FTX founder Sam Bankman-Fried was found guilty Nov. 2 of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire’s fall from grace. A 12-member …
Sam Bankman-Fried, testifying in his own defense at his fraud trial on Friday, acknowledged that a “lot of people got hurt” when the FTX cryptocurrency exchange he founded collapsed, but said he did not defraud anyone or take customer funds. …
A conservative group that lost a challenge to Nasdaq’s board diversity disclosure rule appealed the decision on Wednesday, requesting a full court review and saying that the rule discriminates based on race and sex. The rule approved by the U.S. …
A U.S. appeals court upheld Nasdaq’s board diversity rule on Wednesday, requiring companies listed on the exchange to have women and minority directors on their boards or explain why they do not. In a lengthy opinion, the New Orleans-based 5th …
Sam Bankman-Fried’s lawyer laid out his defense case at his fraud trial on Oct. 4, portraying the 31-former billionaire as a “math nerd” who overlooked risk management in building his FTX exchange, but did not steal customer money. Bankman-Fried has …
The U.S. Supreme Court on Friday agreed to consider whether shareholders can sue companies for fraud when they flout a rule requiring them to disclose trends expected to affect their bottom line in a case involving a suit by hedge …
A federal judge has ruled that the U.S. Consumer Financial Protection Bureau (CFPB) does not have broad authority to tackle discriminatory banking practices, handing a win to financial industry groups that sued the regulator. The American Bankers Association, the U.S. …
A U.S. judge on Friday dismissed as frivolous a conservative activist investor’s lawsuit against Starbucks’ board for the coffee chain‘s diversity, equity and inclusion policies. The National Center for Public Policy Research (NCPPR) sued in August 2022 over Starbucks’ setting …
Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing …
A U.S. appeals court on Tuesday revived a lawsuit alleging HP Inc. defrauded shareholders by secretly using unprofitable tactics to boost sales of its printing supplies in 2015 and 2016. The 9th U.S. Circuit Court of Appeals reversed a judge’s …
