Author Archives: Bloomberg Media

Photographer: Krisztian Bocsi/Bloomberg

Litigation Said to Create Surprise Windfall For Deutsche Bank

Litigation Said to Create Surprise Windfall For Deutsche Bank

By Eyk Henning and Steven Arons, Bloomberg News Deutsche Bank AG’s legal issues haven’t all been one-way traffic. The German lender, which has posted two consecutive annual losses amid rising misconduct fines, booked a surprise windfall of more than 100 million euros ($117 million) in the first half related to an out-of-court settlement with a former

Photo by Peter Foley (Bloomberg)

SEC Drops Claims Against Ex-JPM Traders in London Whale Case

By Jef Feeley, Bloomberg News The U.S. Securities and Exchange Commission dropped claims against two former JPMorgan Chase & Co. traders accused of hiding more than $6.2 billion in trading losses as part of the “London Whale’’ case. Securities regulators agreed to dismiss their case against traders Javier Martin-Artajo and Julien Grout after federal prosecutors dropped criminal charges against

Heather Bresch, chief executive officer of Mylan NV, speaks during a House Oversight and Government Reform Committee hearing in Washington, D.C., U.S., on Wednesday, Sept. 21, 2016. Photographer: Andrew Harrer/Bloomberg

Mylan Wraps Up $465 Million U.S. Accord Over EpiPen Rebates 

By David McLaughlin and Jared S. Hopkins, Bloomberg News Mylan NV and the U.S. Justice Department finalized a $465 million settlement to resolve claims that the drugmaker defrauded taxpayers by misclassifying its allergy-shot EpiPen product as a generic drug. The settlement, announced by the Justice Department Thursday, resolves claims that Mylan was able to improperly

Pedestrians walk past the Uber Technologies Inc. headquarters building in San Francisco, California. Photographer: David Paul Morris/Bloomberg

Waymo Jury May Be Warned Uber Lawyers Didn’t ‘Come Clean’ 

By Joel Rosenblatt, Bloomberg News Uber Technologies Inc. may pay a price for withholding key evidence from Waymo when their trade secrets dispute goes to trial — the judge proposed letting the jury know the ride-hailing company’s lawyers didn’t “come clean.” “I’m inclined to let the jury know what happened here,” U.S. District Judge William

Robert Moritz, chairman of PricewaterhouseCoopers (PwC) International Ltd., speaks on the third day of Mobile World Congress (MWC) in Barcelona, Spain, on Wednesday, March 1, 2017. A theme this year at the industry's annual get-together, which runs through March 2, is the Internet of Things. Photographer: Chris Ratcliffe/Bloomberg

PwC Fined $6.6 Million in Largest-Ever Penalty From Watchdog 

By Suzi Ring, Bloomberg News PricewaterhouseCoopers LLP was fined 5.1 million pounds ($6.6 million) for misconduct over its audit of RSM Tenon Group Plc in the largest-ever sanction issued by the U.K. accounting regulator. The Financial Reporting Council announced the fine Wednesday, along with penalties against Nicholas Boden, a senior PwC audit partner. The misconduct

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An Embattled For-Profit Law School Is Reportedly Shutting Down

By Shahien Nasiripour, Bloomberg News The for-profit Charlotte School of Law is reportedly shutting down, according to television station WBTV News in Charlotte, North Carolina. The private equity-owned school failed to meet various government deadlines set months after the Obama administration shut off its ability to receive proceeds from federal student loans. The head of

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Big Pharma’s Tobacco Moment as Star Lawyers Push Opioid Suits

By Jef Feeley and Jared S. Hopkins, Bloomberg News Big Pharma is having a Big Tobacco moment as litigation over opioids attract star lawyers and a growing list of states and local governments seeking their own multibillion- dollar payout to deal with costs of a burgeoning drug epidemic. On Tuesday, South Carolina became the sixth

Vehicles travel along a section of the 3rd Ring Road in Beijing, China, in May 2017. Photographer: Qilai Shen/Bloomberg

Trump Calls for Review of China IP Practices as Trade Ties Sour

By Andrew Mayeda, Bloomberg News U.S. President Donald Trump asked his top trade official to consider investigating China over how it handles intellectual property, adding to the list of trade irritants between the world’s two biggest economies as they work to contain North Korea. Trump signed an executive memorandum on Monday directing U.S. Trade Representative

Robert S. Mueller, Director of the FBI testifies before the Senate Judiciary Committee Committee in Washington, DC, June 6, 2002. Photographer:  Dennis Brack/ Bloomberg News.

As Mueller Assembles an All-Star Legal Team, Trump Improvises

By Tom Schoenberg, Bloomberg Businessweek When news broke on Aug. 3 that Special Counsel Robert Mueller had begun using a grand jury in Washington to gather evidence related to his Russia probe, it appeared to catch the White House off guard. Although many news outlets were reporting the story, Ty Cobb, just four days on

Photo by GUILLERMO LEGARIA/AFP/Getty Images

Transgender Service Members Sue Trump Over Their Looming Ban

By Andrew Harris, Bloomberg News Five members of the U.S. armed forces sued President Donald Trump and top military brass, seeking to stop them from banning transgender people from serving “in any capacity.” With the latest lawsuit, which seeks to prevent the president from reversing a policy put in place by the Obama administration, a

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