Edition:
United States

Jody Godoy

IN BRIEF: FINRA fines Santander Securities for letting 6 million broker emails slip review

Nov 27 2020

The Financial Industry Regulatory Authority has fined Santander Securities LLC for failing to capture 6 million of its employees' emails for review over five years in violation of industry rules requiring securities firms to monitor broker communications.

Diverse Robbins Geller team wins lead role in FirstEnergy lawsuit

Nov 24 2020

A federal judge in Ohio appointed Robbins Geller Rudman & Dowd as lead counsel in a shareholder lawsuit against utility FirstEnergy Corp over alleged bribes to a state lawmaker, saying that in addition to representing the client with the largest loss, he was "impressed" by the diversity of the lawyers on the case.

IN BRIEF: Investor accuses Pinterest of overselling growth potential

Nov 24 2020

Pinterest has been hit with a proposed class action in San Francisco federal court accusing it of misleading the market about its ability to increase users in the United States.

IN BRIEF: SEC alleges ad startup founder faked calls to lure VC investors

Nov 23 2020

The U.S. Securities and Exchange Commission sued the founder of San Francisco-based e-commerce startup Benja Inc on Monday, alleging he set up calls with fake customers and investors to lure venture funding to the company.

Indicted ex-banker says Goldman's DOJ deal violates his rights

Nov 23 2020

A former Goldman Sachs banker facing criminal charges in the United States over his alleged involvement in Malaysia's 1MDB corruption scandal has told a Brooklyn federal court that the U.S. Department of Justice's settlement with the bank violates his right to a fair trial.

2nd Circuit questions dismissal of case over bank's Hezbollah ties

Nov 19 2020

Two judges on a 2nd U.S. Circuit Court of Appeals panel seemed inclined to revive a lawsuit against a Lebanese bank for providing financial services to alleged Hezbollah affiliates, questioning during oral arguments on Thursday whether a lower court ruling dismissing the case had adhered to the correct standard.

Seila Law asks 9th Circuit to end CFPB demand after high court ruling

Nov 19 2020

Law firm Selia Law argued to the 9th U.S. Circuit Court of Appeals on Thursday that the Consumer Financial Protection Bureau must start from scratch in its investigation of the Orange, California-based firm after a U.S. Supreme Court ruling held the CFPB's one-director structure unconstitutional.

Banks seek to block convicted ex-trader from paid gig in antitrust case

Nov 18 2020

A group of multinational banks accused by institutional investors of collusion in the foreign exchange market urged a Manhattan federal judge to block the investors from paying a former trader at Barclays and BNP Paribas who pleaded guilty in a related criminal case $400 an hour to act as a consultant.

FTC accuses fintech startup Beam Financial of misleading customers

Nov 18 2020

The Federal Trade Commission on Wednesday sued Beam Financial in San Francisco federal court accusing the company of misleading users of its mobile banking app about interest rates and the availability of their funds.

2nd Circuit to examine bank liability for terrorist acts

Nov 17 2020

The 2nd U.S. Circuit Court of Appeals will hear oral arguments on Thursday in an appeal by victims of Hezbollah rocket attacks, in one of several cases posing the question of when banks can be sued for aiding and abetting terrorism by providing financial services.

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