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Utah Ponzi scheme case envelops bank executive
Bank of Utah’s vice president and senior trust officer knowingly disregarded fraudulent activity and divulged protected financial information, a lawsuit asserts.
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SEC reiterates no scope 3 in final climate rule
Agency officials are starting to educate industry stakeholders and investors on the paused rule’s required disclosures, while defending it in court.
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Opinion
Compliance isn’t the only ‘AI washing’ risk
Like regulators, private plaintiffs are going after companies whose artificial intelligence promises don’t match what their technology actually does.
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Lawyers should disclose AI use: NY bar
They’re also told to get familiar with AI. If it can help them work better, they should consider using it to ensure their work is as competent as possible.
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In-house counsel accused of faking law firm bills to steal $200,000
Tadashi Dumas used deceptive wiring instructions to send money to himself and to entities he had outstanding bills with, the Manhattan District Attorney alleges.
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RBC fires CFO, treasury exec over undisclosed relationship
Nadine Ahn had been seen as a potential future CEO candidate, sources told The Globe and Mail. RBC named Katherine Gibson its interim CFO while it searches for a successor.
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Coach files trademark and unfair competition complaint against Gap
The complaint says some Old Navy-branded T-shirts are meant to make consumers think “there is a connection or association” with Tapestry-owned brands.
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Mercedes-Benz workers in Alabama file for UAW election
A “supermajority” of the more than 5,000 autoworkers at the facility filed a petition with the National Labor Relations Board, the UAW announced Friday.
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Column
Direction change unlikely as FTC fills out roster
The agency’s aggressive antitrust and consumer protection push is expected to continue as two Republican commissioners are seated after a year of Democratic-only leadership.
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Too-big-to-care attitude sparks FTC antitrust probes, Khan says
Even though it’s typically out-gunned by deep-pocketed companies and it relies on old laws, the agency has an approach that works for it, the high-profile commission chair says.
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Bowman, Chopra M&A comments put partisan divide on display
The Fed governor assailed what she called the FDIC's proposed "regulation by application," while the CFPB chief stressed how mergers should boost communities.
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SEC stays climate-risk disclosure rule as it works through legal challenges
The agency maintains that the regulation is within the agency’s authority and said it “will continue vigorously defending the Final Rules’ validity in court.”
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OSHA publishes final employee walkaround rule
The May 31 change reverts to a long-standing practice that gives employees the right to select a third-party advocate to accompany an inspection.
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FTC, DOJ consider hotel price-fixing case
The agencies filed a statement of interest in a case concerning casino hotels’ use of a pricing algorithm, a practice coming under increasing scrutiny.
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Commercial Chapter 11s jump 43% even as distress outlook eases
Bankruptcy filings have risen for 20 months. The pace wasn’t sustainable in today's strong economy, American Bankruptcy Institute’s Chris Ward says.
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Citi asks judge to toss NY AG’s fraud reimbursement suit
The bank called Letitia James' lawsuit against the bank a "misguided attempt" to modify the Electronic Fund Transfer Act, when a different law covers wire transfers.
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3M PFAS settlement gets final approval
The chemical giant will start making payments on the $10.5 billion settlement in Q3 of this year.
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Opinion
Why the Corporate Transparency Act is in legal limbo
Legal views differ on whether businesses should proceed as if the law applies or can safely disregard it while the government appeals a court ruling that deems it unconstitutional.
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Baltimore bridge ship owner seeks $43.7M liability limitation
Total cost of the collapsed bridge disaster is expected to be as high as $4 billion, leaving a huge gap if the petition is granted.
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Latitude Legal hires Alex Su to help fuel growth
The flexible talent provider is hoping the well-known legal professional can raise awareness about the company’s offerings for legal departments and law firms.
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Resignations head off antitrust action against Warner Bros. Discovery
Two board members stepped down after learning the Department of Justice was looking into whether their roles at another company created competition concerns.
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Former AECOM exec sues over alleged ageism, profit inflation
Jay Badame’s lawsuit claims the Dallas-based mega-contractor fired him due to his age and for questioning the firm’s earnings statements, according to The Real Deal.
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Six-and-a-half-month discovery ‘implicitly waived’ employer’s right to arbitrate
The case follows a 2022 U.S. Supreme Court ruling that struck down federal courts’ arbitration-specific procedural rules.
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AT&T slapped with class action suit over massive data breach
The breach was a direct result of AT&T’s failure to implement adequate cybersecurity procedures, the suit alleges.
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Reinsurers are expected to cover most Baltimore bridge costs
The legal battle will be over who pays for what in the shipping accident that could cost as much as $4 billion.