Under Investigation: International Monetary Fund Managing Director Christine Lagarde is under formal investigation for her role in an arbitration case during her time as French finance minister, Bloomberg reports. In 2008, she let a dispute between Bernard Tapie, a businessman and supporter of then President Nicolas Sarkozy, and former state-owned bank Credit Lyonnais end via arbitration. She faces a “rarely used” minor charge of negligence in the use of public funds in the criminal case.
Latham Gets the Gold: A daring and novel argument by Latham & Watkins on behalf of the London Metal Exchange Ltd. paid off when U.S. District Judge Katherine Forrest in Manhattan ruled that the entity is an “organ” of the U.K. government, and therefore is shielded by sovereign immunity, the AmLaw Litigation Daily reports.
