Banking Law360 provides breaking legal news and analysis on the banking sector. Coverage includes high-stakes litigation involving banks, as well as federal, state, and international policy developments and corporate deals.
To cope with the uncertainty inherent in the U.S. Securities and Exchange Commission's complicated fair fund distribution process, respondents can take six actions that will reduce the organizational burden and ultimately shave time, maybe even years, off the distribution timeline, says Alan Friedman of Charles River Associates.
The jury should take “huge care” when assessing the Serious Fraud Office’s case against five former traders for alleged Euribor rigging, one of the defendants’ lawyers said Tuesday during her closing, arguing the agency has given a “misleading” and unbalanced picture.
A California federal judge ruled Friday that Oakland can proceed with trimmed allegations that Wells Fargo steered minorities to pricey subprime loans that increased foreclosure rates, saying the city’s bid to sue over reduced property taxes passes muster under the U.S. Supreme Court’s Bank of America v. Miami decision.
A California federal judge on Monday laid into the U.S. Department of Justice, suggesting it was wasting resources by requesting a jury trial for a former Barclays PLC trader charged with scheming to defraud Hewlett-Packard Co. in a £6 billion options transaction, after the defendant said he’d prefer a bench trial.
UBS AG units on Monday urged the First Circuit to revive its bid for $20 million in coverage for costs associated with claims that investors lost billions of dollars because UBS manipulated Puerto Rico's municipal debt bond market, arguing that the claims are not sufficiently similar to previously filed actions to trigger a policy exclusion.