Judge Approves Acceleration Request of Lawsuit Against Apple

A lawsuit filed last week by hedge fund manager David Einhorn’s Greenlight Capital has been fast-tracked at the request of Apple, according to CNET. The reason for the fast-tracking is so the company can share its cash reserves with investors.

U.S. District Judge Richard J. Sullivan for th...

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Bondholders Receive Longer Oral Argument Time in Argentina Case

In an order issued Monday, the 2nd U.S. Circuit Court of Appeals announced that it had set aside added time for oral arguments on February 27 in the case involving Argentina paying $1.33 billion to bondholders who were not part of debt restructurings. The time allotted is just 49 minutes, an increase...

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Apple Blasts Greenlight Capital in Court

On Wednesday, Apple moved to get back at Greenlight Capital and its owner David Einhorn after, last week, Greenlight Capital sued Apple in the U.S. District Court in Manhattan in an attempt to block a shareholder’s vote scheduled on Fe. 27.

In its filing, Apple revealed explosive details of a meeti...

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American and US Airways Announce Merger

American Airlines has agreed to merge with US Airways, which will create the largest airline in the country, according to The New York Times. The deal was unanimously approved by the boards of both companies and it worth $11 billion. Shareholders of US Airways will own 28 percent of the combined air...

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Transocean Enters Guilty Plea, Fined $4 Million for Gulf Oil Spill

The second-largest environmental fine in the history of the United States has been levied on Transocean Deepwater Inc. for its role in the 2010 Deepwater Horizon explosion that occurred in the Gulf of Mexico, according to the Justice Department.

After the company pled guilty in a Louisiana f...

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Lender Processing Services Inc Settling Probe for $35 Million

On Friday, the U.S. Department of Justice announced that LPS Inc, the mortgage servicing company, has agreed to resolve a federal criminal probe over foreclosure fraud for a sum of $35 million.

The allegations against the Florida-based company had included involvement in a six-year scheme to prepare ...

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Greenlight Capital Explains Its Stand against Apple

On Friday, Greenlight Capital owner David Einhorn responded to Apple’s filing made on Wednesday, and reiterated his stand that the court should block Apple Inc.’s “Proposal 2” that plans to remove the company’s powers of issuing preferred shares, following Einhorn’s demands that the said powers b...

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Bernie Madoff Frustrated with Irving Picard

Bernie Madoff wrote a series of emails to CNBC reporter Scott Cohn. In them he expresses his frustration while sitting in federal prison for the rest of his life. In his emails, he says that he is not being credited with the role he played in returning some money to the victims of his fraud. He is s...

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Chrysler Announces Recalls of Trucks and SUVs

Chrysler has announced a recall that includes models from its full-size and midsize pickups and multiple SUV models. The recall is centered around a rear axle component that could cause the vehicle to lose control.

The recall involves 278,222 Ram 1500 pickup trucks between the model years of...

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Twitter Account of Burger King Hacked

The Twitter account of Burger King was hacked on Monday and the hackers have not been identified, according to CNN. When the page was hacked, it appeared as if Burger King was bought by McDonald’s.

“We just got sold to McDonalds! Look for McDonalds in a hood near you,” the company twee...

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Supreme Court Rules Against Hospital Merger in Georgia

On Tuesday, the Supreme Court ruled that lower courts improperly dismissed complaints filed in regards to a merger of the only two hospitals in a Georgia city, according to The Associated Press. The ruling was unanimous. The merger was aided by a public hospital authority and it started a monopoly o...

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Clive Palmer Misses Gala for Titanic II

On Saturday, a gala was held for people interested in meeting the Australian man who is planning to rebuild the Titanic. The gala was held in Macau and the host, Clive Palmer, was not in attendance. Palmer is the man behind the construction of the Titanic II. The guests were served the 11-course mea...

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Temporary Stay Filed in Antitrust Suit Against Anheuser-Busch

On Wednesday, Anheuser-Busch InBev and the Justice Department announced that the two parties were discussing plans to resolve antitrust concerns regarding the planned deal of the beer maker with Grupo Modelo, according to The New York Times.

A temporary stay of an antitrust suit filed by the...

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