WILMINGTON, Del. (AP) — Tesla TSLA, -2.01% CEO Elon Musk took the witness stand Wednesday to defend himself in a shareholder lawsuit challenging a compensation package he was awarded by the company’s ...
Tag: Corporate Crime/Legal Action
Elon Musk Has the Next Tesla CEO in Mind. There Are a Few Candidates.
Tesla board member James Murdoch said Elon Musk knows who could run Tesla after him. It might have been a throwaway line said while being questioned in a trial. Still, it’s a chance for investors to ...
Sam Bankman-Fried, Tom Brady and Steph Curry named in lawsuit over FTX collapse
Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, has not had a good couple of weeks. The crypto maven known as SBF has seen his company go bankrupt and his net worth drop by billions of ...
Antitrust battle over Apple’s app store goes to appeals court
SAN FRANCISCO — Apple is heading into a courtroom faceoff against the company behind the popular Fortnite video game, reviving a high-stakes antitrust battle over whether the digital fortress shieldin...
FTX bankruptcy: Can account holders expect to get their money back?
FTX, the unraveling cryptocurrency exchange, has plummeted from its high-profile perch straight into bankruptcy court. On Friday morning, FTX and related entities including Alameda Research, its affil...
FTX bankruptcy is ‘somebody running a company that’s just dumb-as-f___ing greedy,’ says Mark Cuban
Billionaire Dallas Maverick’s owner Mark Cuban recently offered his perspective on the implosion of crypto platform FTX late this week. “‘That’s somebody running a company that’s just dumb-as-fucking ...
Elon Musk Made Unusual Request in Falling Out With Top Tesla Lieutenant
Last year, Elon Musk parted ways with one of his top deputies at Tesla Inc., a French auto-industry executive named Jerome Guillen. Mr. Guillen worked at Tesla for roughly a decade, rising to oversee ...
Here’s the trouble under the hood at Warren Buffett’s Berkshire Hathaway
It’s midterm day in America, so pack your weapon (where legally permitted), have your local election lawyer on speed dial and get out the popcorn. U-S-A, U-S-A. More on that later. The company lost $2...
Deutsche Bank Faces Threat of Fines Over Money-Laundering Controls
Germany’s top financial watchdog threatened to fine Deutsche Bank AG if it doesn’t implement controls against money laundering by a set deadline, suggesting the regulator isn’t satisfied with the bank...
State attorneys general sue to block Albertsons’ $4 billion dividend payout
The attorneys general of California, Illinois and the District of Columbia are suing Albertsons in an effort to stop the grocery chain from paying a nearly $4 billion dividend to its shareholders. The...
3M Earns Quick Appellate Review of Earplug Unit’s Bankruptcy Shield
A federal appeals court granted 3M Co. ’s request to review a bankruptcy judge’s refusal to stop mass injury lawsuits from proceeding against the conglomerate following the chapter 11 filing of its ea...
Opinion: Florida’s insurance rates have almost doubled over five years, yet insurance companies are still losing money — and the reason is more insidious than hurricanes
Hurricane risk might seem like the obvious problem, but there is a more insidious driver in this financial train wreck. Finance professor Shahid Hamid, who directs the Laboratory for Insurance at Flor...
Exxon Improperly Fired Scientists Suspected of Sharing Information, Labor Department Finds
Listen to article (2 minutes) The Labor Department said it found Exxon Mobil illegally fired two company scientists over suspicions they shared information with The Wall Street Journal about concerns ...
Nikola Founder Trevor Milton Hangs Legal Defense on Expert Testimony
Updated Oct. 4, 2022 3:02 pm ET Listen to article (2 minutes) Lawyers for Trevor Milton are anchoring the Nikola founder’s defense against securities-fraud charges on the testimony of a Harvard profes...
Trump files $475 million lawsuit against CNN, claiming defamation
NEW YORK — Former President Donald Trump on Monday sued CNN, seeking $475 million in damages, saying the network had defamed him in an effort to short-circuit any future political campaign. The lawsui...
Supreme Court won’t hear MyPillow CEO Mike Lindell’s defamation case
WASHINGTON (AP) — The Supreme Court says it won’t intervene in a lawsuit in which Dominion Voting Systems accused MyPillow chief executive Mike Lindell of defamation for falsely accusing the company o...
Chinese Tech Billionaire Richard Liu Settles Sexual-Assault Case in Minnesota
MINNEAPOLIS—A legal battle that Chinese feminists had seen as pivotal for the country’s embattled #MeToo movement ended abruptly just before a jury was set to hear the case in a Minnesota courtroom. R...
Nikola Tries to Ignite Market for Its Hydrogen Fuel-Cell Trucks
As Nikola founder stands trial on securities-fraud charges, a revamped management team is pushing to make the company the first to market hydrogen-powered commercial trucks in the U.S.—and to overcome...
Defamation lawsuit against Fox News, Lou Dobbs can proceed to trial
NEW YORK — A defamation lawsuit against Fox Corp. FOX, +1.58%, Fox News Network and Lou Dobbs can proceed toward trial, a judge ruled Monday after concluding that a Venezuelan businessman had made suf...
Ford Seeks New Trial After $1.7 Billion Jury Verdict in Truck Rollover Lawsuit
Listen to article (1 minute) Ford Motor is asking a Georgia court for a new trial, after a jury reached a $1.7 billion verdict against the auto maker last month involving a truck rollover accident tha...
Crypto Investors Got Burned by Celsius. Then They Battled Back.
Cryptocurrency lender Celsius Network LLC attracted scores of people over the last five years who wanted to make money betting on bitcoin. After a crypto crash pushed the company into bankruptcy this ...
New York Suit Against Trump Mixes Routine Business Law, Uncommon Allegations
The New York attorney general’s lawsuit against former President Donald Trump uses a common state business law to make allegations about property valuations, which lawyers say are rarely the focus of ...
Senators drill down on Zelle reimbursements, inflation and ‘uber-woke’ policies in bank CEO hearing
Democratic senators criticized banks for not serving consumers fairly while Republicans complained about liberal social agendas promoted by the same institutions, as chief executive officers of the co...
Nikola CEO Tells Jurors He Worried About Exaggerations by Company Founder Trevor Milton
Nikola CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton, “was prone to exaggeration in ...
Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks
Trevor Milton, the Nikola founder who enticed auto-industry leaders and investors with his promise for a revolution in electric trucks, faces a securities-fraud trial beginning this week on allegation...
Why do people invest in crypto? ‘It’s partly fraud and partly delusion’: Charlie Munger
““The country did not need a currency that’s good for kidnappers.”” — Charlie Munger Charlie Munger, vice chairman of Berkshire Hathaway BRK.A, +0.35%, is not a big fan of crypto, and he shared some f...