Exactly what did Simpson Thacher & Bartlett partner Lynn Neuner know about the e-mails she disclosed in 2007 to New York Attorney General Andrew Cuomo on behalf of her then-client Steven Rattner? According to an explosive front-page story in The New York Times, that's an issue in the AG's escalating case against the financier.

For all the sound and fury the case generated, the $150 million settlement Judge Rakoff reluctantly approved this week doesn't clarify corporate disclosure requirements at all. The bank still says there was nothing wrong with its disclosures, the SEC still provides no guidance to M&A advisers--and American shareholders are still the big losers.

On July 20 a group of Spanish funds won a $2.6 million arbitration award that cost nearly $15 million in unawarded fees, and may well be vacated by a Swedish court. Good investment? Hell yes, from the viewpoint of the oligarchs who used to control Yukos Oil Company, and fronted the fees.

American Airlines and US Airways are pushing back hard against the U.S. Department of Justice, filing court papers blasting the government’s bid to block their pending $11 billion merger.