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☆ 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

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

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

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

The prosecutors wrote to U.S. District Judge Lewis Kaplan on Thursday referencing a New York Times article titled "Inside the Private Writings of Caroline Ellison, Star Witness in the FTX Case". 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. Neither New York Times nor Ellison's lawyers responded to Reuters' requests for comment. The prosecutors argued that by sharing these documents, Bankman-Fried was trying to malign Ellison's credibility, and that such conduct could chill witnesses from testifying and taint the jury pool.

Persons: Sam Bankman, District Judge Lewis Kaplan, Caroline Ellison, Ellison, Fried, Prosecutors, Bankman, FTX, Shubham Kalia, Gokul, Jonathan Stempel, Sam Holmes Organizations: U.S, District, New York Times, Star, Alameda Research, FTX Trading, Thomson Locations: Bankman, Alameda, Bengaluru, New York

Companies Trump Organization Inc FollowWASHINGTON/NEW YORK, July 21 (Reuters) - Michael Cohen, the onetime personal lawyer and fixer for Donald Trump, has settled his lawsuit accusing the Trump Organization of failing to cover millions of dollars of legal bills he incurred over his work for the former U.S. president. Cohen and a lawyer for the Trump Organization issued statements that the matter "has been resolved in a manner satisfactory to all parties." Once a strong supporter of Trump, Cohen is now a vocal critic, whose 2020 memoir "Disloyal" was a New York Times bestseller. He claimed that the Trump Organization reneged on its agreement to paying his bills after he began cooperating with several probes into his work for the former president. Despite Friday's settlement, Cohen is expected to be a star prosecution witness against Trump in a criminal trial next March.

Persons: Michael Cohen, Donald Trump, Cohen, Trump, Stormy Daniels, Democrat Joe Biden, Karen Freifeld, Katharine Jackson, Ismail Shakil, Jonathan Stempel, Kanishka Singh, Doina Chiacu, Daniel Wallis, Sharon Singleton Organizations: Companies Trump Organization Inc, WASHINGTON, Trump Organization, Trump, New York Times, Republican, White, Democrat, Washington , D.C, Thomson Locations: New York, Manhattan, Florida, Washington ,

July 21 (Reuters) - The state of New Jersey sued the Biden administration on Friday seeking to block New York City's congestion pricing plan. Last month, the plan cleared a major roadblock when the U.S. Department of Transportation's Federal Highway Administration (FHWA) said the city had adequately assessed how the congestion charge would help the environment. New York City, which has the most congested traffic of any U.S. city, would become the first major city in the U.S. to follow London, which implemented a similar charge in 2003. New York lawmakers approved the plan in 2019 to provide funding to improve mass transit by using tolls to manage traffic in central Manhattan. The toll would generate $1 billion to $1.5 billion a year and support $15 billion in debt financing for mass transit improvement.

Persons: Biden, Donald Trump, David Shepardson, Angus MacSwan Organizations: U.S . Department of, Administration, FHWA, . New, Thomson Locations: New Jersey, York, Jerseyans, Midtown Manhattan, . New York City, U.S, London, ., . New York, Manhattan

Companies Trump Organization Inc FollowWASHINGTON, July 21 (Reuters) - Donald Trump's onetime lawyer and fixer Michael Cohen is expected to settle his lawsuit against the Trump Organization over missed reimbursements of legal fees and costs, a person familiar with the matter told Reuters on Friday. Cohen originally sued in March 2019 to recoup $1.9 million in fees, plus $1.9 million he was ordered to forfeit in a criminal case. The fees kept growing, and the Trump Organization has paid some of them, court papers show. The New York Times reported the proposed settlement earlier on Friday. Cohen, a longtime employee of the firm and of Trump, became a critic of the former president and testified that Trump had directed him to break the law.

Persons: Donald Trump's, Michael Cohen, Cohen, Trump, Karen Freifield, Katharine Jackson, Ismail Shakil, Kanishka Singh, Doina Organizations: Companies Trump Organization Inc, WASHINGTON, Trump Organization, Reuters, New York Times, Times, Trump, Thomson Locations: Trump, Russia

July 21 (Reuters) - Alabama executed a man early on Friday for beating an elderly woman to death two decades ago, the state's first execution since Governor Kay Ivey lifted a suspension on capital punishment in February following a review. Barber argued to the United States Court of Appeals that his execution should be halted because he is at substantial risk of serious harm and "torture" under current protocols. Legal and ethical questions have swirled around capital punishment in the United States after several lethal injections have been botched in recent years. The number of executions in the United States has drastically fallen since 1999, when a record 98 executions were carried out. Capital punishment was reinstated in the United States in 1976.

Persons: Kay Ivey, James Barber, William Holman, Barber, Dorothy Epps, Ivey, Brendan O'Brien, Daniel Trotta, Gursimran Kaur, Bharat Govind Gautam, Sandra Maler, Andrew Heavens Organizations: William, William Holman Correctional, U.S, Supreme, Republican, Department of Corrections, United States, of Appeals, Thomson Locations: Alabama, . U.S, Atmore , Alabama, Harvest , Alabama, United States, Chicago

The groups in 2022 had challenged the EPA’s decision not to reconsider its 2009 greenhouse gas endangerment finding, which they claim has spurred climate regulations that drive up energy costs. David Wallace, the president of the FAIR Energy Foundation, said the groups are reviewing the decision and are considering an appeal to the U.S. Supreme Court. The EPA’s endangerment finding was finalized in 2009, and determined that six greenhouse gasses, including carbon dioxide and methane, pose a danger to human health. The current challenge claims the finding is based on faulty science and that the EPA's refusal to reconsider it was arbitrary. v. EPA and FAIR Energy Foundation v. EPA, in the U.S. Court of Appeals for the District of Columbia Circuit, case Nos.

Persons: David Wallace, Harry MacDougald, Caldwell Carlson Elliott, DeLoach, Francis Menton, Brian Lynk, U.S . Department of Justice Read Organizations: Appeals, District of Columbia Circuit, Concerned Household Electricity Consumers Council, FAIR Energy Foundation, U.S, Supreme, EPA, Electricity, U.S ., U.S . Department of Justice, Thomson Locations: U.S

The dismissal of Rohan Ramchandani's civil lawsuit by U.S. District Judge Victor Marrero was disclosed in a docket entry on Thursday in Manhattan federal court. Marrero plans to release his written decision after Citigroup and Ramchandani agree which information should be kept confidential. One year later, Ramchandani sued Citigroup, saying it fired him without cause in January 2014 amid a global probe into foreign exchange price fixing, and then shared false and "gravely derogatory" claims against him with law enforcement. Ramchandani accused Citigroup of entering its plea in part to shift blame away from senior managers and officers. The case is Ramchandani v. Citigroup Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Rohan Ramchandani's, District Judge Victor Marrero, Marrero, David Lurie, Danielle Romero, Apsilos, Ramchandani, Chris Ashton, Richard Usher, JPMorgan Chase, Ramchandani's, Jonathan Stempel, Marguerita Choy Organizations: YORK, Citigroup, U.S, District, Ramchandani, Barclays, JPMorgan, U.S . Department of Justice, Citigroup Inc, Court, Southern District of, Thomson Locations: U.S, London, Manhattan, New York, Southern District, Southern District of New York

July 20 (Reuters) - FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion they allegedly misappropriated before FTX went bankrupt. FTX is now led by John Ray, who helped manage Enron after the energy trader's 2001 bankruptcy. FTX said Bankman-Fried and Wang also misappropriated $546 million to buy shares of Robinhood Markets (HOOD.O), while Ellison used $28.8 million to pay herself bonuses. The case is FTX Trading Ltd et al v Bankman-Fried et al, U.S. Bankruptcy Court, District of Delaware, No. The main bankruptcy case is In re FTX Trading Ltd et al in the same court, No.

Persons: Sam Bankman, FTX, Caroline Ellison, Gary, Wang, Nishad Singh, Fried, John Ray, Ellison, Singh, Jonathan Stempel, Mike Scarcella, Leslie Adler Organizations: Alameda Research, Enron, U.S, Robinhood, Bankruptcy, District of, FTX, bk, Thomson Locations: Delaware, Alameda, U.S, District, District of Delaware, New York

☆ Venezuela's ex-spymaster pleads not guilty to US drug trafficking charges
▼ + stars: | 2023-07-20 | 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

Hugo Carvajal, 63, arrived in the United states on Wednesday after being extradited from Spain. "General Carvajal looks forward to fighting these outrageous charges in court before an unbiased American jury," Margulis-Ohnuma told reporters after the hearing. The drugs were ultimately bound for the United States, according to prosecutors. Dozens of Venezuelan military leaders, politicians and businessmen have been charged by the United States with corruption and drug trafficking. He was arrested in Spain on the U.S. drug charges later that year, but went into hiding after a court initially approved his extradition.

Persons: Hugo Carvajal, Judge Stewart Aaron, Zachary Margulis, Ohnuma, Carvajal, General Carvajal, Hugo Chavez's, El, Chavez, Nicolas Maduro, Maduro, Luc Cohen, Daniel Wallis Organizations: YORK, Department of Justice, U.S, American, U.S . State Department, Washington, Thomson Locations: United, Spain, Manhattan, Mexico, Venezuela, United States, Washington, Caracas, Aruba, Netherlands, Maduro, New York

The merger, which would take Trump Media public, has yet to occur. The proposed Digital World-Trump Media merger remains uncertain. If it closes, Trump Media would gain access to more than $1 billion in cash from Digital World's institutional investors, such as hedge funds. According to a Feb. 2, 2021 services agreement, Trump controls 90% of Trump Media. Digital World shareholders are set to vote in August on whether to extend the deadline to September 2024.

Persons: Michael Shvartsman, Amr Alfiky, Donald Trump's, Michael, Gerald Shvartsman, Bruce Garelick, District Judge Lewis Liman, Trump, Garelick, Shvartsman, Jody Godoy, Jonathan Stempel, Richard Chang Organizations: Manhattan Federal Court, REUTERS, U.S, Trump Media & Technology Group, Trump Media, District, Rocket, Digital, Authorities, U.S . Securities, Exchange Commission, Trump, Court, Southern District of, SEC, Thomson Locations: Manhattan, New York City, U.S, Florida, New York, Miami, Southern District, Southern District of New York

☆ Tesla to hand over Musk's emails to JPMorgan in lawsuit over 2018 tweet
▼ + stars: | 2023-07-19 | 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

NEW YORK, July 19 (Reuters) - JPMorgan Chase (JPM.N) will get to review some of Elon Musk's emails as it pursues a lawsuit against Tesla (TSLA.O) over a bond contract dispute that arose after Musk tweeted he might take his electric car company private. JPMorgan plans to depose Musk in December, Tesla lawyer Nathan Goralnik said at the hearing. JPMorgan sued Tesla for $162.2 million in November 2021, saying Tesla breached a 2014 contract related to stock warrants it sold to the bank, and which JPMorgan believes became more valuable because of Musk's tweet. Tesla countersued JPMorgan in January, accusing the bank of seeking a "windfall" when it re-priced the warrants. A federal jury in San Francisco in February found Musk and Tesla not liable for misleading investors with the tweet.

Persons: JPMorgan Chase, Elon, Musk, Ona Wang, Tesla, tweeting, Nathan Goralnik, Goralnik, Luc Cohen, Chizu Organizations: YORK, JPMorgan, Tesla, SpaceX, Twitter, U.S . Securities, Exchange Commission, Thomson Locations: Manhattan, U.S, San Francisco, New York

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