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The dissolved law firm Sedgwick has filed for bankruptcy.

Sedgwick filed a Chapter 11 bankruptcy petition Tuesday in federal bankruptcy court in San Francisco, the American Lawyer reports.

The firm generally estimates its liabilities at up to $50 million and says in a declaration that there are about $32.6 million in claims from the termination of office leases as well as about $9.2 million owed in accounts payable.

The firm had assets of about $1.56 million in cash and recoverable accounts receivable of about $1.5 million, the declaration says.

Continue reading “Sedgwick declares bankruptcy in filing that traces the law firm’s downfall”

Federal Communications Commission chairman Ajit Pai rejected arguments Monday that states should be able to impose their own net neutrality protections after the Trump administration in December withdrew them.

The Trump administration late on Sunday filed suit seeking a preliminary injunction to block California’s state net neutrality law from taking effect in January. The court filing came soon after Governor Jerry Brown signed legislation.

Pai told reporters after an event in Washington the arguments made by states are “completely baseless” and said the internet is “inherently an interstate service… From a legal perspective we’re on very strong ground.”

Continue reading “Trump administration rejects states’ argument on net neutrality”

A divided nation entered a new week still processing and debating a long, harrowing day of testimony before the Senate Judiciary Committee involving Christine Blasey Ford’s allegations of sexual misconduct against U.S. Supreme Court nominee Brett Kavanaugh.

The judiciary committee voted 11-10 along party lines on Friday to advance Kavanaugh’s nomination to the Senate floor, but only after Sen. Jeff Flake, R-Ariz., crafted a one-week delay on the floor vote that would allow the FBI to investigate allegations against Kavanaugh by Ford and at least one other accuser.

“This country is being ripped apart here,” Flake said from the dais of the committee room. “I think we can have a short pause and make sure the FBI can investigate.”

At the hearing, Ford, a research psychologist and professor, detailed her account that Kavanaugh and a friend pushed her into a bedroom at a party in 1982 when both were high school students; got on top of her while both remained clothed; and sexually assaulted her.

“Brett groped me and tried to take off my clothes,” Ford said Thursday. “He had a hard time because he was very inebriated, and because I was wearing a one-piece bathing suit underneath my clothes. I believed he was going to rape me. I tried to yell for help. When I did, Brett put his hand over my mouth to stop me from yelling.”

Continue reading “Kavanaugh hearings leave the country divided”

The U.S. Securities and Exchange Commission accused Tesla Inc (TSLA.O) Chief Executive Elon Musk on Thursday of fraud and sought to remove him from his role in charge of the electric car company, saying he made a series of “false and misleading” tweets about potentially taking Tesla private last month.

In a lawsuit, the regulator described Musk surprising members of his own team and investors with a series of tweets, starting with the Aug. 7 announcement that he was thinking of taking Tesla private. Twelve minutes after the first tweet, Tesla’s head of investor relations texted Musk’s chief of staff to ask whether Musk’s announcement was “legit”, the SEC said.

Musk, 47, is the public face of Tesla and losing him would be a big blow for the money-losing car maker which has a market value of more than $50 billion, chiefly because of investors’ belief in Musk’s leadership.

The Department of Justice, which has the authority to press c

Continue reading “U.S. regulator sues Musk for fraud, seeks to remove him from Tesla”

Walgreens Boots Alliance Inc will pay $34.5 million to settle charges it misled investors about the increased risk that it would miss a key financial goal related to its merger in 2012, the top U.S. securities regulator said on Friday.

The Securities and Exchange Commission said it had also charged former chief executive officer Gregory Wasson and former finance head Wade Miquelon, who agreed to each pay a $160,000 penalty.

The settlement does not involve any current officers or executives, nor does it allege that anyone acted intentionally or recklessly at any time, Walgreens said in a statement.

Continue reading “Walgreens to pay $34.5 million to settle U.S. charges of misleading investors”