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VCG Special Opportunities Master Fund would probably prefer just to forget about two suits it filed against Citigroup and Wachovia claiming the banks breached credit default swap contracts. The hedge fund lost both cases, and now it has to pay Wachovia's legal fees.
Judge dismisses challenge to LEED certification
The lawsuit was brought by environmental engineering and design professionals accusing the non-profit U.S. Green Building Council, of interfering with their business.Back in 2004 a San Francisco state court judge and jury found that the bank violated California consumer laws when it appropriated depositors' Social Security funds to cover overdrafts and fees. Stepping in for the appeal, O'Melveny got the verdict overturned and on Monday saw that result upheld by the state's highest court.
Softbank said to be in talks to buy control of Sprint Nextel
Softbank Corp., Japan's third- largest mobile-phone company, is seeking two-thirds of Sprint, for more than $19 billion. The Japanese company could shift the balance of power in the U.S. telecommunications industry at a tumultuous time.A plan for local governments to seize underwater home loans—the target of a major new lawsuit this week—is in large part the work of a Cornell Law School professor and a former Sullivan & Cromwell associate who became friends at Oxford.
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