J.P. Morgan had no reason to devalue a payment company it co-owned with fintech business Werealize, a London judge ruled Thursday, in a decision that ended the companies' dispute over the investment bank's option to buy out its partner's stake in their joint venture.
Law360 UK
Financial Services
SATURDAY, JUNE 15, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

JP Morgan Had No Incentive To Devalue Fintech Joint Venture

By Ronan Barnard

J.P. Morgan had no reason to devalue a payment company it co-owned with fintech business Werealize, a London judge ruled Thursday, in a decision that ended the companies' dispute over the investment bank's option to buy out its partner's stake in their joint venture.

Read full article » | Save to favorites »

Analysis

How 3 Firms Cleared 2 Ex-Autonomy Execs In HP Fraud Case

By Bonnie Eslinger

A California federal jury's rejection last week of fraud charges against the founder and former finance vice president of British software company Autonomy validated an approach by the defendants' three law firms — Steptoe, Clifford Chance and Bird Marella — to form a "seamless" collaboration throughout the trial, from jury selection to closing arguments.

Read full article » | Save to favorites »

Analysis

Broad Consensus Emerges On Pensions Before UK Election

By Martin Croucher

The U.K.'s pension sector is set for a period of relative stability as the three main political parties this week unveiled manifestos that revealed more consensus than disagreement.

Read full article » | Save to favorites »

LITIGATION

Fladgate Blames Client's Wrong Instructions On $26.5M Loss

By Eddie Beaver

Fladgate LLP has denied owing an investment fund an estimated $26.5 million for allegedly giving negligent advice, saying the client aiming to recover money owed under bonds supplied incorrect information from the outset.

Read full article » | Save to favorites »

Media Personalities Appear At Court Charged Over Forex Ads

By Ronan Barnard

Six reality TV stars and social media influencers appeared at a London court for the first time Thursday charged with promoting an unauthorized trading scheme online that dealt with high-risk financial products tied to foreign exchange rates.

Read full article » | Save to favorites »

ENFORCEMENT

UK Adds 42 Entries To Russian Financial Sanctions List

By Sam Tabahriti

The U.K. government slapped further sanctions on Thursday on 42 individuals and entities involved in sectors of strategic significance to the Russian government, including financial services and defense, as it continues to respond to the unprovoked war waged by Russia against Ukraine.

Read full article » | Save to favorites »

POLICY & REGULATION

Labour Prioritizes Wealth Creation In Election Manifesto

By Joel Poultney

Keir Starmer said on Thursday that his Labour Party would kick-start a future of "national renewal" if it wins the general election, with economic growth and wealth creation driving a manifesto that lacked any surprise headline pledges.

Read full article » | Save to favorites »

Analysis

Labour Manifesto Targets Wealthy To Fill Funding Gaps

By Josh White

Labour set out plans in its election manifesto on Thursday to raise a total of more than £8.5 billion ($10.8 billion) in tax reforms that target wealthy taxpayers, although some analysts questioned whether the measures will add up.

Read full article » | Save to favorites »

DEALS

Payment Services Firm Launches £20M Share Buyback

By Irene Madongo

PayPoint PLC said Thursday it will start an up to £20 million ($25.6 million) share repurchase program, part of a planned three-year buyback scheme aimed at rewarding shareholders.

Read full article » | Save to favorites »

EXPERT ANALYSIS

EU Anti-Greenwashing Guide Analyzed For Fund Managers

Anna Maleva-Otto and Matthew Dow at Schulte Roth explain how the European Securities and Markets Authority’s new guidelines on sustainability-related terms in fund names aim to protect European Union investors from unsubstantiated claims, and how they provide quantifiable criteria for determining which terms can be used to promote their funds.

Read full article » | Save to favorites »

Promo that reads Law360 Pulse Summer Associates Survey Promo that reads Law360 400

LAW FIRMS IN TODAY'S NEWS

4 New Square

5 Paper Buildings

Bird Marella

Blackstone Chambers

Clifford Chance

Fladgate LLP

Fountain Court Chambers

Freshfields

Mishcon de Reya

Quinn Emanuel

Reynolds Porter

Schulte Roth

Signature Litigation LLP

Simmons & Simmons

Steptoe LLP

COMPANIES IN TODAY'S NEWS

Deloitte Touche Tohmatsu Ltd.

Hargreaves Lansdown

Institute for Fiscal Studies

JPMorgan Chase & Co.

London Stock Exchange Group PLC

Moscow Exchange

Organization for Economic Cooperation and Development

Pew Research Center

Quilter PLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

European Securities and Markets Authority

European Union

Federal Reserve System

Financial Conduct Authority

Office of Financial Sanctions Implementation

U.K. Foreign & Commonwealth Office

U.S. Attorney's Office for the Northern District of California

U.S. Department of Justice

U.S. District Court for the Northern District of California

United Nations