Among the many ways Trump has shattered White House norms, his impulsive public communications rank among the most consequential. By inspiring investors or spooking them, his...Politicsread more
A federal judge in New York City on Wednesday said Deutsche Bank and Capital One can turn over financial documents related to President Donald Trump and his businesses in...Politicsread more
CNEX, backed by Microsoft and Dell, filed new allegations in a Texas suit accusing China's Huawei and an executive of trade secrets theft.Technologyread more
With Amazon and Walmart facing regulatory hurdles in India, Reliance's Mukesh Ambani isTechnologyread more
Japan's Panasonic said on Thursday it has stopped shipments of certain components to Huawei Technologies to comply with U.S. restrictions on the Chinese company.Technologyread more
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a trip to Beijing to resume trade negotiations has not been scheduled yet, reducing hopes of a speedy resolution...Asia Marketsread more
Research analyst Adam Jonas, a long-time Tesla bull, said it's extremely unlikely that big tech firms like Apple or Amazon would buy it.Technologyread more
The disclosures come as a federal judge ruled Wednesday that two other banks — Deutsche Bank and Capital One — can give financial documents to Congress, NBC News reports.Politicsread more
Shares of L Brands, the owner of Victoria's Secret and Bath & Body Works, rose nearly 11% in aftermarket trading Wednesday after the company reported it beat revenue and...Retailread more
Officials remained firmly committed to a "patient" policy stance at their meeting earlier this month.The Fedread more
The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for...Politicsread more
Investor Lynn Tilton is bringing in some new hired guns.
Tilton, who spent years cultivating a reputation as a savvy turnaround investor in distressed manufacturing companies, is facing multiple lawsuits from backers of her funds, as well as a fraud case which could result in her being barred from the securities industry.
Law firm Gibson, Dunn & Crutcher is going to work on Tilton's legal defense, after she was represented for years by from Skadden, Arps, Slate, Meagher & Flom, a source said. Skadden was listed alongside other lawyers working on her defense against the Securities and Exchange Commission, which last year accused her of fraud.
Skadden lawyers did not respond to a request for comment, but Tilton's communications firm, Brunswick Group, issued a statement on her behalf and confirmed the source's comments.
"Given the many baseless allegations that have been leveled at me and my firm, I decided that I needed a new general to lead my fight for truth," Tilton said through a spokeswoman. "I believe that Randy Mastro and his team at Gibson, Dunn & Crutcher are the right people to assist me and my other outside counsel in this battle going forward. I have always greatly appreciated our relationship with Skadden, thank them for their work and support, and expect to continue to call upon them for counsel in this transition and beyond."
The change comes at a time when legal challenges against Tilton are heating up.
Earlier this year, Alvarez & Marsal, the bankruptcy consultant that helped dismantle Lehman Brothers after its failure, took over credit funds that were raised by and for years operated by Tilton. Soon after, the bankruptcy consultant and Patriarch Partners, the distressed investment firm she still runs.
Tilton is still facing fraud charges from the SEC, as well. Earlier this month, to the agency's accusations against her, which paves the way for the SEC's fraud case to move forward.
Skadden was listed in SEC documents regarding the fraud case against Tilton and also in litigation with some of her investors, which sued her after incurring sizable losses on the credit funds used to support Patriarch investments.