Swiss bank Zürcher Kantonalbank has agreed to pay $98.5 million after admitting to helping U.S. clients dodge taxes by letting them stash money in undeclared accounts that used code names and shell companies, Manhattan federal prosecutors announced Monday.
UBS AG asked a New York federal judge on Monday to dismiss Bloomberg's suit alleging that it unlawfully redistributed proprietary data through its portfolio analysis and risk management software, saying that England — the place where the disputed actions of UBS Delta took place in their entirety — is a more appropriate venue.
A man accused of trading at least six stocks based on insider tips about corporate transactions relayed to him from a Bank of America Corp. staffer pled guilty to a conspiracy charge in Manhattan federal court on Monday and faces a guidelines sentence of 18 to 24 months behind bars.
KKR & Co. is reportedly planning to locally list most of its Indian operations, Diebold Nixdorf tapped advisers to help it sell itself, and Agility has partnered up with private investment firm Centerbridge Partners to buy all or some of Abraaj.
Dentons announced Monday that it is combining with a Chilean firm, a move the firm's leadership boasted will further shore up its presence in Latin America and enable it to provide legal services to clients around the globe.
Peter G. Johnson, whose cocoa trading business Transmar went under after it deceived lenders out of more than $350 million, was sentenced to three years behind bars by U.S. District Judge Jed Rakoff on Monday, with the judge weighing the loss against Johnson’s life of good works.
The estate of a Wells Fargo worker fired after a past fraud conviction came to light did not show that the company’s implementation of a federal bar on employing those convicted of crimes of “dishonesty” violates federal age bias law, the Eighth Circuit said Monday.
A New York federal judge has paused a proposed class action that accuses a Deutsche Bank unit of improperly funding its defense in a residential mortgage-backed securities trustee suit using money from the same trusts it is alleged to have mismanaged, finding that it would be more efficient to resolve the trustee suit first.
A federal judge on Friday sentenced a man to more than eight years in prison for wire fraud and money laundering in connection with allegations that he falsely told investors he owned oil and gas leases in Montana, Texas and Oklahoma, including on the Blackfeet Indian Reservation.
The Seventh Circuit on Friday backed a lower court's decision that mortgage field servicing company Safeguard Properties LLC is not a debt collector and cannot be held to Fair Debt Collection Practices Act claims brought by a putative class of defaulted mortgage holders.
Lehman Brothers’ quest to hold a group of mortgage originators accountable for the $1.2 billion it paid to settle claims after their loans went belly up will stay in New York bankruptcy court, the judge overseeing the defunct investment bank’s Chapter 11 case said Monday.
Davis Polk & Wardwell LLP has advised the joint underwriters of a $5.5 billion note offering for Sands China Ltd. as the Las Vegas Sands Corp. subsidiary looks to repay its existing debt and invest in capital expenditures, the law firm said.
A New York federal judge has sentenced a former JPMorgan Chase & Co. personal banker to four years in federal prison, after he admitted he stole customer account information and used the information to make unauthorized withdrawals, according to the U.S. Department of Justice.
A post-verdict bid for acquittal by a former State Street Corp. vice president convicted of conspiracy and fraud for overbilling clients by millions was denied Monday by the Massachusetts federal judge who oversaw the case, saying he had heard the executive’s arguments before.
Lawyers who have appeared before the Virginia federal judge overseeing the fraud trial of former Trump campaign chair Paul Manafort offer two pieces of advice for arguing in his courtroom: Be prepared. Be concise.
A divided Third Circuit panel rejected arguments Monday that the Consumer Financial Protection Bureau had too broadly defined the scope of its investigation as it sought documents from Heartland ESCI about potential improprieties in servicing of student loans.
The dissolution of a five-year-old bar group marks the latest setback for disabled attorneys, who often find little support while navigating an inhospitable industry.
In a series of interviews, lawyers tell Law360 how even well-intentioned professors can create barriers, how inclusivity can help a firm’s litigation prowess, and how “inspirational” can be a dirty word.
A former Federal Savings Bank officer on Friday provided some of the closest evidence yet connecting Paul Manafort's alleged bank and tax fraud to President Donald Trump's 2016 campaign, testifying that bank chief Stephen M. Calk took an uncomfortably personal interest in $16 million in loans to Trump's former campaign manager.
Charles Schwab Corp. on Thursday defended its revived and amended claims against a slew of the world’s largest banks over their alleged manipulation of the London Interbank Offered Rate, telling a New York federal judge that it’s tightened up its complaint enough for the case to proceed.
A New York state court's decision in HH Cincinnati Textile v. Acres Capital Servicing demonstrates the dangers of combining a mortgage loan with a pledge of equity, which can result in years of "clogging" litigation for the lender, say Steven Herman and Audrey Nelson of Cadwalader Wickersham & Taft LLP.
A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.
After years of bearing witness to an influx of Telephone Consumer Protection Act litigation, reading nearly every TCPA opinion issued by the federal courts and talking with countless businesses, my conclusion is that the TCPA fails to reach its primary goal of protecting consumers from unwanted calls, says David Carter of Innovista Law PLLC.
In 1993, Ruth Bader Ginsburg was confirmed to the U.S. Supreme Court, and I began my two-year clerkship with her. In her first opinion as a justice, and in dozens since, Justice Ginsburg reminded us how the law needs to operate if equality is to be a reality, says Margo Schlanger, a professor at the University of Michigan Law School.
As a result of waning federal involvement, states have increased their roles in the regulation and litigation of private student loans, and servicers and lenders now confront an amorphous environment policed by a diverse cast. And with student loan defaults rising, state enforcement activities may not be the only increase in litigation the industry sees, say attorneys at Troutman Sanders LLP.
The Financial Stability Oversight Council has issued a proposed decision that would approve a transaction through which Zions Bancorporation, a bank holding company, would merge into its national bank subsidiary, Zions Bank. The transaction would eliminate the costs and redundancies associated with having two federal banking regulators, say V. Gerard Comizio and Nathan Brownback of Fried Frank Harris Shriver & Jacobson LLP.
Neither the Federal Rules of Civil Procedure nor most state procedure codes expressly address whether, in what circumstances, or how a party may use technology-assisted review to fulfill its disclosure obligations. A new rule introduced last week by the Commercial Division of the New York Supreme Court aims to fill that gap, say Elizabeth Sacksteder and Ross Gotler of Paul Weiss Rifkind Wharton & Garrison LLP.
The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.
Retailers and others with consumer websites that support physical sales facilities are being hit with lawsuits claiming that their websites exclude the visually impaired in violation of federal law. But thus far, federal courts have disagreed on whether a website is a “place of public accommodation,” say Alan Behr and Rachel Bandli at Phillips Nizer LLP.
After a four-day jury trial, an Ohio federal judge ruled this week that the Consumer Financial Protection Bureau failed to prove that debt collection law firm Weltman Weinberg & Reis Co. LPA had misled consumers by sending them demand letters. The decision calls into question the CFPB's authority to investigate or bring enforcement actions against collection law firms, says Joann Needleman of Clark Hill PLC.