In a major blow to the SEC, in-house judge Carol Fox Foelak dismissed the agency’s fraud claims against financier Lynn Tilton concerning statements to investors in her Zohar CLO funds. For years, Tilton had worked to avoid a decision at all by arguing that the SEC’s in-house courts were unconstitutional –
WSJ and
Bloomberg and
Law360
A broad overview of the US economy almost a decade after the Great Recession reveals growth at last spreading to all levels of worker (but inequality growing faster than ever) – NYTimes
It’s time for Breakingviews to weigh in on the SEC’s cyberhack situation, and it does so by considering the warning the episode should serve for other regulators – NYTimes
The SEC is exploring the departure of PepsiCo’s former GC after she accused the company of terminating her as retaliation for her handling of an internal probe over a Russian subsidiary PepsiCo acquired in 2011 – WSJ and Law360
Toshiba has officially unloaded its microchip business for a cool $18 billion to a group of investors that includes Bain Capital and Apple – NYTimes and WSJ
A Texas jury has hit JPMorgan with an astonishing $4 billion in punitive damages over its mishandling of the estate of a former American Airlines executive. No final judgment has entered (and isn’t likely on a number that size) – Bloomberg
Months after European antitrust regulators hit Google with a record $2.8 billion fine, the folks at big G have announced a series of concessions over its online shopping platform – NYTimes
US financial regulators unveiled their proposal for changes to bank capital rules for small and regional lenders intended to respond to industry concerns and reduce the complexity of certain capital requirements – WSJ
Moon Base Alpha? Yes, a lunar orbiting space station is in the works, and that’s not even the craziest part of this story (which is that the US and Russia are building it together) – The Guardian
