By Jonathan Stempel (Reuters) – A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked…
By Jonathan Stempel (Reuters) – Abbott Laboratories persuaded a federal judge to dismiss some claims in nationwide litigation over recalled baby formula. In a decision on Monday, U.S. District Judge Matthew Kennelly in Chicago dismissed claims by parents pursuing only “economic loss” claims related to Similac and other formula that they said had a “substantial…
(Reuters) -Activist investor TCS Capital Management on Tuesday urged Yelp Inc to either explore a sale or a merger with online-services company Angi Inc, sending shares of the service-recommendation site 10% higher in premarket trading. Yelp is “shockingly undervalued” and could be sold for more than twice its share price, said TCS Capital, one of…
By Svea Herbst-Bayliss NEW YORK (Reuters) – One of Diversified Healthcare Trust’s (DHC) largest shareholders is opposing the real estate investment trust’s merger with Office Properties Income Trust (OPI), saying the deal undervalues the REIT by 90% and there are better alternatives to an all-share deal. Flat Footed LLC, which holds a 7.4% stake, said…
CHICAGO (Reuters) – The judge who will decide if Amgen can go forward with its $27.8 billion purchase of Horizon Therapeutics on Tuesday said he was considering an evidentiary hearing on the matter in September. Judge John Kness said he would likely take about four weeks after the hearing ends to make a ruling. The…
(Refile to change “customer” to “consumer services” in last paragraph) By Chibuike Oguh NEW YORK (Reuters) -Private equity firm GTCR LLC has raised its largest fund ever, collecting $11.5 billion from investors to acquire companies that span the technology, healthcare, financial and consumer services sectors, it told Reuters on Tuesday. The milestone defies fundraising challenges…
By Clara Denina and Helen Reid LONDON (Reuters) – Mining firms lag far behind other sectors on female representation in top leadership, data released on Tuesday showed. S&P Global Commodity Insights’ figures highlight the industry’s struggle to improve gender equity, with women filling just 12.1% of the highest-ranking executive positions across more than 2,000 publicly-listed…
By Huw Jones LONDON (Reuters) -International securities watchdog IOSCO unveiled on Tuesday the first global approach to regulating cryptoasset and digital markets, drawing on lessons from last year’s collapse of the FTX exchange that fuelled concerns over consumer protection. The industry, which typically only has to comply with anti-money laundering checks, has been calling for…
(Reuters) -Moscow said on Tuesday it had routed and killed scores of “Ukrainian nationalists” who crossed into Russia from Ukraine after two days of combat, in what appeared to be one of the biggest incursions of its kind of the 15-month-old war. There was no immediate independent confirmation that the fighting had ended, but the…
By Blake Brittain (Reuters) -Johnson & Johnson has settled its lawsuit over Amgen Inc’s proposed biosimilar version of J&J’s top-selling treatment Stelara for psoriasis and other autoimmune conditions, according to a filing in Delaware federal court. Amgen said in a statement on Tuesday that the settlement terms are confidential, but it will allow the company…
