In an increasingly globalized economy, the New York Times’ Dealbook reports that law firms have gained traction (and legal fees) in complex international arbitration. A number of firms have positioned themselves to “catch a rising wave of business” in this behind-the-scenes market. For more, see NYTimes.
Bank of America will walk away empty-handed in its $1.7 billion suit against the Federal Deposit Insurance Commission, as a Washington federal judge dismissed the suit earlier this week. For more, see Bloomberg.
Also from the federal bench, Facebook’s proposed $20 million settlement has been approved. The suit claimed that social media site had failed to adequate protect children’s online privacy through its “Sponsored Story” advertisement features. U.S. District Judge Richard Seeborg (N.D. Cal.) found “significant value” in the settlement, as Facebook will also give users more control over their uploaded content. For more, see Reuters.