MBIA Inc. agreed to insure a $1.16 billion pool of mortgages without its employees reading a report the bond insurer now claims was altered to hide flaws in the loans, JPMorgan Chase & Co.’s lawyers told a judge.
Attorneys for four oil traders suing over alleged manipulation of crude prices copied much of their complaint and violated federal court rules in an attempt to control the litigation, a rival group of lawyers claimed.
MBIA Inc. didn’t even read a report the bond insurer says was altered to hide deficiencies in a $1.16 billion pool of mortgages until a week after it agreed to insure the loans, attorneys for JPMorgan Chase & Co. told a New York state judge.
Jefferson County, which filed the biggest U.S. municipal bankruptcy until Detroit, is selling $1.8 billion of sewer debt to help exit court protection. Standard & Poor’s rates the bonds above junk. Investors disagree.
Davis Polk & Wardwell LLP advised Shire Plc, which agreed to buy ViroPharma Inc. for about $4.2 billion to gain treatments for rare diseases and lessen dependence on its best-selling Vyvanse pill for attention deficit hyperactivity disorder. Skadden, Arps, Slate, Meagher & Flom LLP advised ViroPharma.
Greenhouse-gas emissions from power generators, oil refineries and other plants in California climbed in 2012 as a nuclear plant shutdown and low hydropower supplies increased the state’s reliance on natural gas.
Peter A. Levy, a founder of alternative investment funds who carried one of Wall Street’s most famous surnames as the son of Gustave Levy, a former senior partner of Goldman, Sachs & Co., has died. He was 77.