Tag: lawsuit
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NY AG sues Citi over denied fraud claims
In a major legal move, the New York Attorney General (NY AG) has filed a lawsuit against Citigroup Inc. (Citi) over allegations of denied fraud claims. The case alleges that Citi unjustly rejected numerous fraud claims made by thousands of customers, causing significant financial harm to those affected. The lawsuit, which was filed on Monday…
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Morgan Stanley to pay USD 249 million
In a landmark settlement, Morgan Stanley has agreed to pay a staggering USD 249 million to resolve claims related to its misleading sales practices. This settlement marks a significant step towards holding financial institutions accountable for their actions. The allegations against Morgan Stanley revolved around the sale of mortgage-backed securities leading up to the 2008…
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Allianz files lawsuit against Revolut
Allianz, one of the world’s largest insurance companies, has recently filed a lawsuit against Revolut, the popular fintech startup. “We regret having to resort to legal action, but after multiple failed attempts to resolve our concerns, there was no other option left,” said the spokesperson for Allianz. The lawsuit alleges that Revolut has been infringing…
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FTC lawsuit knocks Amazon on payments play
FTC Lawsuit Knocks Amazon on Payments Play The Federal Trade Commission (FTC) has filed a lawsuit against Amazon, accusing the retail giant of engaging in unfair practices that negatively impact online sellers. This move by the FTC comes as a heavy blow to Amazon’s payments play, potentially leading to significant financial consequences and a…
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Wawa’s $10.7M data breach lawsuit against Mastercard thrown out
Wawa’s $10.7M Data Breach Lawsuit Against Mastercard Thrown Out Published on October 15, 2022 In a recent court ruling, the lawsuit filed by Wawa, the popular convenience store and gas station chain, against credit card company Mastercard, has been dismissed. Wawa claimed that Mastercard had failed to uphold its responsibilities in protecting user data following…