Tag: legal action

  • Senator Elizabeth Warren is calling for an independent inquiry into the Fed’s banking regulations

    Published: March 19, 2023 at 7:05 PM ET Senator Elizabeth Warren is calling for an independent investigation into the Federal Reserve and “the entire regulatory system” following the banking sector’s worst crisis in more than a decade. On Sunday, the Massachusetts Democrat told ABC News’ This Week that the chaos of the past few weeks […]

  • SVB Financial Files for Chapter 11 Bankruptcy Protection

    Silicon Valley Bank’s parent company filed for bankruptcy, facilitating the sale of its remaining assets after the technology-focused bank at its core was seized by federal regulators. SVB Financial Group filed for Chapter 11 protection in New York bankruptcy court on Friday, the largest bankruptcy filing due to a bank failure since Washington Mutual Inc. […]

  • Department of Justice, SEC investigates Silicon Valley Bank collapse

    WASHINGTON — The Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, according to people familiar with the matter, after the California lender was taken over by regulators last week amid a historic run on its deposits. The individual probes are in the preliminary phase and should not […]

  • Uber, Lyft win as California court upholds right to treat drivers like contractors

    Uber Technologies Inc., UBER -0.93% Lyft Inc. LYFT -2.87% and other companies won a California court ruling that maintains their model of independent contractors in the state and could boost their efforts to maintain that model elsewhere. A state appeals court said workers should continue to be treated as independent contractors under a California ballot […]

  • JPMorgan is suing former CEO Jes Staley over ties to Jeffrey Epstein

    JPMorgan JPM -0.59% Chase & Co. sued former executive Jes Staley over his ties to Jeffrey Epstein, identifying Mr. Staley as the “powerful finance executive” charged with assault in a lawsuit against the bank. Late last year, an unnamed woman alleged that JPMorgan aided Epstein’s sex trafficking business by getting him to stay a customer […]

  • Healthcare CEO is being charged with illegal stock sales in prearranged transactions

    The founder of telehealth provider Ontrak Inc. OTRK -0.16% was charged in a first-of-its-kind insider trading criminal, with prosecutors alleging that he sold millions of dollars worth of stock while abusing a trading scheme that executives normally use to protect themselves from such suspicions. Ontrak Chief Executive Terren Peizer set up pre-agreed trading plans in […]

  • How FTX’s Nishad Singh, Once an Honors Student, Turned to Cryptocrime

    Nishad Singh followed Sam Bankman-Fried into the high-stakes world of cryptocurrency trading. Now he could help put the former FTX executive in jail. Mr Singh, the 27-year-old former technical director at FTX, this week pleaded guilty to six felonies, including wire fraud. He agreed to cooperate with the government’s investigation into the collapse of FTX. […]

  • Sam Bankman-Fried faces more criminal charges from federal prosecutors

    Federal prosecutors charged Sam Bankman-Fried with several other financial crimes and offered extensive new details about the FTX founder’s alleged behavior before the collapse of his cryptocurrency exchange. A new indictment unsealed Thursday charges 30-year-old Mr. Bankman-Fried with four more criminal charges, in addition to eight prosecutors who filed charges they filed in December, weeks […]

  • Ozy Media, CEO Carlos Watson accused of fraud

    Ozy Media and Chief Executive Carlos Watson were indicted on charges of lying to investors and lenders about the size of the company’s audience and other aspects of the company, a crippling blow to a once-promising start-up that gained support from early on. big brand advertisers and venture capitalists. Mr. Watson was arrested Thursday morning […]

  • Tesla shareholders want to void Elon Musk’s $55 billion pay package

    WILMINGTON, Del. Lawyers for a Tesla shareholder on Tuesday urged a Delaware judge to dismiss a 2018 compensation package awarded by the company’s board of directors to CEO Elon Musk, potentially worth more than $55 billion. to be declared invalid. The shareholder’s lawyers argue that the compensation package should be annulled because it was dictated […]