Category: Uncategorized

The U.S. college admissions scandal that erupted this week has triggered private litigation accusing rich, well-connected parents of buying spots for their children at prestigious schools, and keeping children of less wealthy parents out.

A $500 billion civil lawsuit filed by a parent on Wednesday in San Francisco accused 45 defendants of defrauding and inflicting emotional distress on everyone whose “rights to a fair chance at entrance to college” were stolen through their alleged conspiracy.

Continue reading “U.S. college admissions scandal sparks $500 billion lawsuit”

Paul Manafort, the former campaign chairman for U.S. President Donald Trump, has been indicted in New York on residential mortgage fraud and other charges, as state lawmakers move to insulate the case from a possible presidential pardon.

The indictment was announced by Manhattan District Attorney Cyrus Vance on Wednesday, less than an hour after a federal judge sentenced Manafort to about 3-1/2 extra years in prison on charges stemming from Special Counsel Robert Mueller’s probe into possible Russian interference in the 2016 U.S. elections.

Continue reading “Ex-Trump aide Manafort charged with mortgage fraud in New York”

The U.S. Securities and Exchange Commission is launching a review of the main set of rules governing stock trading, opening the door to the biggest potential changes in a decade-and-a-half, the head of the agency said on Friday.

The possible changes are aimed at making it easier to trade illiquid stocks, making more trading information available to investors, and improving the speed and quality of public data feeds needed for trading.

The SEC in 2005 adopted a broad framework called Regulation National Market System that was largely aimed at ensuring retail investors get the best price possible and preventing trades from being executed at prices that are inferior to bids and offers displayed on other trading venues.

Continue reading “U.S. SEC to review stock trading rules in big potential shakeup”

The U.S. women’s national soccer team sued the U.S. Soccer Federation on Friday with allegations of gender discrimination just three months before they open their World Cup title defense in France.

All 28 members of the United States squad were named as plaintiffs in federal court in Los Angeles on International Women’s Day and includes complaints about wages and nearly every other aspect of their working conditions.

The players, a group that also includes stars Megan Rapinoe, Carli Lloyd and Alex Morgan, said they have been consistently paid less money than their male counterparts even though their performance has been superior to the men’s team.

Continue reading “World champion U.S. women’s soccer players sue federation for gender discrimination”

U.S. President Donald Trump said on Friday his former personal lawyer, Michael Cohen, who has since turned against him and pleaded guilty to multiple crimes, had asked him directly for a pardon but was rejected.

“Bad lawyer and fraudster Michael Cohen said under sworn testimony that he never asked for a Pardon. His lawyers totally contradicted him. He lied!,” Trump tweeted. “Additionally, he directly asked me for a pardon. I said NO.”

Continue reading “Trump says ex-lawyer Cohen asked him for a pardon, but he declined”