On Friday, a preliminary settlement of the proposed class action was filed in Manhattan federal court, still requiring approval of US District Judge Analisa Torres. The bank’s customers are set to receive two years of fraud insurance coverage at a minimum, with each customer able to apply for reimbursement of up to $10,000 in losses. […]
Prosecutors said that the founder of the now-defunct medical startup had knowingly lied about Theranos’ technology, which she claimed could detect diseases with just a few drops of blood. The jury found Holmes guilty of four charges, including conspiracy to commit fraud against investors, and three counts of wire fraud. In total, Holmes faced 11 […]
NatWest Markets admitted some of its traders in London, Singapore, and Connecticut were involved in a scheme to manipulate US Treasury market prices through a practice known as “spoofing” between 2008 and 2018. In addition to paying the $35 million fine, NatWest Markets also agreed to serve three years of probation. “As we have previously […]
On Thursday, a Moscow court announced it had fined social media giant Twitter 3 million roubles for failing to take down content that is deemed illegal in Russia. The fine comes as part of a long string of penalties against foreign technology firms operating in the country. Moscow has ramped up pressure on big tech […]
The US Securities and Exchange Commission (SEC) has rejected a bid by Apple Inc to block a shareholder proposal asking the tech giant to provide greater transparency in its effort to keep forced labour out of its supply chain. Earlier this year, a group of shareholders asked Apple’s board to prepare a report on how […]
The Volkswagen emissions scandal, often referred to as the dieselgate scandal, began in September 2015 when it emerged that the car giant had installed devices into its vehicles to rig its pollution emissions data. While the scandal initially appeared to be a German issue, it soon spread to other nations. Over 90,000 people in the […]
On Monday, the United States filed a civil forfeiture complaint to return over $150 million to a subsidiary of Tokyo-based Sony Corp after the funds were allegedly stolen then seized by law enforcement during the FBI’s investigation of the incident. Back in May, an employee of Sony Life Insurance Company Ltd in Tokyo allegedly embezzled […]
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