Microsoft (MSFT) Responds to Decision in Customer Data Warrant Case Jul 31, 2014 01:55PM

Microsoft (NASDAQ: MSFT) Executive Vice President and General Counsel Brad Smith provided the following response to a federal court ruling in New York on Thursday in the company’s ongoing case challenging a U.S. government warrant for customer data stored in Dublin, Ireland:

“The only issue that was certain this morning was that the District Court’s decision would not represent the final step in this process. We will appeal promptly and continue to advocate that people’s email deserves strong privacy protection in the U.S. and around the world.”


UPDATE: Bank of America (BAC) Near Mortgage Deal with US on New Offer - Bloomberg Jul 30, 2014 01:57PM

(Updated - July 30, 2014 1:57 PM EDT)

Bank of America (NYSE: BAC) is nearing a mortgage deal with the U.S. after increasing its offer, according to reports from Bloomberg. The two sides are meeting today for discussions, with a possible announcement this week. The deal relates to a DOJ probe into pre-crisis mortgage-backed bond sales. The settlement under discussion ranges from $13-$17 billion, a source told Bloomberg.


Ocean Power Technologies (OPTT) Says Some or All of Victoria, Aus., Project Statements Shouldn't Be Relied Upon Jul 29, 2014 05:19PM

On June 9, 2014, the Board of Directors of Ocean Power Technologies (Nasdaq: OPTT), meeting in executive session, formed a Special Committee to conduct an internal investigation into the commercial agreement between Victorian Wave Partners Pty Ltd (“VWP”), an indirect consolidated subsidiary of the Company, and the Australian Renewable Energy Agency (“ARENA”) concerning a proposed wave power demonstration project off the coast of Victoria, Australia (the “Project”) and related public statements regarding the Project. The Special Committee retained the law firm of Reed Smith LLP (“Reed Smith”) to assist in the investigation. The Special Committee has received a report from Reed Smith presenting some initial findings from the investigation to date.

In consideration of the report from Reed Smith, and in consultation with management, the Special Committee has determined that investors should not rely on some prior public statements from the Company concerning the Project, including statements concerning the ability to provide the expected energy outputs described in the Project and associated statements concerning the economic competitiveness of the cost of electricity from the larger utility-scale PowerBuoys (PB150 and PB500) that were proposed for the project.

The Company has determined that none of its historical audited financial statements needs to be restated as a result of the issues that are the subject of the Special Committee investigation.


Trina Solar Ltd. (TSL) Comments on, Opposes Prelim. Commerce Dept. Anti-Dumping Findings Jul 29, 2014 09:34AM

Trina Solar Ltd. (NYSE: TSL) notes the preliminary findings on July 25, 2014 by the U.S. Department of Commerce relating to the antidumping duty investigations concerning imports into the United States of certain crystalline silicon photovoltaic products from mainland China and Taiwan. Trina Solar is one of the China-based suppliers of these products to the United States.

The U.S. Department of Commerce preliminarily determined that certain crystalline silicon photovoltaic products from mainland China and Taiwan have been sold in the United States at dumping margins ranging from 26.33% to 58.87% and from 27.59% to 44.18%, respectively. Trina Solar was a compulsory respondent to the China investigation in which it received a preliminary dumping margin of 26.33%, the lowest among the Chinese exporters.

Trina Solar opposes the preliminary findings and believes the allegations made by SolarWorld are contrary to the principles of free and fair trade and are unfounded. The Company continues to actively defend its position in these administrative proceedings and remains committed to serving its many customers and business partners in the United States where Trina Solar has built a solid and long-standing reputation for high quality products and services. Trina Solar believes that because of its competitive cost structure, in house manufacturing capacities, global strategies, strong brand image and quality products and global strategies, it will continue to grow its business in the United States and to play an important role in the U.S. market.


General Motors (GM): 'Old GM' Has Only $24.7M for Claims of $31.9B - Bloomberg Jul 28, 2014 03:18PM

General Motors (NYSE: GM): 'Old GM' Has Only $24.7M for Claims of $31.9B - Bloomberg


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