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International Criminal Court hit with cyber security attack
Securities Lawyers |
2025/07/02 10:15
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The International Criminal Court has been targeted by a “sophisticated” cyberattack and is taking measures to limit any damage, the global tribunal announced Monday.
The ICC, which also was hit by a cyberattack in 2023, said the latest incident had been contained but did not elaborate further on the impact or possible motive.
“A Court-wide impact analysis is being carried out, and steps are already being taken to mitigate any effects of the incident,” the court said in a statement.
The incident happened in the same week that The Hague hosted a summit of 32 NATO leaders at a conference center near the court amid tight security including measures to guard against cyberattacks.
The court declined to say whether any confidential information had been compromised.
The ICC has a number of high-profile investigations and preliminary inquiries underway in nations around the world and has in the past been the target of espionage.
In 2022, a Dutch intelligence agency said it had foiled a plot by a Russian spy using a false Brazilian identity to work as an intern at the court, which is investigating allegations of Russian war crimes in Ukraine and has issued a war crimes arrest warrant for President Vladimir Putin, accusing him of personal responsibility for the abductions of children from Ukraine.
Arrest warrants for Israeli Prime Minister Benjamin Netanyahu and his former defense minister, Yoav Gallant, over Israel’s campaign against Hamas in Gaza have also drawn ire. U.S. President Donald Trump slapped sanctions on its chief prosecutor, Karim Khan, in February and earlier this month also sanctioned four judges at the court.
The court is still feeling the effects of the last cyberattack, with wifi still not completely restored to its purpose-built headquarters.
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Judge to weigh Louisiana AG’s challenge to city jail’s ‘sanctuary’ policy
Securities Lawyers |
2025/04/30 06:29
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Louisiana Attorney General Liz Murrill is pushing forward with her efforts to force Orleans Parish Sheriff Susan Hutson to drop a longtime policy that generally prohibits deputies from directly engaging in federal immigration enforcement within the city’s jail.
In legal filings, Murrill claims that the policy — which the state characterizes as a so-called “sanctuary city” policy — is in direct conflict with a newly passed state law that requires state and local law enforcement agencies to cooperate with federal immigration agencies.
“The consent decree now sits fundamentally at odds with state law as applicable to immigration detainers,” Murrill said in court documents filed Friday.
A federal court will now determine whether to allow the state of Louisiana to join a 2011 federal suit that resulted in the policy and whether to throw out the policy altogether. A hearing has been set for April 30.
The state’s campaign against “sanctuary” policies comes as President Donald Trump is pushing local law enforcement agencies to join the federal government in his promised immigration crackdown. Since his inauguration, Trump has ordered the U.S. Department of Homeland Security to push for more partnerships between local law enforcement units and federal immigration agencies. A few have already signed up. Louisiana Gov. Jeff Landry, a longtime immigration hardliner and Trump ally, has worked with Republican lawmakers in the state to enact laws that encourage those collaborations.
As attorney general, Landry criticized a policy adopted by the New Orleans Police Department, under a long-running federal consent decree that blocks officers from enforcing immigration laws.
Neither Murrill’s office nor representatives for U.S. Immigration and Customs Enforcement responded to requests for comment.
In court filings, Murrill said Hutson “does not oppose the (state’s) intervention” in the case.” But a spokesperson for Hutson said that’s not exactly true. “It’s more accurate that we take no position regarding the state intervention,” a Sheriff’s Office spokesperson said in an emailed statement on Wednesday.
While she has not taken a position for or against increased collaboration with ICE, in an interview with Fox 8 in December, Hutson noted that the jail’s resources were far too stretched to take on immigration enforcement.
The sheriff’s policy stems from a 2013 federal court settlement in a civil rights case involving two New Orleans construction workers picked up on minor charges in 2009 and 2010. Mario Cacho and Antonio Ocampo sued after they were allegedly illegally held in the city’s jail past the completion of their sentences. The two were held at the request of U.S. Immigration and Customs Enforcement. The agency issues such “detainer” requests to local law enforcement agencies, asking them to hold onto arrestees who are suspected of immigration violations. Local agencies are only supposed to honor the hold requests for 48 hours, after which they should let detainees free. But in 2009 and 2010, then-Sheriff Marlin Gusman detained Cacho and Ocampo for months, according to legal filings in their case against the office.
Ocampo and Cacho settled the case with the Sheriff’s Office in 2013, and Gusman agreed to adopt a new policy on immigration investigations. The resulting policy blocks the agency from investigating immigration violations and from detaining immigrants for ICE without a court order, except in certain cases where they are facing charges for a small number of serious violent crimes.
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Trump signs order designating English as the official language of the US
Securities Lawyers |
2025/03/02 08:05
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President Donald Trump signed on Saturday an executive order designating English as the official language of the United States.
The order allows government agencies and organizations that receive federal funding to choose whether to continue to offer documents and services in language other than English.
It rescinds a mandate from former President Bill Clinton that required the government and organizations that received federal funding to provide language assistance to non-English speakers.
“Establishing English as the official language will not only streamline communication but also reinforce shared national values, and create a more cohesive and efficient society,” according to the order.
“In welcoming new Americans, a policy of encouraging the learning and adoption of our national language will make the United States a shared home and empower new citizens to achieve the American dream,” the order also states. “Speaking English not only opens doors economically, but it helps newcomers engage in their communities, participate in national traditions, and give back to our society.”
More than 30 states have already passed laws designating English as their official language, according to U.S. English, a group that advocates for making English the official language in the United States.
For decades, lawmakers in Congress have introduced legislation to designate English as the official language of the U.S., but those efforts have not succeeded.
Within hours of Trump’s inauguration last month, the new administration took down the Spanish language version of the official White House website.
Hispanic advocacy groups and others expressed confusion and frustration at the change. The White House said at the time it was committed to bringing the Spanish language version of the website back online. As of Saturday, it was still not restored.
The White House did not immediately respond to a message about whether that would happen.
Trump shut down the Spanish version of the website during his first term. It was restored when President Joe Biden was inaugurated in 2021.
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US inflation ticked up last month as some price pressures remain persistent
Securities Lawyers |
2024/12/08 09:52
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Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated.
Consumer prices rose 2.7% in November from a year earlier, up from a yearly figure of 2.6% in October. Excluding volatile food and energy costs, so-called core prices increased 3.3%, the same as in the previous month. Measured month to month, prices climbed 0.3% from October to November, the biggest such increase since April. Core prices also rose 0.3% for a fourth straight month.
Wednesday’s inflation figures from the Labor Department are the final major piece of data that Federal Reserve officials will consider before they meet next week to decide on interest rates. The relatively mild November increase won’t likely be enough to discourage the officials from cutting their key rate by a quarter-point. The probability of a rate cut next week, as envisioned by Wall Street traders, rose to 98% after Wednesday’s inflation report was released, according to futures pricing tracked by CME FedWatch.
“It’s generally in the ballpark of what the Fed would like to see,” said Jason Pride, chief investment strategist at Glenmede, a wealth management firm. Though sharp increases for such items as groceries and hotel rooms increased overall inflation last month, those categories are often volatile. Pride noted that the cost of services, such as rents, car insurance, and airline fares, cooled in November.
Last week, Fed Chair Jerome Powell suggested that with the economy generally healthy, the Fed could reduce its key rate slowly.
“We’re not quite there on inflation, but we’re making progress,” Powell said. “We can afford to be a little more cautious.”
With the job market cooling, growth in Americans’ paychecks has slowed from a nearly 6% annual pace in 2022 to about 4% now, a rate nearly consistent with inflation at the Fed’s 2% target. Powell has said he doesn’t think the current job market is a driver of higher prices.
Randy Carr, CEO of World Emblem, a maker of patches, labels and badges for companies, universities and law enforcement agencies, said he is providing smaller wage increases, in the 3% to 5% range, than his company did during the height of inflation.
“Things have kind of leveled off,” he said.
Carr’s customers, which include the company that makes emblems for UPS uniforms, generally won’t accept price hikes much more than 2% a year. So World Emblem aims to offset the cost of its higher wages through greater efficiencies in manufacturing.
In September, the Fed slashed its benchmark rate, which affects many consumer and business loans, by a sizable half-point. It followed that move with a quarter-point rate cut in November. Those cuts lowered the central bank’s key rate to 4.6%, down from a four-decade high of 5.3%.
Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major source of public discontent that helped drive President-elect Donald Trump’s victory over Vice President Kamala Harris in November.
Grocery prices jumped last month, an uncomfortable reminder for consumers that food prices remain a big drag on households’ budgets. Beef prices leapt 3.1% just from October to November and are up 5% from a year earlier.
Egg prices, which have been volatile for more than two years, in part because of outbreaks of bird flu, soared 8.2% just last month. They are nearly 38% higher than a year ago.
Gas prices ticked up 0.6% from October to November, ending a string of declines. Still, gas is down more than 8% from a year earlier. Hotel prices leapt 3.2% from October to November and are 3.7% higher than a year ago.
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Ford cuts 2024 earnings guidance due to warranty costs and slow pace of cost cutting
Securities Lawyers |
2024/10/26 08:47
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Stubbornly high warranty expenses and lagging cost-cutting efforts are holding back Ford Motor Co.'s profits this year, causing the company to lower its full-year earnings guidance.
That pushed the company’s stock price down 6% in trading after Monday’s closing bell.
The Dearborn, Michigan, automaker, which reported third-quarter earnings Monday, said its net profit tumbled nearly 26% as it took $1 billion in accounting charges to write down assets for a canceled three-row electric SUV.
Ford said it made $892 million from July through September, compared with $1.2 billion it made a year earlier.
But excluding the one-time items, the company made an adjusted pretax profit of $2.6 billion, or 49 cents per share. That beat analyst estimates of 46 cents, according to FactSet.
Revenue rose 5.5% to $46.2 billion, also beating Wall Street predictions. Ford reduced its full-year pretax income guidance to $10 billion, at the low end of the $10 billion to $12 billion it expected at the end of the second quarter, spooking investors.
“Cost, especially warranty, has held back our earnings power, but as we bend that curve, there is significant financial upside for investors,” CEO Jim Farley told analysts on a conference call.
Chief Financial Officer John Lawler said warranty costs were slightly below the third quarter of last year, but still high. The company wouldn’t give numbers until it files its quarterly report with securities regulators on Tuesday but said costs will be higher than a year ago.
Ford reported $800 million of increased warranty costs for the second quarter of this year.
Farley has been trying to get a handle on warranty costs for the past four years. In October of 2020, he said the company was working to cut quality-related repairs after glitch-prone small-car transmissions hit the automaker’s bottom line.
Ford has said that it has a $7 billion cost gap with competitors, and Lawler said Monday it has made progress on that figure. The problem is competitors, which he did not identify, are cutting costs too. “We’ve taken cost out, but we’re not doing it at a pace faster than our competition,” he told analysts.
Ford has removed $2 billion in material, freight and labor costs this year, but that was offset by warranties and inflation at its Turkish joint venture, he said.
He said Ford is focused on reducing warranty and other costs, which will show up in later quarters.
The company’s plans are working, as evidenced by 10 straight quarters of revenue growth, Lawler said.
Farley said Ford has restructured its operations in Europe, South America, India and China, which collectively lost $2.2 billion in 2018 but together are profitable now. For instance, China, including exports, has contributed over $600 million to pretax earnings this year, Farley said. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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