Massive Buy Back: Wells Fargo to Pay $1.4B in Auction-Rate Settlement

The Recorder

Wells Fargo will buy back about $700 million in troubled auction-rate securities from California investors under a settlement announced by the state's AG on Wednesday. In a separate deal, the bank will repurchase nonliquid auction-rate securities totaling some $700 million from non-California residents.

Firm Vice Chairman Uses Twitter to Strike Back at NYT Reporter for Story on Client

The National Law Journal

Cassidy & Associates vice chairman Gregg Hartley didn't like a critical New York Times story this week on one of the firm's biggest clients, Equatorial Guinea. So he's hitting back against the reporter using an unusual vehicle: his personal Twitter feed.

$281 Million Rides on Judges' View of Turner Broadcasting Deal

Fulton County Daily Report

A Georgia appeals court considered on Tuesday whether a sports deal worth hundreds of millions of dollars could have been sealed without the parties signing on the dotted line. At issue is Turner Broadcasting System's sale of the Atlanta Hawks and the Atlanta Thrashers.

The Google-Books Settlement: A Lawsuit Ripe for ... Congress?

The Recorder

Google Inc. revised its controversial books settlement late Friday night and revived the debate over who should decide the fate of orphan works: Google or the government.

We're Bankrupt, and Nearly Everyone Is Off the Hook—Not So Fast ...

The National Law Journal

U.S. trustee in LandAmerica Financial Group Inc.'s Chapter 11 bankruptcy proceeding objects to the company's reorganization plan because it releases nearly everyone involved, including lawyers, from liability for negligent actions.

Dems, Republicans Trade Shots Over Bank of America, Merrill Deal

The Associated Press

Senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but Republicans charge that a committee inquiry was covering up the role of an Obama administration official.

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From The Web

Goldman Holders Miffed at Bonuses

The Wall Street Journal

Cadbury's Carr Rehearsed Kraft Resistance by Thwarting Goldman in Pub Bid

Bloomberg

Car Czar Says GM IPO Could Happen in 2010

The Deal

Microsoft Lawyer Skids and Squeals Tesla for Xbox Sound Team

seattletimes.com

Justice Dept. Recovers $2.4B in False Claims Cases in '09; More Than $24B Since '86

justice.gov

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Bank of America Execs Grilled on Firing of GC During Crucial Deal

Corporate Counsel

Three bank officials insist before a House panel that the firing of its general counsel in the middle of a giant merger was just ordinary corporate 'downsizing.' The panel's chairman, however, says 'it sounds like someone didn't like his legal advice.'

A U-Turn to Avoid Regulatory Roadblocks

The Legal Intelligencer

Just as signs of life are emerging from the deal market with credit thawing and companies peeking out from their protective shells, word came that a deal was thwarted over additional requests from the FTC, raising questions about whether an increased regulatory climate could stall the comeback of corporate unions.

Total Disclosure: Fired Ex-Bank of America GC Tells His Story

Corporate Counsel

After months of silence on the bank's controversial merger with Merrill Lynch, former general counsel Tim Mayopoulos tells Congress what legal advice the bank received—and says he still has no idea why he was fired.

All Set for Debt: Prepackaged Bankruptcies Tripled in 2009

The National Law Journal

A research group says filings of prepackaged bankruptcies—deals that companies and creditors hammer out before heading to bankruptcy court—have tripled so far this year.