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Exact(11)
Half of the settlement will go to the state, with the remainder divided among bond issuers.
Half of the settlement will go to the state, with the remainder divided among other bond issuers.
If the deal is approved, approximately half of the settlement amount will be paid over the next three years, with the balance issued over the next 17 years.
The state is keeping half of the settlement money and distributing the rest to counties and cities based on their populations.
Mr. Reiss called the amount that Sotheby's has agreed to pay "extraordinary," adding that the auction house's half of the settlement exceeds the $22 million he estimates were the damages to its customers.
The team has welcomed archaeologists from all over the world, but public access to a site yards from the giant crater of the working quarry – which probably swallowed the other half of the settlement – is regarded as impossible, and the excavation will be reburied to preserve any underlying archaeology.
Similar(49)
A decade ago, more than half of the settlements included cash payments to shareholders of the companies being acquired, while only a few 10 percent required companies to make additional disclosures before a shareholder vote.
Sotheby's had already approved its half of the $512 million settlement.
Forty-eight hours earlier, Sotheby's disclosed that its board approved its half of the $512 million settlement.
Homeowners in two states — Florida and California — will reap more than half of the $26 billion settlement, a reflection of the disproportionate number of loans that are delinquent or exceed the value of the underlying property there, government regulators said.
The watchdog group Better Markets estimates that as much as half of this settlement will be tax deductible - meaning that taxpayers will once again foot the bill for Goldman Sachs fraud.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com