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Musk's X Corp. Helps Ex-Block Worker Fired Over Posts Sue
by Gunnar Larson 02 Apr '24

02 Apr '24

Musk's X Corp. Helps Ex-Block Worker Fired Over Posts Sue <https://www.law360.com/fintech/articles/1819604?nl_pk=d2b3e7ef-ab62-4a62-80…> By Henrik Nilsson A former employee at Block Inc., which was founded by Twitter co-founder Jack Dorsey, alleges the company fired her in retaliation for two posts she made on X, formerly known as Twitter, according to a suit filed in Missouri state court with financial backing from Elon Musk's X Corp. Petition attached | Read full article » <https://www.law360.com/fintech/articles/1819604?nl_pk=d2b3e7ef-ab62-4a62-80…> | Save to favorites » <https://www.law360.com/fintech/articles/1819604?nl_pk=d2b3e7ef-ab62-4a62-80…>

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Skillz Hid 'Rudimentary' Gaming Tech, Investors Tell 9th Circ.
by Gunnar Larson 02 Apr '24

02 Apr '24

Skillz Hid 'Rudimentary' Gaming Tech, Investors Tell 9th Circ. <https://www.law360.com/fintech/articles/1819689?nl_pk=d2b3e7ef-ab62-4a62-80…> By Dorothy Atkins Skillz Inc. investors urged the Ninth Circuit Monday to revive a consolidated proposed class action alleging the mobile-gaming company misled investors about its growth prospects surrounding its 2021 go-public merger with a special-purpose acquisition company — arguing Skillz skewed revenues and misleadingly touted its gaming technology, which was in reality "rudimentary." Read full article » <https://www.law360.com/fintech/articles/1819689?nl_pk=d2b3e7ef-ab62-4a62-80…> | Save to favorites » <https://www.law360.com/fintech/articles/1819689?nl_pk=d2b3e7ef-ab62-4a62-80…>

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Women Must Arbitrate Suit Over Ex-Coach's Hidden Cam
by Gunnar Larson 02 Apr '24

02 Apr '24

Women Must Arbitrate Suit Over Ex-Coach's Hidden Cam <https://www.law360.com/cybersecurity-privacy/articles/1819684?nl_pk=3dfd2fd…> By Matthew Santoni Newly discovered texts and files on a former Temple University football coach's devices won't help three women revive or revise their lawsuits against the coach and the dog-sitting app he used to recruit them, a Pennsylvania federal judge ruled Friday. 2 documents attached | Read full article » <https://www.law360.com/cybersecurity-privacy/articles/1819684?nl_pk=3dfd2fd…> | Save to favorites » <https://www.law360.com/cybersecurity-privacy/articles/1819684?nl_pk=3dfd2fd…>

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UK Signs Accounting Standards Deal With Australia
by Gunnar Larson 02 Apr '24

02 Apr '24

UK Signs Accounting Standards Deal With Australia <https://www.law360.co.uk/financial-services-uk/articles/1818558?nl_pk=a94fc…> By Josh White Britain's audit watchdog said Thursday it has secured a deal on accounting standards with Australian authorities to make it easier for auditors to work between both countries. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1818558?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1818558?nl_pk=a94fc…>

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UK To Nullify NDAs That Stop People Reporting Crimes
by Gunnar Larson 02 Apr '24

02 Apr '24

UK To Nullify NDAs That Stop People Reporting Crimes <https://www.law360.co.uk/financial-services-uk/articles/1818398?nl_pk=a94fc…> By Adele Redmond Non-disclosure agreements that prevent victims from reporting potential crimes are to become unenforceable, the government said Thursday as it announced plans to "clarify" the law governing the controversial contracts. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1818398?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1818398?nl_pk=a94fc…>

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Feds Say Ex-OneCoin Atty Should Serve 'Substantial' Time
by Gunnar Larson 02 Apr '24

02 Apr '24

Feds Say Ex-OneCoin Atty Should Serve 'Substantial' Time <https://www.law360.co.uk/financial-services-uk/articles/1818630?nl_pk=a94fc…> By Sydney Price Manhattan federal prosecutors have requested a "substantial" amount of prison time for a Bulgarian woman who worked on the legal team at the fraudulent OneCoin cryptocurrency exchange, but said the sentence should fall below the guidelines range of 10 years. Memorandum attached | Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1818630?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1818630?nl_pk=a94fc…>

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Struggling Lender Amigo Raises Cash, Eyes Reverse Takeover
by Gunnar Larson 02 Apr '24

02 Apr '24

Struggling Lender Amigo Raises Cash, Eyes Reverse Takeover <https://www.law360.co.uk/financial-services-uk/articles/1818557?nl_pk=a94fc…> By Najiyya Budaly Amigo Holdings PLC said on Thursday that it has raised cash and is looking for a reverse takeover target so that it can continue operating as a listed company, amid the planned liquidation of its troubled subprime lending arm. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1818557?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1818557?nl_pk=a94fc…>

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Investors Told To Show Standing For £1.4B StanChart Claim
by Gunnar Larson 02 Apr '24

02 Apr '24

Investors Told To Show Standing For £1.4B StanChart Claim <https://www.law360.co.uk/financial-services-uk/articles/1818577?nl_pk=a94fc…> By Ronan Barnard A London judge on Thursday ordered part of a group of investors suing Standard Chartered PLC for £1.4 billion ($1.7 billion) — for allegedly downplaying how much it had breached U.S. sanctions — to prove they are entitled to bring the claim. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1818577?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1818577?nl_pk=a94fc…>

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Traders' Loss Raises High Bar For Bankers To Clear Names
by Gunnar Larson 02 Apr '24

02 Apr '24

Traders' Loss Raises High Bar For Bankers To Clear Names <https://www.law360.co.uk/financial-services-uk/articles/1818894?nl_pk=a94fc…> By Christopher Crosby The failure of two former traders to overturn their rate-rigging convictions could mark the end of the road for others convicted in connection with the scandal because of the reluctance of the English courts to topple precedent, lawyers say. Read full article » <https://www.law360.co.uk/financial-services-uk/articles/1818894?nl_pk=a94fc…> | Save to favorites » <https://www.law360.co.uk/financial-services-uk/articles/1818894?nl_pk=a94fc…>

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FTX founder Sam Bankman-Fried speaks out after sentencing: 'I'm haunted, every day, by what was lost' - ABC News
by Gunnar Larson 01 Apr '24

01 Apr '24

https://abcnews.go.com/US/ftx-founder-sam-bankman-fried-speaks-after-senten… Former crypto entrepreneur Sam Bankman-Fried told ABC News in an exclusive interview that he is remorseful for his actions that last week resulted in a 25-year prison sentence for fraud. "It's most of what I think about each day," he said. Bankman-Fried's sentence capped off a 17-month saga that began in November 2022 when FTX, a global cryptocurrency exchange he co-founded and served as CEO, imploded, resulting in a $8 billion loss for its customers. Bankman-Fried resigned amid the company's fall and the new ownership filed for bankruptcy. Prosecutors said he stole from FTX customers and used the money for political contributions, investments and personal gain. Last fall, he was convicted of seven counts of fraud, conspiracy and money laundering, which led to Thursday's sentencing. Speaking exclusively to ABC News via email throughout the weekend from the Metropolitan Detention Center in Brooklyn, Bankman-Fried said FTX's insolvency was the result of several "bad decisions" he made in 2022. FTX founder Sam Bankman-Fried leaves Federal court on July 26, 2023, in New York. (AP Photo/Mary Altaffer) Mary Altaffer/AP MORE: Man who crossed Key Bridge just before collapse speaks out: 'I'm really lucky' "I never thought that what I was doing was illegal. But I tried to hold myself to a high standard, and I certainly didn't meet that standard," he said. During his sentencing on Thursday, U.S. District Judge Lewis Kaplan said Bankman-Fried committed perjury in his testimony and was "often evasive." The judge also said that the defendant's remarks never conveyed "a word of remorse for the commission of terrible crimes." Bankman-Fried said Sunday that "of course" he is remorseful. "I've heard and seen the despair, frustration and sense of betrayal from thousands of customers; they deserve to be paid in full, at current price," he said. "That could and should have happened in November 2022, and it could and should happen today. It's excruciating to see them waiting, day after day," he said. MORE: Total solar eclipse April 8, 2024: Path, time and the best places to view He added that he "felt the pain" from co-workers as he "threw away what they poured their lives into" and from the charities he supported "as their funding turned into nothing but reputational damage." "I'm haunted, every day, by what was lost. I never intended to hurt anyone or take anyone's money. But I was the CEO of FTX, I was responsible for what happened to the company, and when you're responsible it doesn't matter why it goes bad. I'd give anything to be able to help repair even part of the damage. I'm doing what I can from prison, but it's deeply frustrating not to be able to do more," he said. In his statement to the court Thursday, Bankman-Fried, 32, said that had he or another FTX employee remained in place as CEO, customers would have been "paid back long ago." He blamed the company's decision to not restart the FTX exchange, which he said could have potentially led to long-term value. "There are and always have been plenty of assets to repay customers, lenders, and investors in full, at current prices or prices at the time," he said. In a court filing last year, Bankman-Fried accused Sullivan & Cromwell, the law firm representing FTX's new ownership, of working with prosecutors and said he had a right to see the FTX documents the company shared with prosecutors. For that reason, Bankman-Fried suggested on Sunday he was not given a fair trial. "At the root, SullCrom's role in the prosecution, the one-sided media frenzy they incited, and the defense's inability to get in critical evidence at trial, infected the whole process," he said. Sullivan & Cromwell did not respond to a request for comment on Sunday. Bankman-Fried also said his defense team plans to appeal later this year based on certain trial testimony that he said, "greatly misstated what actually happened" and the fact that his defense was "not allowed to introduce crucial evidence or put on important witnesses." He did not offer specifics, explaining he did not want to impact his defense team's legal strategy. Following his Thursday sentencing, Bankman-Fried said he, "lost everything I had to lose." "I'd give anything to be out there, trying to make a positive difference in the world, but I know that's not going to happen. I can't help from prison," he said in court.

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