Criminals hoodwinked banks, credit-card networks and a payment-security firm while moving hundreds of millions of dollars, according to the U.S. government. It won’t be easy to stop it from happening again.
Ernst & Young LLP erred by taking Bernie Madoff at his word when it signed off on audits of a fund that helped feed the biggest Ponzi scheme in U.S. history. The firm then stumbled by trusting the con man’s now-disgraced ex- accountant, a jury in the first trial of its kind was told.
John Suh is convinced that he can put lawyers back to work. In the past decade, the number of working lawyers has fallen by more than 50,000. Solo practitioners, the mom-and-pop shops of jurisprudence, have been in a death spiral for even longer.
Big banks that say the U.S. doesn’t understand how tough it is to comply with everything from anti-bribery to antitrust laws are about to gain an ear inside the Justice Department: a former compliance chief from Standard Chartered Bank PLC.
A divided Supreme Court of the United States indicated it may put limits on consumer lawsuits, questioning arguments by a man seeking to sue over what he says is an error-riddled Internet profile.
Fantasy-sports gaming site FanDuel Inc. has been sued by former Indianapolis Colts receiver Pierre Garcon over the use of his name and image, which he claims was done without his permission.
Apple Inc. is fighting the U.S. Justice Department’s demand for access to data on an iPhone seized during a drug probe just days after the company’s chief executive officer squared off against the director of National Security Agency over privacy.
Could a fight over flavoring water mean the end of a court district that’s become notorious for its patent litigation? It might, if Heartland Consumer Products Holdings LLC is successful in getting a patent-infringement lawsuit filed against it last year by Kraft Heinz Co. in Delaware moved to a court in its home state of Indiana.
For all the black robes and ceremony, the American legal system often operates more like a factory assembly line than a citadel of individualized justice. Now a legal dispute within a plaintiffs' law firm that organizes massive torts is threatening to pull back the curtain on the mechanics of high-volume litigation.
Indiana and 22 other states filed a legal challenge Friday to the U.S. Environmental Protection Agency's new rule requiring existing power plants to make technological changes to reduce carbon dioxide emissions. The rule change is expected to unleash a flood of lawsuits from lawyers challenging everything from the timing to the constitutionality of President Barack Obama’s signature climate initiative.
The U.S. dropped insider-trading charges against Michael Steinberg, a former fund manager at SAC Capital Advisors LP who was convicted by a federal jury, in the latest fallout from a major appeals court ruling that made such prosecutions more difficult.
For close watchers of the interactions between the Justice Department and the financial industry, the mistrial in the Dewey & LeBoeuf case was about more than just the fact that a handful of jurors were too overwhelmed by the evidence presented to reach a verdict. The mistrial, after four months in court and 22 days of deliberations, hints at a much deeper problem: Perhaps most financial crime has simply reached a level of such complexity that it's beyond the reach of the law.
Indiana is set to receive a portion of a $4 million settlement with UPS Inc. following allegations that the shipping company overcharged government customers in 14 states.
When U.S. federal prosecutors charged a senior United Nations official on Tuesday, it was the Justice Department’s first foray into the activities of the international organization in a number of years. The prosecutor behind the push says there’s more to investigate – and internal UN documents suggest he has a point.
Mark Tetzlaff is a 57-year-old recovering alcoholic who has been convicted of victim intimidation and domestic abuse. He may also be the person with the best shot at upending the way U.S. courts treat student debt for bankrupt borrowers.
Shareholder activism continued to intensify during the spring 2015 proxy season. More companies were the targets of activist campaigns and were forced to engage with shareholders, according to a survey by Shearman & Sterling LLP.
If there’s optimism among law firm managing partners, it’s muted at best.
Ernst & Young LLP took Bernie Madoff at his word when it signed off on audits of a fund that helped feed the biggest Ponzi scheme in U.S. history. The firm must now defend that decision at the first trial of an auditor over losses tied to Madoff, who’s serving a 150- year prison term for stealing billions of dollars from thousands of investors.
A jury considering fraud charges against three former executives at Dewey & LeBoeuf LLP remains deadlocked on most counts in its 18th day of deliberations.
Law firm mergers show no signs of abating. That’s the takeaway from a report from legal consultant Altman Weil Inc., which tracks the number of combinations — both large and small – among firms.