The following statement is issued by Goldman Scarlato & Penny, P.C. : To: All persons who purchased securities of Deutsche Bank (“DB” or the “Company”) (NYSE:DB) between April 15, 2013 and April 29, 2016. The complaint alleges that Deutsche Bank issued materially false and misleading …
Hedge funds who own debt at Puerto Rico’s Government Development Bank are accusing the bank and the island’s governor of giving preferential treatment to local creditors under a law designed to restructure GDB’s debt, signaling a breakdown in a tentative restructuring …
Sixteen of the world’s largest banks including JPMorgan Chase & Co. and Citigroup Inc. must face antitrust lawsuits accusing them of hurting investors who bought securities tied to Libor by rigging an interest-rate benchmark, a ruling that an appeals court warned could devastate them. The appellate judges reversed a lower-court ruling on one issue — whether the investors had adequately claimed …
A new federal rule that would give bank customers greater ability to participate in class-action lawsuits drew criticism from the industry, but local community banks aren’t much worried. Small bank officials say their scale and more folksy approach keeps them out of court more effectively than crimping the rights of their customers in small print. The Consumer Financial Protection Bureau wants …
The Consumer Financial Protection Bureau is seeking comment on a new proposed regulation that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court, putting into motion discussions that started toward the end of last year. Arbitration clauses generally require that if there’s a dispute, parties must first try to resolve the issue through an arbitration …
Those dreams never materialized. InfoSpan is represented by the powerhouse law firm of Boies Schiller & Flexner — chaired by David Boies, among the country’s most well-known attorneys — while the bank hired Latham & Watkins, a large firm with offices worldwide, including in the Emirates. FOR THE RECORD The wealthy Persian Gulf region was of particular interest because of its reliance on 25 …
If government regulators get their way, it’s going to become a lot easier to sue your bank. By and large, U.S. bank customers have signed away their right to sue their bank in court, often without being aware of it. Buried in the fine print of credit card agreements, bank accounts and insurance policies are what are known as binding, or mandatory, arbitration …
The nation’s top consumer financial regulator wants to put a stop to that. The Consumer Financial Protection Bureau proposed a rule Thursday that would ban arbitration clauses, which would affect the entire financial industry and the hundreds of millions of bank accounts, credit cards and other financial services …
A federal lawsuit alleges TD Bank’s Penny Arcade machines inaccurately counted customers’ coins and seeks class-action status. A proposed class-action lawsuit against TD Bank seeks damages for customers it …
Bank of Queensland will defend proceedings against them in the Federal Court. Photo: Glenn Hunt Bank of Queensland is facing a second class action from customers of disgraced financial planner Bradley Sherwin over claims it failed to stop a multimillion dollar “Ponzi”-like investment scheme from taking place. Mr Sherwin is currently facing various fraud charges over his alleged role as director …