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
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...
Fake billionaire Justin Costello co-defendant settles SEC complaint
Zoom In IconArrows pointing outwards FBI Poster for Justin Costello FBI The Securities and Exchange Commission has agreed to settle a civil lawsuit against a man accused of five separate penny stock p...
Nikola NKLA founder Trevor Milton found guilty of fraud
Trevor Milton CEO of Nikola Massimo Pinca | Reuters Trevor Milton, the founder and former chairman and CEO of electric heavy truck maker Nikola, was found guilty in federal court Friday of three of fo...
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...
FBI found gold, cash on fake billionaire fugitive Justin Costello
Prosecutors on Tuesday asked a California federal judge to jail without bail a recent fugitive accused of a brazen $35 million fraud that involved him falsely telling investors he was a billionaire, a...
$100 million NJ deli case: Defendants plead not guilty
Your Hometown Deli in Paulsboro, N.J. Google Earth CAMDEN, N.J. – Two men charged in an alleged stock-manipulation scheme involving a small-town New Jersey deli pleaded not guilty Tuesday morning. Pet...
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...
Shaquille O’Neal shares investing tip Jeff Bezos gave him
Shaquille O’Neal attends the second preseason NBA game between Atlanta Hawks and Milwaukee Bucks at Etihad Arena on October 8, 2022 in Abu Dhabi, United Arab Emirates. “If you invest in th...
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...
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...