UBS expects to be sued by US Justice Department over crisis-era mortgage securities

The U.S. Department of Justice did not immediately respond to a request for comment. UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint. It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007. The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial


The U.S. Department of Justice did not immediately respond to a request for comment. UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint. It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007. The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial
UBS expects to be sued by US Justice Department over crisis-era mortgage securities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, justice, sued, group, expects, sale, sought, bank, ubs, law, mortgage, department, crisisera, settled, securities


UBS expects to be sued by US Justice Department over crisis-era mortgage securities

UBS Group, Switzerland’s largest bank, said it expects to be sued by the U.S. Department of Justice as early as Thursday on civil charges related to the sale of mortgage-backed securities in the run-up to the 2008-2009 financial crisis, according to a company statement.

The bank said the claims were not supported by the facts or the law and it would contest any such complaint “vigorously.”

The U.S. Department of Justice did not immediately respond to a request for comment.

UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint.

It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007.

The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial crisis.

The Department of Justice has settled similar claims with Citigroup, Deutsche Bank, JPMorgan Chase, Credit Suisse Group, Morgan Stanley, Goldman Sachs, Bank of America and Barclays.

Barclays settled for $2 billion in March after resisting a penalty the U.S. government sought near the end of the Obama administration in 2016. Justice had sought a much higher fine at the time and, when the two sides could not come to terms, the department filed a lawsuit.

More recently, HSBC Holdings agreed to pay $765 million last month to settle with the Justice Department over its sale of defective mortgage securities before the crisis, while major player Royal Bank of Scotland Group reached a $4.9 billion deal in May.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, justice, sued, group, expects, sale, sought, bank, ubs, law, mortgage, department, crisisera, settled, securities


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Cristiano Ronaldo: Sponsors EA and Nike concerned about rape claims

Sportswear maker Nike and video game maker Electronic Arts said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world’s best soccer players. The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada. “We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” Nike said in a statement to Reuters. “We have seen the concerning report that detai


Sportswear maker Nike and video game maker Electronic Arts said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world’s best soccer players. The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada. “We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” Nike said in a statement to Reuters. “We have seen the concerning report that detai
Cristiano Ronaldo: Sponsors EA and Nike concerned about rape claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: isabella bonotto, afp, getty images
Keywords: news, cnbc, companies, ronaldo, cristiano, juventus, nike, allegations, sponsors, rape, ea, claims, sued, million, concerned, soccer, team, situation


Cristiano Ronaldo: Sponsors EA and Nike concerned about rape claims

Sportswear maker Nike and video game maker Electronic Arts said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world’s best soccer players.

The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada.

“We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” Nike said in a statement to Reuters.

Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him worth as much as $1 billion, according to Forbes magazine.

Electronic Arts has featured Ronaldo on the cover of its EA Sports’ FIFA series for two years.

“We have seen the concerning report that details allegations against Cristiano Ronaldo,” an EA spokesperson said in an email to Reuters.

“We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA’s values,” the company said.

Kathryn Mayorga sued Ronaldo in a district court in Clark County, Nevada, alleging he raped her in 2009 in a Las Vegas hotel penthouse suite.

The player has said his conscience was clear and that he would await the results of any investigation.

“I firmly deny the accusations being issued against me. Rape is an abominable crime that goes against everything that I am and believe in,” the world-famous athlete wrote in a tweet to his 75 million followers.

Ronaldo transferred from soccer team Real Madrid to Italian champions Juventus this summer for 100 million euros. Juventus broke their silence on the situation Wednesday afternoon on Twitter, fully backing Ronaldo.

“Cristiano Ronaldo has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus,” the team tweeted.

“The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion,” Juventus said.


Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: isabella bonotto, afp, getty images
Keywords: news, cnbc, companies, ronaldo, cristiano, juventus, nike, allegations, sponsors, rape, ea, claims, sued, million, concerned, soccer, team, situation


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Netflix is sued by EasyJet founder over TV series ‘Easy’

EasyGroup, the company behind the EasyJet airline, is suing Netflix over its “Easy” comedy series, saying that use of the name breaches its European trademarks. The series, directed by Joe Swanberg, follows a variety of couples in Chicago exploring sex and romance, with stars including actors Orlando Bloom and Emily Ratajkowski. In a statement emailed to CNBC, EasyGroup founder Sir Stelios Haji-Ioannou called Netflix “arrogant” and claimed the company had not checked the legal rights to the name


EasyGroup, the company behind the EasyJet airline, is suing Netflix over its “Easy” comedy series, saying that use of the name breaches its European trademarks. The series, directed by Joe Swanberg, follows a variety of couples in Chicago exploring sex and romance, with stars including actors Orlando Bloom and Emily Ratajkowski. In a statement emailed to CNBC, EasyGroup founder Sir Stelios Haji-Ioannou called Netflix “arrogant” and claimed the company had not checked the legal rights to the name
Netflix is sued by EasyJet founder over TV series ‘Easy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: lucy handley
Keywords: news, cnbc, companies, swanberg, word, easy, series, easyjet, european, easygroup, company, checked, joe, founder, tv, sued, netflix


Netflix is sued by EasyJet founder over TV series 'Easy'

EasyGroup, the company behind the EasyJet airline, is suing Netflix over its “Easy” comedy series, saying that use of the name breaches its European trademarks.

The series, directed by Joe Swanberg, follows a variety of couples in Chicago exploring sex and romance, with stars including actors Orlando Bloom and Emily Ratajkowski.

In a statement emailed to CNBC, EasyGroup founder Sir Stelios Haji-Ioannou called Netflix “arrogant” and claimed the company had not checked the legal rights to the name outside the U.S.

“When Joe Swanberg came up with the name ‘Easy’ for his new TV series a couple of years ago they should have checked with their European lawyers before using it. We own the European trademark in the word ‘easy’ and another 1,000 trademarks with easy as a prefix and we can’t allow people to use it now as a brand name.”


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: lucy handley
Keywords: news, cnbc, companies, swanberg, word, easy, series, easyjet, european, easygroup, company, checked, joe, founder, tv, sued, netflix


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Dow set to drop 100 points at the open as trade worries, Italy fears weigh

U.S. Trade Representative Robert Lighthizer said Tuesday the U.S. was ready to move ahead on a new NAFTA deal without Canada. Stock futures were also under pressure as European shares fell after the Italian government set a budget deficit target that is three times higher than the previous government had planned. The Stoxx 600 index — which track a broad swath of European stocks — fell 0.7 percent while the Italian FTSE MIB index dropped nearly 4 percent. While sources close to the company told


U.S. Trade Representative Robert Lighthizer said Tuesday the U.S. was ready to move ahead on a new NAFTA deal without Canada. Stock futures were also under pressure as European shares fell after the Italian government set a budget deficit target that is three times higher than the previous government had planned. The Stoxx 600 index — which track a broad swath of European stocks — fell 0.7 percent while the Italian FTSE MIB index dropped nearly 4 percent. While sources close to the company told
Dow set to drop 100 points at the open as trade worries, Italy fears weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: fred imbert, alexandra gibbs, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, weigh, drop, fell, stocks, dow, index, shares, nafta, tesla, trade, italy, sued, representative, fears, set, musk, open, worries, points


Dow set to drop 100 points at the open as trade worries, Italy fears weigh

The U.S. and Canada have not yet come to an agreement on trade as a Sept. 30 deadline rapidly approaches. The two countries are trying to come to terms so Canada can join a trade deal struck between the U.S. and Mexico that would replace the current North American Free Trade Agreement (NAFTA), which has been heavily criticized by President Donald Trump.

U.S. Trade Representative Robert Lighthizer said Tuesday the U.S. was ready to move ahead on a new NAFTA deal without Canada.

Trump, meanwhile, said Wednesday he was “very unhappy” with Canada’s negotiation tactics, noting: “We don’t like their representative [Chrystia Freeland] very much.”

Trade has been an overhang for U.S. stocks for most of 2018 as investors try to assess how protectionist policies would impact the global economy and corporate profits.

Stock futures were also under pressure as European shares fell after the Italian government set a budget deficit target that is three times higher than the previous government had planned. The Stoxx 600 index — which track a broad swath of European stocks — fell 0.7 percent while the Italian FTSE MIB index dropped nearly 4 percent. Germany’s Dax also fell 1.4 percent and France’s CAC 40 declined 0.8 percent.

On the data front, personal income, consumer spending and core PCE figures are due out at 8:30 a.m. ET, followed by Chicago purchasing managers’ index data at 9:45 a.m. ET and consumer sentiment at 10 a.m. ET.

In corporate news, Blackberry and Vail Resorts are scheduled to publish earnings.

Meantime, investors will be keeping a close eye on Tesla, after news emerged that its CEO Elon Musk had been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. While sources close to the company told CNBC that the firm was also expecting to be sued, Tesla wasn’t however named as a defendant in the complaint. In premarket trading, Tesla shares were down more than 12 percent and Musk called the SEC’s allegations of fraud as “unjustified.”


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: fred imbert, alexandra gibbs, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, weigh, drop, fell, stocks, dow, index, shares, nafta, tesla, trade, italy, sued, representative, fears, set, musk, open, worries, points


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Elon Musk sued by the cave rescue diver he called a ‘pedo guy’ and ‘child rapist’

Musk shot back at Unsworth on Twitter in mid-July, calling him a “pedo guy,” among other claims. “You know what, don’t bother showing the video,” Musk tweeted. Musk’s False and Defamatory Accusations falsely accused Mr. Unsworth of being a (1) a pedophile ,(2)a child rapist, (3) a child sex-trafficker,(4) the husband of a 12-year old child bride,and (5) a liar. Unsworth is not a child rapist. Unsworth is not married to a 12-year old child.


Musk shot back at Unsworth on Twitter in mid-July, calling him a “pedo guy,” among other claims. “You know what, don’t bother showing the video,” Musk tweeted. Musk’s False and Defamatory Accusations falsely accused Mr. Unsworth of being a (1) a pedophile ,(2)a child rapist, (3) a child sex-trafficker,(4) the husband of a 12-year old child bride,and (5) a liar. Unsworth is not a child rapist. Unsworth is not married to a 12-year old child.
Elon Musk sued by the cave rescue diver he called a ‘pedo guy’ and ‘child rapist’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: sara salinas, michelle castillo
Keywords: news, cnbc, companies, old, musk, saying, sued, team, rescue, 12year, tweeted, unsworth, pedo, pedophile, guy, diver, cave, child, elon, rapist


Elon Musk sued by the cave rescue diver he called a 'pedo guy' and 'child rapist'

Musk and Unsworth have been locked in a heated back-and-forth for weeks, after Unsworth questioned Musk’s efforts to aid in the rescue of a Thai boys soccer team. Musk shot back at Unsworth on Twitter in mid-July, calling him a “pedo guy,” among other claims.

“You know what, don’t bother showing the video,” Musk tweeted. “We will make one of the mini-sub/pod going all the way to Cave 5 no problemo. Sorry pedo guy, you really did ask for it.”

In the lawsuit, Unsworth’s legal team denied all the claims.

116. Musk’s False and Defamatory Accusations falsely accused Mr. Unsworth of being a (1) a pedophile ,(2)a child rapist, (3) a child sex-trafficker,(4) the husband of a 12-year old child bride,and (5) a liar. 117.Mr. Unsworth is not pedophile 118.Mr. Unsworth has never engaged in an act of pedophilia. 119.Mr. Unsworth is not a child rapist. 120.Mr. Unsworth has never raped a child(or anyone else). 121.Mr. Unsworth is not a child sex-trafficker. 122.Mr. Unsworth has never in engaged in an act of child sex-trafficking(or adult sex-trafficking). 123.Mr. Unsworth is not married to a 12-year old child. 124.Mr. Unsworth has never been married to a 12-year old child(or any minor child).

Musk deleted the tweets and tweeted an apology to Unsworth a few days after. However, he resurfaced the controversy in late August, saying it was “strange” that Unsworth had not sued him over the comments. A lawyer for Unsworth had sent a letter to Musk on Aug. 6 asking the CEO to contact him in order to avoid a lawsuit and to correct the alleged false statements.

Musk also responded to a request for comment in regard to a Buzzfeed article on the subject in early September by saying, “I suggest that you call people you know in Thailand, find out what’s actually going on and stop defending child rapists, you f—— a——.” Musk said the email was off the record, but BuzzFeed claimed the publication never agreed to that stipulation.

Tesla and Musk did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: sara salinas, michelle castillo
Keywords: news, cnbc, companies, old, musk, saying, sued, team, rescue, 12year, tweeted, unsworth, pedo, pedophile, guy, diver, cave, child, elon, rapist


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Elon Musk reignites ‘pedo guy’ controversy, says it’s ‘strange’ cave diver hasn’t sued him

Elon Musk has revived the controversy over comments he made in July about a British spelunker involved in the Thai cave rescue mission. The Tesla chief executive said in a tweet late Tuesday that it was “strange” that cave diver Vernon Unsworth had not sued him for calling Unsworth a “pedo guy” on Twitter. The cave diver said shortly after Musk’s remarks in July that he was considering taking legal action against the billionaire. Arguing with a Twitter user who brought up the debacle, Musk repea


Elon Musk has revived the controversy over comments he made in July about a British spelunker involved in the Thai cave rescue mission. The Tesla chief executive said in a tweet late Tuesday that it was “strange” that cave diver Vernon Unsworth had not sued him for calling Unsworth a “pedo guy” on Twitter. The cave diver said shortly after Musk’s remarks in July that he was considering taking legal action against the billionaire. Arguing with a Twitter user who brought up the debacle, Musk repea
Elon Musk reignites ‘pedo guy’ controversy, says it’s ‘strange’ cave diver hasn’t sued him Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-29  Authors: ryan browne
Keywords: news, cnbc, companies, strange, tesla, twitter, musk, guy, diver, legal, sued, reignites, pedo, musks, spacex, cave, controversy, unsworth, elon, submarine


Elon Musk reignites 'pedo guy' controversy, says it's 'strange' cave diver hasn't sued him

Elon Musk has revived the controversy over comments he made in July about a British spelunker involved in the Thai cave rescue mission.

The Tesla chief executive said in a tweet late Tuesday that it was “strange” that cave diver Vernon Unsworth had not sued him for calling Unsworth a “pedo guy” on Twitter.

Unsworth had criticized Musk’s idea to save a now-rescued boys’ soccer team trapped in a cave in Thailand by using a mini-submarine crafted out of a SpaceX Falcon 9 rocket part. The Briton at the time said Musk could “stick his submarine where it hurts.”

The cave diver said shortly after Musk’s remarks in July that he was considering taking legal action against the billionaire. Tesla shares fell more than 3 percent that day.

Musk issued an apology to Unsworth days after he made the baseless accusation that the British explorer was a pedophile. In two posts on Twitter, the Tesla boss said he made the claim in “anger” and that the diver’s criticism of his submarine proposal did not warrant such a retaliation.

But the billionaire entrepreneur on Wednesday doubled down on his claim about Unsworth, questioning why the diver did not proceed with legal action against him.

Musk said that Unsworth had been “offered free legal services.” Arguing with a Twitter user who brought up the debacle, Musk repeatedly questioned why his comments about the diver had not been investigated.

Representatives for Musk’s companies Tesla, SpaceX and The Boring Company were not immediately available for comment.


Company: cnbc, Activity: cnbc, Date: 2018-08-29  Authors: ryan browne
Keywords: news, cnbc, companies, strange, tesla, twitter, musk, guy, diver, legal, sued, reignites, pedo, musks, spacex, cave, controversy, unsworth, elon, submarine


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Barnes & Noble is sued by ex-CEO over termination

The former Barnes & Noble chief executive who was fired last month for alleged policy violations sued the bookseller for breach of contract and defamation in connection with his sudden termination after just 14 months on the job. According to the complaint, Riggio, a major Barnes & Noble shareholder, became hostile toward Parneros after an agreement for a book retailer to take over the company fell through in June. Barnes & Noble’s press release said Parneros’ termination was not the result of d


The former Barnes & Noble chief executive who was fired last month for alleged policy violations sued the bookseller for breach of contract and defamation in connection with his sudden termination after just 14 months on the job. According to the complaint, Riggio, a major Barnes & Noble shareholder, became hostile toward Parneros after an agreement for a book retailer to take over the company fell through in June. Barnes & Noble’s press release said Parneros’ termination was not the result of d
Barnes & Noble is sued by ex-CEO over termination Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-28  Authors: michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, termination, executive, exceo, parneros, sued, chief, violations, complaint, barnes, noble, company, riggio


Barnes & Noble is sued by ex-CEO over termination

The former Barnes & Noble chief executive who was fired last month for alleged policy violations sued the bookseller for breach of contract and defamation in connection with his sudden termination after just 14 months on the job.

In a complaint filed on Tuesday in Manhattan federal court, Demos Parneros accused Barnes & Noble founder Leonard Riggio of engineering his “firing without cause” and announcing it in a July 3 press release that “falsely and irrevocably damaged” his reputation.

Barnes & Noble’s board in a statement called the lawsuit “nothing but an attempt to extort money from the company by a CEO who was terminated for sexual harassment, bullying behavior and other violations of company policies after being in the role for approximately one year.”

Debra Raskin, a lawyer for Parneros, declined to elaborate on the complaint.

The complaint said Riggio had told Parneros a day before the announcement that he would be “fired for cause for violating the sexual harassment policy,” citing his alleged “interactions with an executive assistant and purported mistreatment of Allen Lindstrom,” the company’s chief financial officer.

Parneros said he has not violated company policies, and “always conducted himself in a professional manner.”

According to the complaint, Riggio, a major Barnes & Noble shareholder, became hostile toward Parneros after an agreement for a book retailer to take over the company fell through in June.

The complaint said Riggio stopped returning Parneros’ telephone calls or texts, but continued to meet with other executives and regularly gave them direction.

“There was no suggestion that the failure of the deal was in any respect Parneros’s fault,” the complaint said.

The largest U.S. bookstore chain has been struggling with years of falling sales as Amazon.com Inc and other rivals take away business.

Barnes & Noble’s press release said Parneros’ termination was not the result of disagreement over its financial practices, and that Parneros would not receive severance.

This, Parneros said, prompted speculation about the actual reasons for his dismissal, given how two other recently departed executives had received “millions” in severance.

Parneros said he joined Barnes & Noble as chief operating officer in November 2016, after 28 years at Staples, and became chief executive six months later. He is seeking severance, plus compensatory and punitive damages.

The case is Parneros v Barnes & Noble Inc, U.S. District Court, Southern District of New York, No. 18-07834. of the company.

CNBC’s Anjali Robins contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-08-28  Authors: michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, termination, executive, exceo, parneros, sued, chief, violations, complaint, barnes, noble, company, riggio


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17 states sue Trump administration over family separations

Seventeen states, including Washington, New York and California, sued President Donald Trump’s administration Tuesday in an effort to force officials to reunite migrant families who have been separated at the U.S.-Mexico border. The states, all of which are led by Democratic attorneys general, joined Washington, D.C., in filing the lawsuit in U.S. District Court in Seattle. “Every day, it seems like the administration is issuing new, contradictory policies and relying on new, contradictory justi


Seventeen states, including Washington, New York and California, sued President Donald Trump’s administration Tuesday in an effort to force officials to reunite migrant families who have been separated at the U.S.-Mexico border. The states, all of which are led by Democratic attorneys general, joined Washington, D.C., in filing the lawsuit in U.S. District Court in Seattle. “Every day, it seems like the administration is issuing new, contradictory policies and relying on new, contradictory justi
17 states sue Trump administration over family separations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-26  Authors: john moore, getty images
Keywords: news, cnbc, companies, sue, order, separations, reunite, york, family, separated, 17, trump, sued, children, washington, administration, states, parents


17 states sue Trump administration over family separations

Seventeen states, including Washington, New York and California, sued President Donald Trump’s administration Tuesday in an effort to force officials to reunite migrant families who have been separated at the U.S.-Mexico border.

The states, all of which are led by Democratic attorneys general, joined Washington, D.C., in filing the lawsuit in U.S. District Court in Seattle. It’s the first legal challenge by states over the practice.

“The administration’s practice of separating families is cruel, plain and simple,” New Jersey Attorney General Gurbir Grewal said in an emailed statement. “Every day, it seems like the administration is issuing new, contradictory policies and relying on new, contradictory justifications. But we can’t forget: the lives of real people hang in the balance.”

Immigration authorities have separated about 2,300 children from their parents in recent weeks, sparking global outrage as images and recordings of weeping children emerged. Many parents are in custody thousands of miles from their children, whom they have not been able to see and have rarely spoken to for a month or more.

After falsely blaming Democrats for the separations and insisting that only Congress could fix the issue, the president last week issued an executive order designed to end the practice under his “zero tolerance” policy, which prosecutes adults who come to the U.S. illegally.

But the states say his order is riddled with caveats and fails to reunite parents and children who have already been torn apart. They accuse the administration of denying the parents and children due process; denying the immigrants, many of whom are fleeing gang violence in Central America, their right to seek asylum; and being arbitrary in applying the policy.

A U.S. judge in San Diego already is considering whether to issue a nationwide injunction sought by the American Civil Liberties Union that would order the administration to reunite the separated children with their parents.

A Seattle-based immigrant rights group sued Monday on behalf of detained asylum-seekers in Washington state who have been separated from their children.

The states that sued are Massachusetts, California, Delaware, Iowa, Illinois, Maryland, Minnesota, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, Vermont, Virginia and Washington.


Company: cnbc, Activity: cnbc, Date: 2018-06-26  Authors: john moore, getty images
Keywords: news, cnbc, companies, sue, order, separations, reunite, york, family, separated, 17, trump, sued, children, washington, administration, states, parents


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Kentucky sues Walgreens for its role in the opioid crisis

Kentucky has sued Walgreens for its role in the state’s opioid epidemic. Attorney General Andy Beshear filed the suit against Walgreens for its dual role as a distributor and a pharmacy, saying it allegedly failed to monitor its own operations and shipped and dispensed large amounts of opioids. Beshear said Walgreens flooded Kentucky with opioid prescriptions at its more than 70 locations across the state, “directly contributing to the state’s drug epidemic.” He’s sued three drug distributors, A


Kentucky has sued Walgreens for its role in the state’s opioid epidemic. Attorney General Andy Beshear filed the suit against Walgreens for its dual role as a distributor and a pharmacy, saying it allegedly failed to monitor its own operations and shipped and dispensed large amounts of opioids. Beshear said Walgreens flooded Kentucky with opioid prescriptions at its more than 70 locations across the state, “directly contributing to the state’s drug epidemic.” He’s sued three drug distributors, A
Kentucky sues Walgreens for its role in the opioid crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-14  Authors: angelica lavito, christopher dilts, bloomberg, getty images
Keywords: news, cnbc, companies, walgreens, sues, opioid, states, suit, role, state, drug, sued, crisis, kentucky, allegedly


Kentucky sues Walgreens for its role in the opioid crisis

Kentucky has sued Walgreens for its role in the state’s opioid epidemic.

Attorney General Andy Beshear filed the suit against Walgreens for its dual role as a distributor and a pharmacy, saying it allegedly failed to monitor its own operations and shipped and dispensed large amounts of opioids.

Beshear said Walgreens flooded Kentucky with opioid prescriptions at its more than 70 locations across the state, “directly contributing to the state’s drug epidemic.” The lawsuit alleges “unfair, misleading and deceptive business practices by Walgreens for excessively distributing and dispensing opioids in Kentucky and for failing to legally report to state and federal authorities the suspiciously large orders it received for prescription opioids.”

A spokesman for Walgreens Boots Alliance didn’t immediately respond to CNBC’s request for comment.

This is the sixth opioid-related suit Beshear has filed. He’s sued three drug distributors, AmerisourceBergen, which Walgreens Boots Alliance owns a roughly 26 percent stake in, McKesson and Cardinal Health. He’s also sued pharmaceutical manufacturers, including Johnson & Johnson.

Cities, counties and states around the country are suing companies across the drug supply chain for their alleged roles in the opioid epidemic. They’ve accused manufacturers of downplaying painkillers’ risk of addiction, distributors of allegedly flooding communities with pills and pharmacies for allegedly failing to flag suspicious prescriptions.


Company: cnbc, Activity: cnbc, Date: 2018-06-14  Authors: angelica lavito, christopher dilts, bloomberg, getty images
Keywords: news, cnbc, companies, walgreens, sues, opioid, states, suit, role, state, drug, sued, crisis, kentucky, allegedly


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AT&T CEO wasn’t surprised when US government sued to block Time Warner deal

Randall Stephenson, the CEO of AT&T, said he was not surprised when the federal government sued to stop the company’s attempted acquisition of Time Warner. “We saw it coming,” Stephenson said on Wednesday at the Code Conference in Rancho Palos Verdes, California. In November, the Justice Department filed a lawsuit to block the deal, arguing that it would raise prices for consumers and hurt competition. AT&T is fighting the suit and has resisted suggestions that it sell off some units to win regu


Randall Stephenson, the CEO of AT&T, said he was not surprised when the federal government sued to stop the company’s attempted acquisition of Time Warner. “We saw it coming,” Stephenson said on Wednesday at the Code Conference in Rancho Palos Verdes, California. In November, the Justice Department filed a lawsuit to block the deal, arguing that it would raise prices for consumers and hurt competition. AT&T is fighting the suit and has resisted suggestions that it sell off some units to win regu
AT&T CEO wasn’t surprised when US government sued to block Time Warner deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-30  Authors: matt rosoff
Keywords: news, cnbc, companies, block, deal, content, ads, warner, ceo, win, step, stephenson, sued, wasnt, sell, companies, consumers, surprised, att


AT&T CEO wasn't surprised when US government sued to block Time Warner deal

Randall Stephenson, the CEO of AT&T, said he was not surprised when the federal government sued to stop the company’s attempted acquisition of Time Warner.

“We saw it coming,” Stephenson said on Wednesday at the Code Conference in Rancho Palos Verdes, California. “You go into a transaction like this, you step into it, you hope you never have to litigate but you step into it with the expectation that you may have to litigate.”

Stephenson likened it to buying fire insurance — you don’t want your house to burn down, but you know you have to prepare in case it does.

In November, the Justice Department filed a lawsuit to block the deal, arguing that it would raise prices for consumers and hurt competition. AT&T is fighting the suit and has resisted suggestions that it sell off some units to win regulatory approval. President Trump has lobbied against AT&T’s purchase of Time Warner, which owns CNN, a frequent target of his attacks.

Stephenson said he was pursuing the tie-up because AT&T believes that vertically integrated companies, which own both the content and the pipes through which the content flows, are the only way to win against tech giants like Amazon and Apple.

Media companies who distribute their content through multiple channels, like Time Warner does today, lack a “direct relationship with the customer,” which makes it harder for them to sell premium content and the targeted advertising that marketers have grown to expect from online players.

Stephenson said that by combining distribution and content, a company like AT&T should be able to offer more effective ads, and thereby lower the number of ads it has to show, leading to a better experience for consumers.


Company: cnbc, Activity: cnbc, Date: 2018-05-30  Authors: matt rosoff
Keywords: news, cnbc, companies, block, deal, content, ads, warner, ceo, win, step, stephenson, sued, wasnt, sell, companies, consumers, surprised, att


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