Bank of America has been hit with more than $1.21 billion in federal penalties after admitting to willfully violating U.S. anti-money laundering laws and failing to report more than $5 billion in suspicious transactions, including activity potentially linked to Chinese money laundering networks and illicit financing along the southern border.Announced... Read More »
Cornell University has banned parties and social events at fraternity houses for the remainder of the 2026-27 academic year after a former student accused seven fraternity members of drugging and gang-raping her. Any chapter that violates the restrictions faces an immediate emergency suspension under the university's new zero-tolerance policy.University President... Read More »
The pharmaceutical industry’s leading trade group is suing the Trump administration over a new Medicare drug-pricing program that could lower out-of-pocket costs for some patients receiving expensive cancer, autoimmune, and other medications administered in medical settings.The Pharmaceutical Research and Manufacturers of America, or PhRMA, filed the lawsuit on October 7,... Read More »
Getty Images plans to file for Chapter 11 bankruptcy and return to private ownership under a restructuring that would give affiliates of the Getty family and Koch Equity Development 100% of the reorganized company, ending the ownership stake of current public shareholders.The deal announced October 12, 2026, includes commitments for... Read More »
Warner Music Group has sued the parent company of Ray-Ban and Oakley, accusing the eyewear giant and several affiliates of using 427 copyrighted songs and recordings in social media advertisements without permission, potentially exposing the companies to more than $64 million in statutory damages.Filed October 9, 2026, in Manhattan federal... Read More »
Grammy-winning singer Muni Long has won a federal court ruling blocking her former managers from obtaining her medical records in a defamation dispute over her allegation that they tried to have her involuntarily committed to a mental health facility.In an October 8, 2026, order, U.S. Magistrate Judge Sarah Netburn ruled... Read More »
A Chicago man who has been a U.S. citizen for 15 years could lose his citizenship after the Justice Department accused him of concealing an abandoned green card, a previous identity, and an immigration exclusion order dating back more than three decades.Federal prosecutors filed a civil lawsuit against Emmanuel Tayo... Read More »
Independent musicians say their original songs have disappeared from Spotify, Apple Music and other streaming platforms after DistroKid began removing recordings in response to a copyright lawsuit from Universal Music Group, leaving some artists with copyright strikes, frozen royalty payments and little explanation of what they allegedly infringed.DistroKid confirmed that... Read More »
Character.AI has filed for Chapter 11 bankruptcy and launched a court-supervised sale that could decide the future of its chatbot platform, with Disney making a $20 million opening bid for certain intellectual property rights.Character Technologies filed on October 12, 2026, in the U.S. Bankruptcy Court for the District of Delaware... Read More »
The Justice Department is investigating CNN, Fox News, ABC, CBS and NBC for possible antitrust violations after the five major television networks suspended shared coverage of President Donald Trump in protest of his administration's decision to ban three news organizations from the White House. Federal investigators are examining whether the... Read More »
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