David's Feed
Dec 17, 2013

U.S. asks if car dealers ganged up on shopping website TrueCar

WASHINGTON, Dec 17 (Reuters) – It used to be that people in
the market for a new car could go to the car-shopping website
TrueCar.com, which collects bids from auto dealerships, and get
dealers to undercut one another on price. Dealers could see the
rival prices, so prices tumbled lower over time almost like a
reverse-auction.

Faced with complaints from dealers over the way that worked,
TrueCar changed its website, the system became less competitive,
with dealers no longer seeing rival prices, and now U.S.
antitrust enforcers are trying to unravel what happened.

Dec 17, 2013

U.S. judge says phone surveillance program likely unlawful

WASHINGTON (Reuters) – The U.S. government’s gathering of Americans’ phone records is likely unlawful, a judge ruled on Monday, raising “serious doubts” about the value of the National Security Agency’s so-called metadata counter terrorism program.

“I cannot imagine a more ‘indiscriminate’ and ‘arbitrary invasion’ than this systematic and high-tech collection and retention of personal data on virtually every single citizen,” U.S. District Judge Richard Leon, appointed by Republican President George W. Bush in 2002, wrote in a 68-page ruling.

Dec 16, 2013

U.S. judge rules phone surveillance program is likely unlawful

WASHINGTON (Reuters) – The U.S. government’s gathering of Americans’ phone records is likely unlawful, a judge ruled on Monday and ordered the suspension of the collection of data on two phone company customers who sued the Obama administration.

In a significant challenge to U.S. spying authority, U.S. District Judge Richard Leon in Washington D.C. wrote that the government’s program likely violated Americans’ right to be free of unreasonable searches.

Dec 6, 2013

LME wants aluminum warehousing suits heard in New York

LAS VEGAS, Dec 5 (Reuters) – The London Metal Exchange asked
a panel of U.S. judges on Thursday to assign a federal court in
Manhattan to handle a series of antitrust lawsuits that allege
the world’s largest metal exchange, two of Wall Street’s biggest
banks and big commodity merchants conspired to raise the price
of aluminum.

The venue of lawsuits is sometimes critically important
because of the varying levels of experience among judges in
different cities, as well as other factors such as convenience
for lawyers and witnesses.

Dec 4, 2013

EXCLUSIVE: U.S. plans new bank fraud cases in early 2014 – attorney general

WASHINGTON (Reuters) – The U.S. Justice Department plans to bring mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase & Co’s (JPM.N: Quote, Profile, Research) $13 billion settlement, U.S. Attorney General Eric Holder said on Wednesday.

In an interview with Reuters, Holder would not say which companies or how many could face lawsuits but said the Justice Department was in contact with them and it was hard to say whether the talks would lead to settlements.

Dec 4, 2013

Exclusive: U.S. plans new bank fraud cases in early 2014 – attorney general

WASHINGTON (Reuters) – The U.S. Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014, using as a template the case that ended last month in JPMorgan Chase & Co’s (JPM.N: Quote, Profile, Research, Stock Buzz) $13 billion settlement, U.S. Attorney General Eric Holder said on Wednesday.

In an interview with Reuters, Holder would not say which companies or how many could face lawsuits but said the Justice Department was in contact with them and it was hard to say whether the talks would lead to settlements.

Dec 4, 2013

U.S. plans new bank fraud cases in early 2014 -attorney general

WASHINGTON, Dec 4 (Reuters) – The U.S. Justice Department
plans to bring civil mortgage fraud cases against several
financial institutions early in 2014, using as a template the
case that ended last month in JPMorgan Chase & Co’s $13
billion settlement, U.S. Attorney General Eric Holder said on
Wednesday.

In an interview with Reuters, Holder would not say which
companies or how many could face lawsuits but said the Justice
Department was in contact with them and it was hard to say
whether the talks would lead to settlements.

Nov 18, 2013

Lance Armstrong doping suit likely to proceed, U.S. judge says

WASHINGTON (Reuters) – A federal judge said on Monday he likely will allow a lawsuit to move forward accusing cyclist Lance Armstrong and his business partners of defrauding the U.S. Postal Service of endorsement money through Armstrong’s use of performance-enhancing drugs.

U.S. District Judge Robert Wilkins said at a court hearing in Washington that he planned to rule in writing within 30 days on requests by Armstrong and the other defendants to dismiss the suit.

Nov 15, 2013

U.S. ban on guns that escape metal detectors set to expire

WASHINGTON (Reuters) – A 25-year-old U.S. ban on any firearms that can escape discovery by a metal detector is scheduled to expire next month, just as law enforcement officials say they are closely watching the proliferation of plastic guns made with 3D printers.

Attorney General Eric Holder said on Friday that if the 1988 Undetectable Firearms Act is allowed to end, plastic guns made with the fast-evolving 3D printing technology could be smuggled more easily.

Nov 13, 2013

Google warns of ‘splinter net’ fallout from U.S. spying

WASHINGTON (Reuters) – Search giant Google Inc on Wednesday warned that U.S. spying operations risk fracturing the open Internet into a “splinter net” that could hurt American business.

In the first public testimony before Congress by a major technology company since former National Security Agency contractor Edward Snowden disclosed top secret surveillance programs, Google said it should be allowed to provide the public more information about government demands for user data.