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Commercial and Professional Services Professional Services

  • In a 9-0 ruling, the Supreme Court found that the SEC's recovery remedy known as "disgorgement" is subject to a five-year statute of limitations. The justices sided with New Mexico- based investment adviser Charles Kokesh, who previously was ordered by a judge to pay $2.4 million in penalties plus $34.9 million in disgorgement of illegal profits after the SEC...

  • NEW YORK, June 2- A federal appeals court on Friday ordered Whole Foods Market Inc to face a proposed class-action lawsuit accusing it of overcharging shoppers in New York City by overstating the weight of pre-packaged food in its supermarkets. The 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge had erred in concluding that the plaintiff...

  • Ohio on Wednesday became the latest, and largest, state or local government to bring an opioid lawsuit, suing Purdue Pharma LP, Johnson& Johnson's Janssen Pharmaceuticals Inc unit, Endo International Plc, Teva Pharmaceutical Industries Ltd's and Allergan Plc.. Mississippi, counties in New York and California and the city of Chicago have filed similar lawsuits...

  • Clayton worked with Peikin at Sullivan& Cromwell, noted for its representation of financial institutions, until the former left to become SEC chair. A former federal prosecutor turned white-collar defense attorney, Peikin has represented major banks at Sullivan& Cromwell and would have to follow SEC recusal rules involving law firm clients.

  • The proposed class-action lawsuit was filed in the federal court in Detroit on behalf of people who own or lease more than 705,000 Silverado and Sierra trucks fitted with "Duramax" engines from the 2011 to 2016 model years. A spokesman for the Detroit- based automaker did not immediately respond to a request for comment. The case is Fenner et al v General Motors LLC...

  • May 25- LAWSUIT SAYS EMISSIONS TESTING HAS REVEALED THAT SILVERADO, SIERRA MODELS' EMISSIONS ARE HIGHER THAN FEDERAL REGULATORS PERMIT LAWSUIT ACCUSES GM OF USING THREE DEFEAT DEVICES IN ITS DURAMAX DIESEL ENGINES LAWSUIT FILED BY THE HAGENS BERMAN LAW FIRM SEEKS CLASS ACTION STATUS ON BEHALF OF SILVERADO, SIERRA OWNERS FOR 2011-2016 MODEL YEARS General...

  • "I saw a lot of anti-patent people doing a victory dance yesterday without really understanding what this decision means," said David Pridham, chief executive of Dominion Harbor Group, a Texas- based company that buys patents and seeks to license them to other companies. "According to PricewaterhouseCoopers, 39 percent of all patent lawsuits in fiscal year 2016...

  • NEW YORK/ LONDON, May 19- Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world's political hotspots to recoup losses caused by ransomware viruses such as "WannaCry", insurers say. Cyber insurance can be expensive to buy and is not widely used outside the United States, with one insurer previously...

  • NEW YORK, May 18- A federal judge on Thursday dismissed two lawsuits seeking to hold Facebook Inc liable for supporting terrorist groups by letting them use its social media platform to further their goals, including violence against Jews. District Judge Nicholas Garaufis in Brooklyn dismissed a $3 billion damages lawsuit by relatives of American victims of...

  • NEW YORK, May 18- A federal judge on Thursday dismissed two lawsuits seeking to hold Facebook Inc liable for supporting terrorist groups by letting them use its social media platform to further their goals, including violence against Jews. District Judge Nicholas Garaufis in Brooklyn dismissed a $3 billion damages lawsuit by relatives of American victims of...

  • LONDON, May 18- Britain's ruling Conservative Party on Thursday pledged to scrap the Serious Fraud Office and roll it into a broader crime-fighting body if it wins the June 8 national election, in a move roundly criticised by lawyers and anti-corruption groups. Prime Minister Theresa May's party manifesto document, which lists policy proposals, said it would...

  • LONDON, May 18- Insurers in over 100 countries face a "once in a lifetime" accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. The new rule from the International Accounting Standards Board will affect 450 listed insurers who manage $13 trillion in assets.

  • LONDON, May 18- Insurers in over 100 countries face a "once in a lifetime" accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. The new rule from the International Accounting Standards Board will affect 450 listed insurers who manage $13 trillion in assets.

  • LIMA, May 17- A former Peruvian governor suspected of arranging bribes from Odebrecht was arrested on Wednesday, while police raided Lima law firms thought to have ties to the Brazilian construction company, the attorney general's office said. Odebrecht has admitted to paying $29 million in bribes to win contacts in Peru, one of 12 countries where it confessed...

  • The new estimate was provided in a filing late Thursday night in the federal court in San Francisco, and is 1.4 million accounts higher than previously reported by federal regulators, in what became a national scandal. Wells Fargo spokesman Ancel Martinez in an email said the new estimate was "based on a hypothetical scenario" and unverified, and did not reflect "...

  • Wells Fargo spokesman Ancel Martinez in an email said the new estimate was "based on a hypothetical scenario" and unverified, and did not reflect "actual unauthorized accounts. District Judge Vince Chhabria in San Francisco is scheduled to consider preliminary approval at a May 18 hearing. John Stumpf and Carrie Tolstedt, who were respectively the San...

  • *InVentiv owned by PE firms Advent, Thomas H. Lee Partners. May 10- INC Research Holdings Inc said on Wednesday it would merge with private equity-owned inVentiv Health Inc, a fellow contract research services provider, in a $4.6 billion all-stock deal to help it win contracts with large pharma companies. INC mainly caters to small and mid-sized pharma companies,...

  • *InVentiv owned by PE firms Advent, Thomas H. Lee Partners. May 10- INC Research Holdings Inc said on Wednesday it would buy fellow contract research services provider inVentiv Health Inc in a $4.6 billion deal to tap into the growing demand from healthcare companies for laboratory services. InVentiv, which is equally owned by private equity firms Advent...

  • May 10- INC Research Holdings Inc, which provides medical firms with clinical research services, said on Wednesday it would buy privately held inVentiv Health Inc in a deal valued at about $4.6 billion.

  • David R. Humphrey, 60, who worked in the SEC's Division of Corporation Finance for 16 years, pleaded guilty to filing false ethics forms in order to conceal his trading, the Justice Department said. When he was confronted by agents in the SEC's inspector general's office in 2014, the SEC said, he continued to lie about his trading. The SEC's charges against Humphrey...