Expert regs

Massachusetts plans to regulate hedge funds’ use of so-called expert networks, which are at the center of the federal government’s insider-trading probe. It will be the first state to implement such a rule.

Wells hit

Wells Fargo shares fell 4.1 percent after the bank posted a decline in reve nue. Net income rose 50.5 percent, but gains were driven mainly by setting aside less money to cover bad loans.

BP suit

BP sued rig owner Transocean for at least $40 billion in damages, accusing it of causing last year’s deadly blowout that led to the worst offshore oil spill in US history.

Home sales

Existing home sales in March rose 3.7 percent from February to an an nual rate of 5.10 million units, the National Asso ciation of Realtors said.

AGs huddling

Attorneys general ne gotiating the settlement of a nationwide foreclo sure investigation have yet to approach banks with a proposed dollar amount to fund principal reductions for borrow ers, a state official told Bloomberg News.