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  • NEW YORK— A former software engineer at a prominent California law firm was sentenced Wednesday to two years in prison for insider trading by a judge who noted that he should have realized the dangers of what he was doing when one of his firm's lawyers was arrested on the same charges in a separate prosecution. District Judge Paul A. Engelmayer in Manhattan told...

  • HONG KONG, July 30- Toshiba Corp's years-long practice of inflating its profits has raised questions among accounting experts about whether low fees paid by Japan- listed companies to their auditors mean they do not spend enough time scrutinizing company accounts. Toshiba chief executive Hisao Tanaka and a string of other senior officials resigned last...

  • TORONTO, July 29- A Canadian law firm said it filed a lawsuit against Fiat Chrysler Automobiles on Wednesday seeking about $4 billion in damages, in connection with the massive recall announced by the automaker earlier in July. Merchant Law Group said the lawsuit, which seeks class action status, was filed in the Superior Court in Montreal. It said it plans to file...

  • NEW YORK, July 29- Dozens of retailers are seeking to void nearly $6 billion of U.S. antitrust settlements with Visa Inc, MasterCard Inc and American Express Co after learning that opposing lawyers exchanged confidential information, potentially tainting the accords. A group of retailers filed papers that remain under seal in the Brooklyn, New York federal...

  • LONDON, July 29- Asking outside auditors to vouch for the accuracy of a bank's key measure of health could help restore investor trust in the sector, a London- based accounting body said on Wednesday. The Institute of Chartered Accountants in England and Wales kicked off a public consultation on how accountants could check on bank capital ratios, a measure of...

  • BOSTON— Lawsuits challenging Massachusetts' decision to award Wynn Resorts a gambling license have come with a hefty price tag. The state Gaming Commission and three cities involved in the legal fight— Boston, Revere and Somerville— have spent more than $1.4 million combined since the first complaints were filed in October, a review by The Associated Press has...

  • TORONTO, July 23- Toronto taxi drivers are launching a class-action lawsuit against ride-sharing company Uber Technologies Inc, seeking more than C $400 million in damages and an injunction to stop it operating in the Canadian province of Ontario. Law firm Sutts, Strosberg LLP, which is representing the taxi drivers, said in a statement on Thursday that the...

  • Skadden loses ruling on overtime pay for lawyers Thursday, 23 Jul 2015 | 1:17 PM ET

    NEW YORK, July 23- A federal appeals court said on Thursday the New York law firm Skadden, Arps, Slate, Meagher& Flom may owe overtime pay to a contract lawyer for performing non-legal work, a decision that could make it more costly for firms to hire temporary lawyers. The 2nd U.S. Circuit Court of Appeals said contract lawyers can be eligible under federal labor law for...

  • RALEIGH, N.C.— A coalition of environmental groups is supporting Duke Energy's effort to dismiss part of long-running lawsuit over pollution leaking from the company's coal ash dumps. "It is good news that Duke Energy has now publicly committed to do the right thing at half of its coal plant sites in North Carolina. The seven plants that would be cleaned up under...

  • UPDATE 4-Toshiba CEO quits over accounting scandal Tuesday, 21 Jul 2015 | 7:41 AM ET

    *Toshiba shares rise 6 pct in relief rally. TOKYO, July 21- Toshiba Corp's chief executive Hisao Tanaka and a string of other senior officials resigned on Tuesday for their roles in the country's biggest accounting scandal in years. Muromachi is considered a safe pair of hands to lead Toshiba through its current turmoil before handing the reins to a successor.

  • NEW YORK, July 20- MF Global Holdings Ltd commodities customers may pursue their lawsuit seeking hundreds of millions of dollars from former chief executive Jon Corzine and other officials over the brokerage's bankruptcy as a class action, a federal judge said on Monday. District Judge Victor Marrero in Manhattan said it was desirable to let the roughly...

  • NEW YORK, July 16- The Federal Housing Finance Agency disclosed on Thursday that it paid two law firms over $373 million since 2010 to pursue litigation against several banks over mortgage-backed securities sold to Fannie Mae and Freddie Mac before the financial crisis. Stefanie Johnson, an FHFA spokeswoman, said its hiring of private law firms "has been a...

  • NEW YORK, July 16- The Supreme Court was definitive in its decision to legalize gay marriage nationwide, but what is far from clear is whether U.S. companies must offer corporate benefits to same-sex spouses. In a Reuters survey of 60 large U.S. employers, nearly half said they were already providing benefits to same-sex spouses before the Supreme Court ruling...

  • NEW YORK, July 13- Former top executives at defunct law firm Dewey& LeBoeuf, including chairman Steven Davis, conspired to falsify income statements in an attempt to forestall its collapse in 2012, the firm's former finance director testified Monday in New York. Francis Canellas, expected to be the key prosecutorial witness at the criminal trial of Davis,...

  • NEW YORK, July 10- A U.S. judge has rejected Brazilian state-run oil producer Petrobras' effort to dismiss a lawsuit claiming that years of corruption, including bribery, caused more than $98 billion of its stock and bonds to be overvalued. Shareholders led by England's Universities Superannuation Scheme Ltd alleged that Petrobras, whose formal name is...

  • NEW YORK, July 9- A former associate of Bernard Madoff avoided prison on Thursday for his role in perpetuating the fraudster's massive Ponzi scheme because of his extensive cooperation with prosecutors. Paul Konigsberg, 79, a lawyer and accounting firm executive, pleaded guilty in June 2014 to charges of conspiracy and falsifying books and records.

  • FACTBOX-Contenders to be Barclays chief executive Thursday, 9 Jul 2015 | 8:48 AM ET

    Morzaria was born in Uganda and moved to Britain in 1971. The British citizen, who graduated in computer science and accounting from Manchester University, is a qualified chartered accountant. He has also worked at Credit Suisse and SG Warburg. Colm Kelleher, Morgan Stanley president of institutional sales: 3/ 1.

  • *Toshiba set for profit writedowns, may seek credit line- sources. TOKYO, July 9- An independent investigation of Toshiba Corp's accounting irregularities is looking at the role played by top officials, people familiar with the matter said, a move that could force a management overhaul at the Japanese conglomerate. Toshiba has been unable to close its books for...

  • TOKYO, July 9- An independent investigation of Toshiba Corp's accounting irregularities is looking at the role played by top officials, people familiar with the matter said, a move that could force a management overhaul at the Japanese conglomerate. As the probe has widened from looking into accounting errors at Toshiba's infrastructure business to...

  • Canadian law firm Gowlings, Britain's WLG to merge Wednesday, 8 Jul 2015 | 8:42 AM ET

    TORONTO, July 8- Canadian law firm Gowlings has agreed to merge with Britain's Wragge Lawrence Graham& Co LLP in a deal that could lead to further international expansion, the two firms said on Wednesday. It will have more than 1,400 lawyers in Canada, the United Kingdom, Europe, Asia and the Middle East. Both operate in the United Kingdom, Russia and China, but Gowlings...