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  • Mendez will face intense scrutiny in the U.S. Senate, where many lawmakers are pressing the SIPC to be more sympathetic to investors. SIPC has come under fire by lawmakers from both parties, after the organization declined to launch a court proceeding to help the victims of Allen Stanford's $7 billion Ponzi scheme try to recover some of their losses.

  • Wolf to ban no-bid contracts with outside lawyers Wednesday, 12 Nov 2014 | 10:24 AM ET

    HARRISBURG, Pa.— Gov.-elect Tom Wolf plans to ban no-bid contracts with private law firms and impose new competitive bidding requirements to make the hiring of outside legal counsel by state agencies more transparent, a spokesman said Wednesday. They include 512 employed by the governor's Office of General Counsel to handle day-to-day legal affairs in the 34...

  • Gulfstream accountant held in $8.5M theft scheme Friday, 7 Nov 2014 | 9:51 PM ET

    LOS ANGELES— An embezzler who served time in federal prison was arrested Friday in a scheme to steal at least $8.5 million from Gulfstream Aerospace Corp. to finance a lavish lifestyle, the FBI said. Marvin Caukin of Calabasas was held without bail after his initial appearance in federal court on charges of identity theft and conspiracies to launder money and...

  • Argentina Par holders eye group to control acceleration Wednesday, 5 Nov 2014 | 4:02 PM ET

    NEW YORK, Nov 5- Holders of Argentina's defaulted Par bonds are banding together to increase their leverage with the sovereign, using the threat of possible payment acceleration to solidify their position. About a dozen funds have been in talks with Chicago law firm Kirkland& Ellis, sources told IFR, with an eye to gaining at least 50% control over a single bond...

  • WASHINGTON, Nov 3- MetLife has retained a top Washington lawyer in its bid to escape a plan by the U.S. financial risk council to subject it to far tougher rules, a sign the largest U.S. insurer may be preparing a legal challenge. A MetLife spokesman told Reuters the company had retained Eugene Scalia, a partner at law firm Gibson Dunn LLP, who has successfully fought...

  • LONDON, Oct 28- British insurance broker Aon has launched Ebola liability cover for hospitals and other health care institutions, the company said on Tuesday. "There are several areas where there has not been certainty about coverage for Ebola," Gigi Norris, managing director of Aon Risk Solutions' Western Region Health Care Practice, said. The policy has been...

  • Oct 30- A Southern California law firm has sued Kimberly-Clark Corp for more than $500 million, alleging that the Kleenex tissue maker committed fraud by marketing and selling some of its surgical gowns as protection against Ebola. Law firm Eagan Avenatti said it filed a class-action lawsuit in a Los Angeles court on Wednesday, stating that Kimberly-Clark had...

  • Oct 30- A Southern California- based law firm has sued Kimberly-Clark Corp for more than $500 million, alleging that the Kleenex tissue maker committed fraud by marketing and selling some of its surgical gowns as protection against Ebola. Law firm Eagan Avenatti said it filed a class-action lawsuit in a Los Angeles court on Wednesday, stating that...

  • BERLIN, Oct 25- Calogero Gambino, a senior Deutsche Bank regulatory lawyer, has been found dead in New York in what appears to have been a suicide, the Wall Street Journal reported on Saturday, citing New York City officials and other sources. He had been closely involved in negotiating legal issues for Deutsche Bank such as a probe by regulators of banks over...

  • The lawsuit, filed in the U.S. Court of Appeals for the Ninth Circuit in California, argues that the Environmental Protection Agency did not adequately analyze the impact of one of the new herbicide's active ingredients, 2,4- D, before granting approval on Oct. 15 to Dow's Enlist Duo herbicide. "They did not do an adequate job," said Andrew Kimbrell, an attorney with...

  • LONDON, Oct 23- The chairman of Britain's biggest grocery chain, Tesco, announced his resignation on Thursday after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than initially thought. Tesco, Britain's biggest private employer and once the juggernaut of its retail sector, has lost half...

  • LONDON, Oct 23- Tesco reported a bigger than expected hole in its accounts on Thursday after finding mistakes in booking income had gone back further than initially thought, forcing Britain's biggest grocer to scrap its full-year profit outlook. Tesco, once the unstoppable juggernaut of Britain's retailers, has in recent years been battling fierce...

  • The lawsuit, filed in the U.S. Court of Appeals for the Ninth Circuit in California, argues that the Environmental Protection Agency did not adequately analyze the impact of one of the new herbicide's active ingredients, 2,4- D, before granting approval on Oct. 15 to Dow's Enlist Duo herbicide. "They did not do an adequate job," said Andrew Kimbrell, an attorney with...

  • NEW YORK, Oct 20- Facebook Inc and Chief Executive Mark Zuckerberg have sued several lawyers who represented Paul Ceglia, claiming they helped the upstate New York entrepreneur pursue a fraudulent lawsuit to extort a 50 percent stake in the social networking company. Ceglia, a wood pellet salesman from Wellsville, New York, is not a defendant in Facebook's...

  • NEW YORK, Oct 20- Facebook Inc and Chief Executive Mark Zuckerberg have sued several lawyers who have represented Paul Ceglia, claiming they helped the upstate New York entrepreneur pursue a fraudulent lawsuit to extort a 50 percent stake in the social networking company. Ceglia, a wood pellet salesman from Wellsville, New York, is not a defendant in Facebook's...

  • DETROIT, Oct 17- General Motors Co's top lawyer will retire early next year, months after his department was heavily criticized for how it handled the automaker's defective ignition switch that has been linked to at least 27 deaths. Michael Millikin, 66, informed GM of his decision and the company will immediately begin an external search for his replacement,...

  • DETROIT, Oct 16- Detroit announced on Thursday a last-minute settlement with its final major holdout creditor, Financial Guaranty Insurance Co., as it edged closer to exiting the biggest-ever municipal bankruptcy. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for FGIC to...

  • DETROIT, Oct 16- A settlement between Detroit and its last major holdout creditor, Financial Guaranty Insurance Co, resolves all issues involving the city's outstanding pension debt, an attorney for the city said on Thursday. Corinne Ball, an attorney at law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the settlement includes an option for...

  • NEW YORK, Oct 14- South Korea- based Asiana Airlines Inc has agreed to pay $55 million to settle allegations in a U.S. class action that it conspired with other airlines to fix rates for shipping air cargo, according to court papers filed on Tuesday. The proposed settlement, which requires the approval of a judge, was filed in U.S. District Court in Brooklyn.

  • DETROIT, Oct 14- A settlement with Financial Guaranty Insurance Co, the last major holdout creditor in Detroit's historic bankruptcy case, is close and could be announced on Thursday, attorneys said on Tuesday. Detroit's attorney, Thomas Cullen at law firm Jones Day, told U.S. FGIC, which has $1.1 billion on the line from insuring Detroit pension debt, is facing the...