Wake Up Call: McDermott Named in Hedge Fund’s $52 Million Suit

In today’s column, the University of California system reached a proposed $73 million settlement of sex abuse allegations against a UCLA gynecologist; SEC Chairman Jay Clayton says he plans to step down at year’s end; a Florida lawyer was arrested for allegedly extorting a former New York Giants football player.

• Leading off, billionaire Chris Rokos, who founded an eponymous U.K. hedge fund, is suing McDermott Will & Emory and accounting giant Deloitte after a 39.4 million pounds ($52 million) tax break he was expecting got thrown out by U.K. authorities. Rokos says the firms should have warned him that his ...