Large Cap
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September 17, 2024
Sheppard Mullin Scores Depp Trial Pro From Brown Rudnick
The co-lead counsel for Johnny Depp in his defamation trial against Amber Heard has moved from Brown Rudnick LLP to Sheppard Mullin Richter & Hampton LLP, which just last month announced it had landed five other attorneys from Brown Rudnick who worked on the Depp case.
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September 16, 2024
Silver Point Wraps $4.6B Opportunistic Credit Fund
Silver Point Capital beat its target to lock down $4.6 billion for its latest opportunistic credit fund, the Connecticut-based credit investing firm announced Monday.
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September 16, 2024
J&J Cheers Toss Of 'Indefensible' $260M Talc Verdict
An Oregon state judge rejected a jury's $260 million verdict for a woman who blamed Johnson & Johnson's talcum powder for her cancer diagnosis, a company spokesperson said Monday.
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September 16, 2024
Delaware Powerhouse: Richards Layton
Over the past year, Richards Layton & Finger PA has helped Gilead Sciences Inc. fight a potentially billion-dollar claim in which the federal government alleged the biopharmaceutical company infringed patents covering HIV drugs — one of a winning run of cases that earned the firm a spot on Law360's list of Delaware Powerhouses for 2024.
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September 13, 2024
The 2024 Regional Powerhouses
The law firms on Law360's list of 2024 Regional Powerhouses reflected the local peculiarities of their states while often representing clients in deals and cases that captured national attention.
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September 13, 2024
Yellow Corp.'s Bid To Ax $7.8B Pension Liability Rejected
A Delaware bankruptcy judge sided with the Pension Benefit Guaranty Corp. in its dispute with trucking firm Yellow Corp. over $7.8 billion in retirement fund withdrawal liability, ruling Friday that special federal funds from a 2021 COVID-19 stimulus package do not reduce or eliminate the debtor's liability.
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September 13, 2024
Trio Of BigLaw Mergers Expected To Drive More Deal Talks
After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.
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September 13, 2024
Mayer Brown Bankruptcy Ace Jumps To Pashman Stein In NJ
Pashman Stein Walder Hayden PC has bolstered its bankruptcy practice in New Jersey with the addition of a partner from Mayer Brown LLP along with two associates, expanding the firm's roster in a state known for attracting large and complex bankruptcy cases.
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September 13, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.
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September 12, 2024
8th Circ. Nixes $563M Verdict Against BMO Harris Over Ponzi
The Eighth Circuit on Thursday struck down a $563 million verdict against BMO Harris NA over claims that a bank it acquired had aided and abetted Thomas J. Petters' multibillion dollar Ponzi scheme, ruling that the bank should have been allowed to raise a defense that would have barred the suit in the first place.
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September 12, 2024
Steward Health Care CEO Faces Contempt For No-Show
A Senate committee said it would vote next week to hold now-bankrupt Steward Health Care CEO Dr. Ralph de la Torre in contempt after he failed to comply Thursday with a subpoena ordering him to testify at a hearing.
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September 12, 2024
Feds Eye Nixing Girardi's Ill. Case After Calif. Theft Conviction
The federal government might drop its criminal charges in Illinois against disbarred attorney Tom Girardi following his recent conviction in California on similar charges of stealing millions from clients, a prosecutor indicated Thursday during a status hearing in the Prairie State matter.
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September 12, 2024
Navient Agrees To Pay $120M To End CFPB Student Loan Case
Navient Corp. would be barred from servicing federal student loans and required to pay $120 million to settle allegations related to its student lending practices under a proposed settlement the Consumer Financial Protection Bureau announced Thursday.
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September 11, 2024
Litigation Spending To Rise As Cases Grow More Aggressive
A substantial number of large companies are expecting to increase their litigation spending by double digits next year in the face of more complex and hard-fought cases — and they are more open to bringing in new legal talent to navigate the matters, according to a report released Thursday.
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September 11, 2024
Hertz Noteholders Entitled To $270M Interest, 3rd Circ. Rules
Unsecured noteholders from Hertz's bankruptcy are entitled to roughly $270 million in interest as a so-called make-whole payment, a Third Circuit panel decided in a split ruling overturning a bankruptcy court opinion that said it was disallowed under the Chapter 11 code.
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September 11, 2024
Star Witness In Bankman-Fried Trial Seeks No Prison Time
Former FTX insider Caroline Ellison urged a Manhattan federal judge not to sentence her to prison for her part in the crypto exchange's massive fraud scheme, citing her remorse and the "devastating" trial testimony she gave against onetime romantic partner and company founder Sam Bankman-Fried.
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September 11, 2024
TD Bank To Pay $28M Over Consumer Reporting Failings
The Consumer Financial Protection Bureau hit TD Bank with a $20 million fine on Wednesday for its failures over inaccurate consumer credit reports and ordered it to pay nearly $8 million to customers, four years after the regulator imposed a $122 million fine against the bank over illegal overdraft fees.
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September 10, 2024
Ex-McElroy Deutsch CFO's Ch. 11 Case Nixed As 'Bad Faith'
McElroy Deutsch Mulvaney & Carpenter LLP convinced a New Jersey bankruptcy judge to throw out the Chapter 11 filing of its former chief financial officer, who is behind bars for stealing over $1 million from the firm, with the judge finding Tuesday that the petition was brought in "bad faith" to stall related state litigation.
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September 10, 2024
Will Tom Girardi's Age Impact His Sentence?
Disbarred attorney Tom Girardi's age and mental decline did not help him avoid conviction last month on charges that he stole millions in client funds, but it's an open question how much these factors will affect his sentencing, set for December.
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September 09, 2024
FTX To Pay $14M To Access $600M Robinhood Share Cashout
Defunct cryptocurrency exchange FTX Trading Ltd. has struck a $14 million deal that will let it access more than $600 million of cash and liquidated shares in Robinhood Markets Inc., in a settlement agreement with Sam Bankman-Fried-founded Emergent Fidelity Technologies Ltd.
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September 09, 2024
JC Penney Ch. 11 Sale Not Undervalued, Judge Says
A Texas bankruptcy judge on Monday shot down a bondholder's motion contesting the value of J.C. Penney's bankruptcy sale and its distribution to creditors, rejecting the claim that the sale of the retailer's real estate assets was significantly undervalued.
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September 09, 2024
Meet The Attorneys In The Big Lots Ch. 11
Big Lots, a discount home goods retail chain that entered bankruptcy Monday with $556 million in secured debt, has assembled a team of lawyers from Morris Nichols Arsht & Tunnell LLP and Davis Polk & Wardwell LLP to assist with its plans to shutter over 300 stores and sell the remaining business.
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September 09, 2024
Red Lobster Plan Confirmed, Big Lots Leads New Ch. 11s
A string of new Chapter 11 bankruptcies were recently launched in Delaware, including a case from national discount home goods retailer Big Lots, which plans to pursue a going-concern sale. Meanwhile, seafood dining chain Red Lobster is on track to hand over the reins to a new group of owners, led by a secured lender, after the debtor secured confirmation of its Chapter 11 plan.
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September 09, 2024
Fisker Can Take Votes On Ch. 11 Wind Down Plan, Judge Says
A Delaware bankruptcy judge on Monday cleared electric-car maker Fisker Inc. to send its Chapter 11 liquidation plan out to creditors for voting, shortly after the judge approved a settlement involving Fisker and an Austrian affiliate.
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September 09, 2024
Conn. Diocese Proposes $30M Plan For Abuse Claimants
The Roman Catholic Diocese of Norwich, Connecticut, has proposed a Chapter 11 reorganization plan, claiming it would provide better and quicker compensation to sex abuse claimants than the plan proposed by the unsecured creditors committee.