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Companies Tesla Inc FollowJan 20 (Reuters) - Elon Musk, Tesla Inc's (TSLA.O) chief executive, is likely to be called to testify on Friday in a jury trial over his 2018 tweet that he had "funding secured" to take the electric carmaker private, which shareholders allege cost them millions in trading losses. The billionaire entrepreneur is listed as the third possible witness on Friday, after a securities expert and a Tesla investor, in the class action trial in San Francisco federal court. Fearing leaks to the media, Musk tried to protect the "everyday shareholder" by sending the tweet, which contained "technical inaccuracies," Spiro said. The defendants include current and former Tesla directors, whom Spiro said had "pure" motives in their response to Musk's plan. The trial resumes after a day off on Thursday.

Companies Royal Bank of Canada FollowJan 12 (Reuters) - The United States on Thursday filed a lawsuit against City National Bank, a unit of Royal Bank of Canada (RY.TO), under the federal Fair Housing Act. The lawsuit was filed with the federal court in Los Angeles, online court records show. RBC and City National had no immediate comment. A spokesman for the U.S. attorney's office in Los Angeles did not immediately respond to a request for comment. Reporting by Jonathan Stempel in New YorkOur Standards: The Thomson Reuters Trust Principles.

Companies JPMorgan Chase & Co FollowJan 12 (Reuters) - JPMorgan Chase & Co (JPM.N) on Thursday shut down the website of Frank, a college financial planning platform it acquired in 2021, after suing the startup's founder Charlie Javice and Chief Growth Officer Olivier Amar for creating nearly 4 million fake customer accounts. The largest U.S. bank by assets had paid $175 million for Frank in a bid to deepen its ties with students. The bank said it was led to believe more than 4.25 million students had created accounts on Frank. However, when JPMorgan sent marketing test emails to a list of Frank's customers that the company had provided, only 28% of them were delivered, the bank alleged. JPMorgan said it generally sees a delivery rate of 99% with similar campaigns.

Companies Apple Inc FollowMasimo Corp FollowJan 10 (Reuters) - A U.S. judge ruled that Apple (AAPL.O) had infringed on one of Masimo Corp's (MASI.O) pulse oximeter patents by importing and selling certain Apple Watches with light-based pulse oximetry functionality and components, Masimo said on Tuesday. The United States International Trade Commission (USITC) will now consider whether to implement an import ban on these Apple Watches, the medical device maker said. Reporting by Rahat Sandhu and Shivani Tanna in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Companies Trump Organization Inc FollowNEW YORK, Jan 10 (Reuters) - A longtime executive for Donald Trump is expected to be sent to New York's Rikers Island jail after being sentenced on Tuesday to five months behind bars for helping engineer a 15-year tax fraud scheme at the former president's real estate company. Allen Weisselberg, the Trump Organization's former chief financial officer, pleaded guilty in August, admitting that from 2005 to 2017 he and other executives received bonuses and perks that saved the company and themselves money. The sentence was imposed by Justice Juan Merchan in a New York state court in Manhattan. Reporting by Karen Freifeld in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

NSO had argued that it is immune from being sued because it was acting as an agent for unidentified foreign governments when it installed the "Pegasus" spyware. "NSO's spyware has enabled cyberattacks targeting human rights activists, journalists and government officials," Meta said. In one notorious case, NSO spyware was used - allegedly by the Saudi government - to target the inner circle of Washington Post journalist Jamal Khashoggi shortly before he was murdered at the Saudi consulate in Istanbul. According to court papers, the accounts of 1,400 WhatsApp users were accessed using the Pegasus tracking software, secretly using their smartphones as surveillance devices. The U.S. government in November 2021 blacklisted NSO and Israel's Candiru, accusing them of providing spyware to governments that used it to "maliciously target" journalists, activists and others.

☆ California doctor who drove Tesla off cliff to be charged with attempted murder
▼ + stars: | 2023-01-04 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +2 min

Patel was transported to hospital with serious injuries on Monday, the California Highway Patrol said. The children, who had minor injuries, were the first to be rescued, after which a helicopter hoisted the adults, who had more serious injuries, Pottenger said. "The children were secured properly in proper car seats, and the car seats were secured properly into the vehicle," Pottenger said. "The car seats saved the lives of those two kids, in our opinion." The Tesla driven by Patel was traveling on the main part of the roadway before it veered off the cliff, he said.

The government will give documents and evidence to Bankman-Fried’s lawyers in a process known as discovery. Prosecutors said on Tuesday that they have hundreds of thousands of documents with more on the way as they continue gathering evidence. Discovery can take months, particularly if disputes arise over what evidence the defense is entitled to see ahead of trial. Manhattan U.S. Attorney Damian Williams has said his office will continue to make announcements as its probe widens. Criminal defendants can change their plea at any time, and their lawyers often negotiate with prosecutors over a possible plea deal.

☆ Coinbase to pay $50 mln to settle NY state investigation, invest $50 mln in compliance
▼ + stars: | 2023-01-04 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 4 (Reuters) - U.S.-based cryptocurrency exchange Coinbase Inc (COIN.O) has reached a $100 million settlement with New York's Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday. The settlement, which includes a $50 million penalty, caps the regulator's investigation into the firm's compliance with requirements to prevent money laundering. “Coinbase failed to build and maintain a functional compliance program that could keep pace with its growth. That failure exposed the Coinbase platform to potential criminal activity," said New York DFS Superintendent Adrienne Harris. Coinbase, a publicly traded firm and one of the largest global crypto exchanges, will pay another $50 million to boost compliance efforts aimed at blocking potential criminals from using the exchange, the company said.

☆ Coinbase settles with New York regulators for $100 mln -report
▼ + stars: | 2023-01-04 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: 1 min

WASHINGTON, Jan 4 (Reuters) - U.S.-based cryptocurrency exchange Coinbase Global Inc (COIN.O) has reached a $100 million settlement with New York regulators, the New York Times reported on Wednesday. State financial regulators found the company had allowed customers to "open accounts without conducting sufficient background checks, in violation of anti-money-laundering laws," prompting a $50 million fine, the Times said. Another $50 million will be required to boost compliance efforts aimed at blocking potential criminals from using the exchange, it reported. Reporting by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

The exact contours of the Democrats' majority is in flux after Senator Kyrsten Sinema switched her party affiliation from Democrat to independent. But either she caucuses with Democrats and gives the party a 51-49 majority or she does not, leaving Democrats with a 50-49 edge. But in a 50-50 Senate where Democrats and Republicans had an even number of seats on the Senate Judiciary Committee, several civil rights lawyers and nominees supported by progressive advocates stalled with deadlocked votes. And in a 50-50 Senate, occasionally Vice President Kamala Harris was needed to cast a tie-breaking vote. Assuming they are renominated, their path to confirmation could be smoothed, as the Judiciary Committee under Durbin's leadership will now have a majority of Democrats.

☆ Ex-CFO pleads guilty to stealing from SPACs to trade meme stocks, cryptocurrencies
▼ + stars: | 2023-01-03 | by ( Jonathan Stempel | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +2 min

Companies African Gold Acquisition Corp FollowNEW YORK, Jan 3 (Reuters) - A former chief financial officer of multiple special purpose acquisition companies (SPACs) has pleaded guilty to embezzling more than $5 million from them, and losing almost all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, 35, of Fernandina Beach, Florida, pleaded guilty to one count of wire fraud on Tuesday before U.S. District Judge Paul Engelmayer in Manhattan federal court. African Gold said at the time it terminated Morgenthau after learning about his "improper withdrawals" and attempts to conceal them. In pleading guilty, Morgenthau "admitted that he breached the trust that he owed to his public and private investors," U.S. Attorney Damian Williams in Manhattan said in a statement. Reporting by Jonathan Stempel in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

He is scheduled to appear at 2 p.m. EST (1900 GMT) before U.S. District Judge Lewis Kaplan in Manhattan. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. The prosecution case was strengthened by last month's guilty pleas of two of Bankman-Fried's closest associates. Caroline Ellison, who was Alameda's chief executive, and Gary Wang, FTX's former chief technology officer, pleaded guilty to seven and four criminal charges, respectively, and agreed to cooperate with prosecutors. Bankman-Fried, Ellison and Wang were also sued by the U.S. Securities & Exchange Commission and Commodity Futures Trading Commission.

☆ Judicial security focus of U.S. Chief Justice Roberts' annual report
▼ + stars: | 2022-12-31 | by ( Richard Cowan | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +2 min

[1/2] Chief Justice of the United States John Roberts departs the Trump impeachment trial in Washington, U.S., January 29, 2020. REUTERS/Brendan McDermidWASHINGTON, Dec 31 (Reuters) - U.S. Supreme Court Chief Justice John Roberts on Saturday focused a year-end report on the judiciary on the need for stepped up security for federal judges, amid a surge in threats and as the United States is embroiled in a bitter debate over abortion. Roberts' nine-page annual report came just two weeks after the U.S. Congress approved legislation that aims to bolster security for Supreme Court justices and federal judges by allowing them to shield their personal information from being available online. "I want to thank the members of Congress who are attending to judicial security needs ... essential to run a system of courts," Roberts wrote in his 2022 Year-End Report on the Federal Judiciary. An armed California man was charged last June with attempted murder after being arrested near the home of Justice Brett Kavanaugh.

☆ China gives Hong Kong leader power to bar overseas lawyers in national security cases
▼ + stars: | 2022-12-31 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +3 min

The NPCSC ruling said Hong Kong courts must now obtain approval from the chief executive before admitting any foreign lawyer without local qualifications to work on national security cases. Under the national security law, the decisions made by the committee cannot be challenged by a judicial review. "Beyond national security cases, then they are most welcome, provided that they satisfied the procedure to obtain an ad hoc admission approval by the court," Lee said. The founder of now shut pro-democracy newspaper Apple Daily, Lai is one of the most prominent Hong Kong critics of China's Communist Party leadership, including Xi Jinping. Reporting by Hong Kong newsroom; Editing by Anne Marie Roantree and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2 p.m. EST (1900 GMT) on Tuesday before U.S. District Judge Lewis Kaplan in Manhattan to enter a plea. It is not unusual for criminal defendants to initially plead not guilty. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. The prosecution case was strengthened by last month's guilty pleas of two of Bankman-Fried's closest associates.

☆ Bankman-Fried set to enter initial not guilty plea in FTX fraud case -source
▼ + stars: | 2022-12-30 | by ( Jack Queen | Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | ) www.reuters.com time to read: +1 min

Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2 p.m. EST (1900 GMT) on Tuesday before U.S. District Judge Lewis Kaplan in Manhattan to enter a plea. The Massachusetts Institute of Technology graduate has been charged with two counts of wire fraud and six conspiracy counts, including to launder money and commit campaign finance violations. Bankman-Fried has admitted to making mistakes running FTX but said he did not believe he was criminally liable. Reporting by Jack Queen; Editing by Noeleen Walder and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ First pre-trial hearing in Microsoft-Activision case set for Jan. 3
▼ + stars: | 2022-12-30 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +1 min

WASHINGTON, Dec 30 (Reuters) - A judge has set Jan. 3 for the first pre-trial hearing in the Biden administration's case against Microsoft (MSFT.O) over its $69 billion bid to take over "Call of Duty" maker Activision Blizzard (ATVI.O). Microsoft has countered that the deal would benefit gamers and gaming companies alike, offering to sign a legally binding consent decree with the FTC to provide "Call of Duty" games to rivals including Sony (6758.T) for a decade. Microsoft made the argument in a filing aimed at convincing a judge at the FTC to allow the deal to proceed. The case is a sign of the administration of U.S. President Joe Biden taking a muscular approach to anti-trust enforcement. Reporting by Alexandra Alper; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

But in a late Wednesday night court filing, a group of non-U.S. FTX customers who say they are owed $1.9 billion told U.S. Bankruptcy Judge John Dorsey that this case is different. FTX, once led by Sam Bankman-Fried, is also seeking an exception that would keep its customers' names secret. In October, for example, the judge overseeing Celsius Network's bankruptcy ruled that customer names must be revealed, but their addresses and email addresses could be kept secret. He has asked a committee representing all FTX creditors to weigh in. Lawyers for the official FTX creditors committee did not immediately respond to a request for comment on Thursday.

[1/2] A Hershey's chocolate bar is shown in this photo illustration in Encinitas, California January 29, 2015. REUTERS/Mike Blake/File PhotoCompanies Hershey Co FollowNEW YORK, Dec 29 (Reuters) - Hershey Co (HSY.N) has been sued by a consumer who accused the company of selling dark chocolate that contains harmful levels of lead and cadmium. In a proposed class action filed on Wednesday, Christopher Lazazzaro said he would not have bought or would have paid less for Hershey's Special Dark Mildly Sweet Chocolate, Lily's Extra Dark Chocolate 70% Cocoa and Lily's Extreme Dark Chocolate 85% Cocoa had Hershey disclosed their metals content. Some studies suggest that the antioxidants and relatively low levels of sugar in dark chocolate could help prevent cardiovascular disease. Hershey's Special Dark bar and Lily's 70% bar were high in lead, and Lily's 85% bar was high in lead and cadmium, the magazine said.

Dec 29 (Reuters) - The U.S. government on Thursday filed a civil lawsuit accusing the drug distributor AmerisourceBergen Corp (ABC.N) of contributing to the deadly U.S. opioid epidemic by repeatedly failing to report suspicious orders of prescription painkillers. "The United States brings this suit to hold defendants accountable for their egregious failure to report suspicious orders and their role in contributing to the opioid epidemic," the Justice Department said in its complaint. The company has long denied contributing to the opioid epidemic. Thursday's lawsuit is latest in a series of criminal and civil actions the Justice Department has pursued against companies accused of fueling the opioid epidemic. Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama and David GregorioOur Standards: The Thomson Reuters Trust Principles.

BOSTON, Dec 28 (Reuters) - Federal prosecutors on Wednesday asked a judge to sentence the mastermind of the largest U.S. college admissions fraud scheme ever uncovered to six years in prison after he helped them secure the convictions of dozens of wealthy parents including Hollywood celebrities. Prosecutors made the recommendation a week before William "Rick" Singer, the college admissions consultant at the center of the "Operation Varsity Blues" investigation, goes before a judge for sentencing after pleading guilty in 2019. Prosecutors said Singer, operating through his California-based college admissions counseling service The Key and a related charity, took in more than $25 million from his clients. They said he paid out more than $7 million to bribe coaches and administrators at schools including Georgetown University, the University of Southern California, Yale University and Stanford University. Singer, who now lives in a Florida trailer park, in his own filing wrote that he lost everything by "ignoring what was morally, ethically, and legally right in favor of winning what I perceived was the college admissions 'game.'"

DePape pled not guilty on Wednesday to all charges and denied all the allegations, San Francisco District Attorney Brooke Jenkins said in a statement. In November, DePape pleaded not guilty to federal criminal charges in relation to the attack on the House speaker's husband. A San Francisco police officer testified earlier in December that he witnessed the October attack. Prosecutors say the suspect, demanding to see the Democratic House speaker, had broken into her home and attacked her husband. After the attack, Paul Pelosi underwent surgery for a skull fracture and injuries to his right arm and hands.

NEW YORK, Dec 28 (Reuters) - Sam Bankman-Fried is expected to enter a plea next week to criminal charges he defrauded investors and looted billions of dollars in customer funds at his failed FTX cryptocurrency exchange. Kaplan was assigned to the case on Tuesday, after the original judge recused herself because her husband's law firm had advised FTX before its collapse. Before his Dec. 12 arrest, Bankman-Fried acknowledged risk-management failures at FTX, but said he did not believe he was criminally liable. Two of his associates, former Alameda chief executive Caroline Ellison and former FTX chief technology officer Gary Wang, have pleaded guilty over their roles in FTX's collapse and agreed to cooperate with prosecutors. Its new chief executive, John Ray, told Congress on Dec. 13 that the exchange lost $8 billion of customer money while being run by "grossly inexperienced, non-sophisticated individuals."

Dec 27 (Reuters) - FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company's holdings of digital assets belong to customers. The proposed class, which wants to represent more than 1 million FTX customers in the United States and abroad, seeks a declaration that traceable customer assets are not FTX property. The customer class also wants the court to find specifically that property held at Alameda that is traceable to customers is not Alameda property, according to the complaint. The lawsuit seeks a declaration from the court that funds held in FTX U.S. accounts for U.S. customers and in FTX Trading accounts for non-U.S. customers or other traceable customer assets are not FTX property. If the court determines it is FTX property, then the customers seek a ruling that they have a priority right to repayment over other creditors.

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