S&P knowingly generated artificially high credit ratings for risky securities to win business before the 2008 financial crisis, an investment company that acquired claims from several Bear Stearns funds alleged in a new court claim.
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S&P Accused Of Inflating Credit Ratings Ahead Of 2008 Crash

By William Janes

S&P knowingly generated artificially high credit ratings for risky securities to win business before the 2008 financial crisis, an investment company that acquired claims from several Bear Stearns funds alleged in a new court claim.

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Blur Drummer Says PRS Royalties CPO Was Wrongly Axed

By Eddie Beaver

Blur drummer Dave Rowntree told an appeals court on Thursday that an antitrust tribunal wrongly refused to certify his collective action over unfair royalty distributions, arguing that not every songwriter had to demonstrate a loss for the case to proceed.

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Justice Carr Says AI Helps Judges Digest Lawyerless Filings

By Max Austin

Lady Chief Justice Sue Carr has told lawmakers that artificial intelligence could help broaden access to justice, saying that some judges are finding AI makes submissions from litigants in person easier to parse.

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SECURITIES & BANKING

Lender Gets Possession Over Sanctioned Russian's Home

By Ronan Barnard

A mortgage provider won a dispute Thursday with the sanctioned daughter of Russian arms manufacturer Mkrtich Okroevich Okroyan when a London judge ruled that it can claim her home because she cannot make due payments.

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Forex Co. Placed In Administration Over Client Money Gap

By William Janes

The U.K.'s financial services regulator won an order on Thursday putting a currency exchange and international payment processing business into special administration over concerns about a suspected £2.8 million ($3.7 million) shortfall in customer money accounts.

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INTELLECTUAL PROPERTY

Squire Patton Settles £3.7M Claim Over Advice On Tech Deal

By Jamie Lennox

Squire Patton Boggs LLP has settled a claim in a London court that it caused a software company to lose £3.7 million ($4.9 million) through faulty advice on intellectual property ownership in a buyout of a rival.

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TAX

British Airways Hotel Costs Are Tax-Deductible, Tribunal Told

By Josh White

The cost of hotel rooms for cabin crew members serving on back-to-back flights is tax-deductible because overnight stays such as those are part of the employees' duties, British Airways told a London tribunal Thursday.

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EMPLOYMENT & BENEFITS

Costco Can't Fight Race Bias Claims After Deleting Emails

By Hanna Vioque

An employment tribunal on Thursday dismissed Costco's bid to defend itself against an ex-staffer's claims of race discrimination and harassment, ruling that its 10-month delay in submitting a response was entirely the company's fault after deleting emails notifying it of hearings.  

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Engineer Wins £26K After Quitting Job Over Lost Commission

By Jamie Lennox

A software development business must pay a former engineer £26,300 ($35,100) after it forced him to quit by failing to pay him commission he was entitled to, a tribunal has ruled.

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TransUnion Beats Bias Suit Over Insurance Age Cutoff

By Max Austin

TransUnion has successfully struck out an employee's age and disability discrimination claim after a tribunal found its health insurance policy clearly ended payments at retirement age.

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Brief

Employment Tribunal Backlog Grows To 531,000

By Max Austin

The backlog of employment tribunal cases in Britain hit a new high of 531,000 at the start of 2026 after workers filed more than 64,000 claims in the first quarter of the year, the Ministry of Justice said Thursday.

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LAW FIRMS IN TODAY'S NEWS

11 New Square

3 Verulam Buildings

4 New Square

Ashurst LLP

Brick Court Chambers

Clyde & Co

Crowell & Moring

Hogan Lovells

Hughes Hubbard

Irwin Mitchell

Macfarlanes LLP

Mills & Reeve

Monckton Chambers

Sharpe Pritchard

Squire Patton

Twenty Essex

Willkie Farr

COMPANIES IN TODAY'S NEWS

Aptiv PLC

British Airways PLC

Costco Wholesale Corp.

Deloitte Touche Tohmatsu Ltd.

Heathrow Airport Holdings Ltd.

S&P Global Inc.

TransUnion LLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

Competition Appeal Tribunal

Financial Conduct Authority

HM Revenue & Customs

House of Lords of the United Kingdom

U.S. Bankruptcy Court for the Eastern District of New York

UK Court of Appeal

UK High Court

UK Ministry of Justice

UK Upper Tribunal