RD Legal, a settlement advance company accused of scamming injured NFL players and ailing 9/11 first responders out of millions, has asked a federal court to toss the New York attorney general’s suit against it after the same court issued a head-turning ruling in June finding the Consumer Financial Protection Act unconstitutional.
A collection of groups representing consumers as well as the paper and printing industries have asked the D.C. Circuit to throw out the U.S. Securities and Exchange Commission’s recently finalized rule allowing mutual funds to distribute most shareholder reports online and send out paper versions only upon request.
The Consumer Financial Protection Bureau accused Navient Solutions Inc. of throwing up roadblocks and providing incomplete information in the bureau's suit over the company's student loan servicing practices and it is asking a Pennsylvania federal judge to make the company release more documents.
Two women have accused Rivers Casino in Pittsburgh of zooming in on their cell phones with its security cameras to record their private information, then sharing that information with one plaintiff’s ex-husband, according to two lawsuits filed in Allegheny County court.
A Texas investment adviser hit Charles Schwab Corp. with a $100 million defamation suit, claiming the national investment firm poached its clients after terminating their working relationship because of false stories alleging the adviser colluded with President Donald Trump, Russians and Fox News to publish “fake news.”
The Trump administration will reinstate sanctions on Iran’s aircraft, automotive and metals sectors as it completes its exit from the Obama administration’s historic nuclear disarmament deal, vowing to apply “unprecedented” economic pressure on Tehran.
HSBC Holdings PLC has agreed to pay U.S. regulators $765 million to settle an investigation by the U.S. Department of Justice into its selling of controversial mortgage securities in the years before the financial crisis, the bank revealed in half-year results on Monday.
U.S. Bank NA has been hit in San Diego federal court with a proposed class action accusing it of bilking customers out of millions of dollars with allegedly improper out-of-network ATM fees and overdraft fees.
Two Chubb Ltd. insurers on Thursday urged the Second Circuit to affirm that they don’t have to cover a nearly $3.4 million settlement that a victim of Bernard L. Madoff’s Ponzi scheme paid to resolve a clawback action brought by the Madoff bankruptcy trustee, saying a lower court properly held that the action didn’t trigger their policies’ personal injury coverage.
The U.S. Department of Homeland Security's recent decision to open a center dedicated to tackling cyberthreats directed at critical infrastructure is likely to help expand vital communication channels between the public and private sectors, but lingering concerns over liability protections could limit the initiative's ultimate effectiveness, attorneys say.
Stephen Salley of Sullivan & Cromwell LLP has advised NorthStar Asset Management in a three-way merger that created one of the largest real estate investment trusts in the country and guided American Express in major co-branded credit card portfolio deals, earning him a spot as one of five banking attorneys under age 40 honored by Law360 as Rising Stars.
A panel for the D.C. Circuit on Friday criticized the Department of Justice’s Office of Professional Responsibility for its “blanket refusals” to provide a jailed attorney documents relating to the alleged misconduct of the former federal prosecutor who convicted him, saying the office didn’t justify all of its Freedom of Information Act exclusions.
A California state appeals court has wiped out JPMorgan Chase's arbitration win in a worker's race bias suit, saying the arbitrator violated ethics rules by failing to mention her work in several other cases involving the company's law firm, Seyfarth Shaw LLP.
Three London-based foreign currency exchange traders urged a Manhattan federal judge to block prosecutors from bringing up a group of large banks’ guilty pleas to manipulating the forex market, or any accusations of “spoofing” from their upcoming trial.
The last week has seen a Russian businessman's telecom company forge ahead with a commercial fraud claim against Russia's VTB bank, ED&F Man Capital Markets sue a rival brokerage and U.K. insurer RSA initiate the court process to transfer policies to its new Luxembourg unit. Here, Law360 looks at those and other new claims in the U.K.
A former accountant for Paul Manafort on Friday said in Virginia federal court that she helped the onetime Trump campaign chairman reduce his tax burden by improperly reclassifying $900,000 in income received by his consulting firm from a Cyprus-based company as loans on his 2014 tax returns.
A Montana federal judge on Friday rejected Think Finance LLC's bid to end a Consumer Financial Protection Bureau suit accusing the financial technology company of deceiving borrowers and using sham tribal lenders to collect money it wasn't owed, saying the CFPB’s structure is legal and tribal leaders don’t have to be joined to the suit.
A Texas probate judge chopped a $4 billion judgment against JPMorgan Chase & Co. to $7 million in a case alleging the bank had maliciously mishandled the inheritance of a deceased American Airlines executive.
Morgan Lewis & Bockius LLP has added a finance partner with nearly 20 years of experience to its New York office, according to the firm.
The receiver overseeing a company accused of operating a $123 million Ponzi scheme involving fraudulent ATM sales has urged a California federal court to approve a $33 million settlement resolving claims against the company’s bank, City National Bank.
The blockbuster e-discovery cases, with big sanctions and bigger controversies, have been few and far between this year. But that doesn’t mean the legal questions around e-discovery have been answered. Let’s take a closer look at three cases worthy of our attention, says Casey Sullivan, an attorney at discovery technology provider Logikcull.
A Florida magistrate judge's finding last month that tokens issued and sold by technology startup Centra Tech are investment contracts could serve as a road map for the evaluation of token sales in other cases, say attorneys with DLA Piper.
The Aleynikov case demonstrates that employees who attempt to use the proprietary source code of their former employers without authorization may face not only the risk of civil liability, but also prosecution under local criminal statutes. And they could also face liability under the recently expanded federal Economic Espionage Act, says Jonathan Waisnor of Willkie Farr & Gallagher LLP.
The deduction for interest as a business expense was substantially limited by last year’s revision of IRC Section 162(c). But last month's IRS chief counsel memo has advised that borrowers in lending transactions can deduct unused commitment fees and provides taxpayers with a road map for structuring transactions to avoid the new limitations, say Mark Leeds and Brennan Young of Mayer Brown LLP.
Later this week, Harvard Law students will begin bidding on interview slots with the nation’s top law firms. Our institutions owe it to their students not only to require firms to disclose mandatory arbitration provisions in new associate contracts, but also to bar employers from on-campus recruiting if they require these provisions, says Isabel Finley, a third-year student at Harvard Law School and president of the Harvard Women’s Law Association.
The newly introduced STATES Act would alleviate most of the issues that financial institutions face in providing services to marijuana-related businesses, say attorneys with Dykema Gossett PLLC.
The U.S. Securities and Exchange Commission's proposal to reduce payments to whistleblowers in the largest anti-fraud cases completely ignores the central purpose of the Dodd-Frank Act's whistleblower provisions, says Stephen Kohn of Kohn Kohn & Colapinto LLP.
A takeaway from the few public statements available so far is that Jelena McWilliams, the Federal Deposit Insurance Corp.'s new chairwoman, has put forth an ambitious, pro-industry agenda that will require coordination among the banking regulators, say Kristina Whittaker and Neil Bloomfield of Moore & Van Allen PLLC.
Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.
The U.S. Securities and Exchange Commission’s post-Lucia problems extend beyond the practical challenge of litigating cases for a second time. The U.S. Supreme Court's decision has also set up several concrete defense arguments for respondents in SEC administrative actions, say Andrew Morris and Ben Aiken of Orrick Herrrington & Sutcliffe LLP.