The past week in London has seen a U.K. insurance technology company take aim at PwC after an acquisition went south, a major cruise line sue to curb travelers' insurance claims, and the U.K.'s criminal investigator file for civil recovery from a real estate company. Here, Law360 looks at those and other new claims in the U.K.
The U.S. Senate confirmed the nominations of Hester Peirce and Caroline A. Crenshaw as commissioners of the SEC by a voice vote on Thursday evening.
Financial technology group BankMobile Technologies said Thursday it was going public through a merger with special purpose acquisition company Megalith Financial Acquisition Corp. in a deal that values the combined business at $140 million and that was guided by four law firms: Nelson Mullins, Stradley Ronon, Duane Morris and Ellenoff Grossman.
The U.S. government is trying to seize commercial real estate properties in Louisville, Kentucky, and Dallas valued at a combined $70 million, which it claims in suits filed Thursday were acquired using funds misappropriated from one of Ukraine's largest banks.
Federal prosecutors on Thursday announced charges against nine Florida and Ohio individuals for allegedly trying to scam the Paycheck Protection Program out of more than $24 million in loans, one of the biggest fraud cases yet involving the coronavirus relief program for small businesses.
Intercontinental Exchange Inc. has agreed to buy cloud-based mortgage platform Ellie Mae from private equity firm Thoma Bravo for roughly $11 billion, including debt, in a deal guided by five law firms, the companies said on Thursday.
Bank of America has agreed to make changes to help ensure that lactating workers get legally required break time and privacy as part of a deal resolving a federal investigation, the U.S. Department of Labor said Thursday.
Steak 'n Shake Inc. has sued Wilmington Trust to force the bank to let it sell up to $50 million in property holdings, telling a New York federal court their credit agreement "unambiguously" gives the financially stressed restaurant chain the right to sell real estate for cash.
Bank of America bond holders on Wednesday asked a federal judge in Washington state to certify a proposed class of customers, alleging that the bank refused to pay out their bonds because it or its predecessor banks lost or destroyed records.
Rocket, which owns digital mortgage business Rocket Mortgage and other Rocket brands, started trading Thursday after a downsized initial public offering steered by Paul Weiss Rifkind Wharton & Garrison LLP that priced below its expected range.
The Judicial Panel on Multidistrict Litigation said it will not consolidate class actions accusing more than 100 banks of withholding processing fees to agents that helped small businesses apply for federal coronavirus relief loans, ruling centralization would not help resolve the claims.
The Federal Reserve on Thursday announced details of its real-time payments system, FedNow, which the U.S. government has targeted as a key step in improving the nation's financial infrastructure, noting a focus on interoperability.
Capital One has agreed to pay an $80 million fine related to a 2019 data breach that exposed sensitive information on more than 100 million individuals in the U.S. and Canada, federal banking regulators said Thursday.
Consumer lender World Acceptance Corp. will pay $21.7 million to resolve a U.S. Securities and Exchange Commission investigation into the alleged bribery of government officials and union officials in Mexico.
The Federal Circuit on Wednesday affirmed a Patent Trial and Appeal Board determination that a software company's digital banking authentication technology was unpatentable as obvious.
Democrats on Capitol Hill have unveiled legislation that would formally task the Federal Reserve with working to close gaps in economic well-being across racial and ethnic lines, a significant potential expansion of the central bank's mission.
While overall deals activity continued to trend lower amid the coronavirus pandemic, the second quarter of 2020 saw fintech funding rebound to $9.3 billion, including a jump in megadeals over $100 million, according to a report published by market intelligence platform CB Insights on Wednesday.
An investor in the cryptocurrency Nano urged a California federal court to certify his proposed class action over the alleged theft of the coins in a $170 million hack of an Italian trading exchange, arguing that the suit is a "textbook example" of a case that deserves class action treatment.
The U.S. Judicial Panel on Multidistrict Litigation said Wednesday that it will not combine a collection of lawsuits accusing JPMorgan Chase Bank of mishandling small businesses' applications for federal coronavirus relief loans, concluding that there's not enough to be gained by such a move.
Sterling Bay has reportedly leased out 20,000 square feet in Chicago, D.R. Horton is said to be under contract to buy 21.1 acres in Florida and JPMorgan has reportedly provided $434 million in CMBS financing for a portfolio of office and industrial properties.
A New York federal judge on Tuesday doubled down on his decision to keep two Australian banks as defendants in a proposed class action alleging manipulation of Australia's benchmark interest rate, refusing to dismiss them alongside seven other banks.
An Illinois federal judge granted final approval on Wednesday to a $12.5 million settlement and $3.75 million fee request ending investors' allegations that Camping World artificially inflated its stock price and paved the way for an insider selling scheme before the price dropped.
A trio of legal teams, including attorneys from Pomerantz LLP and the Rosen Law Firm PA, want to lead a proposed class of Wells Fargo investors who allege they were hurt when the company "unfairly allocated" Paycheck Protection Program loans.
Merchant cash advance provider Yellowstone Capital and its top brass stole millions of dollars from its small business clients through hidden fees and unauthorized withdrawals, the Federal Trade Commission said in an enforcement action filed in New York federal court Monday.
Federal and state banking regulators are prodding banks to extend more help to borrowers still struggling with the effects of the COVID-19 crisis, outlining a selection of broad principles for banks to consider as initial loan accommodations wear off while the pandemic wears on.
The ongoing trade secret dispute in Texas between home valuation company HouseCanary and former collaborator Title Source offers important lessons for litigators, on thoroughly conducting presuit investigations, properly drafting jury charges and more, say Eric Fues and Maximilienne Giannelli at Finnegan.
Draft legislation in New York seeks to limit banks' liability related to Libor's imminent wind-down, which could imperil consumers by restricting their ability to sue for what could end up being billions in losses, says Ben Steinberg at Robins Kaplan.
Recent consumer group complaints against fintech companies' educational tools underscore the danger of stumbling into unfair, deceptive, or abusive acts or practices claims from the Federal Trade Commission, Consumer Financial Protection Bureau and state attorneys general, say attorneys at Buckley.
The outrage over the life-altering consequences of decisions being made around state bar exams during the COVID-19 pandemic has highlighted the classism built into the exam, and the legal profession should take this moment to reevaluate how new attorneys are licensed, say Naomi Shatz and Katherine Dullea at Zalkind Duncan.
Mediation is a process with defined stages, but the rise of virtual mediation may inject changes into each stage that may soon spread to in-person mediations and influence the expectations of participants, says Wynne Carvill at JAMS.
Commercial property assessed clean energy financing, available in many states, can provide owners in the hospitality industry with the liquidity to weather the COVID-19 crisis and recovery period, creating a mutual win for debt and equity stakeholders, say Michael Zukerman at Warshaw Burstein and Peter Griffith at Whitestone Realty.
Amid the pandemic, vendor companies should reassess standard business practices, including delinquency protocols, to minimize preference claim exposure should a customer file for bankruptcy, say Joel Cohen at Stout and Howard Magaliff at Rich Michaelson.
As the Second Circuit joined the Fifth Circuit this month in prohibiting the use of a foreign discovery statute in aid of international private arbitration in the case of Guo, the Fourth and Sixth Circuits will likely see a disproportionate number of applications for Section 1782 discovery until the issue is taken up by the U.S. Supreme Court, say attorneys at MoloLamken.
In this brief video, Jennifer Klass and Valerie Mirko at Baker McKenzie discuss the intersection of the U.S. Department of Labor's recently reproposed fiduciary rule and compliance with the U.S. Securities and Exchange Commission's Regulation Best Interest and the Massachusetts fiduciary rule.
Allison Schoenthal and Robin Muir at Hogan Lovells discuss how New York Gov. Andrew Cuomo’s recent orders tolling the statute of limitations on mortgage collections may influence claims, including foreclosures, and further muddy the legal waters in this area.
Although the Paycheck Protection Program Flexibility Act and other recent CARES Act updates make it easier for applicants to qualify for loan forgiveness, several questions remain surrounding the program's implementation and how borrowers can maximize forgiveness, says Phil Jelsma at Crosbie Gliner.
The U.S. Department of Justice's new requirement of incorporating lessons learned from prior instances of misconduct into corporate compliance programs presents a dilemma for companies as such disclosures would provide the government a road map into how companies may be habitually violating applicable laws, say Paul Monnin and Caitlin Van Hoy at Alston & Bird.
With access to courthouses currently curtailed, it is worthwhile to reflect on the design considerations that go into making these buildings work for the legal profession, and how the COVID-19 crisis might leave its imprint on these public spaces, says Elisabeth Ross at Cozen O'Connor.
Reflecting on the Dodd-Frank Act's 10th anniversary, former Sen. Christopher Dodd at Arnold & Porter says that while the legislation has provided a good foundation for protecting consumers, it’s important to remember it was never meant to be the final word as a new crisis plagues the global economy.
A mediation agreement that promises to keep evidence confidential could result in a legal malpractice case for the mediator, and the risk has increased in the COVID-19 era of online sessions, says mediator Jeff Kichaven.