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  • Ashley Madison CEO steps down in wake of hacking Friday, 28 Aug 2015 | 10:38 AM ET

    NEW YORK— The CEO of the company that runs adultery website Ashley Madison is stepping down in the wake of the massive breach of the company's computer systems and outing of millions of its members. "Unless they can immediately assure the public that their information is protected, then their business is over," says Lawrence Kellogg, a partner with the law firm...

  • BNY Mellon said an accounting system it relies on to calculate the prices of clients' mutual funds and exchange traded funds broke down over the weekend just as investors headed into a global market meltdown sparked by fears over the Chinese economy. The system, run by financial software provider SunGard, resumed with limited capacity on Tuesday but was still...

  • *Greece deal shows "pick and mix" approach to bank rescues. LONDON, Aug 26- European Union rules to shield taxpayers from having to rescue ailing banks should be applied flexibly because of broader economic imperatives highlighted by the latest Greek rescue package, analysts and lawyers say. Euro zone finance ministers this month agreed an 86 billion euro third...

  • NEW YORK, Aug 25- A man whose wife was a key figure in the recent rejection of an antitrust settlement between American Express Co and a group of retailers pleaded guilty on Tuesday to conspiring with her to defraud two New York law firms where she was a partner out of $7.8 million. Melvin Feliz, 48, of Englewood Cliffs, New Jersey, admitted to one count of conspiracy to...

  • SAO PAULO, Aug 19- Brazil's state-run oil firm Petroleo Brasileiro SA said in a securities filing on Wednesday it was not in negotiation to pay a fine to settle criminal and civil investigations in the United States. The law firms report to Ellen Gracie Northfleet, former chief justice of Brazil's Supreme Court and Andreas Pohlmann. Gibson, Dunn& Crutcher LLP said...

  • NEW YORK, Aug 18- Avon Products Inc is seeking approval of a $62 million settlement of a U.S. lawsuit accusing the cosmetics company of defrauding shareholders by concealing its failure to stop workers from bribing officials in China to win business. The proposed settlement was filed on Tuesday with the U.S. District Court in Manhattan and requires a judge's...

  • Arab Bank settles U.S. lawsuit over Hamas attacks Friday, 14 Aug 2015 | 3:00 PM ET

    NEW YORK, Aug 14- Arab Bank Plc has agreed to settle U.S. litigation accusing it of facilitating Hamas attacks in Israel, nearly a year after a U.S. jury found the bank liable. The litigation against Arab Bank included claims brought by approximately 500 U.S. citizens who said they were either victims of Hamas attacks or the family members of victims.

  • NEW YORK, Aug 10- When it comes to hiring accountants, U.S. public companies tend to favor people who show a willingness to flatter corporate profits by massaging the numbers, researchers have found. In a study that suggests fighting corporate number-fudging is not just a matter of tweaking a few rules, accounting experts at the University of South Carolina said...

  • *Report shows discussion with Toshiba, auditors on Westinghouse loss. TOKYO, Aug 6- As more details emerge about years of accounts manipulation at Japanese conglomerate Toshiba Corp, corporate governance experts say there needs to be more scrutiny of the role of the company's auditors. But lawyers and corporate governance experts who have analyzed the 294-...

  • GARAUFIS ORDERS ONE LAW FIRM REMOVED AS CO-LEAD COUNSEL IN AMEX ANTITRUST CASE, ORDERS NEW ROUND OF BRIEFING.

  • E&Y Japan arm launches internal probe of Toshiba audit Friday, 31 Jul 2015 | 11:36 PM ET

    TOKYO, Aug 1- The Japanese affiliate of Ernst& Young LLC has launched an in-house investigation into its audit of Toshiba Corp in the wake of the electronics maker's $1.2 billion accounting scandal, a person with knowledge of the matter said. Ernst& Young ShinNihon LLC has established a team of about 20 executives to investigate whether there were any problems...

  • SAO PAULO, July 30- The lawyer behind the plea bargain deals that helped investigators unearth a multi-billion-dollar corruption scandal at Brazilian state-run oil firm Petrobras said on Thursday she closed her law firm because she felt threatened by a congressional committee. A congressional committee investigating Petroleo Brasileiro SA, as...

  • TORONTO, July 29- A Canadian law firm said it filed a lawsuit against Fiat Chrysler Automobiles on Wednesday seeking $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 claims...

  • NEW YORK, July 29- A former employee of a major Silicon Valley law firm was sentenced to two years in prison on Wednesday for illegally trading ahead of mergers that were underway at the firm. Braverman, an immigrant from Ukraine who lives in San Mateo, California, in court apologized for his conduct while employed in Wilson Sonsini Goodrich& Rosati's information...

  • 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...

  • 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...