legal proceedings
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Former billionaire investor Sung Kook “Bill” Hwang received an 18-year prison sentence on Wednesday for the collapse of Archegos Capital Management, which caused more than $10 billion in losses for Wall Street banks. U.S. District Judge Alvin Hellerstein handed down the sentence in Manhattan after a jury convicted Hwang in July on 10 criminal charges,…
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Donald Trump’s lawyers urged a judge to dismiss the Republican’s conviction for illegally covering up hush money payments to a porn star, arguing that his U.S. presidential election victory makes sentencing a threat to government stability. In a letter filed Tuesday and released Wednesday, Trump’s legal team requested permission from New York State Supreme Court…
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Sean “Diddy” Combs will appear in court on Tuesday for a hearing regarding prosecutors’ acquisition of his handwritten notes, which authorities obtained during a search of his jail cell. Combs, who is awaiting trial on sex trafficking charges, claims the notes include details about defense witnesses and strategies, protected under attorney-client privilege. In a Monday…
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Nebraska Attorney General Michael Hilgers filed an antitrust lawsuit on Tuesday against several major heavy-duty truck manufacturers, accusing them of limiting the availability of diesel-powered semi-trucks in favor of electric trucks. The lawsuit alleges that the truck manufacturers conspired to phase out medium- and heavy-duty internal combustion vehicles, a move driven by California’s environmental regulations…
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Prosecutors opposed Donald Trump’s request to dismiss the hush money case now that he is president-elect and asked a judge on Tuesday to establish a schedule to litigate the matter. Trump, 78, originally faced sentencing on November 26, but New York State Supreme Court Justice Juan Merchan paused all proceedings last week at the request…
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The Supreme Court on Monday declined to hear an appeal in an antitrust lawsuit brought by 17 U.S. states against Google, allowing a lower court’s ruling to stand. The decision compels South Carolina’s parks, recreation, and tourism agency to release records that Google sought for its defense. The states accuse Google of maintaining an illegal…
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The cryptocurrency sector may face less scrutiny as Republican President-elect Donald Trump prepares to reshape policies at the Justice Department and regulatory agencies, according to current and former senior government lawyers who spoke at a conference in New York on Friday. Financial fraud cases will still move forward, but Trump’s administration plans to prioritize areas…
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Intrum (INTRUM.ST), Europe’s largest debt collector, filed for Chapter 11 bankruptcy in the United States on Friday as part of its strategy to restructure its debt. The company has faced challenges stemming from the pandemic, an energy crisis, and two-decade-high interest rates, which failed to trigger a surge in loan defaults. At the end of…
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The U.S. Supreme Court on Tuesday declined to hear a bid by landlord groups challenging New York City’s rent stabilization laws, which cap rent hikes and limit evictions. The justices rejected appeals by property owners who argued that the city’s price and eviction controls violate the Fifth Amendment’s “takings clause,” which prohibits the government from…
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Major League Baseball’s players union resolved a lawsuit accusing sports betting giant FanDuel of improperly using the names and likenesses of hundreds of MLB players on its betting platform without authorization. On Friday, a FanDuel spokesperson announced that the company and the union had finalized a confidential licensing agreement. In a New York federal court…
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