DOJ Subpoenas Fintech Co. In Antitrust Employment Probe

By Matthew Perlman (February 25, 2021, 5:44 PM EST) -- The employment practices of financial services technology provider nCino Inc. are being scrutinized by the U.S. Department of Justice's antitrust unit, the company said Thursday in a securities filing, revealing the agency's latest probe of competition issues in labor markets.

The company and some of its officers and employees had received grand jury subpoenas the previous day connected to a DOJ antitrust probe of its hiring and wage practices, nCino said in the filing with the U.S. Securities and Exchange Commission. The filing said nCino is cooperating with authorities and does not believe the investigation will have a "material adverse effect on...

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