The Regents of the University of California sued Lloyd’s of London, arguing the company refused to reimburse the university system for the costs of data breaches covered in a cyber insurance policy. The dispute is over a cyber attack from …
Twitter Inc. employees sued the social media company claiming it refuses to pay 2022 bonuses, despite promises that they would be paid out at 50% of their target amounts. Twitter has a cash performance bonus plan that is paid out …
Wells Fargo & Co. is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said …
Uber Technologies Inc.’s former security chief was spared from prison for concealing a massive data breach in 2016. Joe Sullivan’s sentencing to three years of probation Thursday followed his conviction by a jury last year of obstructing a government investigation …
KPMG LLP was sued as Silicon Valley Bank’s auditor, along with underwriters including Goldman Sachs Group Inc., Bank of America Corp. and Morgan Stanley & Co. in an investor lawsuit based on alleged misstatements leading to the bank’s collapse. Similar …
Silicon Valley Bank’s lack of a chief risk officer for much of last year is being examined by the Federal Reserve as part of its probe of the bank’s failure, two people familiar with the matter said. SVB revealed in …
Employees at Meta Platforms Inc. and ByteDance Inc. were aware of the harmful effects of their platforms on young children and teenagers but disregarded the information or in some cases sought to undermine it, according to claims in a court …
Meta Platforms Inc. is wrong to say its $725 million settlement of a lawsuit claiming Facebook illegally shared user data with a controversial research firm protects it from similar claims brought by New Mexico, attorneys for the US state said. …
Facebook and its outside law firm were ordered to pay almost $1 million in sanctions for deceitfully denying that it shared users’ private information with third parties without permission. The fine is “loose change” for Facebook and Gibson Dunn & …
Meta Platforms Inc. settled a long-running lawsuit that claimed Facebook illegally shared user data with the research firm Cambridge Analytica. The preliminary settlement, disclosed in a court filing late Friday, follows the revelation last month that Meta Chief Executive Officer …
