A mechanical engineer recently fired by Ford Motor Co. is reportedly at the center of a federal investigation for allegedly planting listening devices around the company's headquarters to monitor meetings, raising concerns the devices had been planted to steal trade secrets.
A former Vanguard Group Inc. in-house attorney and ex-Sullivan & Cromwell LLP associate has hit the investment manager with a False Claims Act suit in New York state court alleging it illegally evaded more than $1 billion in federal and state taxes over the past decade, the plaintiff's attorney said Friday.
The U.S. Securities and Exchange Commission has dropped its probe of Facebook Inc., and will not bring an enforcement action over issues around the company’s $16 billion initial public offering, the social media giant said on Thursday in a regulatory filing.
A New York federal judge on Friday signed off on a settlement to end Aeropostale Inc.'s lawsuit claiming H&M Hennes & Mauritz AB stole the trademark-protected phrase "Live Love Dream" from its retail rival.
Lloyds Banking Group PLC said Friday that it is close to reaching a settlement with regulators to end an investigation into its alleged role in manipulating a benchmark rate that measures how much banks charge one another to borrow money.
Citigroup Inc. unit LavaFlow Inc., a leading alternative trading platform, agreed Friday to pay $5 million to settle U.S. Securities and Exchange Commission charges of failing to protect confidential trading data, marking the latest action regulators have taken against off-exchange trading venues.
Rupert Murdoch's 21st Century Fox Inc. said Friday it would unload its stakes in German and Italian pay-TV assets to British Sky Broadcasting Group PLC in a deal worth $9.3 billion, a move that will likely help Fox in its high-profile hunt for Time Warner Inc.
BNP Paribas SA and two affiliates have agreed to pay $80 million to settle the federal government’s False Claims Act suit over a scheme to fraudulently obtain government financing for international shipments under a U.S. Department of Agriculture credit program, according a Texas federal court order filed Thursday.
Troubles worsened within Portugal’s Espirito Santo banking empire Thursday when prosecutors arrested the former chief executive of Banco Espirito Santo in a money-laundering and tax-evasion probe and a third company in the group sought court protection from creditors.
A New York federal judge on Thursday upheld the convictions of five former Bernard L. Madoff Investment Securities LLC employees accused of aiding the Ponzi scheme but sharply criticized prosecutors for making “derogatory generalizations” in closing arguments to the jury.
A resolution that would authorize the U.S. House of Representatives to sue President Barack Obama over the delay of the Affordable Care Act’s employer mandate moved one step closer to a vote Thursday, when the House Rules Committee approved it for full House review.
General Motors Co. expects to set aside at least $400 million for its compensation fund for death and injury victims of accidents arising from faulty ignition switches, the automaker disclosed in its second-quarter earnings report Thursday.
Barclays PLC asked a state judge Thursday to toss New York Attorney General Eric T. Schneiderman's claims the firm tried to increase the market share of its dark pool by lying to clients and investors, saying not only did it not commit fraud but that the attorney general has no regulatory authority to bring his claims.
The U.S. Securities and Exchange Commission on Thursday said it settled claims against three Morgan Stanley entities accused of misleading investors in a pair of residential mortgage-backed securitizations that were the last subprime deals the firms underwrote, sponsored and sold.
Novartis AG unit Sandoz Inc. announced Thursday that the U.S. Food and Drug Administration is reviewing its request to market a biosimilar version of Amgen Inc.'s Neupogen, a milestone that marks the first publicly disclosed application along an Affordable Care Act approval pathway.
Bank of America Corp. agreed to a more than $16.5 million settlement with the U.S. Department of the Treasury's sanctions enforcement unit over allegations that the bank processed around 200 transactions for known drug traffickers subject to U.S. sanctions, the Treasury said Thursday.
The U.S. Securities and Exchange Commission has denied an award to a would-be tipster who sought to collect a portion of the $18 million paid to the agency after its landmark enforcement action last year against Harbinger Capital Partners LLC and its chief executive Philip Falcone, according to newly released documents.
Power giant Energy Future Holdings Corp. said Wednesday it is scrapping its prearranged restructuring deal and needs time to develop a new Chapter 11 plan, and asked a Delaware bankruptcy judge to extend its exclusivity periods by six months.
A Texas judge is expected to award Energy Transfer Partners LP more than $500 million after the company won a jury finding that Enterprise Products Partners LP had breached a partnership agreement to build a crude oil pipeline, sources say.
A New York federal judge on Wednesday tossed a shareholder derivative action claiming JPMorgan Chase & Co. leaders knew Bernard Madoff was engaged in fraud but turned a blind eye to preserve its lucrative profits from Madoff-related business, finding it didn't plead particularized facts.
These days, jurors and judges are so accustomed to seeing graphics — on the street, on the Web, on their smartphones — that they expect to see something good in the courtroom. The best graphics are composed of consequential information, clearly displayed, with emphasis on what matters most, paired with artwork that adds meaning. This simultaneously compels people to think, feel and make decisions, says Aaron Stienstra, design direc... (continued)
United Technologies Corporation's global settlement with the U.S. Departments of State and Justice underscores the importance of a robust compliance program to prevent, detect and remediate any violations of export control laws or regulations — especially if products and services are destined for China, say Jeffrey Gerrish and Soo-Mi Rhee of Skadden Arps Slate Meagher & Flom LLP.
Following the U.S. Supreme Court's treatment of the machine-or-transformation test in Mayo Collaborative Services Inc. v. Prometheus Laboratories Inc., the test — previously thought to be the governing test for patent eligibility under § 101 — no longer appears to occupy such a prominent role in patent-eligibility jurisprudence, says William Merkel of Marshall Gerstein & Borun LLP.
“This is an easy case,” Justice Antonin Scalia wrote in his opinion in Radlax Gateway Hotel LLC v. Amalgamated Bank, settling the issue of whether the Bankruptcy Code grants the secured creditor a right to credit bid in an auction sale under a plan. But interestingly, the opinion barely mentions the infamous Philadelphia News decision from the Third Circuit which was effectively overruled by the U.S. Supreme Court, say attorneys wi... (continued)
While the New York state Senate did not act on the Foreclosure Fraud Prevention Act of 2012 before adjourning its regular session — and as a result there is little chance the bill will be enacted this year — the bill represents the latest attempt by state governments to impose criminal liability on fraudulent foreclosure practices by mortgage servicers or their employees, say attorneys with Dechert LLP.
In United States v. Aleynikov, the Second Circuit recently created an unfortunate cloud over the scope of the federal trade secret statute. The decision detracts from the primary legislative objectives to promote and protect national economic security and punish individuals who misappropriate intellectual property in the form of trade secrets, say Mark Krotoski and Richard Scott of the U.S. Department of Justice.
Although the Patient Protection and Affordable Care Act and its coverage mandates have been upheld, the lack of regulatory guidance for many key areas of the statute creates uncertainty regarding implementation and enforcement. No matter how employers and plan fiduciaries approach the various coverage mandates, it is clear that the future is not without risk of litigation, say attorneys with Proskauer Rose LLP.
The Northern District of California's opinion in Oracle America Inc. v. Google Inc. is suprising given that there was direct copying and that the threshold of originality required for a work to qualify as copyrightable has traditionally been so low that the application programming interfaces almost certainly qualified as sufficiently original to be protected by copyright, says David Makman of the Law Offices of David A. Makman.
The Committee on Foreign Investment in the United States recently blocked yet another acquisition involving Chinese investors. Any foreign companies looking to invest in the U.S. should be wary of the scrutiny they may confront, and determine whether CFIUS review is likely, say George Wang and Yelena Kotlarsky of Haynes and Boone LLP.
ING Bank NV's $619 million fine to settle criminal charges is the largest ever against a financial institution in connection with an investigation into U.S. sanctions violations and related offenses. The enforcement action is also notable in several other respects, say attorneys with Steptoe & Johnson LLP.