The Supreme Court ruled unanimously that UBS Securities must pay $900,000 in back-pay to a former analyst who filed a claim against the company, asserting that he should have been afforded whistleblower protection. Trevor Murray, a former research analyst at UBS, sued the firm in 2012 claiming that he was Read More
Exxon has recently filed a lawsuit against its activist investors, Arjuna Capital and Follow This, in order to stop them from filing climate-change proposals during the company’s shareholder meeting. The Exxon shareholder proposals ultimately urge the company to “go beyond current plans” to cut its greenhouse gas emissions. The lawsuit Read More
The Securities and Exchange Commission settled charges against J.P. Morgan Securities (JPMS) for impeding hundreds of advisory clients and brokerage customers from reporting potential securities law violations to the SEC. JPMS agreed to pay an $18 million civil penalty to settle the charges. According to the SEC’s order, from March Read More
The French Data Protection Authority (FDPA) issued a $35 million fine to Amazon for its excessive surveillance of its employees, including the company’s relentless tracking of employee performance and breaks, as well as the implementation of a video monitoring system without informed employee consent. The Commission Nationale de l’informatique et Read More
The New York Department of Financial Services (NYDFS) announced that Industrial and Commercial Bank of China (ICBC) has agreed to pay $32 million in penalties pursuant to a Consent Order entered into with the NYDFS. The Consent Order settles the Department’s investigation into numerous Bank Secrecy Act and Anti-Money Laundering Read More
German software company SAP will pay more than $220 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act (FCPA). The SEC found that SAP violated the FCPA by paying bribes to foreign officials in South Read More
The Securities and Exchange Commission has voted to approve the listing and trading of bitcoin exchange-traded funds (ETFs), opening the door to several new publicly traded funds that track various cryptocurrencies. The SEC’s decision will make bitcoin investing more accessible to investors, without requiring them to own the digital asset Read More
The Federal Trade Commission (FTC) has prohibited data broker X-Mode Social and its successor Outlogic from sharing or selling sensitive location data as part of a settlement resulting from allegations that the company sold precise location data that could be used to track people’s visits to private locations. In its Read More
Walgreens has agreed to pay $360 million to insurance company Humana to settle a lawsuit claiming that the retail pharmacy chain overcharged for prescription drug reimbursements. In 2019, Humana brought a lawsuit against Walgreens arguing that the company had overcharged its customers by inflating medication prices for over ten years. Read More
Starting next week, the state of Ohio will require social media platforms to obtain parental consent before a child under the age of sixteen creates an account on their websites. However, an association by the name of NetChoice is now challenging this law on the belief that it violates the Read More
