ReportWire

Tag: Crime/Legal Action

  • Trump is backed further into a financial corner after losing control of his company

    Trump is backed further into a financial corner after losing control of his company

    [ad_1]

    With Donald Trump’s legal liabilities growing and a presidential campaign to run, losing control of his company couldn’t have come at a worse time.

    After a New York judge ordered the Trump Organization to pay $364 million in penalties and barred the former president from any role in running a business in New York state for three years, Trump now finds himself backed further into a financial corner with fewer options for how to maneuver.

    “It will have such an enormous impact on the operation of his business,” said Randy Zelin, a professor of law at Cornell University and a veteran criminal defense attorney with experience in complex financial matters. “But it will also provide a strong basis for an appeal.”  

    New York Attorney General Letitia James had asked New York State Supreme Court Justice Arthur Engoron to levy a $370 million financial penalty against the Trump Organization and also to ban Trump and his children Ivanka, Donald Jr. and Eric Trump from running any company in the state of New York, where his real-estate empire has long been based.

    Engoron’s ruling barred Donald Trump Jr. and Eric Trump from being involved in running any business in the state for two years. The judge also ordered that former U.S. District Court Judge Barbara Jones, who has been serving as an independent monitor of the Trump Organization since 2022, continue in that role with expanded powers for the next three years. The ruling also ordered that an independent compliance officer be appointed within 30 days.

    “The Trump Organization shall be required to obtain prior approval — not, as things are now, subsequent review — from Judge Jones before submitting any financial disclosure to a third party, so that such disclosure may be reviewed beforehand for material misrepresentations,” the ruling read. 

    The outcome of the civil trial sat solely in Engoron’s hands, and in September, he issued a summary judgment essentially ruling in favor of James’s arguments that the Trump Organization had engaged in fraud for years by repeatedly misstating the value of assets to lenders and insurance companies. 

    The judgment is the latest in a string of legal and financial blows that the former president has faced and that have already had an impact on his presidential campaign.

    Trump has incurred $76 million in legal costs over the past two years stemming from the wide array of criminal and civil prosecutions he faces. More than $27 million of the money raised in the last six months of 2023 to support his presidential campaign has instead been used to cover his legal costs, according to campaign-finance filings.

    A report by Bloomberg earlier this week suggested that Trump may face a cash crunch caused by his ballooning legal costs as early as this summer, just as the presidential race will be heating up.

    Last month, a federal jury ordered Trump to pay $83.3 million in damages for defaming the writer E. Jean Carroll, whom he had attacked online after she had accused him of raping her in a department-store dressing room in the 1990s. He had earlier been hit with a $5 million verdict in a state case on similar charges.

    Trump has vowed to appeal the verdicts and denied raping Carroll, but in order to appeal, he will be required to put up bonds for the full award amounts. That means he would need to either get a bank to back him or to pledge collateral — like a real estate asset — to secure the bond.

    But without full control of his real-estate empire, Trump will likely find it harder to line up financing or use his assets as freely as before. 

    Under the terms of Engoron’s ruling, Trump will no longer be able to make any moves involving assets held by the Trump Organization without the approval of the court-appointed monitor.

    Even pledging his assets as collateral for the bond that he would be required to post in order to file an appeal would be complicated by the imposition of a monitor. 

     “When you lose control of your company, you lose control of who is going to be paid and how much they will be paid. All the money will, first and foremost, be used to operate the business, and how much goes to Trump and his children becomes a secondary concern,” Zelin said.

    Add to that the mounting legal costs for multiple criminal cases being brought against him — on charges related to Jan. 6 as well as charges of mishandling classified documents, election fraud, racketeering and illegally paying hush money to women who claimed they’d had affairs with him — and Trump finds himself in a worsening financial bind.

    So far, the former president has managed to cover many of his legal costs through donations from his political supporters, but that means that money won’t be available to fund his campaign for president. At the end of the year, President Joe Biden’s re-election campaign had about $46 million cash on hand, while Trump’s campaign had $33 million, Federal Election Commission filings show. Some $50 million held by Trump’s political action committees has already been used to cover his legal bills. 

    Regarding the properties held by the Trump Organization, while Trump has been able to refinance many of the loans underlying his bigger real-estate holdings, pushing their maturity dates back several years, he still has a stake in some high-profile buildings that have debt coming due in the next few years.

    With the court-appointed monitor part of the equation, it might now be more difficult for Trump to secure new debt in order to refinance those buildings, and that could even technically trigger defaults, depending on how the loan covenants were written.

    [ad_2]

    Source link

  • Tesla settles California hazardous-waste lawsuit for $1.5 million

    Tesla settles California hazardous-waste lawsuit for $1.5 million

    [ad_1]

    Tesla Inc. will pay $1.5 million to settle a lawsuit filed earlier this week by 25 California counties accusing the electric-vehicle maker of mishandling hazardous waste.

    San Francisco District Attorney Brooke Jenkins announced the settlement late Thursday.

    “While electric vehicles may benefit the environment, the manufacturing and servicing of these vehicles still generates many harmful waste streams,” Jenkins said in a statement. “Today’s settlement against Tesla, Inc. serves to provide a cleaner environment for citizens throughout the state by preventing the contamination of our precious natural resources when hazardous waste is mismanaged and unlawfully disposed.”

    The lawsuit, filed Tuesday, accused Tesla
    TSLA,
    +0.84%

    of improperly handling, transporting and disposing hazardous materials including oil, lead acid batteries, antifreeze and diesel fuel at as many as 101 sites across the state.

    As part of the settlement, Tesla was ordered to pay $1.3 million in civil penalties, and $200,000 to reimburse the cost of the investigation, which began in 2018. Tesla also must comply with an injunction for five years to properly dispose of its hazardous materials.

    Last month, Tesla reported earnings of $7.9 billion in the fourth quarter.

    Tesla, which dissolved its media relations team in 2020, did not respond to a request for comment.

    Tesla shares are down about 24% year to date, compared to a 3% gain by the S&P 500
    SPX.

    [ad_2]

    Source link

  • Judge dismisses Disney’s free-speech lawsuit against DeSantis

    Judge dismisses Disney’s free-speech lawsuit against DeSantis

    [ad_1]

    Walt Disney Co.’s lawsuit against Florida’s Republican Gov. Ron DeSantis and others, alleging they retaliated against the company for publicly criticizing a controversial parents-rights education law backed by DeSantis, was dismissed by a federal judge on Wednesday.

    Shares of Disney
    DIS,
    -0.92%

    fell about 1% Monday.

    Judge Allen Winsor ruled Disney lacked legal standing to sue DeSantis. He added that Disney’s charges “fail on the merits” against members of the Florida board of a special improvement district in which the company operates its parks and resort.

    In his ruling, Winsor said Disney “has not alleged any specific actions the new board took (or will take) because of the governor’s alleged control.” He added the company “has not alleged any specific injury from any board action.”

    “Its alleged injury … is its operating under a board it cannot control. That injury would exist whether or not the governor controlled the board,” he wrote.

    Disney strongly suggested it will appeal Winsor’s ruling.

    “This is an important case with serious implications for the rule of law, and it will not end here,” the company said in a statement. “If left unchallenged, this would set a dangerous precedent and give license to states to weaponize their official powers to punish the expression of political viewpoints they disagree with. We are determined to press forward with our case.”

    The controversial legislation, dubbed “Don’t Say Gay” by critics, was passed in 2022. 

    [ad_2]

    Source link

  • Oil prices jump after drone attack kills U.S. troops, escalating Mideast crisis

    Oil prices jump after drone attack kills U.S. troops, escalating Mideast crisis

    [ad_1]

    Oil futures popped higher Sunday evening, after a drone attack that killed three U.S. service members in northern Jordan, blamed by the White House on Iran-backed militants, marked a major escalation of tensions in the Middle East.

    West Texas Intermediate crude for March delivery
    CL00,
    +1.22%

    CL.1,
    +1.22%

    CLH24,
    +1.22%

    was up $1.09, or 1.4%, at $79.10 a barrel on the New York Mercantile Exchange. March Brent crude
    BRN00,
    +1.15%

    BRNH24,
    +1.14%
    ,
    the global benchmark, gained $1.11, or 1.3%, to trade at $84.66 a barrel on ICE Futures Europe.

    Much will ultimately depend on the U.S. response and whether Iran takes action aimed at shutting down the Strait of Hormuz, Tariq Zahir, managing member at Tyche Capital Advisors, told MarketWatch on Sunday afternoon.

    “We are on the cusp of this escalating, which could seriously impact the flow of crude oil,” he said.

    Three U.S. service members were killed and more than two dozen injured in a drone strike on a U.S. base in northeast Jordan, according to U.S. Central Command. They were the first U.S. fatalities in months of attacks on U.S. bases by Iran-backed militias since the start of the Israel-Hamas war in October.

    President Joe Biden attributed the Sunday attack to an Iran-backed militia group and said the U.S. “will hold all those responsible to account at a time and in a manner (of) our choosing.” News reports said U.S. officials were still working to conclusively identify the precise group responsible for the attack, but have assessed that one of several Iranian-backed groups is to blame.

    Some congressional Republicans called for direct retaliation on Iran.

    “We must respond to these repeated attacks by Iran & its proxies by striking directly against Iranian targets & its leadership. The Biden administration’s responses thus far have only invited more attacks. It is time to act swiftly and decisively for the whole world to see,” wrote Sen. Roger Wicker of Mississippi, the senior Republican on the Senate Armed Services Committee, in a post on X.

    Oil futures rallied last week to their highest since November, but with gains attributed in part to production outages in the U.S. and more upbeat expectations around economic growth.

    “Crude already has the wind to its back, so this will only offer further upside,” Chris Weston, head of research at Australian brokerage Pepperstone told MarketWatch in an email.

    With the U.S. election later this year, “Biden needs to strike a balance between increasing aggression that potentially puts U.S. serviceman lives in danger and could potentially raise the cost of living…while also showing a defiant stance that shows his resolve against terror,” Weston said.

    Oil prices have seen short-lived rallies around developments in the Middle East since the start of the Israel-Hamas war, but have failed to build in a lasting geopolitical risk premium. West Texas Intermediate crude
    CL00,
    +1.22%

    CL.1,
    +1.22%
    ,
    the U.S. benchmark, remains around $15 below its 2023 peak in the mid-$90s set in late September. Brent crude
    BRN00,
    +1.15%
    ,
    the global benchmark, pushed back above $80 a barrel last week.

    Attacks by Iran-backed Houthi militants on Red Sea shipping have forced a rerouting of tankers and cargo ships. For crude, that’s had implications for the physical market but hasn’t interrupted the flow of crude from the Middle East.

    A move by Iran aimed at closing off the Strait of Hormuz, the world’s biggest oil-transportation chokepoint, remains a top worry.

    The strait is a narrow waterway that links the Persian Gulf with the Gulf of Oman and the Arabian Sea. At its narrowest point, the waterway is only 21 miles wide, and the width of the shipping lane in either direction is just two miles, separated by a two-mile buffer zone.


    Energy Information Administration

    Around 21 million barrels a day of crude moved through the waterway in the first half of 2023, equivalent to around a fifth of daily global consumption, according to the U.S. Energy Information Administration.

    The U.S. stock market has largely looked past Middle East tensions, with the S&P 500
    SPX
    returning to record territory this month, while the Dow Jones Industrial Average
    DJIA
    has also set a series of records.

    Dow futures
    YM00,
    -0.20%

    were off 94 points, or 0.3% as Asian trading got under way, while S&P 500 futures
    ES00,
    -0.22%

    fell 12 points, or 0.2%, and Nasdaq-100 futures
    NQ00,
    -0.24%

    lost 0.3%.

    Read: Stock-market rally faces Fed, tech earnings and jobs data in make-or-break week

    Away from oil, there were no signs of a significant surge in demand for instruments that traditionally serve as havens during periods of increased geopolitical tension. Futures on U.S. Treasurys
    TY00,
    +0.21%

    saw a modest rise of 0.2%, while the U.S. dollar
    DXY
    was little changed versus major rivals and gold futures
    GC00,
    +0.41%

    ticked up 0.4%.

    Escalating Middle East tensions won’t go unnoticed by traders, but probably doesn’t warrant a “solid derisking,” Weston said, particularly with investors facing a barrage of major market events in the week ahead.

    For U.S.-focused investors, the week ahead features a Federal Reserve policy meeting, earnings from tech industry heavyweights and a crucial December jobs report.

    The Middle East situation “won’t take us too far off the rates, growth track, but we have an eye on whether this escalates,” Weston said.

    —Associated Press contributed.



    [ad_2]

    Source link

  • Jury says Trump must pay additional $83M to E. Jean Carroll in defamation case

    Jury says Trump must pay additional $83M to E. Jean Carroll in defamation case

    [ad_1]

    NEW YORK — A jury has awarded an additional $83.3 million to former advice columnist E. Jean Carroll, who says former President Donald Trump damaged her reputation by calling her a liar after she accused him of sexual assault.

    The verdict was delivered Friday by a seven-man, two-woman jury in a trial regularly attended by Trump, who abruptly left the courtroom during closing arguments by Carroll’s lawyer, only to later return.

    Carroll smiled as the verdict was read. By then, Trump had left the building in his motorcade.

    It was the second time in nine months that a jury returned a verdict related to Carroll’s claim that a flirtatious, chance encounter with Trump in 1996 at a Bergdorf Goodman store ended violently. She said Trump slammed her against a dressing room wall, pulled down her tights and forced himself on her.

    In May, a different jury awarded Carroll $5 million. It found Trump not liable for rape, but responsible for sexually abusing Carroll and then defaming her by claiming she made it up. He is appealing that award.

    Trump skipped the first trial. He later expressed regret for not attending and insisted on testifying in the second trial, though the judge limited what he could say, ruling he had missed his chance to argue that he was innocent. He spent only a few minutes on the witness stand Thursday, during which he denied attacking Carroll, then left court grumbling, “This is not America.”

    This new jury was only asked how much Trump, 77, should pay Carroll, 80, for two statements he made as president when he answered reporters’ questions after excerpts of Carroll’s memoir were published in a magazine — damages that couldn’t be decided earlier because of legal appeals. Jurors were not asked to re-decide the issue of whether the sex attack actually happened.

    Carroll’s attorneys had requested $24 million in compensatory damages and “an unusually high punitive award.”

    Her lawyer, Roberta Kaplan, urged jurors in her closing argument Friday to punish Trump enough that he would stop a steady stream of public statements smearing Carroll as a liar and a “whack job.”

    Trump shook his head vigorously as Kaplan spoke, then suddenly stood and walked out, taking Secret Service agents with him. His exit came only minutes after the judge, without the jury present, threatened to send Trump attorney Alina Habba to jail for continuing to talk when he told her she was finished.

    “You are on the verge of spending some time in the lockup. Now sit down,” the judge told Habba, who immediately complied.

    The trial reached its conclusion as Trump marches toward winning the Republican presidential nomination a third consecutive time. He has sought to turn his various trials and legal vulnerabilities into an advantage, portraying them as evidence of a weaponized political system.

    Though there’s no evidence that President Joe Biden or anyone in the White House has influenced any of the legal cases against him, Trump’s line of argument has resonated with his most loyal supporters who view the proceedings with skepticism.

    Carroll testified early in the trial that Trump’s public statements had led to death threats.

    “He shattered my reputation,” she said. “I am here to get my reputation back and to stop him from telling lies about me.”

    She said she’d had an electronic fence installed around the cabin in upstate New York where she lives, warned neighbors of the threats and bought bullets for a gun she keeps by her bed.

    “Previously, I was known as simply as a journalist and had a column, and now I’m known as the liar, the fraud, and the whack job,” Carroll testified.

    Trump’s lawyer, Habba, told jurors that Carroll had been enriched by her accusations against Trump and achieved fame she had craved. She said no damages were warranted.

    To support Carroll’s request for millions in damages, Northwestern University sociologist Ashlee Humphreys told the jury that Trump’s 2019 statements had caused between $7.2 million and $12.1 million in harm to Carroll’s reputation.

    When Trump finally testified, Kaplan gave him little room to maneuver, because Trump could not be permitted to try to revive issues settled in the first trial.

    “It is a very well-established legal principle in this country that prevents do-overs by disappointed litigants,” Kaplan said.

    “He lost it and he is bound. And the jury will be instructed that, regardless of what he says in court here today, he did it, as far as they’re concerned. That is the law,” Kaplan said shortly before Trump testified.

    After he swore to tell the truth, Trump was asked if he stood by a deposition in which he called Carroll a “liar” and a “whack job.” He answered: “100 percent. Yes.”

    Asked if he denied the allegation because Carroll made an accusation, he responded: “That’s exactly right. She said something, I consider it a false accusation.” Asked if he ever instructed anyone to hurt Carroll, he said: “No. I just wanted to defend myself, my family, and frankly, the presidency.”

    The judge ordered the jury to disregard the “false accusation” comment and everything Trump said after “No” to the last question.

    Earlier in the trial, Trump tested the judge’s tolerance. When he complained to his lawyers about a “witch hunt” and a “con job” within earshot of jurors, Kaplan threatened to eject him from the courtroom if it happened again. “I would love it,” Trump said. Later that day, Trump told a news conference Kaplan was a “nasty judge.”

    [ad_2]

    Source link

  • Russian hacking group accessed Microsoft executive emails, company says

    Russian hacking group accessed Microsoft executive emails, company says

    [ad_1]

    Microsoft Corp. said Friday a Russian hacking group illegally gained access to some of its top executives’ email accounts.

    In a regulatory filing, the software giant
    MSFT,
    +1.22%

    said a group called Nobelium was responsible for the attack.

    In late November, the group accessed “a legacy non-production test tenant account and [gained] a foothold, and then used the account’s permissions to access a very small percentage of Microsoft corporate email accounts, including members of our senior leadership team and employees in our cybersecurity, legal, and other functions, and exfiltrated some emails and attached documents,” Microsoft’s Security Response Center wrote in a blog post.

    Microsoft’s senior leadership team, which includes Chief Financial Officer Amy Hood and President Brad Smith, routinely meets with Chief Executive Satya Nadella.

    The company reported that there were no signs Nobelium had obtained customer data, production systems or proprietary source code.

    A Microsoft spokesperson provided this comment late Friday: “Our security team recently detected an attack on our corporate systems attributed to the Russian state-sponsored actor Midnight Blizzard. We immediately activated our response process to investigate, disrupt malicious activity, mitigate the attack, and deny the threat actor further access. The attack was not the result of a vulnerability in Microsoft products or services. To date, there is no evidence that the threat actor had any access to customer environments, production systems, source code, or AI systems. More information is available in our blog.”

    Nobelium, also known as APT29 or Cozy Bear, is a shadowy hacking group that attempted to crack the systems of the U.S. Defense Department and did breach the Democratic National Committee’s systems in 2016.

    Netskope Threat Labs, which tracks Nobelium, said the hacking group uses a variety of techniques to compromise accounts, including compromised Azure AD accounts to collect victim emails. “This hack underscores the importance of securing corporate email accounts, even those in non-production and test environments,” a Netskope spokesperson said. “Even if the email account isn’t regularly used or doesn’t contain anything sensitive, it can still be used to launch additional attacks.”

    Microsoft’s disclosure comes amid new U.S. requirements to report cybersecurity incidents.

    [ad_2]

    Source link

  • JetBlue, Spirit Airlines appeal court ruling blocking their proposed merger

    JetBlue, Spirit Airlines appeal court ruling blocking their proposed merger

    [ad_1]

    JetBlue Airways Corp. and Spirit Airlines Inc. said late Friday that they have appealed a court ruling that earlier this week blocked their planned merger.

    JetBlue
    JBLU,
    -1.19%

    and Spirit
    SAVE,
    +17.19%

    announced the appeal in a terse press release that provided no more details, adding only that the process is “consistent with the requirements of the merger agreement.”

    Wall Street was split on whether the airlines would be legally obliged to appeal the Tuesday ruling, which sided with the Justice Department in saying that a merger between low-cost JetBlue and ultra-low-cost Spirit would hurt competition.

    Shares of Spirit rallied 12% after hours Friday, while JetBlue shares fell nearly 2%. Analysts at JP Morgan said this week that the ruling freed JetBlue from a “costly merger.”

    Earlier Friday, Spirit sought to reassure investors about its liquidity and issued an upbeat fourth-quarter revenue guidance. Spirit has amassed about $5.5 billion in debt, and is reportedly seeking advisers to help restructure it.

    The likelihood of Spirit attracting a new merger or takeover bid is considered low without a debt restructuring. Frontier Group Holdings Inc.
    ULCC,
    -2.13%

    and JetBlue competed for Spirit in 2022, with Frontier ultimately bowing out in July of that year.

    Raymond James analyst Savanthi Syth said in a note earlier Friday that it was “clear to us that Spirit is pressing JetBlue to appeal the antitrust ruling, but we continue to believe the chances of success are low.”

    Syth has estimated that an appeal would take some four to five months.

    Shares of Spirit have lost 67% in the past 12 months, while shares of JetBlue are down 41%. The U.S. Global Jets ETF
    JETS
    has lost 9% in the same period. Those losses contrast with gains of 24% for the S&P 500 index
    SPX.

    [ad_2]

    Source link

  • U.K. police arrest six people in plan to disrupt London Stock Exchange

    U.K. police arrest six people in plan to disrupt London Stock Exchange

    [ad_1]

    Six people are in custody on Sunday as Metropolitan Police detectives investigate a plot to disrupt the London Stock Exchange, authorities said.

    The police said the arrests were made in Brighton, Liverpool, and London.

    In a statement, the Metropolitan Police in the U.K. said the allegations are that activists from the Palestine Action group were intending to target the LSE on Monday, “causing damage and ‘locking on’ in an effort to prevent the building opening for trading.”

    A representative from the LSE said they had no comment but noted that no trading takes place at London Stock Exchange itself. Equity trading is fully electronic, and there hasn’t been a physical trading floor since 1986.

    A representative from Palestine Action said in an email: “The London Stock Exchange raise billions of pounds for apartheid Israel and trade shares in weapons manufacturers which arm Israel’s genocide of the Palestinian people. Whilst Britain remains complicit in the brutal colonisation of Palestine, our direct action campaign will not be deterred.” 

    The arrests were made earlier Sunday, the police said. The Metropolitan Police added that they are in touch with City of London Police and other forces in the U.K. after a suggestion that this was one part of a planned week of action “to ensure that appropriate resources are in place to deal with any disruption.”

    [ad_2]

    Source link

  • Supreme Court to decide if Trump can be kept off 2024 election ballots

    Supreme Court to decide if Trump can be kept off 2024 election ballots

    [ad_1]

    WASHINGTON — The Supreme Court said Friday it will decide whether former President Donald Trump can be kept off the ballot because of his efforts to overturn his 2020 election loss, inserting the court squarely in the 2024 presidential campaign.

    The justices acknowledged the need to reach a decision quickly, as voters will soon begin casting presidential-primary ballots across the country. The court agreed to take up a case from Colorado stemming from Trump’s role in the events that culminated in the Jan. 6, 2021, attack on the U.S. Capitol.

    Arguments will be held in early February.

    The court will be considering for the first time the meaning and reach of a provision of the 14th Amendment barring some people who “engaged in insurrection” from holding public office. The amendment was adopted in 1868, following the Civil War. It has been so rarely used that the nation’s highest court had no previous occasion to interpret it.

    Colorado’s Supreme Court, by a 4-3 vote, ruled last month that Trump should not be on the Republican primary ballot. The decision was the first time the 14th Amendment was used to bar a presidential contender from the ballot.

    Trump is separately appealing to state court a ruling by Maine’s Democratic secretary of state, Shenna Bellows, that he was ineligible to appear on that state’s ballot over his role in the Capitol attack. Both the Colorado Supreme Court and the Maine secretary of state’s rulings are on hold until the appeals play out.

    Three of the nine Supreme Court justices were appointed by Trump, though they have repeatedly ruled against him in 2020 election-related lawsuits, as well as his efforts to keep documents related to Jan. 6 and prevent his tax returns from being turned over to congressional committees.

    At the same time, Justices Amy Coney Barrett, Neil Gorsuch and Brett Kavanaugh have been in the majority of conservative-driven decisions that overturned the five-decade-old constitutional right to abortion, expanded gun rights and struck down affirmative action in college admissions.

    Some Democratic lawmakers have called on another conservative justice, Clarence Thomas, to step aside from the case because of his wife’s support for Trump’s effort to overturn the results of the election, which he lost to Democrat Joe Biden. Thomas is unlikely to agree. He has recused himself from only one other case related to the 2020 election, involving former law clerk John Eastman, and so far the people trying to disqualify Trump haven’t asked Thomas to recuse.

    The 4-3 Colorado decision cites a ruling by Gorsuch when he was a federal judge in that state. That Gorsuch decision upheld Colorado’s move to strike a naturalized citizen from the state’s presidential ballot because he was born in Guyana and didn’t meet the constitutional requirements to run for office. The court found that Trump likewise doesn’t meet the qualifications due to his role in the U.S. Capitol attack on Jan. 6, 2021. That day, the Republican president had held a rally outside the White House and exhorted his supporters to “fight like hell” before they walked to the Capitol.

    The two-sentence provision in Section 3 of the 14th Amendment states that anyone who swore an oath to uphold the constitution and then “engaged in insurrection” against it is no longer eligible for state or federal office. After Congress passed an amnesty for most of the former confederates the measure targeted in 1872, the provision fell into disuse until dozens of suits were filed to keep Trump off the ballot this year. Only the one in Colorado was successful.

    Trump had asked the court to overturn the Colorado ruling without even hearing arguments. “The Colorado Supreme Court decision would unconstitutionally disenfranchise millions of voters in Colorado and likely be used as a template to disenfranchise tens of millions of voters nationwide,” Trump’s lawyers wrote.

    They argue that Trump should win on many grounds, including that the events of Jan. 6 did not constitute an insurrection. Even if it did, they wrote, Trump himself had not engaged in insurrection. They also contend that the insurrection clause does not apply to the president and that Congress must act, not individual states.

    Critics of the former president who sued in Colorado agreed that the justices should step in now and resolve the issue, as do many election law experts.

    “This case is of utmost national importance. And given the upcoming presidential-primary schedule, there is no time to wait for the issues to percolate further. The Court should resolve this case on an expedited timetable, so that voters in Colorado and elsewhere will know whether Trump is indeed constitutionally ineligible when they cast their primary ballots,” lawyers for the Colorado plaintiffs told the Supreme Court.

    The issue of whether Trump can be on the ballot is not the only matter related to the former president or Jan. 6 that has reached the high court. The justices last month declined a request from special counsel Jack Smith to swiftly take up and rule on Trump’s claims that he is immune from prosecution in a case charging him with plotting to overturn the 2020 presidential election, though the issue could be back before the court soon depending on the ruling of a Washington-based appeals court.

    And the court has said that it intends to hear an appeal that could upend hundreds of charges stemming from the Capitol riot, including against Trump.

    [ad_2]

    Source link

  • Verizon Mobile Customers Could Split $100 Million Settlement. Here’s How.

    Verizon Mobile Customers Could Split $100 Million Settlement. Here’s How.

    [ad_1]

    Verizon mobile phone customers could share a proposed $100 million class action settlement over monthly fees that people suing the communications company claim were unfairly charged and improperly disclosed. But those who want to claim their share of that money need to act by April 15.

    Continue reading this article with a Barron’s subscription.

    View Options
    [ad_2]
    Source link

  • When Colorado removed Trump from the ballot, a Supreme Court showdown looked likely. Maine removed all doubt.

    When Colorado removed Trump from the ballot, a Supreme Court showdown looked likely. Maine removed all doubt.

    [ad_1]

    DENVER (AP) — First, Colorado’s Supreme Court ruled that former President Donald Trump wasn’t eligible to run for his old job in that state. Then, Maine’s secretary of state ruled the same for her state.

    Both decisions are historic. The Colorado court was the first court to apply to a presidential candidate a rarely used constitutional ban against those who “engaged in insurrection.” Maine’s secretary of state was the first top election official to unilaterally strike a presidential candidate from the ballot under that provision.

    What’s next? Can Trump be put back on the ballot?

    Both decisions are on hold while the legal process plays out. That means that Trump remains on the ballot in Colorado and Maine and that his political fate is now in the hands of the U.S. Supreme Court.

    The Maine ruling will likely never take effect on its own. Its central impact is increasing pressure on the nation’s highest court to state clearly whether Trump remains eligible to run for president after the Jan. 6, 2021, attack on the U.S. Capitol.

    What’s the legal issue that could keep Trump off the ballot?

    After the Civil War, the U.S. ratified the 14th Amendment to guarantee rights to former slaves and more. It also included a two-sentence clause called Section 3, designed to keep former Confederates from regaining government power after the war.

    Section 3 of the 14th Amendment to the U.S. Constitution doesn’t require a criminal conviction to take effect.

    The measure reads: “No person shall be a Senator or Representative in Congress, or elector of President and Vice-President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may by a vote of two-thirds of each House, remove such disability.”

    Congress did remove that disability from most Confederates in 1872, and the provision fell into disuse. But it was rediscovered after Jan. 6.

    See: Nikki Haley was asked by N.H. voter to name Civil War cause. Slavery was absent from her answer.

    How does this apply to former president Trump exactly?

    Trump is already being prosecuted for the attempt to overturn his 2020 loss that culminated with Jan. 6, but Section 3 doesn’t require a criminal conviction to take effect. Dozens of lawsuits have been filed to disqualify Trump, claiming he engaged in insurrection on Jan. 6 and is no longer qualified to run for office.

    All the suits failed until the Colorado ruling. And dozens of secretaries of state have been asked to remove him from the ballot. All said they didn’t have the authority to do so without a court order — until Maine Secretary of State Shenna Bellows’s decision.

    See: As Colorado court bars Trump from ballot, poll finds 62% of GOP voters would want him as nominee even with more legal woes

    Also: Police investigating ‘incidents’ against Colorado justices after Trump removed from state’s ballot

    The Supreme Court has never ruled on Section 3. It’s likely to do so in considering appeals of the Colorado decision — the state Republican Party has already appealed, and Trump is expected to file his own shortly.

    Bellows’s ruling cannot be appealed straight to the U.S. Supreme Court — it has to be appealed up the judicial chain first, starting with a trial court in Maine.

    The Maine decision does force the high court’s hand, though. It was already highly likely the justices would hear the Colorado case, but Maine removes any doubt.

    Trump lost Colorado in 2020, and he doesn’t need to win it again to garner an Electoral College majority next year. But he won one of Maine’s four Electoral College votes in 2020 by winning the state’s 2nd Congressional District, so Bellows’s decision would have a direct impact on his odds next November.

    Until the high court rules, any state could adopt its own standard on whether Trump, or anyone else, can be on the ballot. That’s the sort of legal chaos the court is supposed to prevent.

    What is Trump’s argument?

    Trump’s lawyers have several arguments against the push to disqualify him. First, it’s not clear Section 3 applies to the president — an early draft mentioned the office, but it was taken out, and the language “an officer of the United States” elsewhere in the Constitution doesn’t mean the president, they contend.

    Second, even if it does apply to the presidency, they say, this is a “political” question best decided by voters, not unelected judges. Third, if judges do want to get involved, the lawyers assert, they’re violating Trump’s rights to a fair legal procedure by flatly ruling he’s ineligible without some sort of fact-finding process like a lengthy criminal trial. Fourth, they argue, Jan. 6 wasn’t an insurrection under the meaning of Section 3 — it was more like a riot. Finally, even if it was an insurrection, they say, Trump wasn’t involved in it — he was merely using his free speech rights.

    Of course, the lawyers who want to disqualify Trump have arguments, too.

    The main one is that the case is actually very simple: Jan. 6 was an insurrection, Trump incited it, and he’s disqualified.

    Why has this process taken so long?

    The attack of Jan. 6, 2021, occurred nearly three years ago, but the challenges weren’t “ripe,” to use the legal term, until Trump petitioned to get onto state ballots this fall.

    But the length of time also gets at another issue — no one has really wanted to rule on the merits of the case. Most judges have dismissed the lawsuits because of technical issues, including that courts don’t have the authority to tell parties whom to put on their primary ballots. Secretaries of state have dodged, too, usually telling those who ask them to ban Trump that they don’t have the authority to do so unless ordered by a court.

    No one can dodge anymore. Legal experts have cautioned that, if the Supreme Court doesn’t clearly resolve the issue, it could lead to chaos in November — or in January 2025, if Trump wins the election. Imagine, they say, if the high court ducks the issue or says it’s not a decision for the courts to make, and Democrats win a narrow majority in Congress. Would they seat Trump or declare he’s ineligible under Section 3?

    Why was this action taken in Maine?

    Maine has an unusual process in which a secretary of state is required to hold a public hearing on challenges to politicians’ spots on the ballot and then issue a ruling. Multiple groups of Maine voters, including a bipartisan clutch of former state lawmakers, filed such a challenge, triggering Bellows’s decision.

    Bellows is a Democrat and the former head of the Maine chapter of the American Civil Liberties Union. Trump’s attorneys asked her to recuse herself from the case, citing social-media posts calling Jan. 6 an “insurrection” and bemoaning Trump’s acquittal in his impeachment trial over the attack.

    She refused, saying she wasn’t ruling based on personal opinions. But the precedent she sets is notable, critics say. In theory, election officials in every state could decide a candidate is ineligible based on a novel legal theory about Section 3 and end their candidacies.

    Conservatives argue that Section 3 could apply to Vice President Kamala Harris, for example — it was used to block from office even those who donated small sums to individual Confederates. Couldn’t it be used against Harris, they say, because she raised money for those arrested in the unrest after the murder of George Floyd by Minneapolis police in 2020?

    Is this a partisan issue?

    Bellows is a Democrat, and all the justices on the Colorado Supreme Court were appointed by Democrats. Six of the 9 U.S. Supreme Court justices were appointed by Republicans, three by Trump himself.

    But courts don’t always split on predictable partisan lines. The Colorado ruling was 4-3 — so three Democratic appointees disagreed with barring Trump. Several prominent legal conservatives have championed the use of Section 3 against the former president.

    Now we’ll see how the high court handles it.

    Read on:

    Trump’s name can appear on ballot in Michigan, says state’s top court

    Georgia election workers sue Rudy Giuliani again, seek to bar him from repeating lies about them

    Trump’s Republican rivals rally to his defense after Colorado ballot ruling

    Supreme Court to hear case that could undermine obstruction charges against hundreds of Jan. 6 defendants

    [ad_2]

    Source link

  • Maine bars Trump from presidential primary ballot, citing insurrection clause

    Maine bars Trump from presidential primary ballot, citing insurrection clause

    [ad_1]

    PORTLAND, Maine — Maine’s Democratic secretary of state on Thursday removed former President Donald Trump from the state’s presidential primary ballot under the Constitution’s insurrection clause, becoming the first election official to take action unilaterally as the U.S. Supreme Court is poised to decide whether Trump remains eligible to return to the White House.

    The decision by Secretary of State Shenna Bellows follows a ruling earlier this month by the Colorado Supreme Court that booted Trump from the ballot there under Section 3 of the 14th Amendment. That decision has been stayed until the U.S. Supreme Court decides whether Trump is barred by the Civil War-era provision, which prohibits those who “engaged in insurrection” from holding office.

    The Trump campaign said it would appeal Bellows’ decision to Maine’s state courts, and Bellows suspended her ruling until that court system rules on the case. In the end, it is likely that the nation’s highest court will have the final say on whether Trump appears on the ballot in Maine and in the other states.

    Bellows found that Trump could no longer run for his prior job because his role in the Jan. 6, 2021, attack on the U.S. Capitol violated Section 3, which bans from office those who “engaged in insurrection.” Bellows made the ruling after some state residents, including a bipartisan group of former lawmakers, challenged Trump’s position on the ballot.

    “I do not reach this conclusion lightly,” Bellows wrote in her 34-page decision. “I am mindful that no Secretary of State has ever deprived a presidential candidate of ballot access based on Section 3 of the Fourteenth Amendment. I am also mindful, however, that no presidential candidate has ever before engaged in insurrection.”

    The Trump campaign immediately slammed the ruling. “We are witnessing, in real-time, the attempted theft of an election and the disenfranchisement of the American voter,” campaign spokesman Steven Cheung said in a statement.

    Legal experts said that Thursday’s ruling demonstrates the need for the nation’s highest court, which has never ruled on Section 3, to clarify what states can do.

    “It is clear that these decisions are going to keep popping up, and inconsistent decisions reached (like the many states keeping Trump on the ballot over challenges) until there is final and decisive guidance from the U.S. Supreme Court,” Rick Hasen, a law professor at the University of California-Los Angeles, wrote in response to the Maine decision. “It seems a certainty that SCOTUS will have to address the merits sooner or later.”

    While Maine has just four electoral votes, it’s one of two states to split them. Trump won one of Maine’s electors in 2020, so having him off the ballot there, should he emerge as the Republican general election candidate, could have outsized implications in a race that is expected to be narrowly decided.

    That’s in contrast to Colorado, which Trump lost by 13 percentage points in 2020 and where he wasn’t expected to compete in November if he wins the Republican presidential nomination.

    In her decision, Bellows acknowledged that the U.S. Supreme Court will probably have the final word but said it was important she did her official duty.

    That won her praise from the former state lawmakers who filed one of the petitions forcing her to consider the case.

    “Secretary Bellows showed great courage in her ruling, and we look forward to helping her defend her judicious and correct decision in court. No elected official is above the law or our constitution, and today’s ruling reaffirms this most important of American principles,” Republican Kimberly Rosen, independent Thomas Saviello and Democrat Ethan Strimling said in a statement.

    But other Republicans in the state were outraged.

    “This is a sham decision that mimics Third World dictatorships,” Maine’s House Republican leader, Billy Bob Faulkingham, said in a statement. “It will not stand legal scrutiny. People have a right to choose their leaders devoid of mindless decisions by partisan hacks.”

    The Trump campaign on Tuesday requested that Bellows disqualify herself from the case because she’d previously tweeted that Jan. 6 was an “insurrection” and bemoaned that Trump was acquitted in his impeachment trial in the U.S. Senate after the capitol attack. She refused to step aside.

    “My decision was based exclusively on the record presented to me at the hearing and was in no way influenced by my political affiliation or personal views about the events of Jan. 6, 2021,” Bellows told the Associated Press Thursday night.

    Bellows is a former head of the Maine chapter of the American Civil Liberties Union. All seven of the justices of the Colorado Supreme Court, which split 4-3 on whether to become the first court in history to declare a presidential candidate ineligible under Section 3, were appointed by Democrats. Two Washington, D.C.-based liberal groups have launched the most serious prior challenges to Trump, in Colorado and a handful of other states.

    That’s led Trump to contend the dozens of lawsuits nationwide seeking to remove him from the ballot under Section 3 are a Democratic plot to end his campaign. But some of the most prominent advocates have been conservative legal theorists who argue that the text of the Constitution makes the former president ineligible to run again, just as if he failed to clear the document’s age threshold — 35 years old — for the office.

    Likewise, until Bellows’ decision, every top state election official, whether Democrat or Republican, had rejected requests to bar Trump from the ballot, saying they didn’t have the power to remove him unless ordered to do so by a court.

    The timing on the U.S. Supreme Court’s decision is unclear, but both sides want it fast. Colorado’s Republican Party appealed the Colorado high court decision on Wednesday, urging an expedited schedule, and Trump is also expected to file an appeal within the week. The petitioners in the Colorado case on Thursday urged the nation’s highest court to adopt an even faster schedule so it could rule before March 5, known as Super Tuesday, when 16 states, including Colorado and Maine, are scheduled to vote in the Republican presidential nominating process.

    The high court needs to formally accept the case first, but legal experts consider that a certainty. The Section 3 cases seem tailor-made for the Supreme Court, addressing an area of U.S. governance where there’s scant judicial guidance.

    The clause was added in 1868 to keep defeated Confederates from returning to their former positions of power in local and federal government. It prohibits anyone who broke an oath to “support” the Constitution from holding office. The provision was used to bar a wide range of ex-Confederates from positions ranging from local sheriff to Congress, but fell into disuse after an 1872 congressional amnesty for most former Confederates.

    Legal historians believe the only time the provision was used in the 20th Century was in 1919, when it was cited to deny a House seat to a socialist who had opposed U.S. involvement in World War I. But since the Jan. 6 attack, it has been revived.

    Last year, it was cited by a court to remove a rural New Mexico County Commissioner who had entered the Capitol on Jan. 6. One liberal group tried to remove Republican Reps. Madison Cawthorn and Marjorie Taylor Greene from the 2022 ballot under the provision, but Cawthorn lost his primary so his case was thrown out, and a judge ruled for Greene.

    Some critics of the movement to bar Trump warn that the provision could be weaponized in unexpected ways.

    They note that conservatives could argue, for example, that Vice President Kamala Harris is likewise barred from office because she raised bail funds for people arrested during the unrest following George Floyd’s 2020 murder at the hands of Minneapolis police.

    The plaintiffs in Colorado presented historical evidence that even the donation of small sums to money to those seeking to join the Confederacy was grounds for being barred by Section 3. Why, critics have asked, wouldn’t that apply to Democrats like Harris today?

    [ad_2]

    Source link

  • Apple can sell its latest smartwatches again after court pauses FTC import ban

    Apple can sell its latest smartwatches again after court pauses FTC import ban

    [ad_1]

    The latest Apple Watches are available again after the company scored a legal victory Wednesday.

    “We are thrilled to return the full Apple Watch lineup to customers in time for the new year,” Apple
    AAPL,
    +0.05%

    said in a statement to MarketWatch. “Apple Watch Series 9 and Apple Watch Ultra 2, including the blood-oxygen feature, will become available for purchase again in the United States at Apple Stores starting today and from apple.com tomorrow by 3 p.m. ET.”

    A U.S. appeals court earlier Wednesday temporarily blocked a government commission’s import ban on popular Apple Watch models following a patent dispute with medical-technology firm Masimo Corp.
    MASI,
    -4.57%
    .

    The court’s order allows Apple to temporarily resume selling the Apple Watch Series 9 and Apple Watch Ultra 2. Both watches were pulled from Apple’s website last week and off store shelves this week when the ban went into effect. The appeals court is weighing a longer halt on the import and sales ban.

    Masimo declined to comment.

    On Tuesday, the tech giant filed an emergency request for the U.S. Court of Appeals for the Federal Circuit to halt the ban at least until U.S. Customs and Border Protection decides whether redesigned versions of its watches infringe Masimo’s patents.

    The appeals court’s decision will allow the U.S. Customs department to consider Apple’s redesign of the offending Apple Watch models. A fix is expected by Jan. 12. Apple said in the motion Tuesday it could “suffer irreparable harm” if the ban is kept in place while the appeal is ongoing.

    Shares of Apple were flat in trading Wednesday.

    [ad_2]

    Source link

  • Colorado Supreme Court bars Trump from the state’s primary ballot

    Colorado Supreme Court bars Trump from the state’s primary ballot

    [ad_1]

    DENVER — A divided Colorado Supreme Court on Tuesday declared former President Donald Trump ineligible for the White House under the U.S. Constitution’s insurrection clause and removed him from the state’s presidential primary ballot, setting up a likely showdown in the nation’s highest court to decide whether the front-runner for the GOP nomination can remain in the race.

    The decision from a court whose justices were all appointed by Democratic governors marks the first time in history that Section 3 of the 14th Amendment has been used to disqualify a presidential candidate.

    “A majority of the court holds that Trump is disqualified from holding the office of president under Section 3 of the 14th Amendment,” the court wrote in its 4-3 decision.

    Colorado’s highest court overturned a ruling from a district court judge who found that Trump incited an insurrection for his role in the Jan. 6, 2021, attack on the Capitol, but said he could not be barred from the ballot because it was unclear that the provision was intended to cover the presidency.

    The court stayed its decision until Jan. 4, or until the U.S. Supreme Court rules on the case.

    “We do not reach these conclusions lightly,” wrote the court’s majority. “We are mindful of the magnitude and weight of the questions now before us. We are likewise mindful of our solemn duty to apply the law, without fear or favor, and without being swayed by public reaction to the decisions that the law mandates we reach.”

    Trump’s attorneys had promised to appeal any disqualification immediately to the nation’s highest court, which has the final say about constitutional matters.

    “The Colorado Supreme Court issued a completely flawed decision tonight and we will swiftly file an appeal to the United States Supreme Court and a concurrent request for a stay of this deeply undemocratic decision,” Trump campaign spokesman Steven Cheung said in a statement Tuesday night.

    Trump lost Colorado by 13 percentage points in 2020 and doesn’t need the state to win next year’s presidential election. But the danger for the former president is that more courts and election officials will follow Colorado’s lead and exclude Trump from must-win states.

    Colorado officials say the issue must be settled by Jan. 5, the deadline for the state to print its presidential primary ballots.

    Dozens of lawsuits have been filed nationally to disqualify Trump under Section 3, which was designed to keep former Confederates from returning to government after the Civil War. It bars from office anyone who swore an oath to “support” the Constitution and then “engaged in insurrection or rebellion” against it, and has been used only a handful of times since the decade after the Civil War.

    The Colorado case is the first where the plaintiffs succeeded. After a weeklong hearing in November, District Judge Sarah B. Wallace found that Trump indeed had “engaged in insurrection” by inciting the Jan. 6 attack on the Capitol, and her ruling that kept him on the ballot was a fairly technical one.

    Trump’s attorneys convinced Wallace that, because the language in Section 3 refers to “officers of the United States” who take an oath to “support” the Constitution, it must not apply to the president, who is not included as an “officer of the United States” elsewhere in the document and whose oath is to “preserve, protect and defend” the Constitution.

    The provision also says offices covered include senator, representative, electors of the president and vice president, and all others “under the United States,” but doesn’t name the presidency.

    The state’s highest court didn’t agree, siding with attorneys for six Colorado Republican and unaffiliated voters who argued that it was nonsensical to imagine the framers of the amendment, fearful of former Confederates returning to power, would bar them from low-level offices but not the highest one in the land.

    “You’d be saying a rebel who took up arms against the government couldn’t be a county sheriff, but could be the president,” attorney Jason Murray said in arguments before the court in early December.

    Trump’s attorneys argued unsuccessfully that the writers of the amendment expected the Electoral College to prevent former insurrectionists from becoming president.

    They also had urged the Colorado high court to reverse Wallace’s ruling that Trump incited the Jan. 6 attack. His lawyers argued the then-president had simply been using his free speech rights and hadn’t called for violence. Trump attorney Scott Gessler also argued the attack was more of a “riot” than an insurrection.

    That met skepticism from several of the justices.

    “Why isn’t it enough that a violent mob breached the Capitol when Congress was performing a core constitutional function?” Justice William W. Hood III said during the Dec. 6 arguments. “In some ways, that seems like a poster child for insurrection.”

    In the ruling issued Tuesday, the court’s majority dismissed the arguments that Trump wasn’t responsible for his supporters’ violent attack, which was intended to halt Congress’ certification of the presidential vote: “President Trump then gave a speech in which he literally exhorted his supporters to fight at the Capitol,” they wrote.

    Colorado Supreme Court Justices Richard L. Gabriel, Melissa Hart, William W. Hood III and Monica Márquez ruled for the petitioners. Chief Justice Brian D. Boatright dissented, arguing the constitutional questions were too complex to be solved in a state hearing. Justices Maria E. Berkenkotter and Carlos Samour also dissented.

    “Our government cannot deprive someone of the right to hold public office without due process of law,” Samour wrote in his dissent. “Even if we are convinced that a candidate committed horrible acts in the past — dare I say, engaged in insurrection — there must be procedural due process before we can declare that individual disqualified from holding public office.”

    The Colorado ruling stands in contrast with the Minnesota Supreme Court, which last month decided that the state party can put anyone it wants on its primary ballot. It dismissed a Section 3 lawsuit but said the plaintiffs could try again during the general election.

    In another 14th Amendment case, a Michigan judge ruled that Congress, not the judiciary, should decide whether Trump can stay on the ballot. That ruling is being appealed.

    The liberal group behind those cases, Free Speech For People, also filed another lawsuit in Oregon seeking to bounce Trump from the ballot there. The Colorado case was filed by another liberal group, Citizens for Responsibility and Ethics in Washington.

    Both groups are financed by liberal donors who also support President Joe Biden. Trump has blamed the president for the lawsuits against him, even though Biden has no role in them, saying his rival is “defacing the constitution” to try to end his campaign.

    [ad_2]

    Source link

  • Activision Blizzard to pay $55 million to settle California civil-rights lawsuit

    Activision Blizzard to pay $55 million to settle California civil-rights lawsuit

    [ad_1]

    Videogame maker Activision Blizzard has agreed to pay nearly $55 million to settle a California civil-rights lawsuit brought over complaints of sexual harassment, discrimination and pay disparities by women employees that helped trigger the company’s acquisition by Microsoft.

    The settlement, announced by the California Civil Rights Department on Friday evening, resolves the lawsuit filed against the “Call of Duty” videogame studio by the agency in 2021 over claims that it “discriminated against women at the company, including by denying promotion opportunities and paying them less than men for doing substantially similar work,” CRD said.

    The agreement, subject to court approval, will see Activision pay nearly $46 million into a settlement fund dedicated to compensating women employees and contract workers at the company, plus more than $9 million in attorneys’ fees and costs. Additionally, Activision will take steps “to help ensure fair pay and promotion practices at the company,” including retaining an independent consultant to evaluate its compensation and promotion policies.

    Yet the settlement also sees CRD withdraw its initial claims alleging a culture of widespread, systemic workplace sexual harassment at Activision, according to a copy of the agreement provided to MarketWatch. The document notes that the department is filing an amended complaint that removes the sexual-harassment allegations against the company and focuses on the gender-based pay and promotion claims.

    CRD made no note of its prior sexual-harassment claims against Activision in its announcement Friday. A spokesperson for the department said the statement “largely speaks for itself with respect to the historic nature of this more than $50 million settlement agreement, which will bring direct relief and compensation to women who were harmed by the company’s discriminatory practices.

    Representatives for Activision declined to comment.

    The Wall Street Journal first reported the news of the settlement Friday.

    The California agency’s complaint was one of several high-profile investigations by both state and federal regulators in recent years into alleged workplace misconduct at Activision and failures by its leadership to respond appropriately. 

    While Activision repeatedly denied the allegations, they ramped up pressure on the Santa Monica, Calif.-based company and its CEO, Bobby Kotick, and eventually led to a $68.7 billion takeover bid by Microsoft
    MSFT,
    +1.31%

    in January 2022. The acquisition closed this October after receiving approval by U.K. and E.U. antitrust regulators, though the U.S. Federal Trade Commission continues to challenge the deal in court. Kotick is expected to leave the company, which he led for more than three decades, at the end of this year.

    The settlement would be the second-largest ever for the California Civil Rights Department, according to the Journal, after its $100 million agreement with another Los Angeles-area videogame developer, Riot Games, to resolve gender-discrimination allegations in 2021. The agency had initially sought a much-larger settlement with Activision, the publication reported, citing how the state had estimated the company’s liability at nearly $1 billion to some 2,500 employees with potential claims.

    [ad_2]

    Source link

  • Hunter Biden indicted on 9 tax charges, adding to gun charges in special counsel probe

    Hunter Biden indicted on 9 tax charges, adding to gun charges in special counsel probe

    [ad_1]

    WASHINGTON — Hunter Biden was indicted on nine tax charges in California on Thursday as a special counsel investigation into the business dealings of President Joe Biden’s son intensifies against the backdrop of the looming 2024 election.

    The new charges — three felonies and six misdemeanors — are in addition to federal firearms charges in Delaware alleging Hunter Biden broke laws against drug users having guns in 2018. They come after the implosion of a plea deal over the summer that would have spared him jail time.

    Hunter Biden “spent millions of dollars on an extravagant lifestyle rather than paying his tax bills,” special counsel David Weiss said in a statement. The charges are centered on at least $1.4 million in taxes Hunter Biden owed during between 2016 and 2019, a period where he has acknowledged struggling with addiction. The back taxes have since been paid.

    If convicted, Hunter Biden could face up to 17 years in prison. The special counsel probe remains open, Weiss said.

    In a fiery response, defense attorney Abbe Lowell accused Weiss of “bowing to Republican pressure” in the case.

    “Based on the facts and the law, if Hunter’s last name was anything other than Biden, the charges in Delaware, and now California, would not have been brought,” Lowell said in a statement.

    The White House declined to comment on Thursday’s indictment, referring questions to the Justice Department or Hunter Biden’s personal representatives.

    The charging documents filed in California, where he lives, details spending on everything from drugs and girlfriends to luxury hotels and exotic cars, “in short, everything but his taxes,” prosecutor Leo Wise wrote.

    The indictment comes as congressional Republicans pursue an impeachment inquiry into President Biden, claiming he was engaged in an influence-peddling scheme with his son. The House is expected to vote next week on formally authorizing the inquiry.

    No evidence has emerged so far to prove that Joe Biden, in his current or previous office, abused his role or accepted bribes, though questions have arisen about the ethics surrounding the Biden family’s international business.

    The criminal investigation led by Weiss has been open since 2018, and was expected to wind down with the plea deal that Hunter Biden had planned to strike with prosecutors over the summer. He would have pleaded guilty to two misdemeanor tax evasion charges and would have entered a separate agreement on the gun charge, getting two years of probation rather than jail time.

    It was pilloried as a “sweetheart deal” by Republicans, including former President Donald Trump, who is facing criminal charges in multiple cases.

    The agreement also contained immunity provisions, and defense attorneys have argued that they remain in force since that part of the agreement was signed by a prosecutor before the deal was scrapped.

    Prosecutors disagree, pointing out the documents weren’t signed by a judge and are invalid.

    After the deal fell apart, prosecutors filed three federal gun charges alleging that Hunter Biden had lied about his drug use to buy a gun that he kept for 11 days in 2018. Federal law bans gun possession by “habitual drug users,” though the measure is seldom seen as a stand-alone charge and has been called into question by a federal appeals court.

    The defense is planning to push next week for dismissal of the “unprecedented and unconstitutional” gun charges, Lowell said.

    Hunter Biden’s longstanding struggle with substance abuse had worsened during that period after the death of his brother Beau Biden in 2015, prosecutors wrote in a draft plea agreement filed in court in Delaware.

    He still made “substantial income” in 2017 and 2018, including $2.6 million in business and consulting fees from a company he formed with the CEOs of a Chinese business conglomerate and the Ukrainian energy company Burisma, but did not pay his taxes on a total of about $4 million in personal income during that period, prosecutors said in the scuttled Delaware plea agreement.

    He did eventually file his taxes in 2020 and the back taxes were paid by a “third party” the following year, prosecutors said.

    [ad_2]

    Source link

  • Why do people keep suing celebrities like Ronaldo and Tom Brady over crypto losses?

    Why do people keep suing celebrities like Ronaldo and Tom Brady over crypto losses?

    [ad_1]

    Ever since the collapse of crypto currencies last year, the lawsuits have been flying.

    But a series of class-action suits targeting celebrity endorsers of crypto exchanges like FTX and Binance have been piling up in federal court in Miami, all filed by the same group of south Florida lawyers.

    The latest suit names global soccer superstar Cristiano Ronaldo for allegedly promoting “the mass solicitation of investments in unregistered securities” sold by Binance, the crypto exchange that was hit with a $4 billion fine last week after pleading guilty to violating the bank secrecy act.

    The suit was filed in federal court in the southern district of Florida this week and centered around Ronaldo’s role in a global marketing campaign launched in 2022 for a series of Binance NFTs — or non-fungible tokens, a form of blockchain-backed art works that were, for a brief time, wildly popular.

    A representative for Ronaldo didn’t immediately respond to a message seeking comment.

    The filing against Ronaldo on Monday came alongside similar class action suits naming Major League Baseball, Formula 1 racing, Mercedes Benz and the advertising giants Dentsu and Wasserman, who created much of FTX’s global promotion campaign.

    Messages left with representatives for MLB, Formula 1, Mercedes Benz, Dentsu and Wasserman weren’t immediately returned.

    Those suits are the latest in a series of similar class action suits starting last year against celebrity endorsers of failed crypto exchanges such as Voyager and FTX, in which customers lost billions of dollars in deposits.

    Over the past 18 months, a group of south Florida lawyers led by Adam Moskowitz have brought the suits on behalf of investors who lost money in last year’s crypto collapse, against paid celebrity endorsers including Shaquille O’Neal, Mark Cuban, Tom Brady, Gisele Bundchen, Shohei Ohtani, Larry David, Steph Curry and Naomi Osaka.

    “All of these celebrities were paid hundreds of millions of dollars taken directly from customer deposits,” Moskowitz said in a statement. “Some of the most famous and wealthiest groups in the world may now be held responsible for the dramatic $20 billion dollar crypto collapse and biggest financial scandals in U.S. history.”    

    Moskowitz, who has been joined in the suits by lawyers with the firms Mark Migdal & Hayden and Boies Schiller and Flexner, headed by famed litigator David Boies, is seeking at least $5 billion in damages from those who helped promote the crypto exchanges. 

    The cases from last year are ongoing and each of the celebrities named have been fighting the suits in court. 

    Moskowitz, who specializes in class-action lawsuits, says issues revolving around crypto first got his attention more than two years ago, before the entire market crashed, when he came to believe that the special tokens each exchange was minting amounted to an unregistered security.

    He first filed a lawsuit against Voyager early last year, before the exchange collapsed and the Securities and Exchange Commission began filing suits against many in the industry accusing them of dealing in unregistered securities.

    “Right then what we were doing started to gain traction,” he said.

    A series of favorable court rulings have allowed his cases to gain steam, he said, and has allowed to him to take the lead in such actions.

    In another class action suit filed earlier this year, Moskowitz and his partners sued a group of YouTube financial influencers for their role in promoting FTX, accusing them of taking cash for uncritically singing the exchange’s praises.

    Moskowitz said several of those suits have been settled but that others have continued. 

    [ad_2]

    Source link

  • Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

    Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills

    [ad_1]

    BERLIN—Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments.

    A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.

    Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

    [ad_2]

    Source link

  • Crypto bulls eye $40,000 as bitcoin’s next level as the coin refreshes yearly high

    Crypto bulls eye $40,000 as bitcoin’s next level as the coin refreshes yearly high

    [ad_1]

    Crypto bulls are eyeing $40,000 as bitcoin’s next level, with the recent rally sending the crypto to a new high for the year, as the market shakes off the news that Binance’s co-founder Changpeng Zhao pleaded guilty on Tuesday to criminal charges related to violating U.S. anti-money-laundering laws, and stepped down as head of the company.

    The largest crypto BTCUSD on Friday rose to as high as $38,294, the loftiest level since May 2022, according to CoinDesk data. It climbed over 3% over the past 24 hours. 

    Bitcoin…

    Master your money.

    Subscribe to MarketWatch.

    Get this article and all of MarketWatch.

    Access from any device. Anywhere. Anytime.


    Subscribe Now

    [ad_2]

    Source link

  • Hamas releases first group of hostages under truce agreement with Israel

    Hamas releases first group of hostages under truce agreement with Israel

    [ad_1]

    DEIR AL-BALAH, Gaza Strip (AP) — Hamas released the first batch of hostages under a ceasefire deal that began Friday, including 13 Israelis who have been held in the Gaza Strip since the militant group staged a raid on Israel nearly seven weeks ago, according to officials and media reports.

    Twelve Thai nationals were also released, according to Thai Prime Minister Srettha Thavisin.

    Dozens of Palestinian prisoners are expected to be freed by Israel.

    The ceasefire between Israel and Hamas began Friday, setting the stage for the exchange and allowing sorely needed aid to start flowing into Gaza.

    Don’t miss: A secret line of communication and a pivotal U.S. role: How the hostage-release deal evolved — and nearly fell apart — in final days

    There were no reports of fighting after the truce began. The deal offered some relief for Gaza’s 2.3 million people, who have endured weeks of Israeli bombardment and dwindling supplies of basic necessities, as well as for families in Israel worried about loved ones taken captive during Hamas’s Oct. 7 attack, which triggered the war.

    The truce raised hopes of eventually winding down the conflict, which has flattened vast swaths of Gaza, fueled a surge of violence in the occupied West Bank and stirred fears of a wider conflagration across the Middle East. Israel, however, has said it is determined to resume its massive offensive once the ceasefire ends.

    Under the deal, Gaza’s ruling Hamas group pledged to free at least 50 of the about 240 hostages it and other militants took in the Oct. 7 raid. In exchange, Hamas said Israel would free 150 Palestinian prisoners.

    It was not expected that captive Americans would be among those released late Friday afternoon, but the Biden White House said in a statement that it continued to work to ensure that U.S. nationals, including an Israeli-American girl who turns 4 on Friday, are among the initial 50.

    Both sides agreed to release women and children first, in stages starting Friday, and as planned 13 Israelis were released, according to Israeli media, citing security officials. An Israeli official, meanwhile, confirmed that the Thai captives left Gaza and were en route to a hospital in Israel.

    The official spoke on condition of anonymity because she was not authorized to discuss the releases with the media.

    Israel said the deal calls for the truce to be extended an extra day for every additional 10 hostages freed.

    Early in the day, ambulances were seen arriving at the Hatzerim air base in southern Israel, preparing for the release. Those freed will then be taken to hospitals for assessment and treatment, Israeli officials said.

    See: Ambulances positioned at Israeli military base ahead of Hamas hostage release

    Among the Israeli citizens freed some have a second nationality, according to a Hamas official who spoke on condition of anonymity because he was not authorized to discuss details with the media.

    Israel’s Justice Ministry published a list of 300 Palestinian prisoners eligible for release. Thirty-nine — 24 women, including some convicted of attempted murder for attacks on Israeli forces, and 15 teenagers jailed for offenses like throwing stones — were expected to be freed Friday, Palestinian authorities said.

    On Friday, the truce brought quiet after weeks in which Gaza saw heavy bombardment and artillery fire daily as well as street fighting as ground troops advanced through neighborhoods in the north. The last report of air-raid sirens in Israeli towns near the territory came shortly after the truce took effect.

    Not long after, four tankers with fuel and four with cooking gas entered the Gaza Strip from Egypt, Israel said.

    Israel has agreed to allow the delivery of 130,000 liters, or 34,340 gallons, of fuel per day during the truce — still only a small portion of Gaza’s estimated daily needs of more than 1 million liters.

    For most of the past seven weeks of war, Israel had barred the entry of fuel to Gaza, claiming it could be used by Hamas for military purposes — though it has occasionally allowed small amounts in.

    U.N. aid agencies pushed back against the claim, saying fuel deliveries were closely supervised and urgently needed to avert a humanitarian catastrophe since fuel is required to run generators that power water-treatment facilities, hospitals and other critical infrastructure.

    The Israeli military dropped leaflets over southern Gaza, warning hundreds of thousands of displaced Palestinians who sought refuge there not to return to their homes in the territory’s north, the focus of Israel’s ground offensive.

    Even though Israel warned that it would block such attempts, hundreds of Palestinians could be seen walking north Friday.

    Two were shot and killed by Israeli troops and another 11 were wounded. An Associated Press journalist saw the two bodies and the wounded as they arrived at a hospital.

    Sofian Abu Amer, who had fled Gaza City, said he decided to risk heading north to check on his home.

    “We don’t have enough clothes, food and drinks,” he said. “The situation is disastrous. It’s better for a person to die.”

    The hope is that “momentum” from the deal will lead to an “end to this violence,” said Majed al-Ansari, a spokesman for the Foreign Ministry of Qatar, which served as a mediator along with the United States and Egypt.

    But hours before it came into effect, Israeli Defense Minister Yoav Gallant was quoted telling troops that their respite would be short and that the war would resume with intensity and continue for at least two more months.

    Prime Minister Benjamin Netanyahu has also vowed to continue the war to destroy Hamas’s military capabilities, end its 16-year rule in Gaza and return all the hostages.

    Israel’s northern border with Lebanon was also quiet on Friday, a day after the militant Hezbollah group, an ally of Hamas, carried out the highest number of attacks in one day since fighting there began Oct. 8.

    Hezbollah is not a party to the ceasefire agreement but was widely expected to halt its attacks.

    The war erupted when several thousand Hamas militants stormed into southern Israel, killing at least 1,200 people, mostly civilians, and taking scores of hostages, including babies, women and older adults, as well as soldiers.

    The soldiers will only be released in exchange for all Palestinians imprisoned by Israel, according to the Islamic Jihad militant group, which is reportedly holding about 40 hostages.

    It is not clear how many of the hostages are currently serving in the military or whether the militants also consider reserve soldiers to be “military hostages.”

    According to the Palestinian Prisoners’ Club, an advocacy group, Israel is currently holding 7,200 Palestinians on security charges or convictions, including about 2,000 arrested since the start of the war.

    The Israeli offensive has killed more than 13,300 Palestinians, according to the Health Ministry in Hamas-ruled Gaza, which resumed its detailed count of casualties in Gaza after stopping for weeks because of the health system’s collapse in the north.

    The ministry says some 6,000 people have been reported missing, feared buried under rubble.

    The ministry does not differentiate between civilians and militants in its death tolls. Women and minors have consistently made up around two-thirds of the dead, though the new number was not broken down. The figure does not include updated numbers from hospitals in the north.

    Israel says it has killed thousands of Hamas fighters, without presenting evidence for its count.

    MarketWatch contributed.

    [ad_2]

    Source link