GM Troubles: Plaintiffs lawyers claiming to represent hundreds of auto accident victims are skeptical of General Motors’ internal report conducted by Jenner & Block chairman Anton Valukas, which concluded that top officials were unaware of the defect and blamed the problems on incompetence by many of its employees, The National Law Journal reports. Also, GM chief Mary Barra will testify today before the House Energy and Commerce Committee.The Detroit Free Press has details.
A Bad Day: Former McKinsey & Co. chief and Goldman Sachs Group Inc. director Rajat Gupta on Tuesday reported to a federal prison in New England to begin serving a two-year sentence for his role in the insider trading ring headed up by Galleon Group hedge fund founder Raj Rajaratnam. Meanwhile, the U.S. Court of Appeals for the Second Circuit denied Gupta’s request to overturn a nearly $14 million civil penalty levied by the U.S. Securities and Exchange Commission in a related civil case, The Am Law Litigation Daily reports.
