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  • May 8- Dov Charney, the ousted chief executive of American Apparel Inc, has filed a $30 million defamation lawsuit against a New York hedge fund that controls a large stake in the clothing company he founded, and which refused to support his return. American Apparel attributed the suspension to Charney's alleged misuse of company funds and failure to stop a...

  • Tax documents: What to shred, and what to keep Friday, 8 May 2015 | 10:31 AM ET
    Taxes 1040 Other Taxes

    With tax season behind you, now is a good time to consider how you save your tax returns and other financial documents, NYT reports.

  • NEW YORK, May 6- A group of hedge funds that hold Puerto Rico's government debt plans to hire a litigation law firm as a financing deal that could help save the U.S. territory from a potential default looks increasingly remote. The Ad Hoc group of hedge funds, which holds $4.5 billion of Puerto Rico's debt, is planning to hire Robbins, Russell, Englert, Orseck,...

  • Thomson Reuters Corp reports a rise in total revenue Wednesday, 29 Apr 2015 | 7:14 AM ET

    April 29- Thomson Reuters Corp on Wednesday reported a rise in total quarterly revenue on the strength of its Legal and Tax& Accounting business and improved sales at its Financial& Risk division. For the first quarter, total revenue increased 2 percent before currency changes to $3.04 billion, in line with analysts expectations, according to Thomson Reuters...

  • WILMINGTON, Delaware, April 28- Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors, alleges $98...

  • NEW YORK, April 27- Bankruptcy lawyer Harvey Miller, who led Lehman Brothers through its record-breaking Chapter 11 case starting in 2008, has died at 82 after a battle with ALS, his law firm, Weil Gotshal& Manges, announced on Monday. After joining Weil in 1969, Miller built the firm's bankruptcy practice into a global powerhouse, playing key roles in the...

  • April 27- Jury selection kicked off on Monday in New York state court in the criminal trial of three former leaders of defunct law firm Dewey& LeBoeuf. Potential jurors began filling out questionnaires in the trial against former Dewey chair Steven Davis, ex-executive director Stephen DiCarmine and former chief financial official Joel Sanders.

  • NEW YORK, April 22- Prominent U.S. litigator David Boies is squaring off against another top American attorney, Alan Dershowitz, in a legal fight centered around a woman who says she was trafficked for sex as an underage girl. Boies and his firm are representing Virginia Roberts, who is a possible witness in a defamation lawsuit in Florida state court pitting...

  • Tesco gives more detail on supplier deals after scandal Wednesday, 22 Apr 2015 | 4:55 AM ET

    LONDON, April 22- Tesco provided more information about how it accounts for relationships with suppliers on Wednesday after an accounting scandal that contributed to an annual loss of 6.4 billion pounds. Britain's biggest retailer announced last year it had overstated profits by 263 million pounds due to booking deals with suppliers too early, prompting a...

  • Bank of America settles currency-rigging lawsuit Thursday, 16 Apr 2015 | 12:00 PM ET

    NEW YORK, April 16- Bank of America Corp has settled its portion of a U.S. antitrust lawsuit in which investors accused 12 major banks of rigging prices in the foreign exchange market. Bank of America is the third bank to settle investor claims related to the $5.3 trillion- a-day currency market. Scott& Scott said Bank of America's settlement will "mirror" the earlier...

  • The fitness chain, jointly owned by the Virgin Group of entrepreneur Richard Branson and buyout firm CVC Capital Partners, has 267 gyms across nine countries including South Africa, home to the largest number of Virgin Active clubs, Thailand and Britain. Brait has proposed to take an 80 percent stake in Virgin Active for 682 million pounds, valuing the gym chain...

  • NEW YORK, April 15- Ernst& Young LLP will pay $10 million to settle a New York lawsuit accusing the accounting firm of helping Lehman Brothers Holdings Inc deceive investors in the years leading up to its 2008 collapse, the New York attorney general said on Wednesday. While the $10 million was much smaller than what the attorney general's office had sought, Ernst&...

  • NEW YORK, April 15- Ernst& Young LLP will pay $10 million to settle a New York lawsuit accusing the accounting firm of helping Lehman Brothers Holdings Inc deceive investors in the years leading up to its 2008 collapse, the New York attorney general said on Wednesday. While the $10 million was much smaller than what the attorney general's office had sought, Ernst&...

  • NEW YORK, April 15- Ernst& Young LLP is near settling a high-profile lawsuit filed by New York state that accused the accounting firm of helping Lehman Brothers Holdings Inc deceive investors in the years leading up to its 2008 collapse, people familiar with the matter told Reuters. A spokeswoman for Ernst& Young declined to comment, as did a spokesman for New York...

  • BEIJING, April 15- The Chinese government has hired seven accounting firms to carry out an audit of the overseas assets of China's state-owned enterprises, the sector's regulator said on Wednesday, as it tries to improve transparency and combat corruption. The State-owned Assets Supervision and Administration Commission said that it will spend 11.39...

  • LeBoeuf would swing by the local H&R Block office, pay $150 and end up with a refund. The 32- year-old from Providence, Rhode Island paid $470 this year to a professional tax preparer, and her refund got eaten up by the taxes on her side gig income. "There are a lot of people out there who are starting to realize they don't have it all together," says Robert Wheeler, who runs...

  • COLUMN-What to do when you can't pay your tax bill Monday, 13 Apr 2015 | 4:00 AM ET

    And despite television ads to the contrary, settlements aren't easy to win, particularly when you have assets the IRS can go after. "It's not going to work with the IRS." The consequences of owing the IRS are severe enough that people should search hard for ways to pay, tax professionals said.

  • NEW YORK, April 1- A New York lawyer was charged on Wednesday over his alleged role in a scheme by a former United Parcel Service Inc executive's son to fraudulently obtain millions of dollars to finance the purchase of Maxim magazine. Harvey Newkirk, a former lawyer at the law firm Bryan Cave LLP, was charged in a criminal complaint filed in Manhattan federal court...

  • NEW YORK, April 1- A New York lawyer was arrested on Wednesday for his alleged role in a scheme by the son of a former United Parcel Service Inc executive to fraudulently obtain millions of dollars to finance the purchase of Maxim magazine, the lawyer's counsel said. Harvey Newkirk, a former lawyer at the law firm Bryan Cave LLP, was charged in a criminal complaint...

  • TORONTO, March 30- A Nova Scotia law firm has said it will file a class action lawsuit representing passengers on an Air Canada flight that suffered heavy damage after landing short of the runway in Halifax on Sunday, CBC News said on Monday. The report said MacGillivray Injury and Insurance Law was instructed to file a lawsuit by an individual who is seeking...