Fintech

  • September 17, 2024

    Skadden, Freshfields Guide Midea's $4B Hong Kong Listing

    Midea Group debuted on the Hong Kong Stock Exchange on Tuesday after the home appliance giant raised almost $4 billion in the largest initial public offering in the special administrative region of China since early 2021.

  • September 16, 2024

    CEO's AI Fraud Detection Tool Contract Was Fraud, Feds Say

    A former technology company CEO has pled guilty to a charge that he cooked his company's books and raised tens of millions of dollars from investors off phony claims that an artificial intelligence program his firm developed was being used to spot digital ad fraud, the Manhattan U.S. Attorney's Office said Monday.

  • September 16, 2024

    Milbank Taps SEC Chief Litigation Counsel As DC Partner

    Milbank LLP said Monday it has hired the U.S. Securities and Exchange Commission's chief litigation counsel as a new partner in Washington, D.C.

  • September 16, 2024

    UK Banks Push BoE To Collaborate On Payments Innovation

    Britain's leading banks called Monday on the governor of the Bank of England to collaborate with private firms on improving payments innovation, simplifying regulation and infrastructure.

  • September 16, 2024

    Apple App Developers Bid To Go Ahead In £785M Class Action

    A lawyer for a consumer advocate told Britain's antitrust tribunal on Monday that a proposed £785 million ($1 billion) claim by app developers against Apple over payments for commission should be allowed to go ahead as a class action.

  • September 16, 2024

    IRS Cancels Hearing On 'Basket Contract' Transactions Rule

    The Internal Revenue Service canceled a hearing on proposed rules that would flag what are known as basket option contracts as potentially abusive listed transactions, according to a notice released Monday.

  • September 13, 2024

    The 2024 Regional Powerhouses

    The law firms on Law360's list of 2024 Regional Powerhouses reflected the local peculiarities of their states while often representing clients in deals and cases that captured national attention.

  • September 13, 2024

    Bankman-Fried Lays Blame On Trial Judge In 2nd Circ. Appeal

    FTX founder Sam Bankman-Fried on Friday launched an appeal of his fraud conviction over the cryptocurrency exchange's historic collapse, issuing a broadside against the judge who oversaw his trial and saying FTX's debtor counsel Sullivan & Cromwell LLP acted as an arm of the prosecution.

  • September 13, 2024

    Kennedys Hires Cyber, AI Pro From Addleshaw In London

    Kennedys Law LLP has recruited a data protection, cybersecurity and artificial intelligence specialist from Addleshaw Goddard LLP as a partner in London, with the new arrival saying Friday she made the switch to take advantage of the firm's global reach.

  • September 13, 2024

    Trio Of BigLaw Mergers Expected To Drive More Deal Talks

    After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.

  • September 13, 2024

    Mortgage Co. CEO Gets 11 Years In Prison For Ponzi Scams

    A mortgage company owner was sentenced Thursday to 11 years and three months in prison for defrauding investors, a community bank and the government's pandemic relief program to cover gambling debts and personal expenses like luxury cars, Philadelphia's top federal prosecutor announced.

  • September 13, 2024

    High Court Sanctions £2.2B Deal For Network International

    Middle Eastern payments company Network International Holdings said on Friday that the High Court has sanctioned a £2.2 billion ($2.9 billion) takeover bid from Brookfield Asset Management Ltd.

  • September 13, 2024

    EU Finance Ministers Boycott Hungary Meeting Over Russia

    Most European Union finance ministers protested on Friday against what they see as Hungary's Russia-friendly politics by boycotting a meeting with their EU peers in the country's capital, Budapest.

  • September 13, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.

  • September 13, 2024

    Hardware Seller Is Withholding $10M In Fees, Tech Co. Says

    A technology company has claimed it introduced a Canadian hardware seller to confidential contacts looking to buy graphics processors, and the seller secured sales from them, but is now withholding around $10.5 million in referral fees.

  • September 13, 2024

    EasyGroup Claims 'EasyCargo' TM Threatens Its Brand

    EasyGroup has sued a courier price comparison website over its use of trademark "EasyCargo," as the owner of no-frills airline easyJet alleged that this threatens its family of "easy" TMs in its ongoing battle against what it calls "brand thieves."

  • September 12, 2024

    Wells Fargo Ordered To Overhaul Sanctions, AML Compliance

    Wells Fargo faces fresh restrictions on launching new products and entering new markets, and must beef up its compliance and monitoring efforts around sanctions, anti-money laundering and other international business risks, under an enforcement action announced Thursday by the Office of the Comptroller of the Currency. 

  • September 12, 2024

    Crypto Wallet Co. Beats Colo. Class Action Over $100M Hack

    The developers and owners of cryptocurrency application Atomic Wallet have beaten a proposed class action over a hack last year that stole roughly $100 million in customers' assets, with a Colorado federal judge saying the suit doesn't have a strong enough connection to the Centennial State to proceed there.

  • September 12, 2024

    Quinn Emanuel, Cohen Milstein Get $102M In Stock Loan Case

    A judge awarded $102 million in attorney fees to Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC for settling claims from investors that major banks colluded to avoid modernizing the stock loan market.

  • September 12, 2024

    Trading Firm EToro To Limit Crypto Sales, Pay $1.5M SEC Fine

    The U.S. Securities and Exchange Commission on Thursday ordered trading platform eToro USA LLC to pay a $1.5 million fine and stop U.S. customers from trading in all but the three largest crypto assets to settle the regulator's allegations that the firm operated as an unregistered broker and clearing agency.

  • September 12, 2024

    CFTC Can't Pause Decision To Allow Election Betting

    A D.C. federal judge on Thursday refused to stay a ruling that found the Commodity Futures Trading Commission overstepped its bounds by blocking an online trading platform from allowing users to place bets on the outcome of U.S. congressional elections.

  • September 12, 2024

    Crypto-Scam Victim Can't Trace Lost £2M To Thai Exchange

    A judge at a London court ruled Thursday that a victim of crypto-fraud had failed to trace the stolen money to an exchange in Thailand, the first ruling to deal with the status and treatment of cryptocurrency in English law after a full trial.

  • September 12, 2024

    Mastercard To Buy Recorded Future Security Co. For $2.65B

    Mastercard Inc. said Thursday that it plans to buy global threat intelligence company Recorded Future from software investor Insight Partners for $2.65 billion to bolster its cybersecurity offering.

  • September 11, 2024

    Litigation Spending To Rise As Cases Grow More Aggressive

    A substantial number of large companies are expecting to increase their litigation spending by double digits next year in the face of more complex and hard-fought cases — and they are more open to bringing in new legal talent to navigate the matters, according to a report released Thursday. 

  • September 11, 2024

    House Tax Panel OKs Repeal Of $600 Reporting Threshold

    The House Ways and Means Committee advanced several bills Wednesday, including one that would repeal a law requiring peer-to-peer payment platforms such as Venmo and PayPal to report aggregate payments of $600 or more.

Expert Analysis

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • What FTX Case Taught Us About Digital Asset Recoverability

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    FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.

  • Series

    Serving In The National Guard Makes Me A Better Lawyer

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    My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

  • Big Business May Come To Rue The Post-Administrative State

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    Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • Synapse Bankruptcy Has Ripple Effects For Fintech Industry

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    Synapse Financial Technologies’ recent bankruptcy filing marks a significant moment in the fintech industry's evolution, highlighting that stringent compliance and risk management in fintech partnerships are essential to mitigate risk and protect consumers, say Joann Needleman and Ryan Blumberg at Clark Hill.

  • Opinion

    Discount Window Reform Needed To Curb Modern Bank Runs

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    We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.

  • Series

    In The CFPB Playbook: Making Good On Bold Promises

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    The U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's funding structure in the second quarter cleared the way for the bureau to resume a number of high-priority initiatives, and it appears poised to charge ahead in working toward its aggressive preelection agenda, say Andrew Arculin and Paula Vigo Marqués at Blank Rome.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • FBI Raid Signals Growing Criminal Enforcement Of Algorithms

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    The U.S. Department of Justice Antitrust Division's increased willingness to pursue the use of algorithmic pricing as a potential criminal violation means that companies need to understand the software solutions they employ and stay abreast of antitrust best practices when contracting with providers, say attorneys at Rule Garza.

  • Best Text Practices In Light Of Terraform's $4.5B Fraud Deal

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    Text messages were extremely important in a recent civil trial against Terraform Labs, leading to a $4.5 billion settlement, so litigants in securities fraud cases need to have robust mobile data policies that address the content and retention of messages, and the obligations of employees to allow for collection, say Josh Sohn and Alicia Clausen at Crowell & Moring.

  • Series

    Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • CFPB's New Registration Rule Will Intensify Nonbank Scrutiny

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    The Consumer Financial Protection Bureau's recently finalized nonbank registration rule aimed at cracking down on repeat offenders poses significant compliance challenges and enforcement risks for nonbank financial firms, and may be particularly onerous for smaller firms, say Ketan Bhirud and Emily Yu at Cozen O'Connor.

  • Dapper Settlement Offers Rules Of The Road For NFT Issuers

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    The terms of a $4 million settlement in a class action alleging that Dapper Labs sold its NBA Top Shot Moments as unregistered securities may be a model for third parties that wish to avoid securities liability in connection with offering digital asset non-fungible token collectibles, say attorneys at K&L Gates.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

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