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☆ Rudy Giuliani told an employee not to talk to the FBI and then asked for her help googling obstruction of justice, lawsuit says
▼ + stars: | 2023-05-15 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Rudy Giuliani told an employee not to talk to the FBI and delete her messages with him, according to a lawsuit. He then asked for her help "Googling information about obstruction of justice," the lawsuit says. According to the lawsuit, around May 2019, Giuliani told Dunphy to delete her messages with him. "You've got to be smart enough to know what I have just said," Giuliani told her, according to the lawsuit. "Giuliani asked Ms. Dunphy for help in Googling information about obstruction of justice, among other topics," the lawsuit says.

☆ Vice Media files for bankruptcy to enable sale to lenders including Soros and Fortress
▼ + stars: | 2023-05-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles. Vice is one of several digital media and technology firms forced to restructure this year amid a sluggish economy and weak advertising market. To facilitate its sale, Vice filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The consortium's bid includes a commitment of $20 million in cash to enable Vice's operations to continue throughout the sale process. Vice Co-CEOs Bruce Dixon and Hozefa Lokhandwala said in a statement that the sale process will "strengthen the Company and position VICE for long-term growth."

☆ US Virgin Islands subpoenas Elon Musk as part of lawsuit into Jeffrey Epstein sex trafficking ring
▼ + stars: | 2023-05-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —The US Virgin Islands has subpoenaed Elon Musk, requesting documents from the billionaire for the government’s lawsuit alleging JPMorgan Chase benefited financially from Jeffrey Epstein’s sex trafficking operation. The Virgin Islands’ government issued the subpoena on April 28 but had difficulty obtaining an address for Musk to locate and serve him, even hiring an investigative firm. The subpoena is requesting all communications between Musk and JPMorgan regarding Epstein or any role the disgraced financier played in the Tesla CEO’s financial management. It also requested any documents regarding fees paid to Epstein or JPMorgan, or any documents regarding Epstein’s sex trafficking ring. In 2022, the US Virgin Islands filed a lawsuit against JPMorgan Chase, alleging the Wall Street giant benefited financially from Epstein’s sex trafficking operation and failed in its duty to report suspicious financial activity.

Musk has litigated with the SEC for years over the consent decree, which was revised in 2019 after the SEC charged Musk with making "false and misleading" statements in his Aug. 2018 "funding secured" tweets. The agreement required "pre-approval" for tweets by Musk that contained information material to Tesla, and which extended to "certain senior executives," according to the judgment. A February letter from Musk attorney Alex Spiro said the terms of the consent decree, which was revised in 2019, amounted to "unconstitutional" infringement of his free speech rights. Far from being "bad-faith," the court wrote that "each tweet plausibly violated the terms of the consent decree." Musk was found "not liable" in a February securities fraud trial over his "funding secured" tweets.

☆ Once valued at nearly $6 billion, Vice files for bankruptcy
▼ + stars: | 2023-05-15 | by ( Claire Atkinson | Cheryl Teh | ) www.businessinsider.com time to read: +4 min

Vice filed for bankruptcy, wiping out equity holders who poured in hundreds of millions, including TPG and James Murdoch. The company filed for Chapter 11 bankruptcy on Monday in New York's Southern District Court. The company's filing listed assets and liabilities in the range of $500 million to $1 billion. Vice had run multiple sales processes with a range of different banks but never received an offer palatable to its owners. The bankruptcy filing reveals just how many companies and investors pinned their hopes on Smith's hype about the potential growth trajectory of the TV and online venture.

☆ Icahn Enterprises fielding enquiries by U.S. prosecutors
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Icahn Enterprises LP (IEP.O) said on Wednesday it had received inquiries from U.S. prosecutors about its operations on May 3, a day after a short-seller accused it of over-valuing its assets. The disclosure from Icahn Enterprises that it had received inquiries from prosecutors in the Southern District of New York came as the firm posted a surprise quarterly loss, after volatility in markets hit returns on its investments. It added that the prosecutors had not made any claims or allegations against the company or Icahn. Icahn has called the report "self-serving" and said he stands by Icahn Enterprises statements about his finances. Excluding one-time items, Icahn Enterprises reported a loss of 11 cents per share, missing analysts' average estimate of a 19 cents profit, according to Refinitiv data.

☆ Icahn Enterprises Under Investigation by Federal Prosecutors
▼ + stars: | 2023-05-10 | by ( Ben Foldy | ) www.wsj.com time to read: 1 min

Billionaire activist investor Carl Icahn. Photo: Victor J. Blue/BloombergFederal prosecutors opened an inquiry into Carl Icahn ’s investment company, the day after a short seller’s report said the firm was inflating the value of its assets, the company disclosed Wednesday. Icahn Enterprises , the publicly traded firm controlled by Mr. Icahn, was targeted by short seller Hindenburg Research early this month. The next day, the U.S. Attorney’s Office for the Southern District of New York contacted Icahn Enterprises asking for information about corporate governance, dividends and other topics, the firm said in a securities filing Wednesday.

☆ Icahn, Under Federal Investigation, Blasts Short Seller
▼ + stars: | 2023-05-10 | by ( Ben Foldy | ) www.wsj.com time to read: 1 min

Billionaire activist investor Carl Icahn. Photo: Victor J. Blue/BloombergFacing a federal probe over practices at his investment company, activist investor Carl Icahn went on the attack against the short seller that likely spurred the inquiry, accusing it of “wantonly destroying property and harming innocent civilians.”Icahn Enterprises , the publicly traded firm controlled by Mr. Icahn, was targeted by short seller Hindenburg Research early this month. The next day, the U.S. Attorney’s Office for the Southern District of New York contacted Icahn Enterprises asking for information about the value of its assets, corporate governance, dividends and other topics, the firm said in a securities filing Wednesday.

☆ Stocks making the biggest moves midday: Roblox, Icahn Enterprises, Rivian, Airbnb and more
▼ + stars: | 2023-05-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

On Tuesday, the company reported a smaller-than-expected quarterly loss and said it expects to still meet forward guidance targets. Its revenue of $661 million topped the $652 million expected from analysts polled by Refinitiv. Twilio anticipates between $980 million and $990 million in revenue, while analysts polled by Refinitiv were expecting $1.05 billion in revenue. On Tuesday, the company reported same-store sales and revenue for the first quarter missed analysts' expectations, according to FactSet. On Tuesday, Occidental posted first-quarter adjusted earnings per share of $1.09, which is less than the $1.24 estimate from analysts polled by FactSet.

☆ Carl Icahn's company stock falls as much as 20% after prosecutors seek financial information
▼ + stars: | 2023-05-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Regulators sought information a day after notable short seller Hindenburg Research took a short position against Icahn's company. The shares fell as much as 20% in morning trading, following a near 25% loss last week. Icahn Enterprises , Carl Icahn's conglomerate, saw its stock drop again Wednesday after a disclosure showed regulators are seeking information regarding its corporate governance. Headquartered in Sunny Isles Beach, Florida, Icahn Enterprises is a holding company that invests in a myriad of businesses including energy, automotive, food packaging, metals and real estate. Shares of Icahn Enterprises are now down more than 35% year to date.

☆ How El Chapo’s sons built a fentanyl empire poisoning America
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +23 min

Headed by Iván, El Chapo’s oldest son, the siblings have emerged as key figures in the Sinaloa Cartel, U.S. and Mexican anti-narcotics officials said. But he was killed in 2008 in Culiacán in a hail of bullets amid infighting between warring factions of the Sinaloa Cartel. The agency in April placed Iván on the list of its 10 Most Wanted Fugitives, joining Jesús Alfredo and Ismael “El Mayo” Zambada, a Sinaloa Cartel legend and El Chapo’s alleged former business partner. They also kidnapped eight soldiers and surrounded military housing where wives and children of Mexican soldiers lived, Mexican officials said. Despite that blow to the Sinaloa Cartel, fentanyl keeps flowing north.

O'Connor pleaded guilty to charges including conspiring to commit computer intrusions, to commit wire fraud and to commit money laundering. O'Connor, who was extradited to the U.S. on April 26, will also forfeit more than $794,000 and pay restitution to victims, prosecutors said. Prosecutors said the schemes included gaining unauthorized access to social media accounts on Twitter in July 2020 as well as a TikTok account in August 2020. The July 2020 Twitter attack hijacked a variety of verified accounts, including those of then-Democratic presidential candidate Joe Biden and Tesla Inc (TSLA.O) CEO Elon Musk, who now owns Twitter. The alleged hacker used the accounts to solicit digital currency, prompting Twitter to prevent some verified accounts from publishing messages for several hours until security could be restored.

☆ U.S. man pleads guilty to Tokyo Games doping charges
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, May 8 (Reuters) - A man that U.S. prosecutors charged with supplying performance-enhancing drugs to athletes at the Tokyo Olympics pleaded guilty on Monday, a spokesman for the U.S. Attorney's Office Southern District of New York said. Eric Lira, 43, last year became the first individual charged under the Rodchenkov Act, a federal law that allows criminal charges against doping conspirators at events involving U.S. athletes, broadcasters and sponsors. He had previously pleaded not guilty. Lira could face as many as 10 years in prison, but would likely get less under his plea agreement. Reporting by Amy Tennery in New York Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

WilmerHale said in Monday's filing that it did not represent Wild and that its work with ECPAT was limited to filing the Supreme Court brief on a legal issue unrelated to the JPMorgan case. The firm argued that EPCAT as an outside organization was not directly involved in Wild’s case. WilmerHale attorneys accused the plaintiff of “gamesmanship” in attempting to disqualify JPMorgan’s preferred law firm. A lawyer for the plaintiff, Bradley Edwards, who previously also represented Wild, said in a court filing that WilmerHale lawyers had communicated with Wild’s attorneys about legal strategy. Wild is not a party in the New York case, but Edwards said that as a victim of Epstein, she is a potential member of the plaintiff class.

Companies Peloton Interactive Inc FollowNEW YORK, May 2 (Reuters) - A U.S. judge on Tuesday refused to let Peloton Interactive Inc (PTON.O) customers pursue a class action accusing the bike and treadmill maker of misleading them about the "ever-growing" size of its library of on-demand fitness classes. The decision is a victory for New York-based Peloton, because class actions can allow for greater recoveries at lower cost than when plaintiffs sue individually. According to the customers, Peloton knew this could happen, yet kept charging full price for products containing copyrighted songs by Adele, Beyoncé, Luke Bryan, Drake, Ariana Grande, Madonna, Justin Timberlake, Jay Z and other artists. Peloton settled the licensing lawsuit by the National Music Publishers' Association and 14 members in February 2020. The case is Passman et al v Peloton Interactive Inc, U.S. District Court, Southern District of New York, No.

☆ Manhattan federal prosecutor joins Kramer Levin law firm
▼ + stars: | 2023-05-02 | by ( Chinekwu Osakwe | Thomson Reuters | Chinekwu Osakwe Covers Legal Industry News With A Focus On Midsize Law Firms. Reach Her At Chinekwu.Osakwe Thomsonreuters.Com. | ) www.reuters.com time to read: +1 min

Law Firms Kramer Levin Naftalis & Frankel LLP Follow(Reuters) - New York-founded law firm Kramer Levin Naftalis & Frankel said Tuesday that it has hired former Assistant U.S. Attorney Jordan Estes, who co-led the general crimes unit in the Southern District of New York, for its white-collar and government investigations practice. Estes was the lead or co-lead prosecutor on 13 criminal trials ranging from securities fraud matters, insider trading, bank fraud, health care fraud and racketeering, Kramer Levin said. Estes helped secure last year's conviction of Trevor Milton, the founder of electric vehicle company Nikola Corp, on charges that he defrauded investors. In February, prominent Kramer Levin white-collar partner Barry Pollack left the firm to join New York midsize law firm Harris St. Laurent & Wechsler's new Washington, D.C. office. Read More:N.Y. law firm launches in D.C. with white-collar duoOur Standards: The Thomson Reuters Trust Principles.

By attributing that knowledge to JPMorgan, Epstein's accusers might show that JPMorgan "actually knew" about the venture or "recklessly disregarded" its existence, Rakoff said. JPMorgan is separately suing Staley to cover its losses in the two lawsuits it faces, and forfeit eight years of pay. 22-10018; Jane Doe 1 v JPMorgan Chase & Co, No. 22-10019; Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, No. 22-10904; and JPMorgan Chase Bank NA v Staley, in Nos.

☆ Negotiating Financing Provisions in Mergers
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +47 min

(For the complete version of this resource, which includes initial considerations and questions counsel should ask when drafting and negotiating financing provisions in merger agreements, see Drafting and Negotiating Financing Provisions in Mergers on Practical Law.) For a private placement under Rule 144A, the financing parties may offer some flexibility regarding the required financing statements. The term refers collectively to provisions that benefit debt financing parties by limiting their liability in an acquisition financing, including provisions that provide for:No recourse to the financing parties. The target company has no recourse against the financing parties and cannot pursue litigation against the financing parties directly. The financing parties are third-party beneficiaries of the Xerox provisions to permit the financing parties to enforce their rights under the merger agreement.

☆ Supreme Court takes up legal spat over public officials blocking people on social media
▼ + stars: | 2023-04-24 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +4 min

WASHINGTON, DC - APRIL 19: The Supreme Court of the United States, on Wednesday, April 19, 2023 in Washington, DC. But the legal dispute is the same: Can blocking someone on social media give rise to a free speech violation under the Constitution's First Amendment? It's a recurring question that has arisen at all levels of government as elected officials increasingly use social media to interact with voters. The appeals court concluded that the elected officials were acting in their official capacities and that social media accounts are akin to a public forum. The court also rejected the officials' argument that their social media pages were not official channels for members of the public to communicate with the government.

☆ Fact Check-Posts misidentify Atlanta jail inmate who died after being ‘eaten alive by insects’
▼ + stars: | 2023-04-20 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

A tweet reads, in part, “Lashawn Thompson (below) died after being devoured by insects and brutalized for 3 months in a filthy cell in the Atlanta jail” (archive.ph/X22vW). He died at the Fulton County Jail in Atlanta in September 2022. A search for the photo on the right leads to news reports of a separate incident at an Indiana jail in 2021. The Jackson County Sheriff’s Office didn’t respond to Reuters requests for comment. The posts share photos of inmates who died in separate incidents at jails in Atlanta and Indiana.

☆ Mall of America can continue to fight Sears' new owners – who are hoping to keep the retailer's shocking $10-a-year lease
▼ + stars: | 2023-04-19 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The Supreme Court unanimously decided that the Mall of America can challenge a lease it has with Sears. In 1991, the mall gave Sears a 100-year lease on a three-story location for just $10 per year. Mall of America objected, saying that landlords have a right to "adequate assurance of future performance" by whoever took over Sears' lease. The bankruptcy court overruled the mall's objection. That appeal too was dismissed, which led the mall to petition the Supreme Court.

☆ Amazon's worker safety hazards come under fire from regulators and the DOJ
▼ + stars: | 2023-04-15 | by ( Katie Tarasov | ) www.cnbc.com time to read: +8 min

In 2021, Amazon's injury rate was almost 1.5 times the industry average. Jennifer Crane works through pain at an Amazon warehouse in St. Peters, Missouri, after hurting her wrist in October. Amazon worker Jennifer Crane at her house outside St. Louis, Missouri, in 2022. OSHA also cited Amazon for 14 record-keeping violations, finding that the company failed to properly report worker injuries and illnesses. If you're rushing, you're going to make mistakes and someone's going to get hurt."

NEW YORK, April 14 (Reuters) - Societe Generale SA (SOGN.PA) agreed to pay $105 million to settle U.S. investor litigation accusing the French bank of violating antitrust law by conspiring with rivals to rig Euribor, a key European interest rate benchmark. A preliminary settlement was filed late Friday with the U.S. District Court in Manhattan, and requires a judge's approval. Societe Generale denied wrongdoing in agreeing to settle, court papers show. The case is Sullivan et al v. Barclays Plc et al, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

U.S. District Judge Lewis Kaplan in Manhattan on Friday rejected Trump's renewed effort to require that prospective jurors provide their names, employment and 38 other pieces of information on written questionnaires. While jurors would hear much about Trump even in "normal" circumstances, "the risk of prejudice is even more elevated" because of Bragg's case, Trump's lawyers said. She is separately suing Trump for defamation over his June 2019 denial that the dressing room encounter happened. The case is Carroll v Trump, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

They said the involvement of Hoffman, a prominent Democratic donor, raised the question of whether Carroll sued Trump, a Republican, to advance a political agenda. They had called Trump's request irrelevant to the defamation claim, and said Trump waived the argument by earlier raising and then dropping a similar request. She also has a still-pending defamation lawsuit filed in November 2019 against Trump over his denial five months earlier that the rape took place. The case is Carroll v Trump, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

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