PRESS DIGEST - Wall Street Journal - July 21
July 21 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* House Financial Services Committee Republicans are mounting fresh criticism of the 2010 Dodd-Frank financial law in a report to be released Monday, contending that it failed to end the prospect of future government bailouts for large, complex financial firms and exacerbated the belief that some of the firms are "too big to fail." (on.wsj.com/1rhrtuV)
* Trading firms and employees raised concerns about high-speed traders at Barclays Plc's dark pool months before the New York attorney general alleged in June that the firm lied to clients about the extent of predatory trading activity on the electronic trading venue, according to people familiar with the firms. (on.wsj.com/1tocIWT)
* Elliott Management Corp has taken a stake of more than $1 billion in EMC Corp and plans to push the data-storage giant to break itself apart, according to people familiar with the matter. Elliott will seek to convince EMC that the company's lagging stock would receive a substantial boost if it were to spin off VMware Inc a pioneer in computer-server software, these people said. (on.wsj.com/1sCyN6t)
* One of Allergan Inc's top shareholders has sold nearly all of its holdings in the stock, leaving the Botox maker without the support of a large and long-term investor as it tries to stave off a $53 billion hostile takeover by Valeant Pharmaceuticals International Inc and activist William Ackman. (on.wsj.com/WoipsK) Continued...