Joseph Grundfest News
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Weil Gotshal & Manges LLP and Proskauer Rose LLP represented American Realty Capital Properties Inc., which offered to buy Cole Credit Property Trust III Inc. for at least $5.7 billion, seeking to create one of the largest real-estate investment trusts that leases space to single tenants. Sullivan & Cromwell LLP is advising Cole Holdings as owner of the external manager to Cole Credit Property Trust III.
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The number of securities class- action settlements fell to a 14-year low in 2012 while their average dollar value rose to an all-time high, a research study found.
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Apple Inc. said it will fight Greenlight Capital Inc.’s bid to bar it from adopting a measure that would restrict its ability to issue preferred stock.
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Netflix Inc. Chief Executive Officer Reed Hastings said he will keep posting on Facebook as the U.S. Securities and Exchange Commission weighs whether to file a lawsuit over a disclosure he made on the social network.
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The number of securities class action settlements approved by U.S. courts dropped in a “weak year” to the lowest point in a decade as the average amount of each accord fell by 42 percent in 2011, according to a report.
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Federal securities class actions decreased in the first half of 2012 compared with last year largely because of a decline in Chinese reverse mergers and the lowest number of mergers and acquisitions since the third quarter of 2009, according to a study.
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Royal Bank of Scotland Group Plc said it did nothing wrong when it fired a former Singapore trader because he sought to manipulate London interbank offered rates to boost his own profits.
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HSBC Holdings Plc, Europe’s biggest bank, said its Mexican unit paid a $27.5 million fine to the nation’s regulators for non-compliance with money-laundering systems and controls.
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The U.S. Securities and Exchange Commission announced formation of a new investor advisory committee. The committee, required by the Dodd-Frank Act, has 21 members and will, according to the statement, advise on regulations, trading and the effectiveness of disclosure, as well as other issues.
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The New York Red Bulls, the soccer team owned by Austrian billionaire Dietrich Mateschitz, must pay property taxes to Harrison, New Jersey, a tax-court judge ruled.
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