Herbalife Ltd. (HLF), the vitamin maker accused by hedge fund manager Bill Ackman of being a pyramid scheme, said it will offer $1 billion in convertible senior notes and use some of the money to repurchase common shares. The initial buyers of the notes, due in 2019, will be Bank […]
Tag: Morgan Stanley
In wake of JPMorgan settlement, big banks add to defense funds
Several large U.S. banks have set aside extra money to pay for potential legal costs in part because of JPMorgan Chase & Co’s massive $13 billion settlement with U.S. authorities over bad mortgages, according to two sources familiar with the situation. The size of the JPMorgan settlement, which the government […]
Banks face new probe over mortgage bond trades post 2008: WSJ
Federal regulators are probing whether several big banks deliberately mispriced mortgage bonds in the years following the financial crisis, the Wall Street Journal reported, citing people close to the inquiry. The new investigation is a potential blow to the banks as they have already paid billions of dollars in penalties […]
