The multinational Spanish banking group Banco Bilbao Vizcaya Argentaria SA has initiated arbitration against Bolivia as the country looks to shift the management of public pension funds from a BBVA unit back to the government, saying they've been unable to come to an agreement on compensation.
A New York federal judge on Tuesday recertified an investor class after a Second Circuit decision vacated its first certification win, finding that Goldman Sachs failed to show that alleged misstatements on its ethical compliance had no price effect on its stock value.
Silicone maker Momentive Performance Materials Inc. and two investor group trustees filed legal briefs Monday ahead of a New York bankruptcy court trial over the proper interest rate that should attach to the company's Chapter 11 plan cramdown notes, a matter remanded by the Second Circuit last year.
The New York attorney general fired back on Monday against litigation funder RD Legal Funding LLC’s efforts to shut down a suit alleging it scammed injured NFL players and ailing 9/11 first responders, saying the suit should continue despite an earlier ruling that found the Consumer Financial Protection Bureau unconstitutional.
The U.S. Securities and Exchange Commission on Tuesday barred the founder of an oil and gas company from serving in leadership positions and participating in penny stock offerings after making alleged misstatements related to an initial coin offering.
A New York federal judge overseeing coordinated residential mortgage-backed securities trustee litigation against Wells Fargo Bank NA has backed a magistrate judge’s rejection of challenges both to the bank’s privilege assertions and to its push for more detail on certain claims from the investors behind the suits.
The Royal Bank of Scotland will pay the U.S. $4.9 billion to end claims the bank deceived investors about poor-quality loans behind its residential mortgage-backed securities in what the U.S. Department of Justice on Tuesday called its largest civil penalty against a single corporate entity over the financial crisis.
A proposed class action lawsuit alleging the Bank of New York Mellon engaged in self-dealing should be dismissed because the case is precluded by the Securities Litigation Uniform Standards Act, the bank told a Pennsylvania federal court.
Euronext said Tuesday it has bought out the remaining minority stake of its Fastmatch unit held by the currency trading business' founder after the former executive sued the European stock exchange for wrongful termination in New York federal court.
Shareholders suing State Street Corp. in a proposed class action have asked a Massachusetts federal judge to approve a $4.9 million settlement in the case, which alleged the bank overcharged clients and inflated revenue and profits in its financial statements.
Nelson Mullins Riley & Scarborough LLP has brought on a corporate attorney who previously worked in private practice as a partner in the firm’s Atlanta office.
Attorneys for former Trump campaign chair Paul Manafort rested their case on Tuesday, declining to present evidence to rebut the government's allegations that the political consultant concealed overseas earnings from the U.S. government to avoid paying taxes and borrowed money using bogus financial documents.
One of the country’s highest-profile litigators, the Boies Schiller Flexner LLP chairman was diagnosed with dyslexia when he was in his 30s. In an interview with Law360, he talks about practicing law with the learning disability. This article is part of our special report on disability inclusion in the legal industry.
Sometimes viewed as an “invisible” disability, mental illness has long been forced under wraps because of the risk attorneys could face bias and stigma. Here’s how lawyers, law firms and other groups are starting to take on the status quo. This article is part of our special report on disability inclusion in the legal industry.
The CEO of Federal Savings Bank pushed through $16 million in bank loans to Paul Manafort despite concerns of too much risk to the bank posed by lending to the president's former campaign manager, a bank executive told a Virginia federal jury Monday.
The high interest rates on CashCall’s consumer loans worth more than $2,500 could be unconscionable, the California Supreme Court said Monday, answering the Ninth Circuit’s query on whether the state’s Financial Code, which lays out interest caps on loans under $2,500, could apply to larger debts.
A New York bankruptcy judge on Monday approved a request by Aralez Pharmaceuticals Inc. to use up to $1 million from a $5 million debtor-in-possession loan, but instructed the distressed drug distributor to better explain its budget and application of borrowed funds when it seeks the remainder.
Swiss bank Zürcher Kantonalbank has agreed to pay $98.5 million after admitting to helping U.S. clients dodge taxes by letting them stash money in undeclared accounts that used code names and shell companies, Manhattan federal prosecutors announced Monday.
UBS AG asked a New York federal judge on Monday to dismiss Bloomberg's suit alleging that it unlawfully redistributed proprietary data through its portfolio analysis and risk management software, saying that England — the place where the disputed actions of UBS Delta took place in their entirety — is a more appropriate venue.
A man accused of trading at least six stocks based on insider tips about corporate transactions relayed to him from a Bank of America Corp. staffer pled guilty to a conspiracy charge in Manhattan federal court on Monday and faces a guidelines sentence of 18 to 24 months behind bars.
The effects of last year’s tax overhaul, the most significant since 1986, have not been as drastic as some expected. Still, taxpayers have begun to adjust and a number of significant trends are emerging, say Nickolas Gianou and Sally Thurston of Skadden Arps Slate Meagher & Flom LLP.
U.S. Supreme Court Justice Neil Gorsuch's opinion in Epic Systems v. Lewis employed the same analytics used by Justice Antonin Scalia in three previous decisions. They strongly suggest the court would allow a mandatory arbitration clause with a class action waiver in the Employee Retirement Income Security Act context, says James Baker of Baker McKenzie.
As a clerk for Justice Ruth Bader Ginsburg, my job was to mirror my boss’ views and values in everything I did. Years later, I find that I am still striving to live up to the values Justice Ginsburg instilled in me, as both a lawyer and a spouse, says Burden Walker, an assistant U.S. attorney for the District of Maryland.
A recent report from the U.S. Treasury Department discussed the use of artificial intelligence in financial services and identified related legal challenges. There is little risk of financial regulators taking proactive steps to restrict the use of AI, but existing laws and regulations adopted long before its advent remain in effect, says David Stein of Covington & Burling LLP.
The U.S. Attorney’s Office for the District of Connecticut, following reversals of two prior convictions, has moved to dismiss its remaining securities fraud claim against bond trader Jesse Litvak. While it can be difficult to prove misstatements are material as a matter of law, the government's move is certainly not a death knell for similarly grounded fraud charges, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Although commonly associated with cryptocurrencies, blockchain technology can also be implemented to modernize international supply chains, which currently suffer from voluminous documentary requirements, layers of middlemen and immense regulation, say James Ton-that and Ravi Soopramanien of Hughes Hubbard & Reed LLP.
Relying in part on the definition of “doing business" in the 100-year-old Funk & Wagnalls dictionary, the Maryland Court of Appeals recently ruled on the licensing of Delaware statutory trusts and foreclosure proceedings on delinquent residential mortgage loans. The decision should end the confusion surrounding the ability of a state trust to foreclose in Maryland, say attorneys with Mayer Brown LLP.
Justice Ruth Bader Ginsburg is everything she is cracked up to be — feminist icon, brilliant jurist, fierce dissenter. She is also an incredible boss, mentor and friend. Her advice has shaped how I have tried to balance building a career and raising children, says Rachel Wainer Apter, counsel to the New Jersey attorney general.
Currently, there is a split in New York appellate authority over whether a notice of default using the words “will be accelerated" clearly and unequivocally accelerates a mortgage debt upon the expiration of the cure period. Mortgage servicers and other financial institutions would benefit from adjudication of this heavily litigated gray area by the state’s highest court, say Diana Eng and Andrea Roberts of Blank Rome LLP.
The United States last week took the unprecedented step of sanctioning officials of a NATO member state — the justice and interior ministers of Turkey — pursuant to the Global Magnitsky Human Rights Accountability Act of 2016. The action demonstrates how Global Magnitsky sanctions can be readily employed without much advance legal groundwork, says Hdeel Abdelhady of MassPoint Legal and Strategy Advisory PLLC.