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REUTERS/Mario Anzuoni/File Photo
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A week before it is slated to face a trial in federal court over its planned merger with rival Albertsons, Kroger sued the FTC, seeking to block the regulator from reviewing the $25 billion deal in its own in-house tribunal, our colleague Jody Godoy reports.
In February, the FTC asked a U.S. District Court in Oregon to halt the merger pending a full examination of the proposed transaction in an administrative proceeding it filed before an in-house administrative judge, arguing the merger could raise prices for shoppers. In practice, if an injunction is issued and upheld, the parties often agree to abandon their deal.
Kroger’s lawsuit called the tribunal unconstitutional, saying the matter should be resolved in a federal court. It cited two U.S. Supreme Court rulings, including the Jarkesy ruling from last term, which faulted the SEC’s use of in-house judges in enforcement proceedings.
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- The ABA is poised to eliminate references to “race and ethnicity” from its law school diversity and inclusion rules to comply with the U.S. Supreme Court’s 2023 ruling barring colleges from considering race in admissions after its accrediting body voted to solicit public comment on a revised rule.
- The prosecutors who secured Donald Trump’s criminal conviction did not explicitly oppose the former president’s bid to delay his sentencing until after the election. In a letter to New York trial judge Juan Merchan, prosecutors said that Trump had the right to appeal a ruling on whether he was immune from prosecution and deferred to the judge on the delay.
- U.S. law firm Simpson Thacher & Bartlett has been referred to a UK tribunal for discipline over allegations it failed to have proper anti-money laundering policies in place at its London office.
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That’s how much billionaire investor Carl Icahn and Icahn Enterprises have agreed to pay in penalties to settle SEC charges that for years he failed to disclose pledging the majority of the firm’s securities for billions in personal margin loans. The action came more than a year after short-seller Hindenburg Research accused Icahn of running a “Ponzi-like” scheme to pay dividends by overvaluing its holdings and also raised questions about Icahn’s margin borrowing. Icahn said those allegations had sparked the SEC probe, which identified failures to disclose margin loans but did not substantiate the more serious allegations. Hindenburg said it stood by its charges and maintained its short position on the company’s securities.
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On Friday, plaintiffs lawyer Adam Moskowitz won a ruling that pro basketball legend Shaquille O’Neal must face claims that he is liable for selling unregistered securities based on O’Neal’s social media promotion of video-game NFTs. Moskowitz immediately filed notice of the decision in the FTX customers’ sprawling case in Miami, where he is co-lead counsel. Moskowitz told Alison Frankel why he believes the O’Neal decision will help FTX customers defeat a dismissal motion by the celebrities who endorsed the imploded crypto exchange.
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- A hearing is scheduled before U.S. District Judge Peter Messitte in Maryland in the criminal case against Nicholas Roske, a California man who was charged with attempting to kill Brett Kavanaugh after he was arrested near the U.S. Supreme Court justice’s Maryland home, voicing dismay about expected rulings curtailing abortion access and expanding gun rights.
- U.S. Magistrate Judge Moxila Upadhyaya is holding hearings in Washington, D.C., in Dominion Voting Systems’ defamation lawsuits against Rudy Giuliani, Sidney Powell, former Overstock CEO Patrick Byrne and others over claims they falsely accused the voting technology company of tainting the 2020 election.
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Court calendars are subject to last-minute docket changes.
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- U.S. District Judge Reed O’Connor in Texas rejected Media Matters’ request to force Elon Musk’s X to list Tesla as a financially interested party to a case the company filed against the liberal media watchdog group, which could have forced the judge to recuse himself due to his ownership of Tesla stock. O’Connor decried Media Matters’ push as “gamesmanship.”
- Gavin Black, a former Deutsche Bank trader whose conviction for rigging an interest rate benchmark was overturned, has resolved a $30 million lawsuit accusing the German bank of destroying his banking career by falsely implicating him in the scheme, according to a court filing.
- Former U.S. Representative George Santos pleaded guilty to fabricating fundraising figures after prosecutors said he inflated fundraising numbers and faked donor names to qualify for financial and logistical support from the Republican party during the 2022 election cycle.
- Pilgrim’s Pride, one of the largest U.S. poultry processors, agreed to pay $100 million to settle claims it conspired with rivals to underpay chicken farmers, the final and by far the largest settlement in the seven-year-old antitrust case. The deal, which does not require the company to admit wrongdoing, requires approval by U.S. District Judge Robert Shelby.
- Bankrupt Steward Health Care sued its landlord, saying it has impeded Steward’s effort to sell 31 hospitals in an effort to “siphon all value” for itself. Medical Properties Trust has insisted that its real estate is much more valuable than Steward’s hospital operations, and has prevented Steward from successfully selling the hospitals, the lawsuit said.
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