Daily Archives: August 2, 2013, 11:03 am

A Plant Grows In Brooklyn: EDNY Judge Scrutinizes Deferred Prosecution Deal – Forbes

The approach taken to DPAs by Judges Gleeson and Boyle should, at a minimum, lead the government and defense counsel to be prepared to justify their agreement if questioned by a court.  Further, the scrutiny of DPAs could encourage the government to enter non-prosecution agreements (NPAs) in lieu of DPAs, for, as Judge Gleeson observed, judicial supervision does not apply…

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Judge OKs $590M Citi Deal But Dings Plaintiffs Lawyers on Fees — The Litigation Daily

U.S. District Judge Sidney Stein in Manhattan granted final approved to Citigroup Inc.’s $590 million settlement with shareholders on Thursday, but not without slashing a $100 million fee request submitted by plaintiffs lawyers at Kirby McInerney. The ruling, which you can read here, is a partial victory for class action reformer Ted Frank, who argued in an objection that plaintiffs…

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Hedge funds after SAC: Edge fund — The Economist

Four-letter words are no rarity on trading floors. Few are likely to cause greater alarm nowadays than “edge”, the term for one investor’s nebulous advantage over others. In America authorities seem to have concluded that “edge” is little more than a euphemism for insider trading. On July 25th a slew of American federal agencies backed a criminal case against SAC…

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