A Connecticut federal judge on Monday axed the criminal spoofing and commodities fraud counts facing a former UBS AG trader accused of scheming to manipulate the precious metals market, blasting the government’s handling of the case and refusing to scrap its remaining conspiracy charge in order to let federal prosecutors have a mulligan.
A former Skadden Arps Slate Meagher & Flom LLP lawyer pled guilty Tuesday to lying to officials in Special Counsel Robert Mueller’s investigation into Russian meddling in the 2016 presidential election.
Morgan Stanley, Goldman Sachs and the other underwriters of LendingClub Corp.'s $1 billion initial public offering for now don't have to produce roughly a thousand documents sought by a class of investors suing the peer-to-peer lending company for alleged stock fraud, a California federal judge ruled Tuesday.
The U.S. Supreme Court on Tuesday denied a plea from investors hoping for reconsideration of their case challenging the federal government’s conservatorship of Fannie Mae and Freddie Mac, reinforcing a lower court’s ruling that the Federal Housing Finance Agency cannot be sued over its role in managing the mortgage finance duo.
A New York federal judge on Friday largely left intact a suit brought by Wilmington Trust National Association over a $464 million loan guaranty from the late Chesapeake Energy CEO and part-owner of the NBA's Oklahoma City Thunder, finding the court has jurisdiction to hear the case.
The statute of limitations on a motion for relief from a federal court judgment starts running when the court issues its initial decision, and the clock doesn’t reset when the court issues its reasoning afterward, a Second Circuit panel held Friday in an appeal of settling title to property forfeited in a $10 million tax fraud case.
HSBC Holdings PLC could be hit with fines exceeding $1.5 billion from investigations around the world into allegations of tax evasion and money laundering at its Swiss private-banking subsidiary and other operations, according to the bank's annual report published Tuesday.
Parliament’s Treasury Committee on Tuesday published an in-depth report on the Royal Bank of Scotland PLC, revealing "systematic" inappropriate treatment of small and midsized businesses, thwarting efforts by the Financial Conduct Authority to keep the document under wraps.
The U.S. Supreme Court on Tuesday rejected an investor’s appeal contesting the Internal Revenue Service’s disallowance of tax benefits being claimed from a tax shelter known as “BLIPS” that was promoted by KPMG.
Hundreds of investors in the Stanford Ponzi scheme urged the Fifth Circuit on Monday to overturn a $120 million deal settling claims that broker Willis Ltd. fraudulently induced their investments, arguing that the settlement funds inexplicably go to the Stanford receiver and the terms of the deal indefensibly bar further claims against Willis.
The Federal Circuit on Tuesday upheld U.S. District Judge Rodney Gilstrap’s decision to invalidate claims in four Integrated Technological Systems Inc. patents tied to money transfers in the newest of several high-profile decisions over how to interpret the U.S. Supreme Court’s Alice test.
A High Court judge ruled Tuesday that a claim filed by Citibank NA over the status of €290 million ($356 million) of debt securities will be decided in the English courts, dismissing the arguments from several defendants that New York would be a more appropriate jurisdiction.
Four companies, spanning the life sciences, technology and banking industries, have filed initial public offerings that are preliminarily estimated to raise $300 million, adding new potential deals to an IPO pipeline that has thinned out in recent weeks.
Harbor Associates LLC has picked up a pair of California office properties through separate transactions, one through a joint venture with private equity shop Blue Vista Capital Management and another with Goldman Sachs, for a total of $56 million, the Long Beach-based firm announced on Monday.
Deutsche Bank is planning to list its asset management arm next month, Booker investors are being urged to reject Tesco's $4.6 billion takeover offer, and the Commercial Bank of Qatar is looking to sell its stake in United Arab Bank to Tabarak Investment.
Turning down calls for mediation in the Chapter 11 case for Pacific Drilling, a New York bankruptcy judge on Tuesday questioned the company’s reorganizing efforts to date and said he expects quick signs of progress in its restructuring plan talks with creditors.
Puerto Rico’s ailing power utility on Monday was authorized to accept a $300 million unsecured loan from the commonwealth to stave off an imminent blackout, after the utility’s creditors successfully fought off an earlier $1 billion secured loan proposal.
Kelly McNamara Corley, who has served as executive vice president, general counsel and secretary of Discover Financial Services since 2008, shared with Law360 how the company prioritizes diversity and inclusion and what keeps her up at night, as technology continues to develop rapidly.
Rabobank's $368 million resolution of an investigation into the bank's anti-money laundering program has several parallels with other recent Bank Secrecy Act actions that financial institutions may wish to consider in assessing their compliance programs, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.
A number of significant corporate resolutions were reached in 2017, which have provided guidance on the level of cooperation expected by criminal and civil authorities, primarily in Europe. Meanwhile, the divergent approaches to legal privilege taken by courts in different jurisdictions provide significant challenges to those conducting cross-border internal investigations, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.
Six years ago, Skadden associate Alex van der Zwaan was just one of several junior members of a firm team that wrote a controversial report about the prosecution of an ex-Ukrainian prime minister — a lucrative job arranged by Paul Manafort, now a Russia probe defendant. But van der Zwaan’s client list belies any junior lawyer status.
Pro Bono Spotlight
Afghan native Abdul Samey Honaryar should not have spent a year detained in the custody of the same government he served as a war zone translator, his Akin Gump Strauss Hauer & Feld LLP attorneys told Law360.