,

[1/2] Judge Elizabeth Scherer reads the verdict in the trial of Marjory Stoneman Douglas High School shooter Nikolas Cruz at the Broward County Courthouse in Fort Lauderdale, Florida, U.S., October 13, 2022. Amy Beth Bennett/South Florida Sun Sentinel/Pool via REUTERS/File PhotoJuly 25 (Reuters) - Florida's top court has publicly reprimanded the judge who presided over the trial of Nikolas Cruz, who killed 17 people at Marjory Stoneman Douglas High School in Parkland in 2018, for appearing partial to the prosecution. Monday's decision by the Florida Supreme Court came after the 15-member Judicial Qualifications Commission concluded in June that Broward County Circuit Judge Elizabeth Scherer violated judicial conduct rules during last year's trial. Her decision to hug members of the prosecution and the victims’ families in the courtroom after sentencing Cruz in November prompted the Florida Supreme Court to remove her from another death penalty case involving a different defendant, Randy Tundidor, in April. Scherer admitted her treatment of defense lawyers was times not patient or dignified, though she said she offered to embrace defense counsel too, according to court records.

Persons: Elizabeth Scherer, Marjory Stoneman, Nikolas Cruz, Amy Beth Bennett, Cruz, Scherer, Randy Tundidor, Nate Raymond, William Maclean Organizations: Marjory Stoneman Douglas High, South Florida Sun Sentinel, Marjory Stoneman Douglas High School, Florida Supreme, Broward, Circuit, Parkland, Thomson Locations: Broward, Fort Lauderdale , Florida, U.S, South, Parkland, Florida, Boston

In an order on Monday, the appeals court denied Musk's request that the panel or all 13 active judges revisit the case. Alex Spiro, a lawyer for Musk, confirmed on Tuesday that Musk plans an appeal to the Supreme Court. In its May 15 decision, the appeals court panel said Musk could not revisit the screening of tweets because he had "changed his mind." "Supreme Court law holds otherwise." The Supreme Court typically hears oral arguments in about 70 of the approximately 5,000 cases it reviews each year.

Persons: Elon Musk, Alex Spiro, Musk, tweeting, Jonathan Stempel, Jonathan Oatis Organizations: Tesla, Supreme, Securities and Exchange Commission, U.S, Circuit, SEC, Twitter, Thomson Locations: U.S, Manhattan, New Orleans, New York

A person familiar with the matter said he was Rajaratnam, who was sentenced in 2011 to 11 years in prison and was released early in 2019. Starting in 2018, Tidwell began receiving undisclosed benefits from Rajaratnam and a close friend and business associate of Rajaratnam, according to charging papers and the person familiar with the matter. Later, after Rajaratnam was released from prison, Tidwell in 2020 received a $50,000 loan from the onetime inmate's friend to buy a house. Prosecutors said he lied on a bank loan application about the source of that money. Reporting by Nate Raymond in Boston; Editing by David Bario and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Raj Rajaratnam, William Tidwell, Rajaratnam, Prosecutors, Goldman Sachs, Tidwell, Samidh Guha, Rajaratnam's, Brad Bailey, Nate Raymond, David Bario, Chris Reese Organizations: eBay, Galleon Group, Federal Medical Center Devens, Google, Thomson Locations: BOSTON, Massachusetts, Boston, Ayer , Massachusetts, York

A spokesperson for Covington said the firm will "review the decision carefully and consider any next steps in consultation with our affected clients." Any final outcome could make it easier for the government to get information on law firm clients in the future, and law firms warn it could chill cooperation between the private sector and authorities investigating cyberattacks. The SEC had sought the names of all the nearly 300 companies affected, but Covington resisted identifying any clients. The agency said it needed the names to probe for securities law violations associated with the attack, arguing that Covington’s law firm status did not shield it from cooperating. Covington told the court a law firm’s clients are part of a “zone of privacy” protected by the U.S. Constitution and legal ethics rules.

Persons: Burling, Judge Amit Mehta, Covington, cyberattacks, Mehta, Andrew Goudsward, David Bario, Susan Heavey Organizations: Covington, Burling, U.S . Securities, Exchange Commission, U.S, SEC, Circuit U.S, of, Thomson Locations: Covington, Washington

[1/3] Starbucks workers attend a rally as they go on a one-day strike outside a store in Buffalo, New York, U.S., November 17, 2022. REUTERS/Lindsay DeDarioNEW YORK, July 24 (Reuters) - Starbucks (SBUX.O) violated U.S. labor law by firing a Manhattan store supervisor who had organized workers to join a union, a federal labor board judge ruled on Monday. The National Labor Relations Board established "striking and strong evidence of animus" behind Starbucks' termination of Rhythm Heaton as a shift supervisor at its Astor Place store, NLRB Administrative Law Judge Benjamin Green wrote. Green found it "particularly suspicious" that Starbucks would risk violating the law "by discharging an excellent employee at a time when the short-handed Astor Place store was already advertising to hire another shift supervisor." The manager of the Astor Place store testified that he supported the union and considered Heaton an "amazing leader," but cited Heaton's alleged violation of Starbucks' "attendance and punctuality policy" in the termination notice.

Persons: Lindsay DeDario, Rhythm Heaton, Benjamin Green, Green, Astor, Heaton, Heaton's, Jonathan Stempel, Bill Berkrot, Sonali Paul Organizations: REUTERS, National Labor Relations Board, Starbucks, Workers, Workers United, Thomson Locations: Buffalo , New York, U.S, Manhattan, Astor, Washington, Seattle, United States, New York

July 23 (Reuters) - Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors' claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case. The letter, released on Sunday, came after prosecutors sought to bar Bankman-Fried and allies from making public statements that could interfere with the case. Cryptocurrency exchange FTX, once valued at $32 billion, filed for bankruptcy protection in November as it was unable to repay depositors. Ellison led Bankman-Fried's Alameda Research hedge fund and has pleaded guilty to defrauding investors and agreed to cooperate with prosecutors. In December, Bankman-Fried said he and Ellison had been in a relationship but gave no further details.

Persons: Sam Bankman, Fried, Caroline Ellison, Mark Cohen, Ellison, Mrinmay Dey, Christopher Cushing Organizations: New York Times, U.S ., Star, Alameda Research, Thomson Locations: Bankman, Alameda

Companies AMC Entertainment Holdings Inc FollowJuly 23 (Reuters) - AMC Entertainment's (AMC.N) chief executive officer on Sunday said the company filed a revised petition for a stock conversion plan that would allow the company to issue more shares. Aaron also mentioned that in a March 14 special election a majority of the AMC common shareholders and preferred shareholders supported his views on the stock conversion. Delaware Vice Chancellor Morgan Zurn on Friday denied approval as the deal would also settle potential claims by preferred shareholders who were not represented in the lawsuit. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. The settlement's backers want Zurn to weigh the new version of the deal without seeking additional comment from AMC shareholders, according to a Bloomberg news report.

Persons: Adam Aaron, Aaron, Chancellor Morgan Zurn, Shubhendu Deshmukh, Chris Reese Organizations: AMC Entertainment Holdings, AMC, Sunday, Delaware Court, Delaware, Bloomberg, Thomson Locations: Delaware, Bengaluru

July 21 (Reuters) - Apollo Global Management Inc (APO.N) co-founder Leon Black paid $62.5 million to the U.S. Virgin Islands to avoid any legal claims tied to a Jeffrey Epstein sex-trafficking investigation, the New York Times reported on Friday. The Times obtained a copy of the settlement agreement from the Virgin Islands government through a public records request. A spokesperson for Black confirmed in an emailed statement to Reuters that Black had settled with the Virgin Islands, noting that there was no suggestion in the settlement "that Mr. Black was aware of or participated in any misconduct." The spokesperson went on to say that, as previously known, Black had paid Epstein for "legitimate financial advisory services" and that Black had "resolved the (Virgin Island's) potential claims arising out of the unintended consequences of those payments." A New York state judge in May dismissed a lawsuit accusing Black, 71, of defaming a woman by falsely claiming she tried to extort him after accusing him of rape, which he denied.

Persons: Leon Black, Jeffrey Epstein, Black, Epstein, Epstein's, Cheri Pierson, Brad Brooks, Rosalba O'Brien Organizations: Apollo Global Management Inc, U.S . Virgin, New York Times, Times, Virgin, JPMorgan Chase, Forbes, Thomson Locations: U.S, Virgin, Islands, York, defaming, Epstein's, Manhattan, Lubbock , Texas

Companies AMC Entertainment Holdings Inc FollowJuly 21 (Reuters) - A judge on Friday blocked a proposed settlement on AMC Entertainment Holdings' (AMC.N) stock conversion plan that would allow the company to issue more shares, sending its common shares soaring and preferred shares down in after-hours trading. AMC shares were up 69% at $7.44 in trading after the bell. The company was sued in February for allegedly rigging a shareholder vote that would allow AMC to convert preferred stock to common stock and issue hundreds of millions of new shares. Without the proposed settlement, common stockholders and preferred shareholders would end up owning 34.28% and 65.72% of AMC, respectively. While the deal would compensate common stock holders for the dilution, they had no right to settle potential claims by holders of preferred stock, Zurn wrote on Friday.

Persons: Chancellor Morgan Zurn, Zurn, Jody Godoy, Franklin Paul, Deepa Babington, Chris Reese Organizations: AMC Entertainment Holdings, Delaware, AMC, AMC Entertainment Holdings Inc, Thomson Locations: Delaware

Companies Tesla Inc FollowJuly 21 (Reuters) - A federal appeals court on Friday said it will reconsider its recent decision that Tesla (TSLA.O) Chief Executive Elon Musk violated federal labor law by tweeting that employees would lose stock options if they joined a union. Circuit Court of Appeals in New Orleans granted Tesla's request to revisit the case "en banc," meaning that its 16 active judges will take part. Musk issued the tweet as the United Auto Workers sought to organize employees at Tesla's plant in Fremont, California. "But why pay union dues & give up stock options for nothing?" The appeals court panel found "substantial evidence" that the tweet was "an implied threat to end stock options as retaliation for unionization."

Persons: Tesla, Elon Musk, Musk, Jonathan Stempel, Jonathan Oatis, Deepa Babington Organizations: Tesla, U.S, Circuit, National Labor Relations Board, Musk's, United Auto Workers, NLRB, Republican, Twitter, U.S . Securities, Exchange Commission, Forbes, Thomson Locations: New Orleans, Fremont , California, U.S, New York

Companies Tesla Inc FollowJuly 21 (Reuters) - A federal appeals court on Friday said it will reconsider its recent decision that Tesla (TSLA.O) Chief Executive Elon Musk violated federal labor law by tweeting that employees would lose stock options if they joined a union. Circuit Court of Appeals in New Orleans said it will review the case en banc, meaning that all active judges will take part. Musk issued the tweet on May 20, 2018, as the United Auto Workers was seeking to organize employees at Tesla's plant in Fremont, California. "But why pay union dues & give up stock options for nothing?" Reporting by Jonathan Stempel in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla, Elon Musk, Musk, Jonathan Stempel, Jonathan Oatis Organizations: Tesla, U.S, Circuit, National Labor Relations Board, United Auto Workers, Thomson Locations: New Orleans, Fremont , California, New York

Search resuls for: "Real Estate Finance"

25 mentions found