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BUSINESS
August 31, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Salomon Bros., in deep legal trouble over government securities trading, has taken a prominent Wall Street law firm off the case and is looking for new lawyers to represent it, a spokesman said Friday. The firm, Wachtell, Lipton, Rosen & Katz, had been representing Salomon on the matter since early July, when it was asked to conduct an internal investigation of possible wrongdoing by the securities firm in Treasury auctions.
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BUSINESS
August 25, 2011 | Bloomberg News
AOL Inc., which is struggling to halt a sales slide, said Thursday that it retained investment bank Allen & Co. and law firm Wachtell, Lipton, Rosen & Katz as advisors. Its stock jumped. Graham James, a spokesman for New York-based AOL, confirmed the hiring of the firms but declined to comment further. AOL has posted losses of almost $800 million in less than two years as a stand-alone company as it has struggled to make money from online advertising and its profitable dial-up Internet business has become increasingly obsolete.
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BUSINESS
August 25, 2011 | Bloomberg News
AOL Inc., which is struggling to halt a sales slide, said Thursday that it retained investment bank Allen & Co. and law firm Wachtell, Lipton, Rosen & Katz as advisors. Its stock jumped. Graham James, a spokesman for New York-based AOL, confirmed the hiring of the firms but declined to comment further. AOL has posted losses of almost $800 million in less than two years as a stand-alone company as it has struggled to make money from online advertising and its profitable dial-up Internet business has become increasingly obsolete.
BUSINESS
August 31, 1991 | SCOT J. PALTROW, TIMES STAFF WRITER
Salomon Bros., in deep legal trouble over government securities trading, has taken a prominent Wall Street law firm off the case and is looking for new lawyers to represent it, a spokesman said Friday. The firm, Wachtell, Lipton, Rosen & Katz, had been representing Salomon on the matter since early July, when it was asked to conduct an internal investigation of possible wrongdoing by the securities firm in Treasury auctions.
BUSINESS
August 14, 1991 | DONNA WALTERS
Attorney Henry Lesser, a mergers and acquisitions specialist, has joined the Century City firm of Irell & Manella as a partner. The addition of Lesser to the firm is somewhat of an anomaly in today's harsher legal climate. Bankruptcies and environmental law have replaced merger and acquisition work as the hot legal specialties; even law firms that cut staff overall have been beefing up those areas.
BUSINESS
December 30, 2003 | From Bloomberg News
Lawyers for Martha Stewart, who goes on trial next month on charges of obstructing justice and securities fraud, must turn over their billing records to federal prosecutors, a New York judge ruled Monday. The stock-fraud count against Stewart is based on statements she made to news organizations about her sale of ImClone Systems Inc. shares. Prosecutors say her statements were intended to prop up stock in her company, Martha Stewart Living Omnimedia Inc. Stewart has defended herself in part by saying that anything she said publicly about her innocence was based on legal advice and thus wasn't an attempt to defraud investors.
NEWS
January 23, 1987 | Associated Press
A former partner in a top Wall Street law firm was sentenced today to a year and a day in prison for his part in the Dennis Levine insider trading scandal. Despite pleas for leniency by Ilan K. Reich and his lawyer, U.S. District Judge Robert W. Sweet said he had to sentence Reich to prison because he was "a symbol of the sickness of our society." Reich, 32, of Manhattan, pleaded guilty last October to one count each of securities fraud and mail fraud.
BUSINESS
July 29, 1986 | Associated Press
A former clerical worker at a prominent New York law firm was sentenced to six months in prison Monday for illegal insider trading and for lying about his activities to the Securities and Exchange Commission. Manohar Lal Madan, 51, pleaded guilty last November to five counts of conspiracy, mail fraud, securities fraud and perjury. Madan was a word-processor operator at the firm of Wachtell, Lipton, Rosen & Katz from 1976 to 1982.
BUSINESS
May 19, 1997 | From Bloomberg News
U.S. cigarette makers and industry opponents resolved the crucial issue of limiting the amount smokers could collect from tobacco companies in lawsuits to $4 billion a year, paving the way for a possible landmark agreement within two weeks, according to six people in the talks. The two sides agreed that any of the $4 billion not paid to smokers who win lawsuits would go toward efforts to curb smoking, including anti-smoking classes, the participants said.
BUSINESS
August 17, 1987 | NANCY YOSHIHARA, Times Staff Writer
Manpower, which rejected an unsolicited $1.2-billion takeover bid over the weekend, is seeking to acquire a major company in the temporary employment business in an effort to remain independent, Manpower's president said Sunday. Executives of the company, the world's largest temporary help firm, met Sunday at their Milwaukee headquarters to seek alternatives to the $75-a-share acquisition offer made by Blue Arrow, a much-smaller British concern.
BUSINESS
August 23, 1985 | Associated Press
SCM Corp. stock continued a rally Thursday, climbing further above a $60-a-share takeover bid by Hanson Trust PLC amid speculation that a better offer would emerge. Hanson, a diversified British company, announced its $720-million cash offer for SCM on Wednesday, and SCM said Thursday that it was studying the bid. In response to the offer, SCM stock shot up $8 on Wednesday to close at $63 a share. On Thursday, SCM rose another $1.125 a share to $64.125 in heavy trading.
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