U.S. prosecutors told a federal appeals court Thursday that they were withdrawing their request for a longer sentence for Mehmet Hakan Atilla, the Turkish banker sentenced to 32 months in prison despite prosecutors' request that he serve 15 years for helping skirt sanctions against Iran.
An early investor in Chinese music streaming service Tencent Music who claims he was cheated out of an equity stake in the company has asked a New York federal judge to allow him to collect evidence from several U.S. banks for a pending arbitration in China.
A San Francisco federal judge ruled Friday that Chase must face a proposed class action over its alleged failure to comply with a California mortgage escrow interest law, finding the preemption once enjoyed by the failed federal thrift originator of the plaintiffs' mortgages doesn't cover Chase's subsequent handling of the loans.
A California financial services executive was arrested while trying to board a flight out of the country and charged with wire fraud for allegedly running a phony student loan debt relief scheme, the U.S. Department of Justice announced in a statement issued Thursday.
A Lebanese businessman who the U.S. Department of Treasury claims has ties to the terrorist organization Hezbollah entered a guilty plea Thursday to a money laundering charge stemming from an attempt to avoid U.S. sanctions placed on him, the U.S. Department of Justice said.
Four Wilmington Trust executives found guilty in a nearly $200 million federal securities fraud case in May have appealed for no, or little, prison time instead of the up to nine- and 11 ¼-year recommendations issued by prosecutors, according to documents made public on Friday.
The Second Circuit has been asked to hear an appeal of a New York federal court ruling awarding more than $300 million in attorneys' fees to the firms representing an investor class in securing $2.3 billion in settlements over claims 15 banks plotted to rig benchmark exchange rates in the foreign exchange markets.
The Consumer Financial Protection Bureau on Thursday settled claims that State Farm Bank FSB improperly obtained consumer reports and gave inaccurate information to credit-reporting agencies, ordering the federal savings association to implement corrective policies without any fines imposed — a move that's drawn the ire of consumer advocates.
A Texas federal court has jurisdiction to hear whether several banks infringe a licensing company’s patents covering electronic banking procedures because the company sent demand letters to the institutions, which are located in the district, the Federal Circuit held Friday.
Hogan Lovells has added a partner in New York from Milbank with experience in restructuring, export-import deals, high-yield debt and liability management.
Eight law firms will guide five initial public offerings that could potentially raise more than $1.5 billion combined during the week of Dec. 10, possibly the last wave of IPOs for the year, led by an estimated $1.1 billion offering from streaming giant Tencent Music Entertainment Group.
A New Jersey federal judge upheld the bulk of a proposed class action alleging TD Bank and its executives made filings with the U.S. Securities and Exchange Commission that didn't disclose how certain revenue growth was spurred by illegal business practices, ruling that the investors adequately pled that confidential witnesses supported their claim.
Morgan Lewis' J. Kyle Poe, a self-proclaimed "elder millennial," created a client management platform to streamline the firm's work in asbestos litigation that is now used across practice areas, making the firm's business more efficient and upping its ability to attract clients through innovative fee arrangements, earning him a spot on our 2018 list of Data-Driven Lawyers.
A U.S. Tax Court decision that disallowed almost $28 million in losses by a company, finding the claim lacked economic substance, has been upheld by an Eleventh Circuit panel.
A Belgian national who was indicted by a federal grand jury for a scheme to convince law firms and charities to wire him money was arraigned in Boston federal court Friday, 22 months after a warrant was issued for his arrest.
President Donald Trump named Kirkland & Ellis LLP attorney William Barr as his pick to replace former Attorney General Jeff Sessions Friday, setting Barr up to reprise the role he served under late President George H.W. Bush.
The last week has seen an African import-export bank sue Nigerian airline Airik, Jaguar and several major insurers sue an auto shipping specialist and a Brazilian energy executive lodge a claim against a unit of Swiss bank Rothschild. Here, Law360 looks at those and other new claims in the U.K.
Attorneys for Intellectual Ventures LLC and JPMorgan Chase & Co. debated a claim of IV's cybersecurity software patent before a Federal Circuit panel Thursday, including offering dueling interpretations of the word "and."
Mick Mulvaney is leaving behind a Consumer Financial Protection Bureau that’s had some of the bark and bite taken out of it, but as Kathleen Kraninger steps up to become the agency’s next director, the consumer financial watchdog hasn’t necessarily gone to sleep, financial services attorneys told Law360.
A Connecticut federal judge on Thursday agreed to dismiss the U.S. Securities and Exchange Commission’s civil suit against former Jefferies Group LLC bond trader Jesse Litvak in the wake of the end of his five-year criminal case in which he was convicted twice but saw those convictions overturned.
Oral argument in Lorenzo v. U.S. Securities and Exchange Commission revealed clear divisions within the U.S. Supreme Court on the type of conduct that forms the basis of liability under Rule 10b-5, say attorneys with Alston & Bird LLP.
Changes in tariffs, tax law and bank deregulation present a confusing picture of short-term gains and long-term risk for real estate. Eric Rapkin of Akerman LLP takes a look at the industry's "winners" and "losers" following these developments.
With Kathy Kraninger now confirmed as the next director of the Consumer Financial Protection Bureau, attorneys with Mayer Brown LLP offer an in-depth look at how the agency has changed under acting Director Mick Mulvaney and what it may look like going forward.
Digital token issuers caught up in the onslaught of U.S. Securities and Exchange Commission investigations finally received some good news last month regarding token sales’ exposure to federal securities laws. The decision in SEC v. Blockvest is encouraging for a few reasons, say Michael Dicke and Eric Young of Fenwick & West LLP.
The recent Mossack Fonseca indictments and Deutsche Bank raid would not have been possible without the whistleblower behind the Panama Papers leak. But there is no incentive for rooting out the type of criminal money laundering revealed here, creating a large enforcement gap, say Eric Havian and Michael Ronickher of Constantine Cannon LLP.
In Anderson v. Credit One Bank, the Second Circuit declined to enforce a mandatory arbitration provision, despite a long-standing U.S. Supreme Court mandate. While Anderson seems to mark a departure for bankruptcy cases with arbitration provisions, it may simply reflect a narrow exception, says Deborah Reperowitz of Stradley Ronon Stevens & Young LLP.
The Airfox and Paragon settlements last month represent the U.S. Securities and Exchange Commission's acceptance of a new road map for initial coin offering issuers eager to remove the taint from past illegal offers. The approach is not perfect but signals a lighter regulatory construct, say attorneys with Paul Hastings LLP.
Last week, the Office of Foreign Assets Control took the significant step of adding two digital currency addresses to its list of identifiers for certain individuals related to an Iranian hacking enterprise. This should immediately alert entities that transact in digital assets, says Maxwell T.S. Thompson of Murphy & McGonigle PC.
Changes announced last week by Deputy Attorney General Rod Rosenstein will likely make it easier for a company to obtain cooperation credit in criminal and civil cases, while also potentially reducing some of the costs and burdens associated with complying with the prior U.S. Department of Justice policy, says John Nowak of Paul Hastings LLP.
When reading Tim Wu’s new book, "The Curse of Bigness: Antitrust in the New Gilded Age," lawyers, economists and historians will find its broad brush maddening, and the generalist reader will simply be misled, says D.C. Circuit Judge Douglas Ginsburg.