UBS set to pay huge fines over Credit Suisse’s Archegos failings June 20, 2023 UBS is reportedly to set to pay out hundreds of millions of dollars in fines over Credit Suisse’s failings linked to the collapsed hedge fund Archegos Capital. Credit Suisse was one of the banks hardest hit by the collapse of Archegos, with the bank facing losses of around $5.5bn. In contrast, UBS faced a $861m [...]
On The Beach’s successful £2m dispute with Ryanair ‘sends an important message on how refunds should be handled’ October 31, 2023 In a ruling today, High Court judge Nigel Cooper KC calculated OTB group's claim to have succeeded over £2m.
H2O Asset Management suffers fresh auditing blow: How did it end up here? March 4, 2024 Beleaguered French investment firm H2O Asset Management has suffered a fresh blow after its auditors warned that the firm’s accounts “do not give a true and fair view” of its current financial position. But how did it end up here? Between 2015 and January 2020, H2O AM invested €2.3bn in illiquid private debt securities linked [...]
Court told that Matt Hancock’s tweet did not name Andrew Bridgen in ongoing libel battle March 1, 2024 Andrew Bridgen’s claim of libel from a tweet issued by Matt Hancock “fails to set out” any evidence that the tweet was about him, a court was told. The expelled former Tory MP Andrew Bridgen launched legal action against the ex-health minister and current independent MP, Matt Hancock last year. Bridgen had the whip removed [...]
Solicitors’ watchdog warns lawyers against using ‘abusive litigation tactics’ to silence valid criticism March 8, 2022 The solicitors’ watchdog has warned lawyers against working for clients seeking to use meritless lawsuits to silence criticism, in a crackdown on the use of Strategic Lawsuits against Public Participation (SLAPP). The Solicitors Regulation Authority (SRA) said lawyers have a duty to report situations in which they suspect the “underlying intention” of putting a lawsuit [...]
Twitter shareholders sue Elon Musk over ‘illegal’ bid May 27, 2022 Twitter’s shareholders have sued serial entrepreneur Elon Musk over his “illegal” takeover bid. Investors said that Musk’s decision to put on hold his initial $44bn bid brought Twitter’s value down, allowing him to either walk away from the deal or negotiate a lower price. The billionaire initially announced his intention to buy Twitter in late [...]
Solicitors’ watchdog advances crackdown on ‘lawfare’ with more than 20 SLAPP investigations June 26, 2022 The solicitors’ watchdog has launched more than 20 investigations into UK law firms over their involvement in SLAPP lawsuits, as part of its efforts to crack down on the use of Britain’s libel laws to silence the press and other legitimate criticism. The Solicitor’s Regulation Authority (SRA) now has more than 20 open cases over [...]
Tinder owner sues Google in bid to avoid 30 per cent in-app purchase fees May 10, 2022 Dating app conglomerate Match Group has sued Google in a bid to block it from charging hundreds of millions in fees on purchases made through the Google Play Store. The Tinder owner said it had filed its lawsuit as a “last resort” in its bid to block Google from charging a 15 per cent “tax” [...]
Claim brought by students against UCL will go to trial after settlement talks fail February 21, 2024 A group action against the University College London (UCL) over Covid-19 and strike-related disruptions will proceed to the High Court after settlement talks break down. A lawsuit brought initially filed with 924 students from UCL argues that the university breached its contract with them between 2018 and 2022 during lecturer strikes and Covid-related closures. The [...]
Mini-bond trial: London Capital & Finance administrators legal battle against former executives commences February 19, 2024 The administrators of London Capital and Finance (LCF) civil legal proceedings kick off today against the former executives of the company, including its former CEO Michael ‘Andy’ Thomson. The investment company collapsed back in 2019 after an intervention by the Financial Conduct Authority (FCA) following a discovery that LCF was marketing unregulated mini-bonds along with [...]