Business News Roundup, Feb. 12
The Oakland company is working with Morgan Stanley to meet with potential buyers, said the people, who spoke on condition of anonymity because they were discussing private matters.
Woods is also seeking $10 million in damages in the defamation lawsuit, which revolves around a single offending tweet.
“USATODAY app features Bruce Jenner’s latest dress selection but makes zero mention of Planned Parenthood baby parts market,” Woods wrote, according to a screen shot included in a court filing.
The insults did not stop there, according to the complaint, which says that Abe List also referred to Woods by a vulgar name, as well as describing him as a “joke” and “a ridiculous scum clown-boy” on the social media platform.
Zenefits has been under investigation by the California Department of Insurance since last year, the state agency disclosed, saying the resignation of co-founder and CEO Parker Conrad this week doesn’t resolve compliance issues at the human-resources software startup.
“New technologies and new business models can bring value and convenience to California consumers, but businesses deploying new technologies and new business models must comply with California’s strong consumer protection laws,” Insurance Commissioner Dave Jones said in a statement.
In an e-mail to employees obtained by Bloomberg, Sacks said the company had reported “a serious issue” to the California Department of Insurance involving many of its employees in the state.
Morgan Stanley will pay $3.2 billion to settle with state and federal authorities over the Wall Street firm’s creation of mortgage-backed bonds before the financial crisis.
Nearly a year ago, Morgan Stanley announced that it expected to pay $2.6 billion in the settlement.
[...] though, it was pushed to offer more money, with much of the additional money going to New York state.
The settlement, announced Thursday, is one of the last that is expected to come out of a working group that President Obama helped form in 2012 to deal with the flawed mortgaged-backed bonds that banks put together before the crisis, many times involving subprime mortgages.
Because Morgan Stanley did not originate mortgages itself, its settlement is much smaller than those struck by large consumer banks like Bank of America, which paid $16.6 billion in its 2014 settlement.