NEW YORK, NY / ACCESSWIRE / April 19, 2021 / Labaton Sucharow LLP, a national antitrust litigation firm, announces that it is investigating nCino (NASDAQ:NCNO) and Live Oak Bank for potential violations of the federal antitrust laws.
On February 24, 2021, nCino disclosed in an SEC filing that its officers and other employees were served with grand jury subpoenas wherein the Antitrust Division of the U.S. Department of Justice was seeking documents and information in connection with an investigation of the companies’ hiring and wage practices under U.S. federal antitrust laws. The practices allegedly under investigation include agreements between nCino and Live Oak Bank not to hire one another’s employees. These alleged practices are violations of Section 1 of the Sherman Act, 15 U.S.C. § 1, and have the purpose and effect of: (a) fixing compensation of employees at artificially low levels; and (b) eliminating competition for employees between the companies.
If you are a current or former employee of either nCino or Live Oak Bank, you may have been harmed by their conduct. If have questions about your legal rights or possess information relevant to this investigation, please contact Gregory S. Asciolla at 212-907-0827 or via email at [email protected].
About the Firm
Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in antitrust, securities, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.
Gregory S. Asciolla
SOURCE: Labaton Sucharow LLP