News and Events for Attorneys and Executives

Banking & Finance

Foley Gardere Adds Transactional and IP Attorney Larry Waks

News
Larry Waks has joined Foley Gardere as a partner in its Business Law Department and Transactions Practice Group.

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Technology Service Provider Contracts with Banks

Technology Service Provider Contracts with Banks

Insight
The FDIC suggested that undefined and unclear contract terms in these areas contribute to uncertainty around bank rights and vendor responsibilities.

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Madoff Victims May Proceed With Suit Against Attorney

News
Victims of Bernie Madoff’s Ponzi scheme convinced a federal magistrate judge April 11 that their class action against the attorney who represented them belongs in federal court, reports Bloomberg Law.

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Boeing Shareholder Files Class-Action Lawsuit, Alleges Plane Maker Concealed 737 Max Safety Risks

News
Shareholder Richard Seeks claims Boeing “effectively put profitability and growth ahead of airplane safety and honesty,” causing investors to suffer economic losses.

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Former Hertz General Counsel Rebuffs Demand for Clawback

News
The Hertz suit accused the former executives of pressuring employees to use fraudulent accounting techniques to inflate income and earnings, reports The Global Legal Post.

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Former SeaWorld Associate GC Pleads Guilty to Insider Trading

News
The SEC said that it had also charged Paul B. Powers with insider trading based on confidential information he received.

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After Years of Apologies for Customer Abuses, Wells Fargo CEO Suddenly Quits; GC Takes Over

After Years of Apologies for Customer Abuses, Wells Fargo CEO Suddenly Quits; GC Takes Over

News
Wells Fargo general counsel C. Allen Parker will take over as interim president and chief executive of the company after the abrupt departure of chief executive Tim Sloan on Thursday.

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First NBC Bank’s Former Top Lawyer Charged With Defrauding New Orleans Bank

News
First NBC Bank’s former top lawyer was charged in federal court Friday with conspiracy to defraud the New Orleans bank, which failed two years ago in the biggest U.S. bank collapse since the 2008 financial crisis.

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Biglaw Firm Sued for Role in $1.36B Grocery Chain Buyout

News
The complaint alleges Cravath drafted the SEC filing “to procure stockholder approval and cover up prior wrongdoing,” and in doing so, pocketed $5.5 million in fees in what amounted to “a sham sale process.”

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Judge Hears Arguments for Tossing Neiman Marcus Fraud Lawsuit

News
“This is a $1 billion fraudulent transfer case,” an opposing lawyer told the state district judge.

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New York Regulator Subpoenas Insurance Broker Over Trump Organization Dealings

New York Regulator Subpoenas Insurance Broker Over Trump Organization Dealings

News
The subpoena came after former Trump lawyer Michael Cohen told Congress the president inflated the value of assets to insurers, according to Reuters.

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Attorneys With Indiana Roots Join Barnes & Thornburg

News
John Olivieri and Patrick Sullivan have joined Barnes & Thornburg’s Wealth Management and Corporate Finance practice groups in Indianapolis.

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Elon Musk Defiant As Judge Orders Him to Explain Tesla Tweets

Elon Musk Defiant As Judge Orders Him to Explain Tesla Tweets

News
Tesla’s internal system designed to have an in-house lawyer vet Elon Musk’s tweets didn’t work in this case because his social-media minder didn’t bless the Feb. 19 post.

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UBS Lawyers Played Hardball With French Enforcers, Failed Spectacularly

News
The bank has been ordered to pay more than $5 billion in the tax-evasion case — matching what was sought by prosecutors.

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Biglaw Firm Hit With $500 Million Malpractice Suit

News
Plaintiffs claim that Reed Smith failed to bring a case against the rating agencies — Standard & Poors, Moody’s, and Fitch Ratings — in a timely manner, resulting in claims being dismissed.

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Dentons Associate Duped into Transferring $2.5 Million to Fraudster’s Account

Dentons Associate Duped into Transferring $2.5 Million to Fraudster’s Account

News
A decision in a Toronto court revealed that the associate sent the money from a property sale to a Hong Kong bank account after he received emails requesting the transfer in a business deal.

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A Top 10 Verdict in Texas

News
A team of lawyers with Boyd Powers & Williamson alleging deceptive business practices against BBVA Compass Bank won a $98 million verdict for their client, a real estate developer who was working to build three luxury subdivisions in Tarrant County, Texas.

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Lawyer Whose Boozy Brag Led to Insider Trades Can’t Ditch Verdict

News
Robert Schulman was a Washington-based partner with Hunton & Williams, now Hunton Andrews Kurth, working on a patent dispute involving King Pharmaceuticals when he learned of the potential merger of King and Pfizer in August 2010.

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Implementing the New Revenue Recognition Standard – What Private Companies Need to Do Now

Insight
With the effective date for the new revenue standard fast approaching, many private companies have still not taken important steps towards implementation, writes Robert S. Miller, CPA, CFE, partner, Samet & Company, PC.

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Subpoenas Issued to Trump Organization in Emoluments Lawsuit

News
Reuters reports the Trump Organization Inc., the president’s privately owned real estate company, and related corporate entities received the subpoenas.

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