Latest Legal News: Finextra Research

Home Depot battles bank and consumer lawsuits over data breach

The legal fallout from Home Depot's data breach continues, with the retail giant asking a court to dismiss a consolidated class action lawsuit filed by consumers just as a collection of financial institutions launch their own suit.

02 June 2015

News/Legal

Silk Road's Ulbricht sentenced to life in prison

Ross Ulbricht, the founder of the Silk Road, a dark web bazaar where shoppers bought and sold illegal goods with bitcoin, has been sentenced to life in prison.

29 May 2015

News/Legal

Charity sues CommBank for $2.5m related to IT bribery case

A US-based charity is suing Commonwealth Bank of Australia seeking the return of $2.5 million that Oz cops say was used to bribe two former CBA IT executives.

27 May 2015

News/Legal

MasterCard's $19m Target settlement falls through

MasterCard's $19 million settlement with Target over the retailer's data breach has collapsed in the face of opposition from banks.

22 May 2015

News/Legal

Ex-JPMorgan staffer charged with selling customer account info

A former JPMorgan Chase worker has been arrested by the FBI on charges that he stole customer account information and sold it to an undercover informant.

01 May 2015

News/Legal

Romanian police bust $15m cybergang

Romanian police have arrested 25 people accused of being part of a cybergang that used cloned cards to steal more than $15 million in thousands of ATM withdrawals around the world.

30 April 2015

News/Legal

Nasdaq agrees $26.5m settlement over botched Facebook IPO

Nasdaq has agreed to pay $26.5 million to settle a class action lawsuit over the technical glitches that marred the IPO of Facebook in 2012.

24 April 2015

Company update/Legal

Inform seeks patent infringement protection

INFORM GmbH, a leading provider of software solutions in risk assessment and fraud prevention, has announced that it will reinforce the protection of its intellectual property in fuzzy logic technology.

23 April 2015

News/Legal

UK trader arrested over 2010 'flash crash'

A British futures trader has been arrested after US authorities accused him of contributing to the 2010 "flash crash," which saw the S&P 500 index plummet 600 points in minutes, sending shockwaves through the global financial system.

21 April 2015

News/Legal

MasterCard in the firing line over $19 million Target settlement

Class action lawyers representing banks in litigation against Target have blasted MasterCard's $19 million settlement with the US retailer over the 2013 data breach.

17 April 2015

Company update/Legal

CounterpartyLink adds hierarchy view for complex client groups

CounterpartyLink (CPL), an independent provider of evidence-based legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, today announced the introduction of CPL Hierarchy Profile, a new product designed to provide a 'single view of the client' across complex client groups.

17 April 2015

Company update/Legal

BNY Mellon fined £126 million for FCA over Cass compliance failings

BNY Mellon (NYSE: BK) today issued the following statement regarding the findings of a U.K. Financial Conduct Authority ("FCA") investigation into compliance with relevant FCA Principles and U.K. Client Asset Sourcebook ("CASS") rules during the period from November 2007 to August 2013:

15 April 2015

Company update/Legal

FCA fines Clydesdale £20 million for PPI complaints mishandling

The Financial Conduct Authority (FCA) has today fined Clydesdale Bank Plc (Clydesdale) £20,678,300 for serious failings in its Payment Protection Insurance (PPI) complaint handling processes between May 2011 and July 2013.

14 April 2015

News/Legal

Russian cops nab alleged Nazi Android malware gang members

Russian authorities have arrested alleged members of a gang of "cyberfascists" accused of using Android malware to drain victims' bank accounts.

13 April 2015

Company update/Legal

Carder.su fraud ring member handed 150-month prison sentence

A member of the identity theft and credit card fraud ring known as “Carder.su” was sentenced today to 150 months in federal prison for selling stolen and counterfeit credit cards over the Internet.

10 April 2015

News/Legal

Former Goldman programmer faces second trial over HFT code theft

Sergey Aleynikov, the former Goldman Sachs programmer who had a conviction for stealing the bank's propriety HFT code overturned is back on trial on charges related to the same incident.

01 April 2015

News/Legal

Ex-federal agents charged with stealing Silk Road-related bitcoins

Two former federal agents have been charged with stealing hundreds of thousands of dollars worth of bitcoin during the investigation of the Silk Road dark web marketplace.

30 March 2015

News/Legal

Former CommBank IT manager charged with bribery

A former IT executive at Commonwealth Bank of Australia has been charged with bribery over payments he allegedly received from a US tech vendor.

18 March 2015

News/Legal

Silk Road kingpin Ulbricht found guilty

Ross Ulbricht could face life in prison after being found guilty of seven charges related to his running of the Silk Road, a dark web bazaar where shoppers bought and sold illegal goods with bitcoin.

04 February 2015

News/Legal

NY Attorney General turns up the pressure on Barclays

New York's Attorney General Eric Schneiderman is ratcheting up the pressure on Barclays Bank as he expands his lawsuit accusing the bank of fraud in the operation of its US dark pool.

22 January 2015