Altice Europe NV announced Wednesday that it plans to sell off equity stakes in its telecommunication tower businesses in France and Portugal for a total cash consideration of 2.5 billion euro (about $2.9 billion) with the intent of deleveraging.
A woman who claims Navient Solutions LLC pestered her with unwanted robocalls pressed a Virginia federal judge to sign off on the parties' proposed $2.5 million class action deal, arguing that the pact was a “good result” in light of a recent D.C. Circuit ruling that “enhanced” Navient’s core autodialer defense.
A Texas bankruptcy court Tuesday approved iHeartMedia Inc.'s plan to pay a dozen of its top executives up to $25 million in bonuses for 2018, overriding an objection by the U.S. Trustee's Office.
The unsecured creditors of Tops Markets LLC are set to appear in New York bankruptcy court Thursday after calling for an investigation into the bankrupt grocery chain and payments made by its previous ownership group that saddled the company with unsustainable liabilities, arguing discovery provided by the debtors is inadequate.
By agreeing to hear an appeal of an investment banker found liable for fraud for copying and pasting his boss's fraudulent emails into a message to clients, the U.S. Supreme Court is expected to clarify the important distinction between primary and secondary liability in securities fraud cases, legal experts say.
A federal judge in Philadelphia tentatively approved a $13.5 million settlement on Wednesday between Bank of New York Mellon Corp., JP Morgan Chase & Co. and investors who accused the banks of failing to go to bat for them when the hospital whose debt they had purchased went bankrupt.
A New York state judge on Tuesday threw out an investment company’s lawsuit accusing the majority owners of a structured-settlement buyout company of bilking it out of more than $1 million it was owed from the sale of a subsidiary, finding they had rights to the funds that the investment company says should have gone to pay it off.
Evercore is reportedly close to a lease deal to take roughly 170,000 additional square feet in New York, Digital Currency Group is said to have leased nearly 12,000 square feet in New York, and StateTrust Group has reportedly dropped $13 million on a vacant office building in Florida.
A proposed class of current and former Bank of America Corp. employees has urged the full Fourth Circuit to reconsider a panel's decision to nix their Employment Retirement Income Security Act lawsuit seeking to recover profits the bank made from illegally transferring the balances of their separate 401(k) plan accounts into its general pension plan account.
A New Jersey federal judge ruled on Tuesday that a bank can keep its attorney in a dispute over whether a homeowner improperly cashed an insurance check for herself, finding that the attorney’s referral of the case to a prosecutor didn’t warrant disqualification.
Ocwen Financial Corp. and its executives on Tuesday said a group of Owl Creek investment funds have based their claims over a decline in stock value amid the mortgage servicer's alleged compliance failures on inactionable statements and asked a Florida federal judge to toss the suit.
The Native American Financial Services Association and the state of Oklahoma have thrown their support behind Think Finance LLC's bid to shake a Consumer Financial Protection Bureau suit accusing the financial technology company of duping borrowers and using sham tribal payday lenders to collect money it wasn't owed.
A former State Street Corp. executive on trial for allegedly hiding millions of dollars in fees from some of the firm's biggest clients asked a federal judge in Boston on Tuesday for an acquittal before the case goes to the jury, arguing that the government has not been able to prove its case.
A U.K. appeals tribunal on Wednesday upheld a Financial Conduct Authority order banning a former UBS AG trader from holding any role in the financial services industry, but warned that it found the regulator’s pursuit of individuals in the Libor manipulation probe “troubling.”
New York’s banking regulator said Wednesday that Deutsche Bank AG has agreed to pay a $205 million penalty as part of a settlement resolving state banking law violations stemming from an investigation into the German bank’s foreign exchange trading business.
The U.S. Securities and Exchange Commission on Tuesday said it has secured an asset freeze against five investment advisers and three companies for allegedly conning at least 637 investors over several years through $102 million Ponzi scheme.
A California federal judge has thrown out a securities fraud suit accusing BofI Holding Inc. of failing to disclose that it was allegedly involved in lending to criminals and under investigation by federal authorities, ruling Tuesday that the proposed class action suffered from key shortcomings but did not warrant sanctions.
Ambac Assurance Corp. on Monday launched its opening arguments in an appeal over the diversion of highway bond revenues in Puerto Rico stemming from a ruling in the territory's bankruptcy-type cases, saying the underlying acts by the island's government violated the Constitution.
A New York bankruptcy judge Monday ended a stay on discovery by the trustee overseeing China Fishery Group Ltd.'s Chapter 11 inquiry into HSBC’s debt collection efforts against the company a month after the Second Circuit turned down HSBC’s attempt to stop it.
Brokerage firm Merrill Lynch Pierce Fenner & Smith Inc. has agreed to pay a $42 million penalty after admitting it misled its customers over where their trades were executed, the U.S. Securities and Exchange Commission said Tuesday.
While headlines proliferate about the recent political shake-ups at the nascent Consumer Financial Protection Bureau, the century-old Federal Trade Commission, with less fanfare, finally has a full slate of five commissioners for the first time since 2015, say Lucy Morris and Kavitha Subramanian of Hudson Cook LLP.
The U.S. Securities and Exchange Commission uses the fair fund process in a wide range of instances, with some cases involving the distribution of hundreds of millions of dollars to eligible investors. However, it is clear that completing the process can be arduous, as most of the fair funds created after 2009 are still open, says Alan Friedman of Charles River Associates.
The U.S. Supreme Court's decision in Hall v. Hall is significant because it clarifies that parties have an immediate right of appeal following a final decision in actions consolidated under Rule 42(a). Companies that routinely face consolidation will have to be diligent in taking timely appeals, say Desiree Moore and Daisy Sexton of K&L Gates LLP.
While the U.S. Supreme Court's decision in China Agritech v. Resh is clearly a win for class action defendants, one might fairly question how broad an application the decision itself may have. Its real significance likely lies in what it conveys when viewed together with the court’s other recent decisions restricting both equitable tolling and class actions, say Noelle Reed and Austin Winniford of Skadden Arps Slate Meagher & Flom LLP.
For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.
The Consumer Financial Protection Bureau recently announced plans to fold the Office of Students into the Office of Financial Education. While this move has been described as signaling a major shift in the CFPB’s approach to the student loan market, it may have less of a monumental impact on the regulation of that market than expected, say attorneys with Mayer Brown LLP.
The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.
Stakeholders within the aviation sector will be heavily affected by the reimposition of U.S. sanctions against Iran. With $49 billiion worth of contracts for new aircraft subject to cancellation, and related impacts expected on financiers, lessors and air carriers, the situation continues to evolve very quickly, say Daniel Martin and James Jordan of HFW.
Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback, says John Reed Stark of John Reed Stark Consulting LLC.
Following the swarm of recent requests for information issued by the “new” Consumer Financial Protection Bureau, I want to highlight one area where I think the agency went too far — namely, its extensive default servicing regulations under the Real Estate Settlement Procedures Act, says Laurence Platt of Mayer Brown LLP.