An investor in a bankrupt Illinois information technology company agreed on Thursday to pay the U.S. Securities and Exchange Commission $450,000 after he allegedly aided former top company executives in a fraud scheme to embezzle $4.1 million.
TCF National Bank has agreed to pay $30 million to resolve claims brought by the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency over the Minnesota-based bank’s marketing and sale of overdraft services.
A New York debt collector has agreed to a more than $22.5 million suspended judgment entered Thursday in a deal resolving its portion of a suit brought by the Federal Trade Commission and New York attorney general accusing it and two other firms of deceptive and abusive practices.
Boston-based State Street Corp. on Friday said it agreed to buy privately held Charles River Development for $2.6 billion in cash, a deal the bank said will help it provide asset managers and owners with a “global front-to-back platform.”
Eleven banks accused by fintech firm trueEX LLC of illegally boycotting its interest rate swaps platform and funneling business to an exchange they operated asked a Manhattan federal judge on Thursday to dismiss the suit, saying trueEX’s case is weaker than those of similar businesses in the multidistrict litigation.
Eleven firms will steer initial public offerings by 11 companies that are projected to raise more than $3.3 billion during the week of July 23, led by an estimated $1.5 billion offering from a Chinese e-commerce giant, potentially setting up a furious finish for the month.
Former Trump campaign chairman Paul Manafort, whose trial on a dozen charges of bank and tax fraud is scheduled to begin in Virginia federal court Wednesday, has aggressively pushed back against the Office of Special Counsel’s allegations since his indictment, and experts told Law360 they expect him to use every legal tool he can to keep evidence away from jurors and cast doubt on the evidence put before them.
The last week has seen a slew of consumer goods distributors and insurers sue shipper MSC Mediterranean, a Nigerian bank take on one of the country's politicians and businessmen and U.S. tech company Ivanti lodge a claim against the venture capital firm it bought a digital workplace startup from.
The U.K.’s competition watchdog said Friday that Experian’s proposed £275 million ($385 million) acquisition of a U.K.-based consumer credit data organization could harm competition because the companies are the two biggest providers of free credit scores in the U.K.
A federal judge in Minnesota on Thursday dismissed Wells Fargo retirement plan participants' claims without a chance to revise, finding that their suit over losses the plans suffered after the bank copped to unethical sales practices doesn't fall under the Employee Retirement Income Security Act.
The former UBS AG trader being sued by the Commodity Futures Trading Commission for allegedly spoofing in precious metals futures markets has reached a tentative deal to settle the agency’s suit, according to a joint filing in Connecticut federal court on Friday.
The D.C. Circuit on Friday reversed the dismissal of certain terrorism liability claims against Hezbollah and an Iranian bank related to rocket attacks against Israel, saying a district court failed to address necessary jurisdictional issues before ruling, but affirmed the dismissal of tort claims against the bank, citing a recent high court decision.
In the year since a Florida federal judge became the first to find that a company’s website violated a visually impaired customer’s rights under the Americans with Disabilities Act, the ruling has been both an inspiration and “bully stick," spurring a surge in litigation that attorneys say could wind up in the U.S. Supreme Court.
Three defendants accused of taking a total of $5 million in illegal profits from trades based on tips from a former Bank of America technology consultant are planning to plead guilty, a Manhattan federal judge heard on Friday, leaving one man on deck to stand trial.
The U.S. Securities and Exchange Commission said Friday that German banking giant Deutsche Bank will pay nearly $75 million to settle allegations it mishandled the pre-release of American depositary receipts, U.S. securities that represent shares in foreign companies.
A California federal judge on Thursday dismissed a former Wells Fargo Bank NA employee’s suit alleging he was fired for failing to meet the bank’s lofty sales targets, saying he waited too long to file his complaint.
An attorney who reportedly tried to trick Midland Credit Management Inc. into violating the Fair Debt Collection Practices Act and was sanctioned for bringing frivolous litigation over $131 lost his appeal Thursday when the Second Circuit affirmed a lower court decision tossing the suit.
A former investment adviser from Cape Cod, Massachusetts, stole more than $3.3 million from her clients through a variety of schemes, including forging withdrawal requests, forging wire and check requests and tricking a client into withdrawing money from a retirement account, the U.S. Securities and Exchange Commission said Thursday.
A Utah federal judge has ordered nearly $10.3 million in restitution and a $681,000 civil penalty against an Estonian foreign exchange trader that has yet to make a showing in the suit accusing it of conducting unregistered trades with U.S. customers, the U.S. Commodity Futures Trading Commission announced Thursday.
A former employee of Capital One’s automotive lending unit told a Texas federal court Thursday that he was wrongly fired for being late on two days for reasons that were related to his cancer.
Less than three weeks after the U.S. Supreme Court decided Lucia v. Securities and Exchange Commission, President Donald Trump signed an executive order applying the court’s rationale in Lucia to the hiring — and firing — of all administrative law judges in the federal government, making them entirely beholden to the heads of their agencies or the president for their jobs, says Brian Casey of Barnes & Thornburg LLP.
Crypto markets experienced a sharp downturn in the first half of 2018. But strategically positioned blockchain-related patent and trademark rights can help keep a company financially and technologically relevant through even turbulent times, say attorneys with Finnegan Henderson Farabow Garrett & Dunner LLP.
Attorney Randy Maniloff recently sat down with former Sen. Christopher Dodd at his new office at Arnold & Porter in Washington, D.C. The goal? To discover things we might not know about the author of some of the most important legislation of the last few decades.
In Scoma Chiropractic v. Dental Equities, a junk fax case brought against MasterCard International, a Florida federal court recently issued a stay pending a ruling from the Federal Communications Commission. The decision may have ripple effects in other pending Telephone Consumer Protection Act actions, say Lewis Wiener and Alexander Fuchs of Eversheds Sutherland.
As financial organizations must now be included in the same Illinois unitary return as other services providers, it is important that businesses understand their classification and the resulting differences in how receipts must be apportioned to the state, says Christopher Lutz of Horwood Marcus & Berk Chtd.
People with certain personality traits tend to use certain words. A computer analysis of Judge Brett Kavanaugh’s D.C. Circuit opinions reveals that he is highly extraverted, which means that he would be a prominent voice on the U.S. Supreme Court, says Matthew Hall, a professor at the University of Notre Dame.
The U.S. Supreme Court's ruling last month in Lucia that an administrative law judge at the U.S. Securities and Exchange Commission is subject to the Constitution's appointments clause does not bode well for ALJ rulings relied on by the Consumer Financial Protection Bureau, say attorneys with Hunton Andrews Kurth LLP.
In Lorenzo v. U.S. Securities and Exchange Commission, the U.S. Supreme Court will consider whether a misstatement claim that does not meet the elements set forth in the court’s 2011 Janus decision can be repackaged and pursued as a fraudulent scheme claim under Rule 10b-5. A number of possible outcomes present themselves, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
The recent focus on pay equity and employers’ pay practices has heightened the need to consider equal employment opportunity outcomes in performance ratings systems. Lisa Harpe and Sarah Gilbert of DCI Consulting Group discuss the current legal environment and proactive steps to examine performance ratings in the context of evaluating pay equity.
An educated guess puts the number of new litigation funders launched in the past 18 months at 30 — an astonishing number, with more to come. Is this a blessing to our legal system or something more akin to tulip mania? Maybe both, says Ralph Sutton, founder and CEO of litigation funding firm Validity Finance LLC.