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Banks say MBIA didn't tell NY its true condition before split

5/16/2012

MBIA Inc hid its financial condition from the New York state insurance department in 2009 when it sought approval to restructure the company, according to Bank of America Corp and two other banks challenging that restructuring.

Gavel, NY State Supreme Court, 60 Centre St. REUTERS Chip East

State appeals court rejects lawyer's discrimination suit against Skadden

5/16/2012

The First Department found that a State Supreme Court justice did not abuse his discretion in finding that the firm had offered legitimate reasons for Rita Gordon's termination.

An exterior view of the federal courthouse at 500 Pearl Street is seen in New York. REUTERS Chip East

NY attorney, ex-cop, accused in $4.7 mln real-estate swindle

5/16/2012

Edward Adams and James Monahan are accused of illegally draining money out of an escrow account set up to build a 1,200 unit condominium building in the Dominican Republic.

Rajat Gupta, in a courtroom sketch. REUTERS Handout

Judge inclined to allow 3 key calls at Gupta trial

5/16/2012

Jed Rakoff tentatively approved the admission of recordings between Gupta and convicted hedge funder Raj Rajaratnam, so long as prosecutors show they further allegations of a conspiracy.

Skechers settles U.S. charges over toning-shoe ads

5/16/2012

The Federal Trade Commission said the shoe maker was deceptive in the marketing of its Shape-ups, Resistance Runner, Toners and Tone-ups shoes.

Judgment

Facebook IPO prospectus, May 8, 2012. REUTERS Jessica Rinaldi

Facebook lawyers to make $2.6 mln in IPO

5/16/2012

The social media giant has tapped Fenwick & West as the lead law firm for its IPO. The Northern California firm has a longstanding practice representing Silicon Valley darlings.

Additional coverage: Facebook

Ruling in e-books class action is blow to defense in DOJ antitrust suit

5/16/2012

Apple, Penguin, and Macmillan -- the remaining defendants in the Justice Department’s suit alleging an illegal antitrust conspiracy in the e-books market -- have to be mighty discouraged by U.S. District Judge Denise Cote’s ruling Tuesday in the parallel class action. Cote, who is also overseeing the DOJ case, makes short work of all the defenses Apple and the publishers might raise.

E-books antitrust MTD opinion