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November 4, 2014

In The News Today – November 4, 2014

J.P. Morgan says it may lose as much as $5.9 billion “related to litigation in excess of its legal reserves.” That litigation includes a Justice Department investigation, and possible settlement, into the company’s foreign exchange activities. That number is $1.3 billion more than the company reported three months earlier. (Wall Street Journal)

The Department of Justice announced that Hyundai Motor Co. and Kia Motors Corp. will pay a reported $100 million to settle claims “they sold more than 1 million vehicles that emit much greater quantities of greenhouse gases than what they had certified to the U.S. Environmental Protection Agency.” This would be the largest penalty ever levied under the Clean Air Act. (Law360)

Just 196 of the estimated 20,000 retired NFL players opted out of a proposed concussion settlement with the NFL, according to federal court filings. Players had until October 14th to opt out. An estimated 3,600 players “would be compensated over the settlement’s 65 years, and 2,300 more would be eligible for monetary awards but wouldn’t participate.” (Los Angeles Times)

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