Three top financial industry groups urged the U.S. Supreme Court to overturn a Third Circuit ruling that reinstated a stockholder suit accusing M&T Bank of failing to fully disclose the risks of a $3.7 billion merger, saying the decision could harm capital markets.
Home Depot asked the Eleventh Circuit on Friday to end a three-year fight over attorney fees in a data breach settlement with a class of banks by capping at $11.7 million plus interest the amount in fees it has to pay class counsel.
A Miami resident sued a Las Vegas-based timeshare company as well as consumer reporting service Experian in federal court Thursday, alleging the timeshare business opened a credit account in his name after he attended one of its presentations.
This past week in London has seen more litigation involving Mozambique and Credit Suisse, a U.K. bakery sue its underwriters and a General Electric unit face a contract suit from a Filipino energy provider. Here, Law360 looks at those and other new claims in the U.K.
It was a busy year for U.S. merger enforcers who opened some of the most important forays yet against internet platforms, while also launching the first litigated challenge to a so-called killer acquisition in four decades.
The Ninth Circuit affirmed a lower court's dismissal Thursday of a proposed class action brought by PayPal investors alleging that the company concealed information and attempted to mislead shareholders concerning a 2017 data breach.
The U.S. Securities and Exchange Commission struck a $1.5 million deal with a so-called member firm of Ernst & Young Global on Thursday for its role as the auditor of a Mexico-based homebuilder accused of multibillion-dollar accounting fraud.
Former Nomura Securities International Inc. bond trader Michael Gramins was sentenced Thursday to six months' home confinement with an electronic monitor, avoiding the prison term Connecticut federal prosecutors had requested for his fraud conspiracy conviction involving residential mortgage-backed securities.
Users of financial data aggregator Yodlee Inc. urged a California federal judge Wednesday not to toss their putative class action alleging the company and its parent company secretly collect and sell highly sensitive banking data, "exploiting" millions of customers.
Fried Frank represented Brookfield Properties in connection with an $835 million commercial mortgage-backed securities loan the company landed for an office tower in Lower Manhattan, according to an announcement from the law firm on Thursday.
Hong Kong companies and asset managers will have to bolster climate-related disclosures by 2025, according to plans outlined Thursday by banking and securities regulators seeking to direct more capital toward environmentally friendly uses.
Wells Fargo customers suing the bank in five suits in multidistrict litigation over deceptive overdraft fees asked the Eleventh Circuit on Thursday to reverse an order sending the claims to arbitration, arguing that the wording of their contracts calls for commercial dispute resolution to consumer claims.
An Oklahoma-based document-management company for banks failed to protect private information from a ransomware attack, leading to exposure of bank customers' information online, according to a proposed class action filed in Pennsylvania federal court Wednesday.
The Second Circuit on Wednesday refused to consider an appeal challenging the denial of class certification for aluminum buyers who have accused financial giants and metal warehouses of scheming to raise the price of the metal.
Robinhood Financial LLC agreed to pay a $65 million fine Thursday to resolve allegations from the U.S. Securities and Exchange Commission that the trading platform failed to disclose an order routing arrangement that hindered its ability to get the best pricing for customers and led to millions of dollars in losses.
The Financial Industry Regulatory Authority has fined a California-based broker-dealer and two of its affiliates $1 million for alleged shortfalls in supervising certain customer representatives, issues that had been flagged by the U.S. Securities and Exchange Commission.
Consumer-lending firm Upstart Holdings Inc. and tumor-focused drug developer BioAtla Inc. went public on Wednesday to receptive investors after raising $429 million combined under guidance from four law firms, continuing the initial public offerings market's late-year surge.
New York Gov. Andrew M. Cuomo on Tuesday signed a new law that streamlines how power of attorney forms are handled, which the New York State Bar Association called a big win for residents and its members because it makes it more likely the forms aren't rejected due to harmless errors or omissions.
Silicon Valley Bank won a court battle Wednesday when an Arizona federal judge joined other courts in ruling that lenders are not required to pay processing fees to agents who helped borrowers apply for loans through the federal Paycheck Protection Program.
Starwood has reportedly sold four Florida buildings for $78.42 million, Dwight Capital is said to have loaned $44.5 million for an Oklahoma City redevelopment project, and Fairfield Residential has reportedly paid $13.4 million for a Fort Lauderdale, Florida, development site.
Bank of America, JPMorgan Chase and other banking giants have renewed their push in New York federal court to torpedo a proposed class action accusing them of colluding to rig prices for smaller trades of corporate bonds, saying the latest version of the case is still "impossibly broad" and "legally insufficient."
The U.S. Department of the Treasury released a report Wednesday in which it accused Vietnam and Switzerland of manipulating their currencies, paving the way for negotiations with each country to resolve the agency's concerns.
A Manhattan federal court awarded a former UBS Securities analyst who won a $1 million retaliatory firing verdict $1.77 million in attorney fees and costs Wednesday, granting half the sum requested by his lawyers at Stulberg & Walsh LLP and Herbst Law PLLC.
Luckin Coffee Inc. agreed Wednesday to pay $180 million to resolve allegations from the U.S. Securities and Exchange Commission that the China-based coffee chain defrauded investors by misstating revenues, expenses and net operating losses.
Robinhood Financial LLC was hit with a lawsuit Wednesday by Massachusetts securities regulators, who claim the popular trading platform targeted young, inexperienced investors, failing to act in their "best interest" and exposing them to "unnecessary trading risks."
As corporate America faces a barrage of coronavirus-related class actions, defense counsel can use data analytics to build damages estimation models in support of their litigation strategies in employment, consumer fraud and Paycheck Protection Program matters, say analysts at Ernst & Young.
Implementing pay structures that compensate attorneys for achieving clients' goals rather than measuring success based on hours billed is a necessary first step to keeping underrepresented attorneys in BigLaw, says Elizabeth Korchin at Therium Capital.
The U.S. Small Business Administration's new Paycheck Protection Program questionnaire applies problematic metrics to scrutinize relief recipients' motives and eligibility with the benefit of hindsight, say attorneys at Arent Fox.
The U.S. Securities and Exchange Commission’s recently finalized amendments to the Securities Act’s “accredited investor" definition took a prescriptive approach compared to the range of suggestions the agency received during the public comment period, but further qualifications should be expected, say Akshay Belani and John Sottile at Stroock.
Adrienna Huffman and Bin Zhou at The Brattle Group analyze potential ramifications pandemic-prompted goodwill impairments could have on securities litigation, examine likely claims and defenses, and discuss parallels with the 2008 financial crisis.
Jim Lofton at Lofton Legally Speaking explains why tightly constructed arguments, the right camera angle and good online behavior are crucial to a powerful virtual courtroom presentation.
Stakeholder capitalism could help restore confidence in our institutions amid turbulent times if the government looks to pandemic and financial crisis relief legislation as a guide to implementing existing statutes and regulations to hold corporations accountable, say Christopher Dodd and Teresa Johnson at Arnold & Porter.
General counsel are in a unique position to ensure that their partner law firms are giving significant case assignments to underrepresented attorneys, and to help future generations of lawyers access meaningful opportunities early in their education or careers, says Laura Schumacher, chief legal officer at AbbVie.
William Pizzi's argument in "The Supreme Court's Role in Mass Incarceration" that the U.S. Supreme Court is responsible for the high rate of incarceration is compelling, but his criticism overlooks the positive dimensions of the criminal procedure decisions under Chief Justice Earl Warren, says U.S. District Judge Lynn Adelman of the Eastern District of Wisconsin.
A new Office of the Comptroller of the Currency rule that provides much-needed clarity on who is the "true lender" in financing transactions should encourage banks to lend, but those doing so under a partnership model should continue to exercise diligence, say attorneys at Morgan Lewis.
While cross-border discovery applications have markedly increased in the year since the Second Circuit’s ruling in del Valle Ruiz, post-decision concerns that U.S. companies would become conduits for extraterritorial document discovery have not been realized, say attorneys at Murphy & McGonigle.
Expected changes to the Volcker Rule will permit banks to invest in small and emerging venture capital funds, which could close the gap in financing for startups and small businesses outside the major investment hubs, says Lindsay Karas Stencel at Thompson Hine.
The tools of powerful political speeches — those with soaring rhetoric that convinces and moves listeners — can be equally applicable to oral advocacy, case strategy and brief writing, say Lauren Papenhausen and Julian Canzoneri at White & Case and former presidential speech writer Dave Cavell.
The Ninth Circuit's recent decision in BofI Holding — revived due to a whistleblower action — may erode Private Securities Litigation Reform Act protections for publicly traded companies facing shareholder class actions, and may give plaintiffs a road map for pleading loss causation and scienter, say Glenn Vanzura and Kevin Kelly at Mayer Brown.
Former Georgia Supreme Court Chief Justice Robert Benham looks back at the racial barriers facing his first judicial campaign in 1984, and explains how those experiences shaped his decades on the bench, why judges should refrain from taking political stances, and why he was an early supporter of therapeutic courts that deal with systemic problems.