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attack Benchmark Capital Business court lawsuit 

Former Uber CEO says investor lawsuit a ‘public and personal attack’

August 18, 2017 By Heather Somerville SAN FRANCISCO (Reuters) – The ousted chief executive of Uber Technologies Inc [UBER.UL] rejected a lawsuit filed against him by one of the company’s top investors as a “public and personal attack” without merit, according to court documents filed late on Thursday. Venture capital firm Benchmark Capital, which says it owns 13 percent of Uber and controls 20 percent of the voting power, last week sued former Uber CEO Travis Kalanick to force him off the board, where he still has a seat, and…

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Business court death email GM 

GM creditor trust drops settlement with ignition switch plaintiffs

August 17, 2017 By Brendan Pierson NEW YORK (Reuters) – In a blow to people suing General Motors Co over faulty ignition switches and other alleged vehicle defects, a trust that holds many GM liabilities from before its 2009 bankruptcy has canceled a settlement that sought to force the automaker to pay $1 billion in shares to resolve millions of claims. The claims stem from GM’s 2014 recall of 2.6 million vehicles with defective ignition switches, including one linked to 124 deaths. They have since expanded to include millions of…

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Business court death GM Steve Berman 

GM blasts $1 billion deal between ignition switch plaintiffs, creditor trust

August 11, 2017 By Brendan Pierson (Reuters) – Plaintiffs suing General Motors Co over faulty ignition switches and other alleged vehicle defects have reached a $1 billion settlement requiring the automaker to turn over that amount of stock, a lawyer for the plaintiffs said in a court hearing on Friday. GM lawyer Richard Godfrey strongly criticized the agreement, telling U.S. District Judge Jesse Furman in Manhattan the Detroit-based company was given no say in the deal negotiated between the plaintiffs and a trust set up for creditors of “old GM,”…

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Ardley Fuqua court Entertainment Liberty Mutual Group New Jersey Turnpike Top News 

Wal-Mart, insurers settle lawsuits over 2014 Tracy Morgan crash

August 7, 2017 By Jonathan Stempel (Reuters) – Wal-Mart Stores Inc has settled a lawsuit by two insurers that sought to avoid covering its multi-million-dollar payout to comedian Tracy Morgan for injuries he suffered in a 2014 crash involving one of the retailer’s trucks. U.S. District Judge Freda Wolfson in Trenton, New Jersey, on Monday ordered the dismissal of all claims against Wal-Mart by Ohio Casualty Insurance and Liberty Insurance Underwriters, and all counterclaims by Wal-Mart against the insurers. Terms of the settlement are confidential, and both sides agreed not…

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Business court crime government South Korea 

Samsung scion Lee fights back tears as prosecutors seek 12 years’ jail

August 7, 2017 By Joyce Lee and Christine Kim SEOUL (Reuters) – Samsung Electronics Vice Chairman Jay Y. Lee fought back tears and denied wrongdoing on Monday as prosecutors sought a 12-year jail term on charges that include bribing the former president to help cement control of the South Korean tech giant. Lee, the de facto leader of one of Asia’s largest conglomerates, has been in detention since February on trial for charges ranging from embezzlement to perjury, in a scandal that gripped the country for months and led to…

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Business court fraud Martin Shkreli U.S. 

Former drug company executive Martin Shkreli is convicted of fraud

August 4, 2017 By Brendan Pierson NEW YORK (Reuters) – Martin Shkreli was convicted of fraud by jurors in a U.S. court in Brooklyn on Friday, in a blow for the controversial former drug company and hedge fund executive, who had forcefully and repeatedly proclaimed his innocence. Jurors found Shkreli guilty of two counts of securities fraud and one count of conspiracy, but acquitted him of five other conspiracy counts he had faced. Federal prosecutors had accused the 34-year-old of defrauding investors in his hedge funds and stealing from his…

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court Economy government lawsuit Top News U.S. 

U.S. court puts MetLife ‘too big to fail’ case on indefinite pause

August 2, 2017 By Lisa Lambert WASHINGTON (Reuters) – Any legal decision on whether the largest U.S. life insurer MetLife Inc should be labeled “too big to fail” will probably come after the Trump administration defines its stance on the designation. A U.S. appeals court said on Wednesday that a U.S. government appeal of a ruling last year that the label was wrongly applied to MetLife would remain in abeyance until further court order. The label indicates companies that are not banks are still so large and interconnected they could…

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court documentary Entertainment Peter Settelen sex Top News 

Princess Diana’s revelations about sex and sorrow to be aired on British TV

August 1, 2017 By Emma Rumney LONDON (Reuters) – Recordings of Princess Diana speaking candidly about her sex life with Prince Charles and her sorrow at the spectacular collapse of her marriage will be broadcast on British television on Sunday. Diana, first wife of the heir to the British throne, died aged 36 in Paris on Aug. 31, 1997, after the limousine carrying her and lover Dodi al-Fayed crashed in a tunnel as it tried to escape paparazzi who were chasing them on motorbikes. Diana was just 19 when she…

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Business CFPB court Ohio President Donald Trump 

Outside adviser to Trump calls for firing of CFPB head Cordray

July 30, 2017 By Sarah N. Lynch and Susan Cornwell WASHINGTON (Reuters) – An outside adviser to U.S. President Donald Trump called on Sunday for the firing of Consumer Financial Protection Bureau director Richard Cordray. Corey Lewandowski, Trump’s former campaign manager who still speaks regularly to the president, criticized a CFPB rule that would make it easier for consumers to sue financial companies. Currently, many consumers are required to settle disputes related to credit cards and other banking products through mandatory arbitration. “It’s my recommendation to the president of the…

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Business California court Japan Western Digital Corp 

Toshiba to give Western Digital notice on closing memory sale

July 28, 2017 By Stephen Nellis (Reuters) – Toshiba Corp has agreed to give Western Digital Corp two weeks’ notice before closing any sale of a memory chip unit that would involve transferring joint venture shares that Western Digital claims give it a say in the $18 billion sale of the unit. San Francisco Superior Court Judge Harold Kahn on Friday approved an agreement between the two. Notice from Toshiba to Western Digital will give Western Digital the opportunity to come back to the court or an arbitration panel to…

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