Amazon sued by FTC and 17 states, including Michigan, over allegations it inflates online prices and overcharges sellers
The complaint is the result of a years-long investigation into Amazon’s businesses and one of the most significant legal challenges brought against the company.
Read more at WZZM 13
Owner of Barrio Tacos GR accused of 'tip-pooling scheme,' owes employees backpay
The owner of a West Michigan-based taco place is facing a lawsuit from the federal government over allegedly requiring some employees to give up tip money that would later be distributed to kitchen employees.
Read more at Fox17
Digital ID Cards Spread Across US States With Range of New Uses
A growing number of US states are letting residents prove their identity digitally, offering a more modern method than physical credentials for purchasing age-restricted products, seeking government benefits, or even checking in at the polls.
Read more at Bloomberg Law
Long-Awaited Bitcoin Accounting Rules to Capture Rises, Dips
Crypto companies and other businesses with significant holdings of digital currencies will get long-awaited accounting rules to measure the value of the Bitcoin, Ethereum, and other crypto in their coffers, US accounting standard-setters unanimously voted Wednesday.
Read more at Bloomberg Law
Goldman, JPMorgan, Morgan Stanley, UBS in $499 million stock lending settlement
Investors accused the banks of having conspired since 2009 to relegate the stock lending market to “the stone age” by boycotting startup platforms.
Read more at CNN
The Ninth Circuit, which in June had its free speech-based finding for VIP overturned, instead chose to simply vacate the trial court’s ruling and send the case back to the US District Court for the District of Arizona.
Read more at Bloomberg Law
Michigan Cannabis Regulators Can Do Whatever, But You Can't Sue Them In Supreme Court Because...Well, Pot Is Illegal
A federal court ruled this week that whether or not Michigan regulators violated the law really doesn’t matter, because...well, cannabis is still illegal under federal law.
Read more at Benzinga
In light of the potential consequences resulting from employee workplace recordings, some employers may be inclined to just ban all such recordings to avoid the problem entirely. Unfortunately for these employers, such an approach may be at odds with federal labor law.
Read more at Reuters
Bank of America has to pay up for "double-dipping" on overdraft fees, withholding reward bonuses, and opening accounts without authorization.
The Consumer Financial Protection Bureau has ordered Bank of America to pay more than $100 million to customers in Michigan and 37 other states.
Read more at Patch
The June 9 decision hewed closely to the US Court of Appeals for the Third Circuit’s analysis earlier this year in its dismissal of a Johnson & Johnson subsidiary’s bankruptcy on similar grounds.
The two rulings are a pair of major setbacks for solvent companies eyeing bankruptcy to handle mass tort liabilities—a practice that has seen substantial growth in recent years.
Read more at Bloomberg Law
