Porch Group, a U.S. homeowners insurance and home inspection software company, reportedly sued China Construction Bank (CCB), alleging reinsurance fraud. In its complaint, Porch alleged that the Chinese lender conspired with employees of Vesttoo, a now-bankrupt Israeli insurance firm, to issue fake reinsurance letters of credit, Reuters reported Friday...
TikTok and its parent company ByteDance filed a lawsuit Tuesday (May 7) asking the court to review the constitutionality of a law that requires ByteDance to sell TikTok’s U.S. business or have it shut down. “That law — the Protecting Americans From Foreign Adversary Controlled Applications Act (“the...
Google reportedly asked a judge to reject an Epic Games proposal that would reform how the Google Play store operates. Google said in a Thursday (May 2) court filing that the proposal “would make it nearly impossible for Google to compete,” Reuters reported Friday (May 3). A hearing on the request for...
Uber is reportedly facing a $312 million lawsuit from drivers of London’s black cabs. That suit, according to a Bloomberg news report Thursday (May 2), was filed by more than 10,800 cabbies and accuses the tech giant’s ride hailing operation of operating in Great Britain’s largest city...
The Federal Trade Commission (FTC) has announced a settlement with payment processing company BlueSnap and its former CEO Ralph Dangelmaier and former Senior Vice President Terry Monteith. The FTC charged these defendants with knowingly processing payments for deceptive and fraudulent companies from 2019 to 2021, the agency said in a Wednesday...
Eight newspapers owned by Alden Global Capital’s MediaNews Group are reportedly suing Microsoft and OpenAI, alleging that the tech companies used the newspapers’ content to train artificial intelligence (AI) models. The newspapers, which include the New York Daily News and Chicago Tribune, filed their suit in New York federal court on Tuesday (April...
The U.S. Chamber of Commerce is blasting the FTC’s new ban on non-compete clauses. Soon after the Federal Trade Commission (FTC) imposed the ban on Tuesday (April 23), the business lobbying group said it would sue to block the measure. “The Federal Trade Commission’s decision to ban employer non-compete...
A judge in the banking industry/CFPB legal battle can remain on the case. That’s according to a ruling — made public Thursday (April 18) by Reuters — by a judicial ethics panel, which convened to determine whether U.S. Circuit Judge Don Willett needed to recuse himself because...
The U.S. Supreme Court made a significant decision in a complicated case regarding ATM fees Monday (April 15), putting the spotlight on the use of cash and access to it. While ATMs represent a decidedly analog approach to personal finance, data and anecdotal evidence show...
