archiveRSBI:LITIGATION

Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File Photo Acquire Licensing RightsWASHINGTON, Nov 3 (Reuters) - Onetime crypto poster child Sam Bankman-Fried was on Thursday found guilty of defrauding customers of his now-bankrupt crypto exchange FTX, in a high-profile criminal case that rocked the industry.But he's not the only one in regulators' sights. As token prices plummeted last year, the sector saw other stunning meltdowns that put several industry moguls into authorities' crosshairs.Investigations are not necessarily an...

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009 file photo. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsWASHINGTON/NEW YORK, Aug 14 (Reuters) - UBS (UBSG.S) agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis.The U.S. Department of Justice on Monday said it has collected more than $36 billion in civil fines from 19...

Company to wind down operationsThousands of workers at riskYellow intends to pay back U.S. government loanAug 7 (Reuters) - Some 30,000 workers at Yellow Corp (YELL.O) were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of the long-troubled carrier.The nearly 100-year-old company, which halted operations on July 30, has been a dominant player in the "less-than-truckload" segment that hauls cargo for multiple customers on a single truck.It laid blame for the bankruptcy,...

July 25 (Reuters) - UPS (UPS.N) and its Teamsters union have signed a tentative contract deal for about 340,000 U.S. workers at the parcel delivery firm, one week ahead of a threatened strike that could have cost the economy billions and disrupted a quarter of the nation's package shipments.Tuesday's agreement, which must be ratified by union members, cinches another win for transportation labor groups. Railroad, airline and West Coast seaport workers have all seen their bargaining hand strengthened by labor shortages and public support for those who risked their lives...

NEW YORK, June 6 (Reuters) - The top U.S. securities regulator sued cryptocurrency platform Coinbase on Tuesday, the second lawsuit in two days against a major crypto exchange, in a dramatic escalation of a crackdown on the industry and one that could dramatically transform a market that has largely operated outside regulation.The U.S. Securities and Exchange Commission on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a "web of deception".If successful, the lawsuits could transform the crypto...