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EU imposes sanctions on world’s largest diamond mining company against Russia

JURIST

The Council of the European Union (EU) announced new sanctions imposed on the company PJSC Alrosa and its CEO Pavel Alekseevich Marinychev on Wednesday. The EU Council contended that the company accounts for over 90 percent of all Russian diamond production and constitutes a substantial revenue to the Russian government.

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Delaware bankruptcy judge grants motion to keep FTX customer list secret

JURIST

Judge John Dorsey of the United States Bankruptcy Court District of Delaware rejected in part and ruled in favor in part of a motion Friday by bankrupt cryptocurrency trading company FTX’s debtors and the Official Committee of Unsecured Creditors requesting the company’s customer list stay private.

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Russia national convicted for role in $90M hack-to-trade scheme

JURIST

Russian national Vladislav Klyushin Tuesday was convicted by a federal jury in Boston for his role in the orchestration of a $90 million hacking and insider trading scheme. The scheme in total turned a profit of more than $90 million between January 2018 and September 2020. Of that $90 million, Klyushin personally earned $38 million.

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Australian regulator fines X for failing to cooperate with child sexual abuse practices

JURIST

X’s non-compliance was considered to be serious by the eSafety Commissioner, with the company “failing to provide any response to some questions, leaving some sections entirely blank. During the change in ownership in October 2022, the proactive detection of child sexual exploitation material fell from 90% to 75%.

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China releases draft regulations requiring data protection audits for certain companies

JURIST

In cases involving governmental oversight, the auditing process must be completed within 90 days, with final reports submitted directly to the Chinese government. The regulations would also mandate companies to create response plans for data breaches and emergent contingencies. These regulations were made pursuant to the PIPL.

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Towers Watson Insurers Off Hook For $90M Merger Coverage

Law 360

Towers Watson's insurers do not need to cover settlements totaling $90 million in two shareholder suits stemming from the company's merger with Willis, a Virginia federal judge ruled, saying the transaction was barred by a so-called "bump-up" exclusion.

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Adidas withdraws trademark claim against Black Lives Matter

JURIST

The company was concerned that the public would confuse the two marks and assume Adidas is affiliated with BLM. Since 2008, Adidas has filed 90 lawsuits, reached 200 settlement agreements and filed 24 trademark registrations for different versions of the stripes.