Shares of cybersecurity startup Zscaler Inc. more than doubled in a sizzling debut on Friday, one day after the technology “unicorn” priced an upsized $192 million initial public offering above its projected range, representing the largest of four IPOs during the week of March 12.
The owner of a company that helps employers provide legal services for their employees was charged with wire fraud in Pennsylvania federal court Friday for allegedly falsifying the company’s financial health to coax a $30 million line of credit out of potential lenders.
A Wilmington Trust Corp. backlog of unacknowledged, past due commercial loans included 142 debts worth $177.3 million that were six months to three-and-a-half years past due when 2009 ended, a witness said Friday during a Delaware fraud and securities trial for four bank executives.
The U.S. Securities and Exchange Commission has affirmed the Financial Industry Regulatory Authority’s order barring a former FINRA-member firm representative over harassing, threatening and deceptive communications to his former coworkers, saying the bar was neither excessive nor oppressive.
A California federal judge on Thursday tentatively dismissed with prejudice the latest attempt by investors to sue the holding company of BofI Federal Bank for allegedly making false or misleading statements to the public, finding the investors still hadn’t linked stock value losses to the alleged misrepresentations.
A group of investment funds seeking to hold Merrill Lynch, Deutsche Bank and Credit Suisse responsible for losses stemming from the infamous 2001 collapse of Enron Corp. have urged a New York federal judge to let their 15-year-old case proceed to trial, battling back against the banks’ latest efforts to slip the suit.
A California judge said Friday she’ll approve Wells Fargo Bank NA’s $27.5 million settlement resolving a consolidated action brought by the bank’s hourly Golden State bankers and sales representatives, who claim they were required to work more than 40 hours a week without overtime pay and were shorted meal breaks.
The last week has seen the Force India Formula One team sue Santander, the Fiat Group launch an action against its longtime pension scheme administrator and Squire Patton Boggs, and a Scipion fund take on a commodities warehouser. Here, Law360 looks at those and other new claims in the U.K.
A Fifth Circuit ruling vacating the U.S. Department of Labor’s fiduciary rule for retirement account advisers has created confusion across a broad swath of the U.S. investment landscape that will only be resolved once the DOL decides whether to drop the case or pursue it on appeal, legal experts said Friday.
A Florida federal court has frozen the assets of four alleged scammers accused of telling investors that they could turn $100 of digital currency into $80,000 per month, while setting up a pyramid scheme that enriched only themselves.
Texas metals firm Elemetal LLC has pled guilty to having an inadequate anti-money laundering program and has agreed to pay $15 million and to stop buying precious metals overseas, the company and Florida federal prosecutors said Friday.
It's been a busy few weeks at the International Centre for Settlement of Investment Disputes, with new claims in the construction, energy, banking, media and tourism industries filed against the republics of Azerbaijan, Colombia and Turkey, the Kingdom of Morocco, and the State of Kuwait. Here are the latest claims at ICSID you need to know.
In this monthly series, legal recruiting experts at Major Lindsey & Africa interview management from top law firms about navigating an increasingly competitive business environment. Here we feature Durgesh Sharma, chief information officer at Littler Mendelson PC.
In this week’s Taxation With Representation, Experian bought ClearScore for $385 million, SJW Group and Connecticut Water Service merged in a $750 million deal and Legal & General Group acquired the remaining stake of Cala Homes for $884.7 million.
Two investors in Credit Suisse’s short-term notes inversely related to the stock market’s volatility index have filed putative class actions in New York federal court alleging the bank misrepresented the value of the notes during a critical time of steep price drops and substantial investor losses.
The Bank of England told lawmakers and regulators in the U.K. and Brussels on Friday that they need to do more to prevent “material risks” from Brexit disrupting Britain’s financial sector.
A split Fifth Circuit panel on Thursday vacated the U.S. Department of Labor’s fiduciary rule for retirement account advisers, with the majority finding the agency overstepped its authority and that the Obama-era rule’s redefinition of "fiduciary" was unreasonable.
Paul Manafort on Wednesday made his latest move to defeat a slew of money laundering and foreign lobbying charges brought by Special Counsel Robert Mueller, saying in court filings that Mueller’s appointment improperly gave him a “blank check” to investigate anything arising from the Russia investigation, however attenuated.
The Ninth Circuit on Thursday refused to revive a bank’s contention that a California district attorney can’t hire Baron & Budd PC and other firms to prosecute allegations of customer deception, ruling for the first time that the government can pay private counsel to pursue civil penalties.
Discover, Visa, MasterCard and American Express have for now thwarted class certification in a suit alleging they colluded to shift fraud risk onto retailers during the U.S. rollout of microchip-enabled credit cards, as a New York federal judge voiced dissatisfaction with “arbitrary” proposed time periods during which the alleged actions occurred.
Regulators have recently increased their efforts in cracking down on spoofing, yielding an increasing number of criminal indictments and civil settlements. However, an important challenge in identifying spoofing is separating legitimate calculations from those that were intended to manipulate the market, say Ilan Guedj and An Wang of Bates White LLC.
Venmo’s settlement with the Federal Trade Commission over privacy concerns should serve as a cautionary tale for all software and application development companies that are seeking to create innovative and user-friendly products, says Jason Sarfati of Joseph Greenwald & Laake PA.
What is perhaps more interesting than the number of blockchain-related patent filings, or their subject matter, is the number of assignees for these patents, says Nelson Rosario of Marshall Gerstein & Borun LLP.
As financial services and fintech firms seek to reduce their vulnerability to cyberattacks and mitigate against regulatory and litigation exposure, one key inquiry is the extent to which a company’s cybersecurity controls are consistent with industry best practices. In this regard, a recent report from the World Economic Forum provides a valuable reference point, say Rishi Zutshi and April Collaku of Cleary Gottlieb Steen & Hamilton LLP.
Under the U.S. Department of Justice's new marijuana enforcement strategy, the DOJ is unlikely to begin prosecuting marijuana growers and distributors who are operating in compliance with state law. The DOJ will likely prosecute the most egregious violators of state law, say Gerald Sachs and Evan Shea of Venable LLP.
The Federal Reserve’s new leadership has made clear that while it supports certain changes to Dodd-Frank and the related regulations, it broadly supports the post-crisis regulatory framework. With that background, we focus on the Fed’s anticipated views of five areas where reform is possible, say attorneys with Sidley Austin LLP.
There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.
Given the mainstream use of bitcoin and the “staying power” of this cryptocurrency, bankruptcy practitioners need to prepare to see bitcoin as part of the assets in future bankruptcy cases. The volatility of bitcoin value, however, will require bankruptcy courts and parties to come up with creative solutions, say Erin Illman and Robert Cox of Bradley Arant Boult Cummings LLP.
Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.
The U.S. Supreme Court last week held in Village at Lakeridge that the appropriate standard for determining nonstatutory insider status in bankruptcy is the clearly erroneous standard that was applied by the Ninth Circuit. But the concurring opinions, which address an issue that was not before the court, appear to be more significant, say Steven Wilamowsky and Aaron Krieger of Chapman and Cutler LLP.