Wynn Resorts Ltd.’s lawsuit with former director Kazuo Okada was halted while U.S. authorities pursue a criminal investigation into possible bribery of Philippine officials by the Japanese billionaire.
An independent review commissioned by Kazuo Okada’s lawyers found that Wynn Resorts Ltd.’s investigation that cost the Japanese billionaire his 20 percent stake in the casino operator was “deeply flawed.”
Ropes & Gray LLP added four new corporate partners. Bracewell & Giuliani LLP lawyers Jonathan Gill and Robb Tretter join the firm in New York as partners in the private-equity practice, focusing on distressed investing. Mark Wesseldine, previously of Fried Frank, Harris, Shriver & Jacobson LLP will be joining the firm as a finance partner in London. Victoria Lloyd, a capital markets and mergers and acquisitions lawyer also from Fried Frank, is joining Ropes & Gray in its Hong Kong office.
Former MF Global Inc. broker Evan Brent Dooley was sentenced to five years in prison for making unlawful unauthorized trades that caused the now-defunct futures firm to lose more than $141 million in 2008.
European Union banks will be forced to boost capital, disclose more information on their activities than ever before, and face tougher scrutiny of how they measure risks, after lawmakers formally endorsed a law to overhaul the bloc’s financial rulebook.
Former MF Global Holdings Ltd. Chairman and Chief Executive Officer Jon S. Corzine helped accelerate the futures brokerage’s demise with risky business strategies and mismanagement, according to a report by bankruptcy trustee Louis Freeh.
Richard Strassberg, the Goodwin Procter LLP lawyer who represented Martha Stewart’s broker Peter Bacanovic in his 2004 criminal trial, will head a legal team defending former SAC Capital Advisors LP portfolio manager Mathew Martoma against insider-trading charges.
Pennsylvania State University longtime football head coach Joe Paterno, fired President Graham Spanier and other officials failed to protect children from sexual abuse by former coach Jerry Sandusky, according to a report by investigator Louis Freeh.