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Michael Cohen. Photo: Win McNamee/Getty Images

Michael Cohen is suing the Trump Organization for "failure to meet its indemnification obligations" by not paying his legal fees.

Details: The lawsuit claims that around July 2017, the Trump Organization and Cohen entered into an agreement under which the company would pay for Cohen's representation and defense for various investigations. The organization confirmed its commitment to the deal through at least May 2018, even after Cohen came under heightened investigative scrutiny. In June 2018, shortly after Cohen began telling friends he was willing to cooperate with the Mueller investigation, the suit alleges the organization ceased to pay his law firm's invoices "without notice or justification," causing the firm to withdraw its representation of Cohen.

  • "As of January 25, 2019, unreimbursed attorneys' fees and costs incurred on behalf of Mr. Cohen in connection with the Matters subject to his indemnification agreement with the Trump Organization exceeded $1.9 million. Attorneys fees and costs subject to the Trump Organization's indemnification agreement continue to accrue."

Go deeper

Coinbase opens trading at $102 billion valuation

Illustration: Sarah Grillo/Axios

Cryptocurrency exchange Coinbase opened trading on Wednesday at $381 per share, giving it a fully diluted market value of around $102 billion.

Why it matters: This is a slight premium to the most recent private trades for Coinbase stock, and more than 50% higher than the reference price set last night by the Nasdaq.

33 mins ago - World

U.S. intelligence expects a stormy year in the Middle East

A technical team explodes remnant ammunition near Sirte, Libya. Photo: Mohammed Ertima/Anadolu Agency via Getty

Ongoing conflicts, economic crises and the fallout from COVID-19 will likely destabilize several countries in the Middle East in 2021 and could even put some on the brink of collapse, according to the U.S. intelligence community's annual Threat Assessment Report, released on Tuesday.

Why it matters: The report is the most comprehensive assessment the intelligence community produces every year. It paints a portrait of conflicts, insurgencies, terrorism and protest movements across the Middle East.

Updated 35 mins ago - Politics & Policy

Officer Kim Potter arrested, charged with manslaughter in Daunte Wright's death

Photo: Bruce Bisping/Star Tribune via Getty Images

Kim Potter, the former police officer who fatally shot Daunte Wright outside Minneapolis on Sunday, was arrested and charged by Washington County Pete Orput with second-degree manslaughter on Wednesday.

Why it matters: The shooting of the 20-year-old Black man in Brooklyn Center, Minn., just ten miles from where George Floyd was killed by a Minneapolis police officer last year, has reinvigorated Black Lives Matter protests and led to three consecutive nights of unrest.