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  • NEW YORK, Dec 12- A New York lawyer left a suicide note admitting that he had run a $5 million Ponzi scheme and called the investments "all an illusion," prosecutors said on Friday. Charles Bennett, 56, who was rescued Nov. 3 when he tried to commit suicide by jumping into the Hudson River, was arrested and charged with securities and wire fraud in Manhattan federal court.

  • WASHINGTON, Dec 12- A landmark U.S. Supreme Court decision in 2013 that made it all but impossible to sue foreign companies in U.S. courts for alleged roles in overseas human rights abuses is proving to be a boon for U.S. firms too, court documents show. Royal Dutch Petroleum Co, U.S. companies such as Chiquita Brands International Inc, IBM Corp and Ford Motor Co have...

  • Dec 11- Law firms and consultants reached agreements with Detroit over fees they charged the city for work on its historic bankruptcy, federal court mediators said on Thursday. As of Oct. 24, fees and expenses totaled nearly $141 million, with law firm Jones Day submitting the biggest bill, totaling $52.3 million. Detroit Mayor Mike Duggan had raised the...

  • RIO DE JANEIRO, Dec 8- State-controlled oil company Petroleo Brasileiro SA and its top executives face a class-action lawsuit in a federal court in New York over an alleged contract fixing, bribery and kickback scheme that lawyers say inflated the value of the company's assets. The suit was filed by law firm Wolf Popper LLP in the Southern District of New York on...

  • SEC Chief Accountant James Schnurr said in a speech that he does not have a predetermined view on an approach to the long-standing issue of harmonizing corporate accounting worldwide. The SEC for over a decade has grappled with whether and how to move the United States closer to IFRS, but has put off a final decision for years. The SEC requires U.S. companies to use...

  • Chamber of Commerce forms its own elite law team Monday, 8 Dec 2014 | 5:32 AM ET

    WASHINGTON, Dec 8- Advocacy groups have long played an important role in Supreme Court litigation, crafting amicus or "friend of the court" briefs in significant cases. But perhaps no other national advocacy organization has so embraced the trend toward Supreme Court specialization as the chief American business lobby, the U.S. Chamber of Commerce.

  • Boutrous represented the world's largest retailer, Wal-Mart, in one of the most anticipated business cases in years. Gibson Dunn is not the only law firm to turn Supreme Court appearances into gold. After the firm Sidley Austin won a Supreme Court patent case for eBay, it earned at least $10 million in unrelated legal fees from the online retailer, say people with...

  • Analyzing the impact of the Supreme Court bar Monday, 8 Dec 2014 | 5:32 AM ET

    NEW YORK, Dec 8- Our reporting team used a wide array of data and computing tools to produce the most comprehensive analysis to date of the U.S. Supreme Court private bar. The data contained appeals filed during Supreme Court terms beginning in 2004 through 2012. At the time we began our analysis, it was the most complete data available. The data included about...

  • Innovative lawyer changed the way top firms operate Monday, 8 Dec 2014 | 5:32 AM ET

    BETHESDA, Maryland, Dec 8- Although large firms dominate the list of those that are most successful at getting cases before the U.S. Supreme Court, there are a handful of exceptions. Perhaps the most notable is the unusual four-lawyer firm run by Thomas Goldstein in a Washington suburb 10 miles from the high court. Some of Goldstein's success can be traced to...

  • A Reuters examination of nine years of cases shows that 66 of the 17,000 lawyers who petitioned the Supreme Court succeeded at getting their clients' appeals heard at a remarkable rate. The lawyers are the most influential members of one of the most powerful specialties in America: the business of practicing before the Supreme Court. They are the elite of the...

  • Dec 5- A federal judge has thrown out a whistleblower lawsuit by a former official of a unit of advertising company WPP Plc who claimed he was fired in retaliation for reporting accounting irregularities to his superiors. District Judge Gregory Woods in Manhattan said Daniel Berman, who was a finance director at WPP's NeozOgilvy LLC unit, did not qualify for...

  • Battle for Club Med tests regulator's patience Thursday, 4 Dec 2014 | 9:52 AM ET

    *Club Med tussle is France's longest takeover battle. PARIS, Dec 4- France's financial regulator is speeding up the auction for Club Mediterranee in an effort to end the uncertainty for shareholders, but is likely to hold back from asking for sealed bids for now due to legal risks of a possible tie, lawyers said. The first dates back to May 2013, and the latest was on Dec....

  • U.S. watchdog says flaws persist in public company audits Wednesday, 3 Dec 2014 | 12:32 PM ET

    WASHINGTON, Dec 3- A sampling of audits of public companies reviewed last year showed numerous deficiencies in opinions issued by the four largest U.S. accounting firms, the top U.S. audit watchdog said on Wednesday. In a speech before the U.S. Chamber of Commerce, Public Company Accounting Oversight Board Chairman James Doty said that of the 219 "Big Four" audits...

  • LONDON, Dec 3- Britain plans to introduce a 25 percent tax to target multinationals such as tech companies Google and Amazon accused of using complex accounting schemes to cut their payments on earnings. Companies including Google, coffee shop chain Starbucks and internet retailer Amazon have paid minimal corporate tax in Britain by shifting revenues to...

  • MOSCOW, Nov 28- Sanctioned Russian companies hoping to tap Asian bond markets for financing are struggling to find lawyers, underwriters or even bourses to help with potential deals, banking sources said on Friday. Some of Russia's largest firms and banks, including No. 2 bank VTB and leading oil producer Rosneft, have championed Russia's turn to the East after...

  • *Platinum, palladium traders sued by jewelry maker. NEW YORK, Nov 25- Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals. In a complaint filed on Tuesday in the U.S. District...

  • LONDON, Nov 25- A London law firm is rallying Tesco Plc shareholders to join a lawsuit and seek compensation for losses after Britain's largest retailer discovered a hole in its profits, suspended eight senior employees and sparked a series of investigations. Stewarts Law, one of the litigators behind a 4 billion pound investor case against Royal Bank of...

  • DETROIT, Nov 24- Detroit is eying a date between Dec. 8 and 10 for its debt adjustment plan to take effect, allowing the city to exit the biggest-ever municipal bankruptcy, an attorney said on Monday. Heather Lennox, Detroit's attorney with law firm Jones Day, told U.S. Bankruptcy Court Judge Steven Rhodes that the city expects to complete a budget that incorporates...

  • Morgan Lewis announced on Friday that its partners voted to accept 227 partners from Bingham, which has about 300 overall. The announcement came days after Bingham partners voted to approve the deal. A Morgan Lewis spokeswoman declined to comment on the terms of the deal, and a Bingham spokeswoman did not immediately return a call for comment.

  • NEW YORK, Nov 13- An information technology engineer at Wilson Sonsini Goodrich& Rosati pleaded guilty on Thursday to insider trading based on information he learned while working at the prominent Silicon Valley law firm. Dimitry Braverman, 41, pleaded guilty in New York federal court to one count of securities fraud, two years after another Wilson Sonsini...