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Elon Musk, seen here Sept. 17, and his electric car company Tesla Inc. received approval Tuesday for their $20 million settlements with the U.S. Securities and Exchange Commission over Musk's allegedly misleading social media posts. (AP)

$20M SEC Settlements For Musk, Tesla Approved By Judge

A New York federal judge on Tuesday signed off on a pair of settlements that will see Tesla Inc. and its embattled CEO Elon Musk pay the U.S. Securities and Exchange Commission $20 million apiece to end claims that Musk misled investors in tweets about taking the Silicon Valley-based electric car maker private.

  • DC Investigations Lawyer To Be New White House Counsel

    President Donald Trump has selected Pat A. Cipollone to replace Don McGahn as White House counsel, the president told reporters Tuesday, bringing in a well-known Washington litigator as his new top lawyer as the special counsel investigation of Russian interference in the 2016 presidential election continues unabated.

  • K&L Gates Repped Both Tech Co. And Its Lenders, Suit Says

    K&L Gates LLP was hit with a lawsuit Tuesday in Texas state court by former client Quantum Materials Corp., which alleges the firm committed malpractice through its simultaneous representation of it and its lenders in a payment dispute.

  • Ex-KPMG Exec Admits Swiping Watchdog's Inspection Plans

    A public accountant admitted in New York federal court on Tuesday that she used her role at the nation's independent audit watchdog to tip KPMG LLP about plans to double-check its work, then continued to solicit inspection plans after taking an executive position at the Big Four audit firm.

  • Washington Pays $28M To Head Off Crash Survivor's Trial

    The state of Washington will pay $28 million to settle claims that its failure to bring a highway pillar up to legal standard was responsible for crash injuries that made a 15-year-old girl a quadriplegic.

  • Race-Blind Admissions Harm Students, Harvard Dean Testifies

    Harvard's longtime dean of admissions testified that a study by the university's own expert shows eliminating race from the student application process would result in more Asian-American students being admitted — but would lessen the quality of their education — as testimony continued Tuesday in the closely watched Boston bench trial.

  • Convicted State Street Exec Gets Lenient 18 Months

    A former State Street Corp. executive was sentenced to 18 months in federal prison Tuesday for stealing millions from clients by sneaking in undisclosed fees on massive transactions, a more lenient ruling than the five-year sentence prosecutors had requested.

  • Nomura Reaches $480M Deal Ending RMBS Probe

    Nomura Holding America Inc. and its affiliates have agreed to pay $480 million to resolve the U.S. Department of Justice’s allegations that the bank misled investors about risks associated with more than $13 billion worth of loans packaged into residential mortgage-backed securities between 2006 and 2007, the DOJ said Tuesday.

  • Audi Fined $925M In Germany Over Diesel Emissions

    German authorities on Tuesday hit Volkswagen’s luxury division, Audi AG, with a $925 million fine for selling cars rigged to pass emissions tests despite their emissions being higher than allowable standards.

  • Labaton State Street Atty Fee Accord Not Yet A Done Deal

    A proposed settlement between Labaton Sucharow LLP and the special master appointed to investigate alleged improprieties in a $75 million attorneys' fee award in the State Street Corp. swindling case was met with some resistance from the judge presiding over the case and fellow co-counsel during a hearing Monday in a Boston federal courthouse.

  • Fla. High Court Rejects Law That Mandated Daubert Standard

    The Florida Supreme Court ruled Monday that a 2013 law that mandated use of the Daubert standard for screening expert witness testimony infringed on the court's rulemaking authority, and reinstated an $8 million verdict for a mesothelioma patient based on its continued support for the current Frye standard.

  • Calif. Supreme Court Recuses Itself In Judicial Raises Case

    The entire California Supreme Court has recused itself from an appeal that involves whether the Golden State owes about $36 million worth of back wage and pension payments to a class of more than 3,000 current and former judges.

  • Trump Escapes Stormy Daniels' Defamation Suit

    A California federal judge on Monday dismissed adult film star Stormy Daniels' suit alleging President Donald Trump defamed her by tweeting that her claims about their alleged affair included a story about a "nonexistent man," ruling the tweet was “rhetorical hyperbole” protected by the First Amendment.





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