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Bloomberg Law: Judge Withdraws Pharma Opinion After Lawyer Flags Made-Up Quotes
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A New Jersey U.S. district court judge withdrew his decision in a biopharma securities case Wednesday after lawyers complained that his opinion contained numerous errors, including made-up quotes and misstated case outcomes, Bloomberg Law reported. READ MORE
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Predatory Uptiering: Three Steps to Protect Against Being Primed
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 | | Editor's Picks |
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Pro Bull Riding League Files Objection of Dr. Phil’s Media Bankruptcy, Saying It Is Owed $181 Million
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Professional Bull Riders, the largest bull-riding league in the world, has filed an objection to the bankruptcy proceedings of Dr. Phil McGraw’s media network, claiming it is owed $181 million, the Independent reported. READ MORE
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Abuse Survivors Fund for Syracuse Catholic Diocese Grows to $176 Million
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The fund for survivors of sexual abuse in the Roman Catholic Diocese of Syracuse has grown to $176.1 million, officials said, Syracuse.com reported. The fund got another $15.1 million after two insurance companies recently reached settlement agreements, according to Robert Kugler, the lead lawyer for the diocese’s creditors. (Subscription required.) READ MORE
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Trade Wars, Rates Push U.S. Small Farm Bankruptcies to 5-Year High
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After years of low crop prices and rising costs, America’s small farmers are facing a crisis brought on by higher interest rates, Trump’s trade war and dramatically reduced demand from China, Bloomberg News reported. In the first half of the year, small-business bankruptcies filed by farmers and fishermen hit the highest number since 2020, which was the tail end of a similar cycle of low prices. Farm debt is expected to hit $561.8 billion in this year, a record high, according to the U.S. Department of Agriculture. (Subscription required.) READ MORE
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Mergers and Acquisitions Series: Key Considerations in the Current Market
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abiLIVE Webinar sponsored by SC&H Capital
July 24
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 | | Daily Roundup |
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Former Utica Township Fire Department Files for Bankruptcy
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The former Utica Township Fire Department that was run by Jamey Noel filed for bankruptcy on Tuesday, WDRB.com reported. Utica Township Fire Department, incorporated in southern Indiana, filed for chapter 11 bankruptcy. Former Clark County Sheriff Jamey Noel led New Chapel EMS and the Utica Township Fire Department. Noel is currently serving a 12-year prison sentence for misusing the department's funds and stealing millions from taxpayers through years of fraud and misconduct READ MORE
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Edison Utility Company Creates Fund for Eaton Fire Victims
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Southern California Edison on Wednesday announced a wildfire compensation program for victims of January’s deadly Eaton fire in the Los Angeles area, the New York Times reported. California officials have not concluded that the fire, which killed 17 people and destroyed more than 9,400 buildings in Altadena, was set by the utility company’s equipment, and Edison has not accepted responsibility for it. But by setting up the fund before an official cause is identified, Edison appears to be suggesting that it will be found responsible for igniting the blaze. READ MORE
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Energy Dept. Cancels Loan Commitment to Contested Transmission Project
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The Energy Department on Wednesday said it had terminated a commitment to provide a $4.9 billion loan guarantee to a company building a contentious transmission line across the Midwest, the New York Times reported. The cancellation may imperil the $11 billion project, known as Grain Belt Express, which would cross 800 miles of farmland and is designed to carry electricity generated by wind farms in Kansas to population centers in Illinois and Indiana. READ MORE
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