Citigroup Inc. and the U.S. Securities and Exchange Commission defended their $285 million settlement of claims that the bank misled investors in collateralized debt obligations as a judge questioned whether the deal is in the public interest.
Maan al-Sanea, founder of Saudi Arabia’s Saad Group, must pay damages to competitor Ahmad Hamad Algosaibi & Brothers Co. for conspiracy and breach of fiduciary duty, a judge ruled in the Cayman Islands.
Societe Generale SA, France’s second- biggest bank, won a U.K. lawsuit forcing a unit of Saudi Arabia’s Saad Group to repay a loan of almost $50 million guaranteed by its billionaire founder Maan al-Sanea.
Rupert Murdoch and his son James told U.K. lawmakers that resolution of a phone-hacking scandal at News Corp.’s British unit was delayed because they relied on a clean bill of health from the law firm Harbottle & Lewis LLP.
Berkeley Group Holdings Plc shareholders should reject the real-estate developer’s executive-compensation plan at the company’s Sept. 5 annual meeting, said Pensions Investment Research Consultants Ltd., an investment adviser.
Societe Generale SA, France’s second-biggest bank, told a U.K. trial judge that a unit of Saudi Arabia’s Saad Group failed to repay a $50 million loan guaranteed by its billionaire founder Maan al-Sanea.