Posted by Issam Abualnadi. Tax is a sum of money levied on incomes, property, sales, etc., by a government for its support or for specific services. (The American Heritage Dictionary). According to the IRS website, the origin of the income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress …
Monthly Archives: November 2015
Gucci Sues Alibaba Over “Counterfeit Goods”
Posted by Wing Sze Yu. This article talks about China’s leading online marketplace, Alibaba, being sued by the owner of Gucci, Yves Saint Laurent, Puma, Kering Group, and other fashion brands for selling fake goods. This is not the first time that Alibaba is being complained about selling fake goods. The company states that it is …
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Chase Settles Lawsuit Over Debt Collection
Posted by Alyssa Cohen. This year, JPMorgan Chase will settle the charges made against it for the use of illegal debt-collection practices made between 2009 and 2013. The lawsuit follows “a national settlement over similar allegations.” The nation’s largest bank miscalculated the amounts owed by customers, and sold debt to collectors that had been filed improperly …
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GNC: Hidden Chemical Lawsuit
Posted by Amber Piskunov. GNC is a widely known and trusted nutritional health retailer that is now being sued for allegedly selling products known to contain an illegal amphetamine-like stimulant. The two chemicals are called Picamilon and BMPEA. In addition to selling the illegal drug, GNC clearly intended for it to be hidden because the …
Volkswagen Emissions Scandal
Posted by Amber Piskunov. The well known German car maker, Volkswagen, has made headlines regarding a scandal involving software that cheats diesel emissions testing. This software has affected over 11 million diesel fueled cars creating many lawsuits. The cheating software covered up nitrogen oxide emissions and underestimated greenhouse gas emissions and also fuel consumption. This scandal …
Cyber Fraud Targets JP Morgan, Others
Posted by Kirill Ivanov. This article discusses a team of cyber criminals accused of cyber fraud for targeting various companies within the United States. Gery Shalon, Joshua Aaron, and Ziv Orenstein were charged in a 23-count indictment alongside crimes targeting 12 different companies. Their unlawful behavior is stated to be traced as far back as 2007. These …
Business Law Blogs Archives
Both sides of the political isle are pressuring the Fed to be more transparent regarding its monetary policy and cease “cozying up” to the banks it oversees. There are several legislative proposals that some prior Presidents of the Fed consider to be a threat to its independence. If any one of them are passed, it would be …
Facebook to Appeal a Belgian Court’s Ruling on Data Privacy
Posted by Wing Sze Yu. In this article, Facebook intends to appeal a data privacy ruling in Belgium. This privacy ruling forces social media to stop collecting digital information from people who are not its users. There is a tough line about how American technology companies, such as Facebook, gain access to, manage and use people’s …
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Mark Cuban Cleared of Insider Trading
Posted by Emmanuel Martinez. Mark Cuban who is well known for his high profile lifestyle has recently been acquitted from the charges against him for insider trading. The SEC brought a “civil lawsuit against Cuban in November 2008. A judge dismissed the suit in 2009 but an appeals court revived the case the following year.” Cuban …