1. Articles from wsj.com

  2. 1-9 of 9
    1. Sculptor Will Pay $136M to Bribery Scheme Victims

      Sculptor Will Pay $136M to Bribery Scheme Victims

      Sculptor Capital Management Inc. has agreed to pay $136 million to a group of former investors in a Congolese mine who were found by a court to be victims of a decade-old bribery scheme involving the hedge fund.

      The proposed settlement would resolve a claim that has hung over Sculptor since shortly after it agreed to settle U.S. criminal charges related to the bribery scheme in 2016. The claim has prevented the hedge fund from finalizing part of that agreement.

      Bribery victims can be difficult to identify, and they rarely come forward to ask for restitution in cases such as the one involving Sculptor. The $136 million settlement is believed to be the first time a company has compensated ...

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    2. Lawsuits Accuse Big Hotel Chains of Allowing Sex Trafficking

      Lawsuits Accuse Big Hotel Chains of Allowing Sex Trafficking

      During the three months that S.Y. was forced into prostitution, she said blood and used condoms littered the hotel rooms where she had sex in Naples, Fla. Skinny, underdressed women loitered in hotel lobbies while men wearing gold chains waited their turns, she said. Once, a woman was left unconscious in a hotel bathtub, causing a minor flood. S.Y. said she called the front-desk manager.

      “He didn’t come to help the girl in the bathtub,” said S.Y., who spoke on condition that she be identified only by her initials, as she is in her lawsuit. “He came to clean up the water.”

      S.Y.’s lawsuit, in state court in Florida, is one of dozens filed ...

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      Mentions: Florida
    3. Fiat Chrysler Faces Rough Road Before $50B PSA Merger

      Fiat Chrysler Faces Rough Road Before $50B PSA Merger

      Fiat Chrysler Automobiles NV is banking on a planned $50 billion merger with Peugeot maker PSA Group to help it catch up with rival car companies. But in the year or so until the deal gets done, the Italian-American car maker risks falling farther behind.

      The company also faces falling sales volumes around the world, including a small decline in North America, where it generates more than 90 per cent of profit. Once-steady cash cow Jeep is stumbling, luxury brand Maserati is cratering, the umpteenth attempt to relaunch Alfa Romeo has fallen flat and Fiat sold 7 per cent fewer cars in Europe last year compared with 2018. And the cost of being an electric-car laggard is rising.

       

       

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    4. Insys bankruptcy plan now court approved

      Insys bankruptcy plan now court approved

      Shareholders of Insys are set to be wiped out under their newly approved Chapter 11 bankruptcy plan, and got permission to pay dimes on the dollar to all the entities that allege they were affected by the company's contribution to the opioid epidemic. 

      The plan was approved by Judge Kevin Gross in U.S. Bankruptcy Court in Wilmington, Delaware. 

      Creditors will recieve mere cents on the dollar, and the outlook is bleak for the company and its remaining followers. 

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    5. Sears Corp. Reaches $18M Settlement of Sale Dispute

      Sears Corp. Reaches $18M Settlement of Sale Dispute

      Deal requires Transform Holdco to hand over $12 million in cash to Sears

      Sears Holdings Corp., the estate of the iconic department store left behind in bankruptcy, has agreed to settle litigation over new owner Edward Lampert’s $5 billion purchase of the retailer’s best stores for more than $18 million.

      Sears sold its best assets including 425 of its most profitable stores back to Mr. Lampert’s hedge fund, ESL Investments Inc., last year, and an ESL-backed company, Transform Holdco LLC, became the new owner. 

       
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    6. U.S. and Iran Back Away from Imminent Conflict

      U.S. and Iran Back Away from Imminent Conflict

      President Trump moved to de-escalate hostilities with Iran, signaling no new U.S. military strikes following an Iranian missile barrage on Iraqi bases housing American and allied military forces that resulted in no casualties.

      "Iran appears to be standing down," Trump said in a televised address, his first public reaction beyond a tweet after missiles were fired from Iran. 

      Hours after the president spoke, Iraqi security officials said two rockets landed in Baghdad’s Green Zone, where the U.S. Embassy and other diplomatic missions are located. They said they caused no casualties and it wasn’t clear who had fired them.

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    7. Federal prosecutors begin criminal investigation of opioid makers

      Federal prosecutors begin criminal investigation of opioid makers

      Authorities have opened a criminal investigation into whether opioid drugmakers intentionally allowed prescription opioids to be diverted into American communities.

      The authorities are using a criminal law that is typically used against drug dealers.

      If the investigation results in charges, sources say it could become the largest prosecution yet of opioid drugmakers. 

      This new criminal investigation could mean trouble for the companies already undergoing civil litigation in the MDL.

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    8. Four Drug Companies Reach Settlement Hours Before Opioid MDL

      Four Drug Companies Reach Settlement Hours Before Opioid MDL

      McKesson Corp., Cardinal Health, Inc., AmerisourceBergen Corp. and Teva Pharmaceutical Industries Ltd. have settled  just hours before they were due in court for the opioid multidistrict litigation. 

      These four defendants reached a settlement in the landmark trial in Cleveland, Ohio that was meant to be a "bellwether trial" to determine how the other 2,600 cases would play out from negotiations to trial. 

      It is unclear whether this deal was for the proposed global negotiation or just for the bellwether trial against two Ohio counties. 

      Walgreens, another defendant, has not yet settled so it is unclear whether the trial will go forward. 

       

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    9. Callon Petroleum Acquires Carrizo Oil For $1.2 Billion

      Callon Petroleum Acquires Carrizo Oil For $1.2 Billion

      Callon Petroleum Co. has said it would buy Carrizo Oil & Gas Inc. for $1.2 billion in stock as the oil company seeks to build scale in key production areas in Texas. Callon said Monday it believes it will find $850 million in savings through cost cuts and due to the combined company’s larger scale. 

      Houston-based Callon will also assume the $1.7 billion in long-term debt Carrizo listed on its balance sheet at the end of the first quarter. The company also has $250 million in preferred shares. All in, the companies value the transaction at $3.2 billion.

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    1-9 of 9
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