The unlaunched digital wallet for Facebook-affiliated digital currency network Libra has gotten a makeover following Libra's reconfiguration, the social media giant said Tuesday.
The U.S. Supreme Court on Tuesday said it won't review a Third Circuit decision that allowed the 2015 confirmation of a troubled laboratory company's Chapter 11 plan over opposition from creditors that argued the plan unconstitutionally released key parties from damage claims without creditor consent.
Investors accusing Bank of America, Deutsche Bank and HSBC of rigging the market for bonds issued by foreign governments are urging a New York federal court to approve a proposed allocation of the $95.5 million in settlements reached with the banks over the proposed class action.
Texas Capital and Independent Bank Group have decided to terminate their planned $3.07 billion stock merger due to market turmoil caused by the coronavirus, the companies said Tuesday, marking the latest in a series of significant transactions to be called off because of the pandemic.
They've represented consumers, companies, and government entities, taken on Goliaths in industries ranging from aerospace to health care to finance to technology to sports, and won landmark victories on behalf of clients across the country.
A group of law professors and former SEC officials said Friday that the Second Circuit's recent split-panel ruling against Goldman Sachs in a heavily watched class certification fight creates risks to public companies that are now exacerbated by the COVID-19 crisis.
A Houston-area law firm and one of its attorneys have been hit with a state court lawsuit seeking more than $100 million in damages by a member of a prominent Texas family alleging the firm tricked his ailing father into giving them power over his business empire.
Curtis Mallet-Prevost Colt & Mosle LLP has added a pair of attorneys with experience in legal actions involving global brands such as Gucci and Parmalat to its Milan office, along with a new tax counsel.
The Consumer Financial Protection Bureau on Friday unveiled a framework to help banks get no-action relief for small-dollar loans they're considering offering, outlining certain "guardrails" that would need to be included in such products to meet with the agency's approval.
Two purported student debt servicers and their executives will pay $5.5 million to end claims they duped student borrowers into paying for loan services that should have been free, New York's attorney general said Friday.
The U.S. Securities and Exchange Commission is clamping down on investment advisers and broker-dealers with wide-ranging initiatives and settlements that highlight a "hyperfocus" on disclosure issues, showing the regulator is determined to improve the ways firms communicate with clients, attorneys say.
A three-member Financial Industry Regulatory Authority panel chucked an enforcement action accusing a brokerage firm and its principals of fraudulently selling $12.5 million in promissory notes to prop up a struggling real estate investment business, finding on Thursday that the regulator was short on evidence.
The U.S. Consumer Financial Protection Bureau can join forces with Florida's state attorney general and financial regulator to fight a single lawsuit accusing mortgage servicer Ocwen Financial of pervasive misconduct, a Florida federal judge has ruled.
A New Jersey federal judge on Friday refused to release an ex-president of a staffing agency from prison due to the coronavirus pandemic as he serves time for defrauding a lender out of more than $400,000, saying he didn't follow the requisite administrative process through the Bureau of Prisons.
The past week in London has seen a Puerto Rican lender sue Venezuela's state-run oil company months after inking a settlement over suspicious payments, a Dutch tulip grower take Maersk into court over a cargo shipment and Wilmington Trust face down commercial fraud claims. Here, Law360 looks at those and other new claims in the U.K.
Lewis Brisbois has added a new partner in its Fort Lauderdale, Florida, office who brings extensive experience handling a variety of commercial transactions and regulatory matters, especially involving the maritime and cruise industries.
In this edition of Coronavirus Q&A, one of Dechert's global real estate finance leaders discussed the ways COVID-19 is impacting the commercial mortgage-backed securities market and likened the current pandemic to the unknowns faced by early explorers and cartographers.
The coronavirus outbreak has shaken up how initial public offerings are done in ways that could last beyond the pandemic itself, including a shift to virtual roadshows that deal advisers say provide certain efficiencies that companies may enact permanently. Here, Law360 takes a look at three ways the pandemic is altering how IPOs are practiced.
Cannabis dispensary operator Tryke Management has put in a bid for attorney fees after an Arizona federal judge awarded the company a judgment of nearly $1.8 million in its fight with embattled cannabis industry credit card processor Linx Card Inc.
Exide Technologies LLC's second Chapter 11 in the past decade is off to a contentious start as a Delaware judge Thursday gave his nod for Exide to use lender cash collateral and up to $40 million in debtor-in-possession financing, despite strong opposition from certain secured lenders.
A former Goldman Sachs banker who copped to sharing corporate secrets with a supervisor's acquaintance told a New York federal judge Wednesday that given the pandemic, he should be sentenced to supervised release and a year of community service.
Cannabis businesses in Los Angeles that are used to paying their city taxes in cash can now pay through online accounts, through a banking agent working with the city to help the underbanked industry during the COVID-19 lockdowns.
An auto parts magnate has urged a Michigan federal court to declare his ownership of assets held in his personal revocable trust in a move that seeks to quash JPMorgan Chase's attempts to collect a $425 million judgment in a long-running bankruptcy debt dispute.
An Illinois federal judge refused Wednesday to dismiss indictments against two former Merrill Lynch traders accused of a yearslong scheme to spoof the precious metals futures market, saying prosecutors had adequately argued the traders intended to manipulate the market.
Manhattan federal prosecutors brought fraud and false statements charges Thursday against a Chinese national over a purported scheme to get more than $20 million in government-backed loans earmarked for small businesses adversely affected by the coronavirus pandemic.
As the Paycheck Protection Program provides federal coronavirus relief funding through a variety of financial institutions, the U.S. Department of Justice will certainly look closely at the Financial Institutions Reform, Recovery and Enforcement Act — with its lengthy limitations period and statutory penalties — when contemplating enforcement measures, says Peter Hyun at Wiley.
Many remote meeting technologies include recording features as default settings, raising three primary concerns from a legal discovery and data retention perspective, and possibly bringing unintended consequences for companies in future litigation, says Courtney Murphy at Clark Hill.
A tsunami of bankruptcy filings due to the economic effects of the coronavirus may not be a bad thing, as it could provide the only way for some struggling companies to stay alive — a minimalist, deep hibernation mode where they can await rescue, says Joseph Moldovan at Morrison Cohen.
Companies and creditors in search of funding during the pandemic should analyze available options under existing bond and term loan covenants, and explore creative ways to establish priority status where necessary in the critical search for liquidity, say attorneys at Shearman.
In-house counsel may assume that "elite" law firms will turn up their noses at the idea of contingent fees, but such arrangements, whether pure or hybrid, are offered by many firms — even to defendants — and may be the answer to tight litigation budgets, say attorneys at Fish & Richardson.
The CARES Act's well-intentioned Paycheck Protection Program has problems, and Congress should take steps to better protect small businesses and define several terms that continue to cause confusion, says Samantha Block, a judicial clerk at the U.S. Court of Federal Claims.
When the dark cloud of COVID-19 has passed and resolution centers are once again peopled with warring parties and aspiring peacemakers, remote mediations will likely still be common, but they are not going to be a panacea for all that ails the dispute resolution industry, says Mitch Orpett at Tribler Orpett.
Allowing businesses to reopen without emergency regulations from the Occupational Safety and Health Administration and with liability protections for businesses send a terrible, confidence-sapping message to workers and consumers, and will unnecessarily jeopardize economic recovery, says Charles Jeffress, former assistant secretary at OSHA.
Because securities fraud tends to increase in times of crisis, financial institutions should be on the lookout for elder abuse red flags identified by the Financial Crimes Enforcement Network and U.S. Department of Justice, and shore up suspicious activity reporting, says Michael Napoli at Akerman.
For professors, trainers, lawyers, students and businesses grappling with the unexpected challenges of distance learning, trial attorney and teacher James Wagstaffe offers best practices for real-time online instruction.
To chart a sustainable path for the decade or more that will be required for full economic recovery from the global pandemic, the U.S. and other G-20 nations need a course correction in trade policy, say Robert Holleyman and Himamauli Das at C&M International.
Mortgage defaults and losses resulting from COVID-19 should be more limited than during the Great Recession, but nonetheless litigation may arise over mortgage servicing and origination practices, say members of Analysis Group.
Recent changes to term sheets for the Federal Reserve's Main Street Lending Program, allowing borrowers to utilize adjusted earnings before interest, taxes, depreciation and amortization, will increase the available loan amount and qualify more borrowers, says Keith Durkin at BakerHostetler.
Business disputes are not a priority for courts right now, so companies looking to protect their trade secrets or rights to contractual performance must tailor their requests for emergency relief to the unique circumstances of this time, says Shannon Armstrong at Holland & Knight.
There may be precious little notice before the legal community ramps up, so it's important to have return-to-work plans that address the unique challenges law firms will face in bringing employees back to offices, say attorneys Daniel Gerber, Barbara O'Connell and Richard Tucker.