GM will recall 200,000 Saab and Saturn cars replace Takata airbags. The airbags have been know to deploy with too much force, causing metal shrapnel to hit the driver and passengers. 10 people have died and 139 have been hurt, as a result.
Author Archives: blogbusinesslaw
Ransomware and Online Fraud
Posted by Charles Batikha. Ransomware is similar to a Trojan horse. Imagine receiving an email from a non-familiar email address. The email claims to be the IRS claiming you are being sued for tax evasion and instructed to click on a link to a website. You are skeptical, but what is the worst thing that …
Draft Kings, Fanduel Granted Emergency Stay to Continue in N.Y.
Posted by Stephen D’Angelo. Just six hours after New York Attorney General placed a temporary injunction, which would stop sites like Fanduel and DraftKings from doing business in New York, an appellate court saved them by issuing an emergency temporary stay that will allow New Yorkers to continue to use Fanduel and Draft Kings until …
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Reverse Mergers
Posted by Kevin Pereira. This past Thursday, the F.B.I. arrested Benjamin Wey at his home located in Manhattan. He was charged for “securities fraud, wire fraud, conspiracy and money laundering in an eight-count indictment unsealed in a federal court in Manhattan.” In addition, Mr. Wey had already been arrested for sexual harassment a couple months prior …
NY Fed Whistleblower Could Prompt Congressional Investigation
The Federal Reserve Bank of New York has come under fire recently with the release of secret tapes supposedly of regulators planning to “go soft” on Goldman Sachs. Carmen Segarra, a former employee who was assigned to Goldman, claims in a lawsuit that she was under pressure by her superiors to overlook certain findings she made concerning the …
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Cyber Attacks on Corporations – The “New War”
Hacking into computer systems is nothing new, and government and businesses alike have always been aware that they must be one step ahead of computer criminals. But the attack on Sony Pictures Entertainment was more than that. It was a shot across the bow in what appears to be a potentially rampant future form of warfare. As …
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Corruption Instead of Protection
Posted by Peyton Adams. Avery was wrongly convicted for strangling Maryetta Griffin. According to sources, Avery did not admit to the crime, and if he did, it was a forced confession. However, the jury did not believe him. The prosecution was able to sway the jury, which caused Mr. Avery to go to jail for …
BofA Reaches $17 Billion Settlement with Feds Over Sale of Securities
Bank of America reached a settlement with federal prosecutors over the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. BofA will pay 10 billion cash and about 7 billion in consumer aid. Most of BofA’s trouble is inherited from its purchase of Countrywide Financial. BofA was charged with misrepresenting the quality …
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Uber’s New Drivers Agreement Could Undermine Judge’s Ruling In Class Action Lawsuit
Posted by Stephen D’Angelo. Friday morning, two days after the judge presiding the Uber class action lawsuit decided that drivers attempting to arbitrate can be included in the law suit, Uber sent drivers a new agreement. The document undermined the judge’s ruling by revising the arbitration clause. Liss-Riordan and her team are filing an emergency motion …
Acceptance of Gifts by Public Officials
In class, students learn about bribery of public officials and its criminal penalties. Bribery can also be an ethics violation. Generally, public officials are prohibited from accepting gifts in relation to their official duties. Both federal and state governments have fashioned rules regarding acceptance of gifts and these rules can extend to family members. In Section …