Securities
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A plan expected to save Puerto Rico nearly $18 billion by restructuring debt carried by the Puerto Rico Sales Tax Financing Corp., or COFINA, got the go-ahead on Monday from the judge overseeing the U.S. territory’s bankruptcy-like proceedings… Read this piece in its entirety at Law360.
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Fannie Mae isn’t a “consumer reporting agency” as defined by the Fair Credit Reporting Act, meaning it can’t be held liable under the statute for inaccurate information generated by a computer program it licenses to mortgage lenders, a divided Ninth Circuit panel ruled Wednesday… Read this piece in its entirety at Law360.
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A Red Hat Inc. investor on Tuesday voluntarily dismissed a proposed class action in Delaware federal court that aimed to block a shareholder vote on the software company’s planned $34 billion sale to IBM… Read this piece in its entirety at Law360.
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A former Goldman Sachs banker pled guilty to insider trading in New York federal court Wednesday, admitting he had used his position with the Wall Street behemoth to access non-public information that helped him make more than $130,000 from illegal securities trades… Read this piece in its entirety at Law360.
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A Campbell Soup Co. shareholder has hit the food company with a proposed class action in New Jersey federal court, alleging executives misled investors about the financial prospects of the fresh products division, causing stock prices to slide as the unit suffered tens of millions of dollars in losses… Read this piece in its entirety…
Mike LaSusa 