Daily Archives: July 13, 2022, 10:19 am

Twitter Seeks Quick Trial in Suit Against Elon Musk for Dropping Takeover – Bloomberg

Twitter Inc. wants a lightning-quick trial to resolve its claim that billionaire Elon Musk wrongfully canceled his proposed $44 billion buyout of the social-media platform. Lawyers for the San Francisco-based company say they need only four days in Delaware Chancery Court to prove that the world’s richest man should be forced to honor his agreement and pay $54.20 a share…

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David Bartels, Former Deputy Chief Counsel of the SEC’s Division of Investment Management, Joins Dechert’s SEC Regulatory Practice

Dechert LLP is pleased to announce that David Bartels has joined the firm’s financial services group as a partner in the Washington, D.C. office. Mr. Bartels joins Dechert from the U.S. Securities and Exchange Commission, where he served as Deputy Chief Counsel of the Division of Investment Management.  As one of five senior officers overseeing policy in the Division, Mr.…

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Berkshire Hathaway’s Charlie Munger: Crypto is ‘an open sewer’

Berkshire Hathaway’s billionaire vice chairman Charlie Munger renewed his scathing criticism of the cryptocurrency sector – calling the industry a “sewer” full of bad actors selling digital coins that lack any actual value. Munger, one of the financial world’s most vocal critics of cryptocurrencies, referred to the “crypto craze” as a “mass folly” during an interview published on Tuesday. “I…

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California Is Investigating ‘Multiple’ Crypto Lending Companies

The California Department of Financial Protection and Innovation (DFPI) is investigating several U.S.-based crypto lenders after a series of prominent lenders indefinitely halted withdrawals and transfers between user accounts, according to a press release issued on Tuesday. The department didn’t name the companies under investigation, but it did say it is eyeing “multiple” companies that “offer customers interest-bearing crypto asset…

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Twitter Unloads on Musk – The New York Times

Twitter filed a much-anticipated lawsuit yesterday as it looks to force Elon Musk to close his $44 billion acquisition of the company. Twitter argues that it has every right to do so under a specific performance provision in the deal contract. The company, with the help of lawyers at Wachtell (which has also worked for Musk), set fire to Musk’s…

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