Category: Law

3 Stocks That Are Ridiculously Cheap Right Now

With the market steadily pushing above and beyond its all-time highs, it’s becoming increasingly difficult to find stocks with compelling valuations. With this in mind, we asked three of our contributors which stocks they think are still bargains that might be worth buying right now.

PENCE: ‘The Obamacare nightmare is about to end!’

Vice President Mike Pence delivered a strong endorsement Saturday morning of the GOP’s replacement bill for the Affordable Care Act, which was introduced earlier in the week by House Republican leadership and supported by President Donald Trump. Pence, who spoke to constitutents in Kentucky, highlighted some of the pitfalls of Obamacare, including rising premiums and a lack of carrier options.

How healthy are you? GOP bill would help employers find out

A bill in Congress could make it harder for workers to keep employers from getting access to their personal medical and genetic information and raise the financial penalties for those who opt out of workplace wellness programs. House Republicans are proposing legislation aimed at making it easier for companies to gather genetic data from workers and their families, including their children, when they collect it as part of a voluntary wellness program.

Caterpillar Tax Probe Gathers Steam

For Jim Umpleby, who took charge as Caterpillar’s chief executive little more than two months ago, an escalating criminal investigation threatens to upstage the heavy-machinery maker’s efforts to regain footing in global construction and mining markets. The manufacturing giant has faced several investigations in recent years into whether it is paying enough U.S. taxes.

Bitcoin Plummets 18% as SEC Rejects Winklevoss ETF Proposal

Bitcoin’s price plummeted after U.S. regulators rejected a proposal by the Winklevoss twins for a publicly traded fund based on the digital currency, dashing hopes that a government-approved investment vehicle would lead to wider interest in virtual money. The Securities and Exchange Commission refused to grant an exemption that would have let the Winklevoss Bitcoin Trust trade on the Bats BZX Exchange, according to a filing posted Friday on the regulator’s website.

Biotech Stock Mailbag: Puma’s Rebound Explained, TG Therapeutics Approval Debate, Aurinia Next Steps

This week’s Biotech Stock Mailbag will address some current controversies and burning questions in our little corner of the investment world. Why the hell is Puma Biotechnology trading higher after the successful readout of Roche’s “APHINITY’ study of Perjeta in adjuvant breast cancer? What are the arguments for and against TG Therapeutics securing approval for ublituximab in high-risk chronic lymphocytic leukemia ? Did Aurinia Pharmaceuticals make a change to the primary endpoint of its phase III study of voclosporin in lupus nephritis? Are regulators okay with it? The March 2 announcement by Roche that Perjeta met the primary endpoint in the APHINITY study caused Puma shares to fall from $38 to an intraday low of $29.

Trump SEC Pick Made Millions Representing Banks and Hedge Funds

President Donald Trump’s pick to lead the Securities and Exchange Commission has earned $7.62 million since 2015 representing some of Wall Street’s biggest firms, including Goldman Sachs Group Inc. and Bill Ackman’s Pershing Square Capital Management, according to a federal disclosure form. Jay Clayton, the Sullivan & Cromwell partner tapped by Trump, outlined his clients — and his potential conflicts — in a filing to the U.S. Office of Government Ethics that he signed in January.

Trump Set to Roll Back Federal Fuel-Economy Requirements

In this Jan. 18, 2017, file photo, Environmental Protection Agency Administrator-designate, Oklahoma Attorney General Scott Pruitt testifies on Capitol Hill in Washington at his confirmation hearing before the Senate Environment and Public … Works Committee. On inauguration eve, five law professors filed a brief in support of a 2015 regulation giving EPA and the Army Corps of Engineers discretion to regulate tributaries and wetlands far upstream from navigable lakes and rivers to protect water quality.

Pharma, Bank Stocks Pull Wall St Lower

U.S. stock prices closed lower on Tuesday as weakness in drug and financial shares sent the S&P 500 and the Dow Jones Industrial Average to their first consecutive sessions of declines in more than a month. Pharmaceutical stocks came under pressure after U.S. President Donald Trump tweeted he was working on a “new system” to reduce drug prices in the industry, without providing details.

Wall St Pares Losses as Techs Offset Pharma Decline

President Donald Trump gestures as he arrives on Capitol Hill in Washington, Tuesday, Feb. 28, 2017, for his address to a joint session of Congress. U.S. stocks pared losses late Tuesday morning as a decline in drug stocks, triggered by President Donald Trump’s tweet about lowering drug prices, was countered by gains in technology shares.

Trump Sends Pharma Stocks Down With New Tweet on Drug Prices

President Donald Trump jumped back into the debate over drug pricing on Tuesday, sending pharmaceutical stocks down again with a tweet promising to lower medicine costs for American people. In a tweet shortly before 9 a.m. New York time, Trump said he’s working on a “new system where there will be competition in the drug industry.”

House GOP Finally Puts Out Repeal Plan

House Speaker Paul Ryan, R-Wis., plans to send the bill to the House floor for a vote and then forward it to the Senate by the beginning of April. Employers would no longer face a tax for offering high-value “Cadillac” health plans under the latest House Republican plan to repeal and replace Obamacare.

Republicans Unveil Bill to Repeal and Replace Obamacare

Republicans unveiled their long-awaited legislation to repeal and replace the Affordable Care Act, taking them a step closer to fulfilling a vow they’ve been repeating since the health law’s passage in 2010. Called the American Health Care Act, House Republicans’ proposal released Monday would unwind much of Obamacare over the next three years.

M&A Litigation Moves Away from Delaware

Patterns of merger litigation have changed significantly in response to developments in Delaware law, four scholars find in a recent paper . Lawyers for stockholder plaintiffs have filed fewer fiduciary duty cases in Delaware since Chancellor Andre Bouchard essentially barred disclosure-only settlements last year in in a case arising from the sale of Trulia to Zillow , instead opting to file such matters in the courts or other states or bring securities law cases in federal court.

Caterpillar Sued by a Shareholder After Federal Raid

Caterpillar Inc was sued on Friday for allegedly deceiving shareholders about its business, one day after federal law enforcers raided three of its buildings in connection with a probe into the heavy machinery manufacturer’s offshore tax practices. In a complaint filed in Chicago federal court, Jacob Newman accused Caterpillar of defrauding him and other shareholders in regulatory filings by touting its commitment to good ethics, while concealing how it “unlawfully used foreign subsidiaries” to avoid paying billions of dollars of U.S. taxes.

FCC chair wants carriers to block robocalls from spoofed numbers

Blocking robocalls from spoofed numbers may soon become easier, as the Federal Communications Commission is preparing to give carriers authority to take more aggressive action against this type of scam call. The FCC in 2015 made it clear that voice service providers can offer call blocking tools to customers, but commissioners said at the time that more needed to be done about Caller ID spoofing.

Yahoo Reveals Details of Breaches

Following an independent committee investigation into a series of major security breaches affecting more than 1 billion user accounts, Yahoo CEO Marissa Mayer will lose out on a cash bonus and an equity award reportedly worth around $14 million. The committee’s findings, outlined in a company filing yesterday with the Securities and Exchange Commission , also prompted the resignation of Yahoo general counsel and secretary Ronald Bell.

EPA Withdraws Obama-Era Request for Data On Oil, Natural Gas

The Environmental Protection Agency said Thursday it is withdrawing an Obama-era request that oil and natural gas companies provide information on methane emissions at oil and gas operations. EPA Administrator Scott Pruitt said the withdrawal is effective immediately, adding that he wants to assess the need for the information the agency has been collecting under a directive issued in November.

Yahoo Reveals New Details of Major 2013-2016 Security Breaches

We just wanted to let you know that our site content is, of course, available to you absolutely free of charge. Our ads are the only way we have to be able to bring you the latest high-quality content, which is written by professional journalists, with the help of editors, graphic designers, and our site production and I.T. staff, as well as many other talented people who work around the clock for this site.

Yahoo Reveals Details of Breaches

We just wanted to let you know that our site content is, of course, available to you absolutely free of charge. Our ads are the only way we have to be able to bring you the latest high-quality content, which is written by professional journalists, with the help of editors, graphic designers, and our site production and I.T. staff, as well as many other talented people who work around the clock for this site.

Mystery Traders Said to Make Millions Illegally on Fortress Deal

Unknown traders made more than $3.6 million in illegal profits by investing in shares and derivatives ahead of Softbank Group Corp.’s announcement last month that it would buy Fortress Investment Group LLC, according to U.S. regulators. The traders are believed to be overseas investors who used accounts outside the U.S., the Securities and Exchange Commission said in a court filing.

SEC Advisory Committee to Question Snap’s Transparency

An investor committee that advises the U.S. Securities and Exchange Commission will examine if the Snap Inc.’s decision to deny shareholders voting rights will reduce Snap’s public revelations regarding executive pay and governance affairs, the head of the committee told Reuters Wednesday evening. The review is expected sometime next week.

Trump wants to cut $54 billion in spending from domestic…

Trump wants to cut $54 billion in spending from domestic agencies – that’s enough to wipe several of them out On Monday, administration officials told various news outlets that President Trump’s forthcoming budget proposal will include a $54 billion increase in defense spending. To pay for it, the Trump administration plans to cut the budgets of domestic agencies including the Environmental Protection Agency, the State Department, and various foreign aid programs.

Trump wants to cut $54 billion in spending from domestic…

Trump wants to cut $54 billion in spending from domestic agencies – that’s enough to wipe several of them out On Monday, administration officials told various news outlets that President Trump’s forthcoming budget proposal will include a $54 billion increase in defense spending. To pay for it, the Trump administration plans to cut the budgets of domestic agencies including the Environmental Protection Agency, the State Department, and various foreign aid programs.

Stock plunges, trading halted in owner of Kay and Jared jewelry chains after Post report

The parent company of Sterling Jewelers, which owns Jared the Galleria of Jewelry and Kay Jewelers, halted trading in its stock Tuesday after shares plunged to a four-year low. The Washington Post reported on Monday evening that about 250 former employees allege in sworn statements that the company’s chief executive and other leaders fostered a culture of rampant sexual harassment and discrimination.

Trump Tells Health Insurers to Expect `Something Special’

President Donald Trump told major U.S. health insurers at a White House meeting Monday to expect “something special” to replace Obamacare, as the administration gets more involved in Republican efforts to repeal the health-care law. “We’re going to be talking about it tomorrow night during the speech,” Trump said, referring to his address to a joint session of Congress scheduled for Tuesday.

Verizon Cuts $350M from Yahoo Price

While Verizon is moving ahead with its plan to take over core parts of Yahoo’s business, the company has cut a new deal that lowers the price and has Yahoo shouldering more responsibility for any fallout from several large security breaches. Expected to close in the second quarter of this year, the Verizon acquisition of Yahoo is now priced at $4.48 billion — $350 million less than when the purchase was first announced in July.