(Reuters) – ChatGPT maker OpenAI has been accused in a new lawsuit of practicing law without a U.S. license and helping a former disability claimant breach a settlement and flood a federal court docket with meritless filings. Nippon Life Insurance (…)
(Reuters) – U.S. banking regulators clarified on Thursday that banks should not have to hold additional capital against losses when dealing with blockchain-based securities, saying their rules are “technology neutral.” The Federal Reserve, Federal Deposit Insurance Corporation and Office of (…)
Crypto Breaking) A Virginia federal court handed a 20-year prison sentence to Ramil Ventura Palafox, the chief executive of Praetorian Group International (PGI), for leading a crypto investment scheme that prosecutors say defrauded tens of thousands of investors out of (…)
The U.S. Treasury Department on Tuesday issued a proposed rule governing how biofuel makers can access a $1-per-gallon tax credit for low-carbon transportation fuels, including aviation fuel. The rule was welcomed by biofuel trade groups that said the plan could (…)
The U.S. government and a majority of U.S. states on Tuesday will appeal the outcome of a landmark antitrust case against Alphabet’s Google, according to court papers. A federal court judge in Washington in 2024 ruled Google has a monopoly (…)
Streaming company RealNetworks Inc., founder and CEO Robert Glaser, and six other directors must face a proposed class action over the board’s recommendation that shareholders approve Glaser’s bid to buy the company’s outstanding shares. Strougo v. RealNetworks Inc. et al., (…)
U.S. law firm Fenwick & West, which advised FTX before its 2022 blockbuster collapse and bankruptcy, has agreed to settle a lawsuit by FTX customers who alleged the firm helped the crypto exchange’s chief executive carry out one of the (…)
(Reuters) – Legal technology firm Alexi is mounting a counterattack against Fastcase and its parent company Clio, accusing them of trying to use an “objectively baseless” trade secrets lawsuit to eliminate the company as a rival in artificial intelligence-backed research. (…)
(Reuters) – The U.S. Federal Trade Commission is seeking to revive its case accusing Facebook parent company Meta Platforms of bolstering an illegal monopoly by acquiring Instagram and WhatsApp, the FTC’s spokesperson said on Tuesday. The case is part of (…)
Bill Hwang, the founder of Archegos Capital Management, has sought a presidential pardon for his conviction in the collapse of his fund that cost Wall Street banks more than $10 billion. The former billionaire investor, who was sentenced to 18 (…)