Corporate Crime/Legal Action
Elon Musk Says Twitter Deal On Hold Until More Clarity on Fake Accounts
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Tencent Faces Possible Record Fine for Anti-Money-Laundering Violations
HONG KONG—Chinese technology giant Tencent Holdings Ltd. TCEHY -5.19% is facing a potential record fine for violations of some central bank regulations by its WeChat Pay mobile network, as Beijing toughens its regulations for fintech platforms, according to people familiar with the matter. Financial regulators recently discovered that WeChat Pay had flouted China’s anti-money-laundering rules …
National Enquirer Parent, Ex-CEO Fined for Breaking Election Law in 2016 Campaign
The May 17 agreement between A360 Media LLC and the FEC characterized the $150,000 payment to model Karen McDougal as an illegal corporate campaign contribution. Federal law prohibits companies from making contributions to candidate committees. A spokesman for A360 Media and David Pecker, the former chief executive of American Media Inc., didn’t have an immediate …
The Five Biggest Issues for Technology Companies in 2021
After a year of startling growth, the tech industry faces a more vexing 2021. The pandemic helped bring the world’s tech giants such as Amazon.com Inc. and Microsoft Corp. to new heights in 2020. The shift to online shopping and remote working accelerated at a pace that would have been inconceivable without the coronavirus. But …
Voting-technology company Dominion seeks $1.3 billion in defamation suit against pro-Trump lawyer Sidney Powell
WASHINGTON (AP) — Dominion Voting Systems filed a defamation lawsuit against lawyer Sidney Powell on Friday, seeking at least $1.3 billion for Powell’s “wild accusations” that the company rigged the presidential election for Joe Biden. “Dominion brings this action to set the record straight,” the company said in the suit filed in federal court in …
Tech Giants Face New Rules in Europe, Backed by Huge Fines
European officials want new powers to oversee internal workings at large technology companies such as Facebook Inc., FB -0.56% backed by threats of multibillion-dollar fines, as they seek to expand their role as global tech enforcers. The European Union’s executive arm proposed two bills Tuesday—one focused on illegal content, the other on anticompetitive behavior—that would …
Investors Battle Fidelity in Court Over Tax-Break Deal
In the final days of 2017, Malcolm and Emily Fairbairn thought they had everything ready to cushion the income-tax hit from more than $200 million in hedge-fund income. They prepared a large charitable donation, using their relationship with Fidelity Investments and a booming energy stock to maximize their tax deduction. It didn’t go as they …
Justice Department Files Antitrust Lawsuit Against Google
The Justice Department filed an antitrust lawsuit Tuesday alleging that Google engaged in anticompetitive conduct to preserve monopolies in search and search advertising that form the cornerstones of its vast conglomerate. The long-anticipated case, filed in a Washington, D.C., federal court, marks the most aggressive U.S. legal challenge to a company’s dominance in the tech …
House Panel Says Big Tech Wields Monopoly Power
WASHINGTON—America’s biggest technology companies have leveraged their dominance to stamp out competition and stifle innovation, according to a Democratic-led House panel, which said Congress should consider forcing the tech giants to separate their dominant online platforms from other business lines. Republicans issued a separate response endorsing strong antitrust enforcement targeting the companies but didn’t endorse …
