HSBC Holdings Plc, UniCredit SpA, Merrill Lynch and hundreds of other defendants in lawsuits filed by the liquidator of Bernard Madoff’s defunct firm are finding that their best ally may be U.S. District Judge Jed S. Rakoff.
The U.S. is probing the possibility of anticompetitive practices in the e-book industry, Sharis Pozen, the acting chief of the U.S. Justice Department’s antitrust division told a House committee in Washington yesterday.
Bankruptcy judges don’t have power to make final rulings on claims for fraudulent transfers and unjust enrichment, a federal judge said, citing a U.S. Supreme Court ruling in the Anna Nicole Smith case.
David Wormsley, the Citigroup Inc. banker accused by Guy Hands of misleading him in the 2007 auction of EMI Group Ltd. , testified that Terra Firma Capital Partners Ltd. founder would have trusted his advice at times.
Lloyd Blankfein, chief executive officer of Goldman Sachs Group Inc., told jurors that Rajat Gupta wasn’t authorized while he was a board member to disclose the bank’s earnings to outsiders before the public announcement.
A federal judge yesterday refused to immediately endorse a settlement between the U.S. and a bank for a third time in a year, calling a proposed $298 million fine of Barclays Plc for trading with Iran, Cuba and Sudan “a sweetheart deal.”