Reuters: Regulatory News: PRESS DIGEST - Wall Street Journal - May 14

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PRESS DIGEST - Wall Street Journal - May 14 May 14th 2012, 07:08 Mon May 14, 2012 3:08am EDT May 14 (Reuters) - The following were the top stories in The Wall Street Journal on Monday. Reuters has not verified these stories and does not vouch for their accuracy. * JPMorgan's Jamie Dimon faced increasing pressure after the trading blunder that cost the bank over $2 billion. Three high-ranking executives are expected to leave. * Dewey partners in the office of the chairman explain why the firm is unable to survive and how they have been working with lenders in recent weeks. * How many executives have been convicted of criminal wrongdoing related to the tumultuous events of 2008-2009? The Justice Department doesn't know the answer. * Hedge-fund manager Philip Falcone's LightSquared venture is preparing for a potential bankruptcy-protection filing, as negotiations with lenders falter. * Chesapeake Energy is expecting activist investor Carl Icahn to disclose soon that he has taken a significant stake in the embattled natural-gas company, according to people familiar with the matter. * Facebook, Groupon and Zynga have been snapping up companies at a record pace, lifting start-up valuations and hopes for technology entrepreneurs looking to cash out. * Lawyers for former Goldman Sachs Group Inc director Rajat Gupta, who is facing a criminal trial on insider trading charges, urged the court late Friday evening to bar from evidence three wiretapped conversations that federal prosecutors said were crucial to their case.

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