Jurors in the antitrust trial of three former foreign exchange traders for Citigroup, Barclays PLC and JPMorgan Chase & Co. units on Friday heard a recording of a former Barclays trader voice concern about his allegedly collusive trading behavior in the forex market as prosecutors wrapped up their witness testimony.
The U.S. Securities and Exchange Commission is investigating Honeywell International Inc.’s accounting of liability for asbestos claims after the company raised its estimate earlier this year by $1.1 billion, the company revealed in its securities filing Friday.
An Oklahoma couple claim they lost $335,000, which they invested in the alleged Ponzi scheme run by now-bankrupt Woodbridge Group LLC just before the company collapsed, on the word of an unlicensed investment adviser working for their accounting firm.
The last week has seen Allianz sue Maersk, a Barclays request to transfer part of its banking business and another filing between two sides fighting over payouts from a £200 million RBS rights holders settlement. Here, Law360 looks at those and other new claims in the U.K.
A Foot Locker Inc. stockholder has sued the company’s board of directors, saying the group hid knowledge that the retailer’s brick-and-mortar stores were suffering because of online competition, which led inflated stock prices to plummet when the truth came out.
The founders of pet insurance business Fetch Inc. filed suit in Delaware Chancery Court seeking to rescind an amended deal with an underwriter, claiming it is bad for the business and was made after investor groups led by prominent businessman Vernon W. Hill II and hedge fund billionaire Steven Cohen failed to secure required approval.
Former executives at zinc producer American Zinc Recycling LLC urged a Delaware federal court Thursday to reject a magistrate judge's recommendation to keep alive investors’ suit over alleged misrepresentations that inflated stock prices, saying the judge ignored the substance of their dismissal bid.
Goodwin Procter LLP has added two former Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP attorneys as partners to its technology companies practice in San Francisco, the firm has announced.
A con man who raised $13 million by claiming to be a hedge fund manager and heir to the Genovese Drug Stores family fortune pled guilty to securities fraud in Manhattan federal court on Friday as part of a deal that calls for federal guidelines of 10 years or more in prison.
A group of Singapore-based banks, along with one based in Hong Kong, urged a New York federal judge on Thursday to reconsider a ruling that kept them in a suit over an alleged conspiracy to manipulate the Singapore Interbank Offered Rate, arguing that they don’t trade in the instruments at issue.
Reed Smith LLP has added a former federal white collar crime prosecutor to its global regulatory enforcement practice in Chicago, the firm has announced.
Delaware lawmakers caused a small stir earlier this month when they confirmed two veteran female attorneys to the state’s Court of Chancery, expanding the nationally important court by two seats while roughly closing the gender gap among its now-seven members for the first time.
A man who invested nearly $140,000 worth of bitcoin into a Dublin-based cryptocurrency startup stepped forward to claim he had the largest financial interest in a proposed class action against the company, and a Pennsylvania federal court on Thursday certified him as the new lead plaintiff and Levi & Korsinsky LLP as lead counsel in the suit.
A Manhattan federal judge on Friday hit former fuel cell CEO Danny Pratte with a three-month prison sentence for misleading investors into thinking his Terminus Energy company was ready to start production, crediting Pratte's efforts to cooperate with law enforcement and handing down a short sentence for the $8 million fraud.
The U.S. Securities and Exchange Commission on Thursday urged a California federal judge to seek more than $23.9 million from companies owned by a businessman who had been accused of misappropriating funds through an EB-5 scheme, telling the judge that the alleged fraud was “not in dispute.”
The U.S. Securities and Exchange Commission said Thursday it launched a new office intended to improve communication with entrepreneurs and their advisers about regulations relating to the booming field of financial technology, including blockchain and initial coin offerings.
A former lobbyist from South Carolina has been arrested on charges he tried to impede an investigation into a multimillion-dollar investment fraud scheme that has already led to 10 others facing criminal charges, federal authorities announced Friday.
The receiver for the failed Jay Peak EB-5 project asked a Florida federal judge Friday to approve a settlement ending the suit against a former ski resort owner over a $350 million investment fraud scheme, calling the deal an "important step" in allowing the receiver to sell the property and compensate investors.
Ocwen Financial Corp., Wells Fargo and others urged a New York federal judge to toss a proposed Employee Retirement Income Security Act class action alleging that Ocwen profited by pushing homeowners into foreclosure during the financial crisis, arguing that a pension fund couldn’t bring claims on behalf of other plans.
Nearly one-third of Labaton Sucharow LLP’s open cases came to the firm through referral arrangements, according to a filing Thursday in Massachusetts federal court, offering a peek behind the curtain as the firm faces scrutiny for a payment to a Texas attorney uncovered in the ongoing State Street settlement fee fight.
The process of applying for litigation financing isn’t difficult, but few do it right the first time. Following five steps in your application process will help make sure litigation funders are convinced of the value of your company's legal claims, says Molly Pease of Curiam Capital LLC.
A new California law will allow privately held companies to use blockchain technology for stock issuance and other corporate records. However, corporations should be cautious about moving into this relatively uncharted territory, say Sara O’Connell and Riaz Karamali of Pillsbury Winthrop Shaw Pittman LLP.
While the Florida Revised Limited Liability Company Act allows LLC members to bring a derivative action without first making a demand, the same cannot be said of the Florida Business Corporation Act. And a recent proposal to amend the FBCA doesn't do enough to create a uniform demand futility rule, says Andrew Polenberg of Becker & Poliakoff PA.
With the recent ruling in My Big Coin Pay that bitcoin and other cryptocurrencies are “commodities,” bankruptcy courts will likely have greater discretion regarding how to treat the valuation of cryptocurrencies in a variety of contexts, say Joanne Lee Molinaro and Susan Poll Klaessy of Foley & Lardner LLP.
In an era when law firms are fighting for business and clients can dictate the terms of the relationship, "value" has become a moving target. Firms that take a proactive approach by using strategies designed to articulate value over time will gain the competitive advantage, says Dan Tacone at Intapp Inc.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Pier D'Angelo, chief pricing and practice officer at Allens.
Earlier this year, the U.S. Securities and Exchange Commission proposed amendments to the rules governing its whistleblower incentive and protection program. Kathleen Massey of Dechert LLP examines the key issues raised by the public comments filed in response, and what to expect from the final rules.
The insider trading action against certain Fortress securities traders is one more example of the U.S. Securities and Exchange Commission relying upon analytical data to pursue what may be suspicious activity. But a New Jersey federal court's recent decision in the case reinforces that suspicious trades are not enough, say attorneys with DLA Piper.
A clearly delineated regulatory framework would go a long way in providing the certainty necessary for the digital asset economy to thrive, analogous to the stabilizing effect the formation of the U.S. Securities and Exchange Commission had on the stock market after the 1929 crash, says Anna Fridman of Spring Labs.
In the two years since the American Bar Association's controversial anti-discrimination and harassment rule, only one state has adopted it, while numerous state supreme courts, state attorneys general and legal groups have correctly rejected Model Rule 8.4(g) as a threat to lawyers' First Amendment rights, says Bradley Abramson, an attorney with Alliance Defending Freedom.