Tribune’s not only given a hard “no” to Gannett, but it’s got some new firepower (and capital) on its side thanks to a $70.5 million investment by Nant Capital—a group “founded by Patrick Soon-Shiong, a billionaire who has started several health care companies and is a part owner of the Los Angeles Lakers” – NYTimes and WSJ and Bloomberg
A Second Circuit panel has dealt a strong blow to the DOJ and its crisis-era litigation [and Judge Jed Rakoff, too], overturning a $1.27 billion penalty against Bank of America related to Countrywide’s “hustle” program and the alleged defrauding of Fannie and Freddie – NYTimes and WSJ and Bloomberg and Law360
And lest we think that the 2d Circuit only taketh away [from plaintiffs, at least], a decision also came down yesterday reinstating the private antitrust lawsuit against 16 banks for alleged Libor interest rate rigging. Among the banks now back on the potential hook: Bank of America, Barclays, Credit Suisse, Barclays, and JPMorgan Chase, to name a few – WSJ and Bloomberg and Law360
Skittish investors have found a new weapon in their search for the actual valuation of new start-ups thanks to a little-known provision (section 220) of Delaware’s corporate law code that can “compel locally incorporated companies . . . to open up their books to shareholders” – WSJ
The Dealbook’s White Collar Watch weighs in on the DOJ’s insider trading case against renowned sports bettor Billy Walters and the tough road ahead for the government to get its man – NYTimes
Philadelphia has file a putative class action in Illinois federal court accusing 14 global banking institutions of “colluding to prevent interest rate swaps from being bought and sold on an exchange”—yet another in a growing case of rate-swap antitrust suits in recent weeks – Law360
Though it’s managed to so far escape the media scrutiny that its German and Japanese counterparts have for their fuel economy and emissions overstatements and manipulation, GM noted last Friday that it will offer cash payments or extended warranties to more than 135k owners of large SUVs whose window stickers overstated likely gas mileage – NYTimes
Details of the recent Swift global money-transfer network hacks has prompted close attention from Congress to the response (or lack thereof) of US financial regulators – WSJ
The Times on the power of architecture not just to build but to rebuild – NYTimes
Yet another tech advancement that walks (okay, flies) the line between amazing and a little terrifying. Here’s the robo-bee – NYTimes
