Ruling calls ice cream maker's claims of imminent harm to its brand 'too speculative,' in a setback for the Vermont company, as it seeks to pull products from West Bank
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Manhattan U.S. District Judge Andrew L. Carter Jr. on Thursday told Archegos founder Sung Kook "Bill" Hwang that he cannot preside over charges that Hwang engaged in a major fraud on Wall Street, disclosing that he holds shares of purported victim bank JPMorgan Chase.
<p><span>An indictment was unsealed today charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos, and Patrick Halligan, Archegos’s Chief Financial Officer, with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud many leading global investment banks and brokerages. Deputy Attorney General Lisa O. Monaco, U.S. Attorney Damian Williams for the Southern District of New York and Assistant Director-in-Charge Michael J. Driscoll of the FBI s New York Field Office made the announcement. Both defendants were arrested earlier today and will be presented this afternoon before U.S. Magistrate Judge Jennifer E. Willis. The case has been assigned to U.S. District Judge Andrew L. Carter, Jr.</span></p>
A federal court found the claims were not time-barred, the investment manager was responsible for its own fiduciary duties and an individual committee member can’t escape claims of breaches by omission.
The lawsuit, filed by the nonprofit Advocates for Children, claimed that tens of thousands of students with disabilities missed crucial services and instruction after the city’s school buildings shut down.
A New York federal judge refused to let investment manager Ruane Cunniff & Goldfarb Inc. and information processor DST Systems Inc. out of a federal benefits lawsuit, ruling the companies must face the U.S. Department of Labor's claims that they mishandled employees' retirement savings.
Four minor league teams ousted by Major League Baseball urged a Manhattan federal judge on Wednesday to put the case on track for an appeal challenging the sport's century-old antitrust exemption, saying the MLB's initial response shows it's "terrified of the possibility of Supreme Court review."