Login | June 30, 2026
The Daily Legal News
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Online brokerage not responsible for trader’s $25 million loss
An online brokerage firm that only provided routine business functions is not liable for $25 million lost by investors who funded a 20-year-old novice trader’s private hedge fund, the Supreme Court of Ohio ruled June 18.
In a 6-1 decision, the Supreme Court reversed an Eighth District Court of Appeals decision, which had f ... (full story)
Lawyers’ fund awards more than $400,000 to victims of attorney theft
The Board of Commissioners of the Lawyers’ Fund for Client Protection (LFCP) reimbursed $408,112.67 to 22 victims of attorney theft at its June meeting. Five former or suspended Ohio attorneys were found to have misappropriated client funds.
Since its inception, the LFCP has awarded more than $26 million to consumers.
... (full story)
Court orders Ohio restrictions on kids’ use of social media restored
COLUMBUS, Ohio (AP) — Ohio's law requiring children under 16 to get parental consent to use social media apps must be restored, a divided panel of the Sixth Circuit Court of Appeals ruled June 18.
The decision comes as a blow to NetChoice, which has won court victories against identical digital identification laws in other ... (full story)
A city's push for facial recognition on public buses ignites debate over security and privacy
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Officials in Kansas City, Missouri, are preparing to equip cameras on some public buses with facial recognition software capable of identifying passengers who appear on a list of banned riders or missing persons.
Supporters and opponents alike view the effort as a major litmus test for tapping the AI-powered software on a U.S. p ... (full story)
Bernie Sanders unveils plan to give the public direct ownership of AI companies
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WASHINGTON (AP) — As artificial intelligence companies reshape the economy and race toward trillion-dollar valuations, Sen. Bernie Sanders is proposing a sweeping transfer of wealth and power from the industry to the American public.
The legislation, shown first to The Associated Press, would create a sovereign wealth fund ... (full story)