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Law Firm

Hut 8 Corp. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before April 8, 2024 to Discuss Your Rights

NEW YORK, March 22, 2024 /PRNewswire/ — The Gross Law Firm issues the following notice to shareholders of Hut 8 Corp.

Shareholders who purchased shares of HUT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to take part in any recovery.

CONTACT US HERE:

Hut 8 Loss Submission Form

CLASS PERIOD: November 9, 2023 to January 18, 2024

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) one of the largest shareholders in US Data Mining Group, Inc. d/b/a US Bitcoins Corp. (“USBTC”), one of the companies that merged to create Hub 8, is an undisclosed related party; (2) one of USBTC’s core assets has historically failed to provide energy and high-speed internet; (3) the profitability of certain USBTC assets were overstated; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

DEADLINE: April 8, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/hut-8-loss-submission-form/?id=72088&from=4

NEXT STEPS FOR SHAREHOLDERS:

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Case Lawyer

Uber to pay Australian taxi operators $272 million in class action settlement

Uber has agreed to pay $271.8 million to Australian taxis and hire car drivers, operators and license holders to compensate them for losing income and license values ​​when the rideshare giant moves into the Australian market.

The class action against Uber was expected to go to trial in the Supreme Court of Victoria on Monday but Judge Lisa Nichols vacated it after the rideshare giant agreed to the colossal settlement.

It was the fifth-largest class action settlement in Australian history and one of the most successful class actions against Uber, the lawyers behind the case said.

Maurice Blackburn Lawyers principal Michael Donelly said the settlement was preceded by a five-year legal battle in which Uber “fought tooth and nail at every point along the way”.

An Uber sticker in the back window of a red car

Uber says ridesharing regulations did not exist when the company entered Australia.(ABC

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Law News

Corporate Law Update: 16 – 22 March 2024

Government sets out first proposals to alleviate non-financial reporting obligations

The Government has published a ministerial statement setting out its initial intentions to reform the UK’s non-financial reporting framework for companies and other business entities, with a view to creating a more proportionate regime.

The statement follows the Government’s call for evidence in June 2023. See our previous Corporate Law Update for more detail on the call for evidence on the UK’s non-financial reporting framework.

The statement confirms the following.

  • Company size thresholds. The Government intends to increase by 50% the financial thresholds used to determine whether a company is micro, small, medium-sized or large. These thresholds determine the level of reporting by a company, with large companies subject to significantly greater reporting requirements. The proposed new thresholds are set out in the statement.

    The Government estimates that this would result in 5,000 companies moving down from “large” to “medium-sized”, and 13,000 companies moving from “medium-sized” to “small”.

    The Government is not currently proposing to amend the current employee headcount thresholds in the short term. However, it intends to consult later in 2024 on amending the threshold for classification as a medium-sized company from 250 employees to 500 employees.

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Legal Update

New digital law may bring a fine for disinformation | Latest News India

The upcoming digital India bill may contain penalties for disinformation campaigns, or organized efforts to spread false or misleading information to manipulate public opinion, officials familiar with the matter said, adding that violations may lead to financial repercussions.

The upcoming digital bill may penalize disinformation campaigns, violations may lead to financial repercussions. (AP)
The upcoming digital bill may penalize disinformation campaigns, violations may lead to financial repercussions. (AP)

The central government is working on the digital India bill to replace the Information Technology (IT) Act, 2000, a move officials have said is born out of the need to overhaul laws and rules relating to technology, which has evolved significantly since the mainstay guardrails were put in.

According to a proposed draft seen by HT, any person who engages in action that promotes hatred, enmity hostility or directly or indirectly influences election outcomes will be liable for punishment for disinformation. The draft doesn’t, however, specify what the punishment will be.

To be sure, the draft will be fine-tuned further and released for public feedback before the Union cabinet hammers out the version that will go to parliament for approval.

Officials familiar with the matter said that the draft was evolving. “One of the proposals is to have financial penalties in order to deter disinformation campaigns,” one

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Law News

Hong Kong passes controversial security law which grants government more power to quash dissent | WorldNews

Hong Kong’s parliament has unanimously passed a new security law which grants the government more power to quash dissent.

The new legislation threatens sentences of up to life in prison for offenses including treason and insurrection, as well as stringent penalties for other offenses such as sabotage, external interference and theft of state secrets.

Hong Kong’s Legislative Council, which is packed with Beijing loyalists, says the new law aims to protect national security.

However, the move is widely seen as the latest step in a sweeping political crackdown following large-scale 2019 street protests that challenged China’s rule over the semi-autonomous territory.

Critics fear the new legislation – an expansion on the controversial imposition of the 2019 Beijing’s National Security Law – will further eradicate civil liberties that Xi Jinping’s government promised to preserve for 50 years when the former British colony returned to Chinese rule in 1997.

Amnesty International described the passing of the new legislation – named Article 23 – as a “crushing blow to human rights in the city”.

“The passing of Article 23 sends the clearest message yet that the Hong Kong authorities’ hunger to accommodate Beijing’s will strips any past commitments on human rights,” the group

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Attorney

No prosecution warranted for Lima critics, attorney says | News

NORTH KINGSTOWN, RI — An independent counsel has repudiated an attempt by Democratic Party leaders and school board Chairwoman Erin Earle to prosecute someone for making critical social media posts against School Committee member Jen Lima.

In a report issued Monday, Special Counsel Maria F. Deaton said that while Lima might feel “annoyed and alarmed,” there’s no evidence that the comments were cyberstalking or went beyond protected free speech under the US Constitution.

In addition, Deaton determined that Lima “in her public capacity, on her public social media accounts discussed matters involving different topics (public policy, political matters, etc.). It can be argued that the public has a right to comment on those public posts and the comments can be shown to be legitimate.”

The town’s Democratic Party’s top leaders, in a February letter to Town Manager Ralph Mollis, suggested that the police department had failed to do enough to investigate and prosecute Lima critic Alexander Cesaro.

At the time of the letter, a special counsel had already been hired because Lima and other school officials had complained of foot-dragging in the matter.

Deaton’s report and law enforcement officials’ chronology of events both show ongoing investigation of her claims of

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Attorney

NY attorney general takes step toward seizing Trump assets

The New York attorney general’s office has filed judgments in Westchester County, where former President Trump’s golf resort and private estate known as Seven Springs is located — a first step toward seizing the assets.

The judgments were filed with the Westchester County clerk’s office March 6, public records show. Judge Arthur Engoron, who oversaw the sweeping civil fraud trial against Trump and his business, formally entered his multimillion-dollar judgment just a week earlier.

Engoron ruled that Trump, the Trump Organization and top executives, including two of Trump’s sons — Eric and Donald Jr. — were liable for fraud after conspiring to change the former president’s net worth for tax and insurance benefits. He ordered them to pay $464 million, plus interest, in total.

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Trump has just four days to find the cash to post a surety bond for his portion of the judgment — a whopping $454 million, plus interest — before New York Attorney General Letitia James (D) can begin seizing his assets. If Trump posts the bond, the judgment would be automatically paused while the former president appeals Engoron’s ruling.

James has said that if

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Case Lawyer

Sam Smith & Normani Can’t Recover Legal Fees After Copyright Case Win

Six months after Sam Smith and Normani beat a copyright lawsuit over their 2019 hit “Dancing With a Stranger,” a federal judge is refusing to force their accuser to reimburse their legal fees — a bill the stars say exceeded $700,000.

Smith and Normani have argued that they shouldn’t be forced to foot the huge bill they incurred fending off the “frivolous and unreasonable” lawsuit, which claimed the duo had copied a little-known 2015 song of the same name when they created “Dancing .”

While US District Judge Wesley L. Hsu dismissed the lawsuit last year, he ruled Monday (Mar. 18) that the case was not so completely baseless as to warrant punishing the accuser with paying the stars’ massive legal bill.

“Plaintiff’s claims were neither frivolous nor objectively unreasonable,” the judge wrote, calling the lawsuit a “close and difficult case” on a “contentious area of ​​copyright law.”

Attorneys for Smith and Normani had argued that the lawsuit was merely a “gamble,” filed against the stars with “hopes for a massive payout.” But Judge Hsu said Monday there was “no evidence” of such ill intent by the accusers.

The case was filed in 2022 by songwriters Jordan Vincent, Christopher Miranda

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Law Firm

Law Firm Newswire Expands Press Release Distribution Plan Giving Lawyers Access to The Street and MSN for Less

San Francisco, California – Law Firm Newswire, the press release distribution service catering to law firms, announced today a significant expansion to their Primetime distribution plan. The press release distribution company will now incorporate The Street, and MSN to their Primetime distribution level. This move will offer law firms a more comprehensive network, reaching over 450 websites and other major broadcasting channels at a rate that competes with mainstream press release wires.

Previously, The Street and MSN were only available to law firms that opted for the top-tier LFN Spotlight network. However, this recent shift translates into a saving of $290/release for law firms making the Primetime plan a great way for lawyers to Make the News®.

The Primetime distribution level, with its reach of over 450 sites and networks, already included prominent news outlets such as Google News, Apple News, AP News, Bigger Law Firm Magazine, Digital Journal, and Benzinga, as well as local ABC, CBS, NBC, and Fox affiliates.

In addition to the expansion of the Primetime distribution level, Law Firm Newswire also announced a new addition to its top-level Spotlight distribution plan. Law firms sending news under the LFN Spotlight level will now have their announcement published

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Law Firm

International firm Bryan Cave Leighton Paisner announces second round of layoffs in under a year

Reuters reported that the legal industry, particularly in the US, has seen a series of layoffs among large firms over the past year, attributed mainly to a softening demand for legal services, especially within transactional practices. Although the pace of publicly confirmed layoffs seemed to have slowed in recent months, the sector remains in a state of flux, as evidenced by the nearly 10 percent workforce reduction at Silicon Valley-based Fenwick & West last month, a move reported by various media outlets.

Despite these industry adjustments, the broader US legal services sector appears resilient, adding 2,700 jobs in February and approaching its all-time employment high from December, per the latest US Labor Department data. This data encompasses various legal workers employed across law firms, companies, and other organizations.

This series of layoffs at BCLP follows the dismissal of 47 business services professionals globally last May. The previous round of layoffs was said to mainly affect secretarial and administrative positions in the US, attributed to “excess capacity following a comprehensive review of support ratios.”

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