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[1/2] U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services' sex offender registry March 28, 2017 and obtained by Reuters July 10,... Read moreCompanies Deutsche Bank AG FollowMay 17 (Reuters) - Deutsche Bank AG (DBKGn.DE) has agreed to pay $75 million to settle a proposed class-action lawsuit alleging the lender facilitated the late Jeffrey Epstein's sex-trafficking ring, the Wall Street Journal reported late on Wednesday, citing lawyers who sued the bank on behalf of alleged victims. The suit was filed last year in New York by an anonymous woman on behalf of herself and other accusers, alleging Deutsche Bank did business with Epstein for five years knowing he was engaged in sex-trafficking activity, the report said. Deutsche Bank did not immediately reply to a Reuters' request for comment. Reporting by Rahat Sandhu in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ 3 of our tech stocks are in the news. Here are the takeaways from the headlines
▼ + stars: | 2023-05-18 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Here's a breakdown of the news, and how the headlines impact our investment approaches to the companies. Morgan Stanley likes PANW PANW YTD mountain Palo Alto Networks' year-to-date stock performance. Despite concerns around overall tech spending, Morgan Stanley said that companies still want to streamline their cybersecurity spending. Meta's stock has, of course, been on a tear since bottoming under $89 per share back in November. (Jim Cramer's Charitable Trust is long PANW, META, GOOGL and AAPL.

Companies Alphabet Inc FollowMay 18 (Reuters) - Google will pay Washington state $39.9 million to resolve a lawsuit accusing the Alphabet Inc (GOOGL.O) unit of misleading consumers about its location tracking practices, state Attorney General Bob Ferguson said on Thursday. In November, Google agreed to pay $391.5 million to resolve similar allegations by 40 U.S. states. Some states including Washington chose to sue Google on their own about its tracking practices. Arizona reached an $85 million settlement with Google last October in one of those cases. In response to the Washington settlement, Google referred to its earlier statement on the multistate accord, where it said it had addressed various concerns raised by regulators, including "outdated product policies that we changed years ago."

WASHINGTON, May 18 (Reuters) - Hyundai Motor (005380.KS) and Kia Corp (000270.KS) agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles, lawyers for the owners and the automakers said on Thursday. In February, the Korean automakers said they would offer software upgrades to 8.3 million U.S. vehicles without anti-theft immobilizers to help curb increasing car thefts using a method popularized on TikTok and other social media channels. The settlement covers about 9 million U.S. owners and includes up to $145 million for out-of-pocket losses for consumers who had cars stolen, lawyers for the owners said. The consumer settlement covers owners of 2011 through 2022 model year Hyundai or Kia vehicles with a traditional "insert-and-turn" steel key ignition system. Other related expenses including car rental, taxi or other transportation costs not covered by insurance are also included by the settlement.

Companies Google Inc FollowAlphabet Inc FollowMay 18 (Reuters) - The U.S. Supreme Court on Thursday sidestepped a challenge to federal protections for internet and social media companies that free them of liability for content posted by users in a case involving a lawsuit against Google LLC involving the practices of video-sharing platform YouTube. The justices, in a brief and unsigned ruling, returned to a lower court a lawsuit by the family of Nohemi Gonzalez, a 23-year-old college student from California who was fatally shot in an Islamic State attack in Paris in 2015, of a lower court's decision to throw out their lawsuit. Google and YouTube are part of Alphabet Inc (GOOGL.O). Reporting by Andrew Chung in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

May 18 (Reuters) - A Florida judge ruled in favor of Tiger Woods on Wednesday, rejecting his former girlfriend Erica Herman's request to nullify a non-disclosure agreement she signed when they began dating in 2017, U.S. media reported, citing court documents. Herman had asked a judge to void the agreement, citing a recent law that limits enforcing such agreements in sexual harassment and assault cases. Herman had not accused Woods of harassment or assault in court papers. In Wednesday's ruling, Circuit Judge Elizabeth Metzger said that Herman's claims had been “implausibly pled," granting Woods' requests to compel arbitration, the New York Times reported. The judge wrote that Herman could have provided factual specificity for any claim relating to sexual assault or sexual harassment, but "she has not done so,” according to the newspaper.

[1/2] Production units are seen in operation at Marathon Petroleum’s Galveston Bay Refinery in Texas City, Texas, U.S., May 15, 2023. Scott Higgins, a 55-year-old machinist, was killed and two contract employees, including Eduardo Olivo, were injured in a fire at Marathon’s giant Galveston Bay Refinery on Monday morning. The unit is the larger of two Ultraformers at the 593,000 barrel-per-day (bpd) Galveston Bay Refinery, the second-largest in the United States. Higgins was the second worker to die at the Marathon refinery this year. On March 23, 2005, when the refinery was owned by BP Plc, 15 contract workers were killed and 180 other people were injured in a explosion caused by an overflowing refinery unit.

[1/2] Theranos founder Elizabeth Holmes arrives at the federal courthouse accompanied by her partner Billy Evans, to ask a U.S. judge at a hearing to pause her prison sentence of more than 11 years while... Read moreCompanies Theranos Inc FollowMay 17 (Reuters) - Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion. U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison. Holmes rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood. Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. Holmes' co-defendant, former Theranos President Ramesh "Sunny" Balwani, was convicted of defrauding Theranos investors and patients at a separate trial and sentenced to 12 years and 11 months in prison.

Companies Walgreens Boots Alliance Inc FollowMay 17 (Reuters) - Walgreens Boots Alliance Inc (WBA.O) has reached a $230 million settlement with San Francisco over its alleged role in that city's opioid epidemic, city attorney David Chiu said on Wednesday. Chiu said the accord followed a trial where the court found Walgreens substantially contributed to the epidemic and created a public nuisance. U.S. District Judge Charles Breyer had ruled last August that the drugstore chain failed to properly investigate suspicious opioid orders for nearly 15 years. Walgreens had been the only remaining defendant, after several drugmakers and distributors had settled with the city. San Francisco subsequently estimated it might cost $8.1 billion to abate the opioid crisis, and said Walgreens was legally liable for the entire amount.

☆ Bankman-Fried faces long odds of tossing charges despite Supreme Court decision
▼ + stars: | 2023-05-17 | 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: +4 min

But legal experts said Bankman-Fried's odds of getting the charges dismissed remain slim. Days later, the U.S. Supreme Court invalidated that theory known as "right to control" when it overturned the conviction of a Buffalo construction executive accused of bid-rigging. The Court said the theory is "inconsistent with the structure and history of the federal fraud statutes." Officials say Bankman-Fried portrayed FTX as a safe, responsible platform in the volatile sector, even as he was diverting customer funds. Even if the bank fraud count is dismissed, Bankman-Fried would still face 12 other counts at his Oct. 2 trial.

Companies Theranos Inc FollowMay 16 (Reuters) - Theranos founder Elizabeth Holmes must begin serving her prison sentence while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup, an appeals court in San Francisco ruled on Tuesday. She had asked the 9th U.S. Circuit Court of Appeals to pause her sentence on April 25, two days before she was to report to prison. The court on Tuesday denied her bail application. Reporting by Jody Godoy in California; Additional reporting by Akanksha Khushi; Editing by Richard Chang and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

The law exempts existing owners, giving them a deadline of Jan. 1, 2024, to register their assault weapons with state police. The case is one of several contesting the state's ban in both federal and state courts. The Supreme Court, with its conservative majority, has expanded gun rights in key rulings since 2008. In a landmark decision last June striking down New York state gun limits, the Supreme Court recognized the right to carry a handgun in public for self-defense. In asking the Supreme Court to halt the ban, the challengers said AR-15s and similar rifles are in common use in the United States and there is no historical analogue to such a ban.

Under the restitution order made by Judge Edward Davila in San Jose, California, who also oversaw Holmes' trial and sentencing, both Holmes and Balwani are equally responsible for the full amount. Davila rejected their argument that intervening events contributed to Theranos investors’ losses. The denial of bail on Tuesday means Davila will now set a new date for her to go to prison. During the trial, Holmes testified in her own defense, saying she believed her statements were accurate at the time. Theranos, once valued at $9 billion, collapsed after a series of Wall Street Journal articles in 2015 questioned its technology.

[1/2] A patient prepares to take Mifepristone, the first medication in a medical abortion, at Alamo Women's Clinic in Carbondale, Illinois, U.S., April 20, 2023. REUTERS/Evelyn Hockstein/File PhotoMay 17 (Reuters) - A federal appeals court in New Orleans will hear arguments on Wednesday in a closely watched case brought by anti-abortion activists seeking to ban the abortion pill mifepristone, with potentially far-reaching impact on abortion access across the United States. Circuit Court of Appeals to overturn last month's unprecedented ruling by U.S. District Judge Matthew Kacsmaryk in Amarillo, Texas suspending mifepristone's FDA approval. Mifepristone remains available for now, following an emergency order from the U.S. Supreme Court putting Kacsmaryk's order on hold during the appeal. Whichever way the 5th Circuit panel rules, the decision is sure to be appealed, first to the full court and then to the U.S. Supreme Court.

Companies Norfolk Southern Corp FollowNEW YORK, May 16 (Reuters) - Norfolk Southern Corp (NSC.N) was sued on Tuesday by bondholders who said they lost hundreds of millions of dollars because the railroad concealed safety risks prior to the February derailment in Ohio of a train carrying hazardous chemicals. A Norfolk Southern spokesman declined to comment, saying the Atlanta-based company does not discuss pending litigation. Norfolk Southern faced many lawsuits over the derailment in East Palestine, Ohio, including cases brought by Ohio's attorney general, local residents and shareholders. There are nearly 30 defendants, including Norfolk Southern executives and directors and 12 financial services companies that underwrote the bonds. The case is Ohio Carpenters Pension Fund et al v Norfolk Southern Corp et al, U.S. District Court, Southern District of New York, No.

Companies Hyatt Hotels Corp FollowNEW YORK, May 16 (Reuters) - Texas Attorney General Ken Paxton filed a lawsuit on Monday against Hyatt Hotels Corp (H.N) for allegedly violating Texas consumer protection laws by misleading consumers with marketing and charging hidden fees. In a petition filed in district court, Paxton said U.S.-based Hyatt did not include mandatory fees in advertised room rates to stop comparison shopping, amounting to millions of dollars in fraudulent charges. "I will not stand by while Texas consumers are taken advantage of by Hyatt, or by any hotel chain that tries to get away with charging illegal hidden fees," Paxton said in a press release. The company did not immediately respond to a request for comment on Paxton's lawsuit. Reporting by Doyinsola Oladipo in New York; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, May 16 (Reuters) - The U.S. Justice Department said on Tuesday that it had charged a former Apple Inc (AAPL.O) engineer with attempting to steal the firm's technology related to autonomous systems, including self-driving cars. The engineer, whom Justice Department officials named as Weibao Wang, 35, in 2017 accepted a U.S.-based job with a Chinese company working to develop self-driving cars before resigning from Apple. Reporting by Sarah N. Lynch, David Shepardson and Rami AyyubOur Standards: The Thomson Reuters Trust Principles.

Wells Fargo has operated since 2018 under consent orders from the Federal Reserve and two other financial regulators requiring that it improve governance and oversight. The San Francisco-based bank denied wrongdoing, and settled to eliminate the burden and cost of litigation, court papers show. "While we disagree with the allegations in this case, we are pleased to have resolved this matter," Wells Fargo said in a statement on Tuesday. Wells Fargo has since 2016 paid or set aside several billion dollars to resolve regulatory probes and litigation over its business practices. The case is In re Wells Fargo & Co Securities Litigation, U.S. District Court, Southern District of New York, No.

Companies Johnson & Johnson FollowNEW YORK, May 16 (Reuters) - Johnson & Johnson (JNJ.N) has set aside $400 million to resolve U.S. state consumer protection actions as part of its broader $8.9 billion effort to settle claims that its Baby Powder and other talc products cause cancer. LTL's bankruptcy plan would pay $400 million into a separate trust for claims filed by state attorneys general alleging that J&J violated state unfair business practices and consumer protection laws by misleading consumers about the safety of its talc products. Several states had begun consumer protection actions against J&J before LTL's first bankruptcy filing stopped those investigations from moving forward in 2021. New Mexico and Mississippi said in their motion to dismiss that LTL's renewed bankruptcy violates state law enforcement powers by attempting unilaterally to cap the company's liability for state consumer protection actions. From there, the proposed settlement applies discounts depending on the type and severity of cancer, the individual's age, history of talc use and other factors.

May 15 (Reuters) - A U.S. appeals court has temporarily halted a federal judge's ruling that struck down the Affordable Care Act's mandate requiring insurers to cover preventive care, the New York Times reported on Monday. The ruling stems from one of several legal challenges Republicans have brought against the 2010 healthcare law, former President Barack Obama's signature domestic achievement popularly known as "Obamacare." U.S. District Judge Reed O'Connor in March struck down the Affordable Care Act's mandate that health insurance plans cover preventive care, including screenings for certain cancers and pre-exposure prophylaxis against HIV, or the so-called PrEP mandate, at no cost to patients. Reed ruled that the PrEP mandate violated a federal religious freedom law and that other no-cost preventive care mandates were based on recommendations by an illegally appointed task force. The U.S. Fifth Circuit Court of Appeals in New Orleans put Reed's decision on hold, the Times reported, leaving the mandate in place for now.

Kidde-Fenwal filed for Chapter 11 protection in Delaware bankruptcy court. Kidde-Fenwal sold AFFF foam products from 2007 to 2013, according to court documents. Kidde-Fenwal does not make AFFF products, but it previously sold AFFF products through a subsidiary called National Foam. 3M, a central defendant in the AFFF lawsuits, has said it would stop producing PFAS by 2025. The case is In re Kidde-Fenwal Inc, U.S. Bankruptcy Court for the District of Delaware, No.

The Bronx resident said that by February, after a year of two PediaSure drinks per day, her grandson was still short for his age and had become "so overweight" that she stopped buying the drinks. Noriega dismissed PediaSure as "just a flavored sugar and milk-based drink that contains vitamins, which is not a cure for shortness." She said also that Abbott "knows from its own studies that its Clinically Proven Claim is false and misleading." PediaSure is part of the Abbott Park, Illinois-based company's pediatric nutritional segment, which also includes Pedialyte and Similac. The case is Noriega v Abbott Laboratories, U.S. District Court, Southern District of New York, No.

Musk's decree resolved an SEC lawsuit accusing him of defrauding investors with an Aug. 7, 2018, tweet that he had "funding secured" to take his electric car company private. Musk and Tesla each also paid $20 million in civil fines, and Musk gave up his role as chairman. But the three-judge appeals court panel said the SEC had opened just two subsequent inquiries into Musk's tweets, and those tweets "plausibly violated" the decree's terms. It also said Musk chose to allow screening of his tweets, and had no right to revisit the matter "because he has now changed his mind." The case is SEC v Musk, 2nd U.S.

The opulent hotel with a soaring clock tower, located on Pennsylvania Avenue between the White House and the U.S. Capitol, opened shortly before Trump was elected in 2016. The hotel became a gathering spot for Trump supporters, lobbyists and foreign dignitaries, who Democrats and watchdog groups complained could patronize the hotel in order to curry favor with Trump when he was in office. Lawsuits accused Trump of violating the U.S. Constitution's anti-corruption provisions by maintaining ownership of his businesses including the Washington hotel while in office. The justices ordered those cases dismissed because they became moot with Trump leaving office in 2021 after his election loss to Biden, a Democrat. Some of the lawmakers who sued are no longer part of the committee while some others are no longer in Congress.

WASHINGTON, May 15 (Reuters) - The U.S. Supreme Court on Monday agreed to hear a bid by South Carolina officials to revive a Republican-crafted voting map that a lower court said had unconstitutionally "exiled" 30,000 Black voters from a closely contested congressional district. In this case, the Republican legislators were accused of racial gerrymandering to reduce the influence of black voters. South Carolina's Republican-controlled legislature adopted a new voting map last year following the 2020 U.S. census. The Republican map resulted in a 1st congressional district with a larger percentage of white, Republican-leaning voters. The judges – all three appointed by Democratic presidents – ruled that no elections can take place in the 1st district until it has been redrawn, prompting the South Carolina Republican officials to appeal to the Supreme Court.

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