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Even after massively diluting its stock, MoviePass’ parent company could issue billions of more shares, and there’s little investors can do about it

“But that reverse split didn’t affect the number of shares Helios and Matheson could issue under the plan approved by shareholders” writes Troy Wolverton for businessinsider.com. If it did that, it would more than triple its current share count of 637 million shares.Then in July, the company filed another S-3, which gave it authorization to issue shares totaling as much as $1.2 billion — in addition to the ones it already had authorization to issue.The company immediately took advantage of that authorization and gave investors one new share of its…

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A Trump-appointed judge supported Mueller’s authority in the special counsel’s case against a Russian consulting company

“By investigating and prosecuting Concord, the Special Counsel did not exceed his authority,” Friedrich wrote in her opinion” writes Susan Heavey for businessinsider.com. Friedrich ruled that US Supreme Court and circuit court rulings made clear Rosenstein did have statutory authority to bring in Mueller.Judge Dabney Friedrich, in an opinion filed in the US District court for the District of Columbia, rejected Concord Management and Consulting LLC’s argument that Mueller was unlawfully appointed and lacked prosecutorial authority.WASHINGTON (Reuters) – A US judge on Monday refused to dismiss charges against a Russian…

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Easy on the Nordic oysters: Bacteria flourishing in warmer fjord waters

“It can take months for raw oysters to be safe again as the water needs to cool,” the authority’s seafood safety head Lise Rokkone told Reuters” writes Midwest Communications Inc for 95kqds.com. OSLO (Reuters) – The southern Nordic fjords are heating up as Europe boils, and bacteria there are flourishing, infecting swimmers and seafood, including oysters that can take months until they are safe to eat again, Norway’s food safety authority said.The warm waters in southern Norway and Sweden have accelerated the reproduction of the vibrio bacteria, a species that…

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Orrin Hatch threatens curb on Trump trade authority: Wall Street Journal

“Orrin Hatch, the seven-term Utah Republican who heads the Senate Finance Committee, reportedly sent a letter to the White House this week warning President Trump against a continued pursuit of import tariffs that many observers see setting the stage for a full-fledged trade war” writes Managing Editor for marketwatch.com. According to a Wall Street Journal exclusive, the letter from the reliable Trump ally, who in January announced his retirement, suggests he’d throw his weight behind legislation to rein in presidential trade-policy authority unless Trump changes course. Source: marketwatch.com Share This:

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Crypto News Platforms Regulators 

Blockchain-Based Trade Finance Platform to Launch…

“The Hong Kong Monetary Authority is poised to become one of the earliest government-backed financial institutions to launch a blockchain-based trade finance platform” reports livebitcoinnews.com. Do you think that the Hong Kong Monetary Authority is setting the tone for a widespread adoption of blockchain-based technology?. It is set to introduce the first government-backed trade finance platform based on the blockchain.The new trade finance platform is set to introduce a range of inherent benefits tied to the DLT. One of the core aspects of it is consistent and undeniable access to…

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News Regulators 

The Senate on Thursday confirmed Paul Ney in a 70-23 vote to be the new general counsel for the Defense Department.

“Ney, of Tennessee, had last served as chief deputy attorney general of his state and was a top attorney for the Navy” reports washingtonexaminer.com. Lindsey Graham, R-S.C., about whether Trump has the authority to launch a preemptive strike on North Korea. Source: washingtonexaminer.com Share This:

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Brett Kavanaugh’s Confirmation Would be a Gift to Big Business

“Wade decision that legalized abortion nationwide, he has demonstrated an unequivocal skepticism about federal regulation of business” writes Ronald Brownstein for theatlantic.com. For all the uncertainty over Brett Kavanaugh’s views on abortion, the real key to his legal—and political—impact on the Supreme Court could eventually be his demonstrated resistance to the federal regulation of business.Kavanaugh’s repeated votes as an appellate-court judge to overturn federal regulatory actions point toward a Court even more adamantly tilted than it is today against environmental, consumer-protection, and financial-reform rules. Source: theatlantic.com Share This:

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Chief Justice John Roberts upholds Trump’s travel ban and makes Trump’s legal foes look silly

“Writing for the 5-4 majority, Chief Justice John Roberts noted that Trump has the broad executive authority to impose his ban to further specific national security interests” writes Ap Photo Rogelio for washingtonexaminer.com. Moreover, Roberts explains that the plaintiffs argument renders ludicrous existing legal judgments over presidential power in relation to national security. Source: washingtonexaminer.com Share This:

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The government’s top ethics official said Trump’s business deals ‘raise serious concerns’ — but he doesn’t have the authority to investigate

“Associated Press/Evan Vucci The acting director of the Office of Government Ethics said some of President Donald Trump’s business deals “raise serious concerns,” but the agency lacks the authority to investigate, The Washington Post reported” writes Ellen Cranley for businessinsider.com. But he said the president is exempt from the conflict-of-interest laws that govern other federal employees’ business deals.”Under the Constitution, the primary authority to oversee the President’s ethics rests with Congress and ultimately, with the American people,” he wrote. Source: businessinsider.com Share This:

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