Reynolds's Feed
Mar 25, 2014
via Breakingviews

Activists crash dealmaker party

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Activists are crashing the dealmaker party. Shareholder lawsuits, cross-border mergers and defender-in-chief Marty Lipton will play supporting roles at the annual New Orleans confab for M&A attorneys and bankers. Aggressive investors shaking dozy boards are this year’s headliners. Their increasing presence at the gathering reinforces a growing power.

Mar 25, 2014
via Breakingviews

Activists crash dealmaker party

Photo

By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Activists are crashing the dealmaker party. Shareholder lawsuits, cross-border mergers and defender-in-chief Marty Lipton will play supporting roles at the annual New Orleans confab for M&A attorneys and bankers. Aggressive investors shaking dozy boards are this year’s headliners. Their increasing presence at the gathering reinforces a growing power.

Nov 26, 2013
via Breakingviews

U.S. trustbusting would make a great monopoly

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

America’s two federal trustbusting agencies would make a great monopoly. The U.S. Justice Department is beating the pants off its rival, the Federal Trade Commission, with pushback on headline-grabbing deals. The FTC has meanwhile scored big points protecting consumers. Leaving antitrust to DoJ would reduce costs and make both agencies more effective.

Nov 1, 2013
via Breakingviews

Twitter may grow fat and happy on low-patent diet

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By Reynolds Holding

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Twitter could grow fat and happy on its low-patent diet. The social network, which is due to go public in the next few weeks, has an incredibly slim portfolio of intellectual property. Its nine patents may leave Twitter vulnerable to lawsuits and light on proven assets. But a policy of allowing engineers some control over their inventions speeds innovation, lures top talent and cuts legal costs.

Oct 23, 2013
via Breakingviews

Big U.S. bank fines far more art than science

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The biggest U.S. bank fines involve far more art than science. In theory there are defined, if loose, legal criteria for penalties. But enormous settlements – like the possible $13 billion bite out of JPMorgan – can seem pulled from thin air. While courts occasionally run the rule over the numbers, regulators’ zeal and public outrage outweigh the logic.

Oct 1, 2013
via Breakingviews

Goldman and JPMorgan get one job split right

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By Reynolds Holding
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Goldman Sachs and JPMorgan have managed to get at least one job split right. Neither bank will cleave the chairman and chief executive roles, but they’ve figured out that allowing the general counsel to also run regulatory compliance invites trouble. Interpreting the rules and ensuring they’re followed too often conflict. Rival financial institutions – and companies in other industries, too – should follow suit.

Oct 1, 2013

Activision investors may lose even in victory

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Reynolds Holding

NEW YORK, Oct 1 (Reuters Breakingviews) – Activision
Blizzard (ATVI.O: Quote, Profile, Research) investors may lose even in victory. The
videogame maker’s minority owners convinced a judge to block an
$8.2 billion plan to buy out Vivendi (VIV.PA: Quote, Profile, Research), potentially
derailing a sensible transaction in the process. Activision is
appealing and on Monday filed to put the matter to a shareholder
vote. In the end, it will probably have to pay more to clinch
the deal. Some fights for shareholder rights can be costly.

Sep 24, 2013

Breakingviews- BofA trial could cut crisis accountability deficit

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Reynolds Holding

NEW YORK, Sept 24 (Reuters Breakingviews) – Bank of
America’s (BAC.N: Quote, Profile, Research) mortgage fraud trial could provide some
financial crisis accountability. The bank, like its peers, has
paid hefty settlements without admitting fault. Now it must
answer to a U.S. jury for selling Fannie Mae (FNMA.OB: Quote, Profile, Research) and
Freddie Mac (FMCC.OB: Quote, Profile, Research) dodgy loans. BofA could beat the charges,
but it may finally have to come clean about its Countrywide
unit’s role in the 2008 meltdown.

Sep 11, 2013

Countrywide legal escape aided by investor apathy

By Reynolds Holding

NEW YORK, Sept 11 (Reuters Breakingviews) – A U.S. court
says shareholders lost the right to sue on the mortgage lender’s
behalf after it was sold to BofA. That squelches one way to hold
the likes of ex-CEO Mozilo to account. And it’s a reminder to
litigious stock owners to cover all their bases sooner rather
than later.

Full view will be published shortly.

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Aug 21, 2013

Wall Street enforcers stretch law to hide sloth

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Reynolds Holding

NEW YORK, Aug 21 (Reuters Breakingviews) – Wall Street’s
enforcers are stretching the law to hide their own sloth. U.S.
Attorney General Eric Holder is already late with plans to crack
down. His prosecutors are trying to buy time by suing Bank of
America (BAC.N: Quote, Profile, Research) and other financial firms under a statute meant
to protect the companies from fraud. But that creates legal
uncertainty. If the watchdogs were serious about avenging the
2008 economic meltdown, they could have pounced sooner.

    • About Reynolds

      "Reynolds Holding is a Breakingviews columnist who writes from New York about the law in conjunction with Reuters Legal. Before joining Breakingviews, he was a national editorial producer for the Law & Justice Unit at ABC News, a senior writer for Time magazine and the executive editor of Legal Affairs, the first general interest magazine about the law. He spent more than a decade as an investigative reporter and columnist for The San Francisco Chronicle, where he was named a Pulitzer Prize finalist for explanatory writing. Before becoming a journalist, he practiced corporate law at the New York firm of ..."
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