Window slams shut on litigation funder floats after Burford Capital’s terrible week August 11, 2019 The attack by shortseller Muddy Waters on Burford Capital last week has slammed shut the window on other litigation funders looking to go public. Muddy Waters criticised Burford’s use of fair value accounting – the inclusion of unrealised gains – and accused the funder of “aggressively marking” the value of the cases on its books, something Burford denied. The Aim darling-turned-lame-duck lost [...]
Uber co-founder Travis Kalanick offloads $550m in shares November 11, 2019 Uber’s ousted co-founder and chief executive Travis Kalanick has sold nearly 21 per cent of his stake in the ride-hailing app since restrictions on trading expired last week. Read more: Uber shares hit record low after IPO lock-up expiry In a series of transactions, Kalanick sold more than 20m shares worth roughly $547m (£425m), according [...]
Trump sues Deutsche Bank and Capital One to block subpoenas to release financial records April 30, 2019 US President Donald Trump has filed a lawsuit against Deutsche Bank and Capital One in a bid to block the release of his financial records. Two US House Committees issued the banks with subpoenas earlier this month to release Trump’s business records as part of an investigation into the Trump family finances. Read more: US [...]
Law firm tries to muscle in on £1bn forex cartel claim November 6, 2019 US claimant law firm Hausfeld is trying to muscle in on a £1bn group action against a raft of banks who were found to have rigged the foreign exchange markets. The Competition Appeals Tribunal (CAT) heard today that Hausfeld is set to bring a claim by the end of November. The CAT was sitting for [...]
Ukraine and Russia complete prisoner swap in bid to improve ties September 7, 2019 Russia and Ukraine have exchanged prisoners in a long-awaited deal that is widely hoped will reduce tensions between the pair. Among the 70 prisoners freed were the 24 Ukrainian sailors, a “person of interest” regarding the crash of flight MH17 that took the lives of 298 people, and Ukrainian film director Oleg Sentsov. Read more: [...]
Elon Musk claims ‘pedo guy’ insult was not accusation September 17, 2019 Tech billionaire Elon Musk said he did not intend to accuse a British diver of paedophilia by calling him a “pedo guy” on Twitter. The Tesla founder last night sought to dismiss a defamation lawsuit filed by diver Vernon Unsworth, saying the phrase was a “common insult used in South Africa when I was growing [...]
Murdoch’s media empire hit by phone hacking charges as Sun suffers hefty loss February 23, 2020 Rupert Murdoch’s Sun newspapers have posted another year of deep losses after the publisher was forced to pay out millions of pounds to settle phone hacking cases. News Group Newspapers (NGN), which publishes the Sun and the Sun on Sunday, reported a pre-tax loss of £68m in the year to the end of June 2019. [...]
Huawei CFO’s arrest to be probed in Vancouver hearing September 23, 2019 Lawyers for Huawei’s chief financial officer Meng Wanzhou are set to probe her arrest in Vancouver airport during a court hearing today. Meng was arrested in December on suspicion of misleading banks and violating sanctions against Iran, and is now facing extradition to the US. Read more: Huawei drops lawsuit against US over seized equipment [...]
Facebook abandons appeal against £500,000 Cambridge Analytica fine October 30, 2019 Facebook has dropped its appeal over a £500,000 data protection fine for its Cambridge Analytica scandal. The social media network has made no admission of liability but will no longer contest the maximum fine imposed by UK watchdog the Information Commissioner’s Office. Billionaire Mark Zuckerberg appealed the penalty last November after the watchdog issued the [...]
Google unveils new Pixel 4 phone as it looks to take on Apple October 15, 2019 Google has unveiled its new series of Pixel phones with a host of upgraded features as the tech giant looks to challenge the dominance of rival Apple in the smartphone market. Read more: Google Safari lawsuit: iPhone users win appeal to seek £3bn in damages The new Pixel 4 phones, which come in two sizes, [...]