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News
October 31, 2014

In The News Today – October 31, 2014

Increased legal costs, including “rapidly-evolving regulatory inquiries and investigations” – namely a foreign currency “manipulation” investigation – is causing some of America’s largest banks to cut earnings projections. (NY Times)

Whirlpool this week won a “rare gamble of taking a class action to trial”, after a federal jury rejected claims brought by about 150,000 Ohio consumers that said 20 different front-loading washer brands have an alleged defect that causes a “moldy smell” problem. The company claimed victory after it had refused to settle, following two U.S. Supreme Court rulings that refused to overturn lower court rulings allowing lawyers to “sue on behalf of millions of consumers.” (Forbes)

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