Macy's sues JC Penney and Martha Stewart for deal. JC Penney CEO Ron Johnson knew that if he signed the deal with Martha Stewart, he would be putting the company in jeopardy by creating a conflict with Macy's, its corporate rival.
Legal & Regulatory
Copeinca Hires Financial Advisers
China Fishery Group offered to purchase Copeinca, thus moving the Peruvian firm to seek proper financial advice.
MetroPCS Pressured to Update Documents for Merger with T-Mobile
MetroPCS faces pressure from P. Schoenfeld Asset Management, which owns about 2% of its shares, to update the merger documents with the Deustche Telekom AG's unit T-Mobile USA to reflect T-Mobile's earnings.
Kodak Gets Flexible Financing
Kodak gets flexible financing and reorganization plans as it prepares to come out of bankruptcy. The bankrupt photography icon Eastman Kodak Inc was allowed to amend its financing deal in order to become more financially flexible as it girds to exit Chapter 11 bankruptcy protection.
Wynn Faces Suit over Breach of Fiduciary Duties
Wynn faces another suit for the cash donation to University. The Board of Directors of Wynn Resorts Ltd and its owner, billionaire hotelier Steve Wynn is now facing another shareholder lawsuit alleging that US$135 million donation to the University of Macau had wasted company assets and was in breach of its fiduciary duties.
Latest News
For national security concerns, CNOOC cannot use Gulf assets. China's largest offshore oil and gas producer CNOOC has been disallowed to control oilfields in the Gulf of Mexico.
In its filing with the U.S. Securities and Exchange Commission, BofA disclosed that the state of New York has been investigating how it acquire and underwrites home loans.
Greenlight ends legal battle with Apple over shareholder vote. In a surprising move, Greenlight Capital has withdrawn its suit against Apple Inc. Greenlight's maverick head David Einhorn sought court intervention to stop the most valuable company in the world's shareholders from voting on a management proposal to prevent the company's ability to issue preferred shares at its discretion.
Lloyds Bank to pay for past misdeeds. Britain's largest retail bank, Lloyds is set to announce an increase in money for compensation to pay customers and clients for losses sustained on mis-sold loan insurance.
Court ruling ordering Argentina to pay debt notes on appeal. Analysts project that Argentina would lose its case against its creditors in its case filed in US courts.
Ryanair's third attempt to purchase Aer Lingus refused by EU regulators. European Union regulators have refused to validate the third purchase attempt by Ryanair to acquire Aer Lingus.
Scams on fraudulent private equities rob individuals of hard earned money. The city of Tianjin in China was rocked with controversy as thousands of retail investors claimed they were tricked by a group that offered illegal wealth management products.
The bankruptcy plan filed by Dewey & LeBoeuf was approved by judge Martin Glenn. U. S. Bankruptcy judge Martin Glenn has approved the liquidation plan of Dewey & LeBoeuf, which once had over 1,000 lawyers in 206 offices around the world.
Dewey and LeBoeuf bankruptcy plan approved. A federal bankruptcy court ordered the approval of the liquidation plan for Dewey and LeBoeuf. This is a milestone for the closure of the collapsed law firm to pave the way for creditors to recover their losses.
