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☆ India's Adani ditches $2.5 bln share sale after $86 bln rout
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

NEW DELHI, Feb 1 (Reuters) - India's Adani Enterprises Ltd (ADEL.NS) on Wednesday withdrew its $2.5 billion secondary share sale after Adani Group shares plummeted on concerns raised by a U.S. short-seller. * Anchor investors Maybank Securities and Abu Dhabi Investment Authority pick up stake in Adani Enterprises' share sale, India's largest follow-on public offering (FPO). * Indian shares fell to their lowest level in more than a week, dragged lower by Adani Group stocks. * Adani Enterprises, the flagship company of the group founded by billionaire Gautam Adani, begins its $2.5 billion FPO for retail investors. JAN 31* Adani Enterprises' FPO fully subscribed as investors pumped funds into the share sale, despite the rout in the group's stocks.

☆ News outlets raced to publish Trump’s lawsuit against Woodward. Experts say the suit ‘has no legal merit whatsoever’
▼ + stars: | 2023-01-31 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

Trump this week filed a $50 million lawsuit against the Pulitzer Prize-winning journalist, alleging that when Woodward published audio of their interviews in his audiobook it breached his rights by constituting copyright violations. Most legal experts CNN contacted on Tuesday quickly dismissed Trump’s lawsuit against Woodward as meritless. But instead of major outlets pausing to gather this much-needed context after Trump filed his suit against Woodward, most newsrooms simply published stories echoing his complaint. Judge Donald Middlebrooks pointed to Trump’s “pattern of misusing the courts to serve political purposes” as he took note of several other failed lawsuits Trump has brought in recent years. It is also dismaying given the larger discussion among the press over the years about not succumbing hook, line, and sinker for Trump’s stunts.

☆ New York attorney general calls for new sanctions against Donald Trump
▼ + stars: | 2023-01-31 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 31 (Reuters) - New York's attorney general on Tuesday asked a judge to sanction former U.S. President Donald Trump, his adult children, the Trump Organization and their lawyers over their responses to her $250 million civil fraud lawsuit against them. Lawyers for the Trump defendants did not immediately respond to requests for comment. Former U.S. President Donald Trump, who announced a third run for the presidency in 2024, hosts a New Year's Eve party at his Mar-a-Lago resort in Palm Beach, Florida, U.S. December 31, 2022. James asked for sanctions on the same day new video from her office's Aug. 10 deposition of Donald Trump showed the former president repeatedly refusing to answer questions, citing his right against self-incrimination under the U.S. Constitution. "This is a vindictive and self-serving fishing expedition, the likes of which this country has perhaps never seen before," Trump said.

☆ New York wants Trump sanctioned over his 'meritless' claims, including that Trump Org doesn't really exist
▼ + stars: | 2023-01-31 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Trump, his family, and Trump Org made 'meritless' responses to NY's 2022 fraud lawsuit, the AG says. Trump claimed Trump Org can't be named in the AG's suit because it does not exist as a legal entity. On Thursday, Trump objected to the attorney general's use of the words "Trump Organization," and then blanket-denied everything else in the 29th paragraph. The attorney general's demand for sanctions will be heard Wednesday in Engoron's Manhattan courtroom. The second — for allegedly making "frivolous" claims against the attorney general's office — was ultimately rejected by Engoron.

☆ New York AG will seek sanctions on Trump, lawyers over 'false' court filings in fraud suit
▼ + stars: | 2023-01-31 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Former US President Donald Trump addresses the crowd during a 2024 election campaign event in Columbia, South Carolina, on January 28, 2023. James is suing Trump, the Trump Organization , three of his adult children — Donald Trump Jr., Eric Trump and Ivanka Trump — and others for what she said was widespread fraud involving false financial statements and improper valuation of real estate assets . Trump and the other defendants last week responded to the lawsuit with a court filing that contained so-called verified answers to the allegations. One would be the judge assuming that Trump had effectively admitted the allegations that he and his co-defendants had improperly denied. Wallace pointed to the Trump defendants' denial in James' lawsuit that Trump remained the inactive president of the Trump Organization while serving in the White House.

A former Fox News employee sued the network Wednesday, alleging that the late Fox News chairman and CEO Roger Ailes sexually abused her for years. Ailes allegedly made it clear that if she tried to speak out or stop the abuse, Luhn would experience “severe personal humiliation and career ruin,” according to the suit. Luhn says in the suit that in 2011 she sent a letter to Fox’s general counsel detailing Ailes’ abuse. The suit says the network withheld over 30% of the payment for taxes. The sexual abuse that she suffered while working at Fox News was some of the worst imaginable,” said Luhn’s attorney, Barbara Whiten Balliette, a partner at Reid Collins & Tsai LLP.

☆ Gautam Adani’s business loses $50 billion in market value after short seller report
▼ + stars: | 2023-01-27 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —The value of Gautam Adani’s business empire has crashed by more than $50 billion this week since Hindenburg Research, a US firm that makes money from short selling, published a blistering report accusing it of fraud. India’s Adani Group has denounced Hindenburg’s allegations as “baseless” and “malicious,” and it is considering legal action. But the sharp sell-off in shares, which began Wednesday, accelerated Friday after US hedge fund billionaire Bill Ackman said he found the short seller’s report credible. Adani Enterprises is aiming to raise 200 billion rupees ($2.5 billion) by issuing new shares this month. The 60-year old tycoon founded the Adani group over 30 years ago.

☆ Adani shares plunge further as it weighs legal action against short seller firm
▼ + stars: | 2023-01-27 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Hindustan Times | Hindustan Times | Getty ImagesShares of Adani Group companies continued to see sharp losses for a second consecutive trading session in India, after short seller firm Hindenburg announced its short position in the conglomerate's firms earlier this week. Adani Transmission fell 19.47%, Adani Green Energy shed 19.89% and Adani Power lost 5%. Adani Port's share price also dropped 13.8%. Billionaire investor and CEO of Pershing Square Capital Management, Bill Ackman, voiced his support for the short seller firm in a tweet posted shortly before India's market open. "I found the Hindenburg report highly credible and extremely well researched," he wrote, adding that Adani Group's response "speaks volumes."

☆ Hindenburg says if Adani Group files lawsuit it will demand company documents
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, Jan 26 (Reuters) - Hindenburg Research said on Thursday it will demand documents in legal discovery process if Adani Group files a lawsuit in the United States against the short seller for its report on the Indian conglomerate. "We fully stand by our report, any action against us will be meritless," Hindenburg Research said after Adani Group said it was evaluating "remedial and punitive action" against the short seller. In a statement to Indian exchanges, Adani Group head of legal, Jatin Jalundhwala, called the Hindenburg report "maliciously mischievous, (and) unresearched." Reporting by Nallur Sethuraman in BengaluruOur Standards: The Thomson Reuters Trust Principles.

NEW YORK, Jan 26 (Reuters) - Soccer's world governing body FIFA prevailed in a U.S. appeals court over a former Nigeria national team coach seeking to overturn his lifetime ban, later reduced to five years, for fixing matches. Circuit Court of Appeals in Manhattan said Samson Siasia did not show why a trial court in New York had jurisdiction over his case. FIFA had in 2019 imposed the lifetime ban, saying Siasia violated its code of ethics over a bribery scheme for Australian matches. Siasia, an Atlanta resident and former Nigeria striker, sued FIFA in August 2021, saying the evidence was "grossly insufficient" and that the ban violated his due process rights under the U.S. Constitution. In June 2021, the Court of Arbitration for Sport shortened the ban, calling it too severe for a first offense.

☆ A former Fox News staffer said Roger Ailes told her she was his 'sex slave' and took videos of the abuse to use as 'blackmail,' but the network would dismiss claims with 'boys will be boys,' lawsuit s
▼ + stars: | 2023-01-26 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Luhn filed a lawsuit on Wednesday alleging Fox News enabled and covered up the abuse. In a statement to Insider, Fox called the allegations against the network "meritless." The lawsuit named Fox News, Twenty-First Century Fox, and William Shine, a former Fox News executive who also had a brief stint in the Trump White House. The sexual abuse that she suffered while working at Fox News was some of the worst imaginable. "New York's Adult Survivors Act recognizes the lifelong trauma that sexual abuse victims can suffer.

The investigation focuses in part on a phone call Trump made to Georgia Secretary of State Brad Raffensperger, a Republican, on Jan. 2, 2021. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties. Both investigations involving Trump are being overseen by Jack Smith, a war crimes prosecutor and political independent. NEW YORK CRIMINAL PROBEAlthough Trump was not charged with wrongdoing, his real estate company was found guilty on Dec. 6 of tax fraud in New York state.

Former President Donald Trump has dropped the federal lawsuit he filed in Florida against New York Attorney General Letitia James. Trump's lawyers filed a notice of voluntary dismissal in the case before U.S. District Judge Donald Middlebrooks on Friday morning. The suit charged James — who's filed a $250 million lawsuit against Trump and his company in New York state court — has "repeatedly abused her position as Attorney General for the State of New York to pursue a vendetta against President Trump." Trump had made similar claims against James in state and federal court in New York, both of which were dismissed. "Mr. Trump is a prolific and sophisticated litigant who is repeatedly using the courts to seek revenge on political adversaries.

☆ Trump dropped his lawsuit against Letitia James a day after a judge fined him $1 million for a frivolous case against Hillary Clinton
▼ + stars: | 2023-01-20 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

On Thursday, a judge fined Trump $1 million over his "frivolous" lawsuit against Hillary Clinton. Friday, Trump dropped another lawsuit before the same judge, this one against NY AG Letitia James. He wrote that like the Clinton suit, the James suit "had all the telltale signs of being both vexatious and frivolous." On Thursday, Middlebrooks went further, issuing a scathing rebuke of Trump's legal tactics along with fining Trump and his lawyers for bringing the case. In that case, too, a New York state judge recently threatened money sanctions in response to what he called Trump's pattern of "borderline frivolous" litigation.

☆ Sneaker resale platform StockX says it turned away $100 million in fake items in 2022
▼ + stars: | 2023-01-19 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

StockX says it rejected $100 million worth of counterfeit products from resellers in 2022. The resale marketplace said in its annual report that it recorded record revenues in 2022. Overall, the resale platform turned away over 330,000 fake items shipped by sellers for verification last year, according to its latest annual marketplace report. StockX currently inspects over 1 million items a month at its 13 authentication centers worldwide. Nike, Jordan Brand, Adidas, New Balance, and Converse once again were the top selling sneaker brands on the platform.

Former President Donald Trump unleashed a slew of insults against writer E. Jean Carroll when he was deposed in her civil suit accusing him of rape, newly unsealed court filings show. During the lengthy deposition, Trump was asked about a post he wrote on Truth Social shortly before his testimony claiming that Carroll's story was "a hoax." Roberta Kaplan, Carroll's lawyer, then asked him about writing in the post that Carroll said Trump had "swooned her" inside the store. Didn’t she say that?” Trump continued, before indicating he was referring to Carroll's 2019 interview on CNN with Anderson Cooper. When Cooper said that most people think of rape as a violent assault, she responded, “Most people think of rape as sexy.

☆ Biden's administration just filed a full legal defense of its student-loan forgiveness plan to the Supreme Court, saying the debt relief falls 'comfortably' within the law
▼ + stars: | 2023-01-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Justice Department filed a defense of Biden's student-debt relief to SCOTUS on Wednesday night. This filing comes ahead of February 28, when the Supreme Court is set to hear oral arguments on the two lawsuits that have blocked the implementation of the debt relief. The other lawsuit was filed by two student-loan borrowers who sued because they did not qualify for the full $20,000 amount of relief. Another primary argument Biden's administration has pushed back on is the idea that the debt relief would harm MOHELA. The Justice Department argued MOHELA is a separate entity from Missouri and should not be considered alongside harms to the state.

☆ Banks seek to quash women’s lawsuits in Jeffrey Epstein case
▼ + stars: | 2023-01-01 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

NEW YORK — Deutsche Bank and JPMorgan Chase are asking a federal court to throw out lawsuits that claim the big banks should have seen evidence of sex trafficking by Jeffrey Epstein, the high-flying financier who killed himself in jail while facing criminal charges. The banks said in filings late Friday they didn’t commit any negligent acts that caused harm to the women who filed the lawsuits and that the lawsuits failed to show that they benefitted from Epstein’s sex trafficking. The lawsuits, which seek class-action status to represent other Epstein victims, claim that the banks knowingly benefitted from Epstein’s sex trafficking and “chose profit over following the law” to earn millions of dollars from the financier. “Without the financial institution’s participation, Epstein’s sex-trafficking scheme could not have existed or flourished,” the lawsuits claim. JPMorgan Chase said Friday that the Jane Doe in its case “is entitled to justice ...

☆ JPMorgan, Deutsche Bank seek dismissal of lawsuits by Jeffrey Epstein accusers
▼ + stars: | 2022-12-31 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Epstein killed himself in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges. Epstein was a JPMorgan client from about 2000 to 2013, and a Deutsche Bank client from 2013 to 2018, court papers show. The JPMorgan plaintiff is a former ballet dancer who said Epstein abused and trafficked her from 2006 to 2013, while the Deutsche Bank plaintiff said she suffered from similar misconduct between 2003 and 2018. New York state's financial regulator in July 2020 fined Deutsche Bank $150 million over its relationship with Epstein. The cases are Jane Doe 1 v Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No.

☆ Parents who say their kids are addicted to Fortnite slam Epic Games with lawsuit — and research shows it's not the only game people are worried about
▼ + stars: | 2022-12-31 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Candy Crush and Minecraft are among other video games people are searching for addiction support for, research finds. However, the court didn't agree with the parents' claim that Epic Games deliberately made Fortnite addictive. As part of the class-action, other Fortnite players in Quebec who believe they've experienced symptoms of addiction to the game. In 2019, the World Health Organization officially classified video game addiction as a mental health disorder named "gaming disorder." These include Minecraft (2,800 monthly searches), World of Warcraft (2,620 monthly searches), League of Legends (2,130 monthly searches), and Candy Crush (1,550 monthly searches).

☆ EV startup Canoo claims former execs joined the company just so they could steal its secrets — and launch a rival automaker
▼ + stars: | 2022-12-27 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Electric vehicle maker Canoo is suing some of its former employees who launched a rival company. Canoo claims the employees used Canoo trade secrets and IP for their new startup, Harbinger. Harbinger, a Los Angeles-based EV-maker that launched in September, is led by a team of former Canoo, Faraday Future, and QuantumScape executives. A Canoo spokesperson told Insider in a statement Tuesday that, "As this lawsuit demonstrates, we take the protection of our IP seriously." Several former Canoo employees have announced plans to join Harbinger on LinkedIn in recent months.

☆ Factbox: Jan. 6 report adds to Trump's mounting legal problems
▼ + stars: | 2022-12-23 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +8 min

A New York judge ordered that an independent monitor be appointed to oversee the Trump Organization before the case goes to trial in October 2023. Trump asked Raffensperger to "find" enough votes needed to overturn Trump's election loss in Georgia. Legal experts said Trump may have violated at least three Georgia criminal election laws: conspiracy to commit election fraud, criminal solicitation to commit election fraud and intentional interference with performance of election duties. A Trump Organization lawyer has said it would appeal the decision, while Trump has defended his company's operations. Allen Weisselberg, the company's former chief financial officer, pleaded guilty and was required to testify against the Trump Organization as part of his plea agreement.

House Democrats are scrutinizing why the Internal Revenue Service failed to fully audit Donald Trump's tax returns when he was in the White House, despite an agency policy mandating such a review. Some insight into the lapse came in a report Tuesday from the Joint Committee on Taxation (JCT), a bipartisan congressional panel that examined Trump's tax returns from 2015-20. The JCT report was issued Tuesday, after the House Ways and Means Committee voted to make Trump's 2015-20 tax returns public. Trump was the first president not to make his tax returns public since the 1970s. Neal is pressing for legislation that would require the IRS to publish and audit presidential tax returns.

☆ Jan. 6 committee highlights: Panel votes on criminal referrals for Trump and others
▼ + stars: | 2022-12-20 | by ( Rebecca Shabad | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Jonathan-Allen-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +48 min

“By the time President Trump was preparing to give his speech, he and his advisors knew enough to cancel the rally. “Some have suggested that President Trump gave an order to have 10,000 troops ready for January 6th. On far-right groups drawing inspiration from Trump: Trump has not denied that he helped inspire far-right groups, including the Proud Boys and Oath Keepers, to violently attempt to obstruct the official certification proceedings on Jan. 6. "There is no question from all the evidence assembled that President Trump did have that intent." Share this -Link copiedInside the final Jan. 6 committee meeting The Jan. 6 committee met for what’s likely its final public meeting, with many of the usual faces present.

☆ Jan. 6 committee live updates: Panel votes on criminal referrals for Trump and others
▼ + stars: | 2022-12-19 | by ( Summer Concepcion | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | ) www.nbcnews.com time to read: +42 min

Committee details Trump allies' efforts to obstruct its investigation In its report summary, the committee detailed some of the efforts to obstruct its investigation. On far-right groups drawing inspiration from Trump: Trump has not denied that he helped inspire far-right groups, including the Proud Boys and Oath Keepers, to violently attempt to obstruct the official certification proceedings on Jan. 6. "There is no question from all the evidence assembled that President Trump did have that intent." Share this -Link copiedInside the final Jan. 6 committee meeting The Jan. 6 committee met for what’s likely its final public meeting, with many of the usual faces present. The committee will likely reveal Eastman’s referrals during Monday’s meeting, in addition to expected criminal referrals for Trump.

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