Department of Justice: According to The New York Times, the Justice Department is not prosecuting companies with the zeal it once had. In fact, Justice now prefers to impose a deferred prosecution agreement, which can include fining a company and appointing a monitor. The Times reports that the DOJ has put off prosecuting more than 50 suspected companies in the last three years.
The Donald: Donald Trump is suing a New York law firm for $3 million, claiming that Morrison Cohen overcharged him.
Asbestos Settlement: W.R. Grace & Co. settled its asbestos claims for around $2.5 billion. David Bernick of Kirkland & Ellis led the representation for Grace.
Capital Infusion: Washington Mutual gave the cold shoulder to J.P. Morgan Chase, which offered to takeover the struggling company for $8 a share. Instead, WaMu received $7 billion in capital from TPG, a private equity group.
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