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In April, the Department of Labor finalized rules for financial advisors handling retirement accounts, requiring, for the first time, that broker-dealers and financial advisors act in the best interests of their clients. Choosing suitable investments will no longer be enough; there's now a fiduciary duty to "put the customer first."

So, how are firms preparing for the change? With lawyers. Lots of lawyers. (And a bit of retraining on the side.)

The fallout from Wells Fargo's fake account scandal continued this week, as California suspended its business relationships with the bank and former employers filed two class actions lawsuits, alleging that they were illegally fired for abiding by the law and not opening fake accounts in consumers names.

Earlier this month, Wells Fargo agreed to pay $185 million in fines after it was revealed that the banks employees had created millions of fake accounts in order to meet internal cross-selling goals. Additionally, Wells Fargo's CEO John Stumpf forfeited $41 million in unvested stock awards. But, as this week's developments have shown, the aftermath is far from over.

Fox wants to keep its executives from streaming over to Netflix, and it's calling on its lawyers to help it out. 21st Century Fox sued Netflix in Los Angeles Superior Court last Friday, accusing the online video streaming company of engaging in a "brazen campaign to unlawfully target, recruit, and poach valuable Fox executives."

Such a lawsuit is unusual in the entertainment industry, the Los Angeles Times notes, where back-and-forth hiring of executive talent is common. But Fox thinks the lawsuit is worth it, saying that Netflix "is defiantly flouting the law by soliciting and inducing employees to break their contracts."

Multinational companies aren't putting much faith in the "Privacy Shield" agreement between the United States and the European Union, a recent survey of privacy professionals shows. Barely a third of surveyed businesses plan on using the agreement, which makes it easier to for companies to transfer personal information on European citizens outside the EU. The Privacy Shield agreement was meant to replace a previous data sharing agreement, known as Safe Harbor, which was struck down last October, in part because U.S. companies could not protect European data from NSA snooping.

But the alternative to the Privacy Shield isn't too great either. Instead of relying on the Privacy Shield agreement, most companies have turned to model contract clauses -- clauses that many expect to be invalidated by the European Court of Justice, the Wall Street Journal reports.

For years, employees at Wells Fargo crushed sales targets and pulled down bonuses by opening millions of fake accounts on behalf of the bank's real customers, all without those customers' knowledge or consent. Those fake banking and credit card accounts would then wrack up fees which customers would be stuck with. In total, more than 2 million fake accounts could have been created, according to Wells Fargo's own analysis.

The massive fraud was made public today, when the Consumer Financial Protection Bureau announced it was fining the bank $100 million, its largest fine ever. And that's just the start. Wells Fargo has also agreed to pay $35 million to the Office of the Comptroller of the Currency, and $50 million to Los Angeles, for a total of $185 million in fines. The company will also payout "full restitution to all victims," on top of the fines.

The SEC engineered the perfect seed for future whistleblowers this week: a $22 million award for a Monsanto executive who reported improper accounting at the genetic engineering and pesticides agrocorp. The award is the second largest ever doled out by the agency.

Monsanto agreed to settle for $80 million in February, after the SEC was told that the company's accounting practices for its Roundup herbicides were being used to overstate earnings.

Hotels Accuse Expedia, Orbitz of Deceit, 'Bait and Switch'

A small hotel has brought a suit against travel company Expedia alleging that it used underhanded tactics in order to siphon booking business to its partner hotels instead.

The case is currently in the courts being reviewed for class action certification. Causes of action include false advertising, unfair competition and -- of course -- "bait and switch" business tactics.

Univision, the Spanish-language broadcast company, won the auction to buy Gawker Media yesterday, for an offer of $135 million. Univision will take over Gawker after outbidding the digital media company Ziff Davis, by $45 million, according to the Los Angeles Times.

Gawker Media, whose network of websites pioneered the gossipy, confessional medium of blogging, declared bankruptcy last month, after the former professional wrestler Hulk Hogan won a $140 million invasion of privacy lawsuit against them. The sale should be approved by a bankruptcy judge sometime this week.

Verizon to Buy Yahoo! for $4.8 Billion

Netscape, Yahoo, Google. Each of these names were iconic during their times -- some of them still are.

But Yahoo's time as a stand-alone company is finished. This new development was announced this week. Now, with $4.83B less in its coffers, Verizon is walking away with the spoils of acquisition war: Yahoo's one-billion monthly subscribers.

It took jurors less than an hour of deliberations to find Michael Coscia guilty of illegal "spoofing" and commodities fraud last November. Coscia was the first person convicted under the Dodd-Frank Act's anti-spoofing laws, for making $1.4 million off a bait-and-switch scheme.

His prosecution was widely watched and the ease the jury had in convicting him was taken as a sign of greater prosecutions to come. Last week, a little over eight months since his conviction, Coscia was sentenced to three years in federal prison and two years of supervised release.