Courts

U.S. lawyers are increasingly warning clients not to treat artificial-intelligence chatbots as confidential sounding boards after a federal judge in New York ruled that a former financial-services executive could not withhold chatbot-generated materials from prosecutors in a securities-fraud case.

A U.S. appeals court on Monday ruled that Bank of America cannot be sued over its closure of an Iranian American customer’s account after finding the bank was protected by a federal liability shield for actions taken in good faith to comply with U.S. sanctions laws. 

UBS AG is facing renewed pressure from the U.S. Senate Judiciary Committee over its handling of an investigation into possible Nazi-linked accounts at Credit Suisse, after the panel’s chairman accused the Swiss bank of withholding documents and obstructing a full review.

A French court on Monday sentenced former Lafarge chief executive Bruno Lafont to six years in prison for paying armed jihadist groups to keep the company’s Syrian cement plant operating in 2013 and 2014, in a ruling that Le Monde described as a landmark corporate terrorism-financing case.

UBS AG has won dismissal of money-laundering charges inherited from Credit Suisse over the long-running Mozambique tuna-bond scandal after a Swiss court found criminal liability could not be transferred after the bank’s 2023 takeover of its former rival.

UBS AG said it will not hand over privileged documents sought in an investigation into Credit Suisse’s handling of Nazi-linked accounts after a U.S. judge declined to give the bank assurances that doing so would not expose it to new legal claims.

UBS Group AG failed to convince a U.S. judge to clarify a 1999 settlement over Holocaust-era claims against Swiss banks, a setback for the lender as it seeks to head off potential new financial claims tied to Nazi victims’ assets.

A U.S. judge on Thursday granted preliminary approval to Bank of America’s $72.5 million settlement with women who accused the bank of facilitating Jeffrey Epstein’s sexual abuse.

A Malaysian court on Tuesday ordered jailed former Prime Minister Najib Razak to pay $1.3 billion to SRC International, a former unit of scandal-linked state fund 1MDB, after finding him liable for losses incurred by the company.

A U.S. judge has struck down a Treasury Department rule that required disclosure of the beneficial owners of companies making all-cash real estate purchases, dealing a setback to a Biden-era effort to curb money laundering through the property market.