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New Jersey
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September 23, 2024
Credit Suisse Can't Ditch Investor Fraud Suit, But PwC Can
A New York federal judge has declined to fully dismiss a proposed class action alleging Credit Suisse misled investors about its condition in the run-up to its collapse and takeover by UBS, ruling that a narrow part of the litigation can proceed while much of it — including claims against PwC — must go.
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September 23, 2024
J&J Talc Claims Paused In Latest Spinoff Ch. 11
A Texas bankruptcy judge Monday froze certain talc personal injury litigation against Johnson & Johnson, saying a three-week administrative stay will give the court time to decide key jurisdictional issues in the Chapter 11 case of Red River Talc LLC, a newly created J&J spinoff and the pharmaceutical and cosmetics giant's latest attempt to settle claims in bankruptcy that its baby powder caused cancer.
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September 23, 2024
3rd Circ. Revives $60M Moroccan Hotel Award Fight
The Third Circuit has sent a decision over a $60 million arbitral award favoring the Royal Mansour Hotel's current owner back to a lower court for further consideration, saying the company has plausibly argued that it didn't cause the Moroccan establishment to fall into financial ruin.
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September 23, 2024
Mallinckrodt Brass Can't Avoid Investor Suit Over 2nd Ch. 11
A New Jersey federal judge ruled Monday that senior leaders of drugmaker Mallinckrodt cannot escape a lawsuit brought by shareholders alleging the company tricked them into thinking it had recovered from bankruptcy and would make a $200 million payment to opioid claimants, finding the investors sufficiently pleaded securities law violations.
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September 23, 2024
States, Enviros Urge USPS Vehicle Plan Challenge To Proceed
States and environmentalists have pushed back against the U.S. Postal Service and Oshkosh Defense's efforts to end a lawsuit alleging the USPS' multibillion-dollar delivery vehicle acquisition plan violates environmental law, saying the plan was inadequate and would harm them.
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September 23, 2024
NJ Justices Probe State's Role In Tax Sale Foreclosures
The New Jersey Supreme Court on Monday probed whether the state's Tax Sale Law still holds up in the wake of a 2023 U.S. Supreme Court ruling that the government cannot profit from a property seizure, pondering the state's role in tax sale foreclosures and if a private, third-party lienholder could be considered a state actor.
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September 23, 2024
Ex-Holtec CIO Says She's Owed More Than $500K Bonus
The former chief investment officer for Holtec International is alleging in New Jersey federal court that she was demoted then fired earlier this year after expressing her concern over the company's bonus structure and its failure to pay her bonuses on time in violation of the state's wage payment law.
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September 23, 2024
Radio Station Could Lose FCC License Over $32K In Back Fees
The Federal Communications Commission is threatening to strip a New Jersey gospel radio station's license over delinquent regulatory fees, telling the station it needs either to pay up, explain why the fees should be waived or risk losing its broadcast license.
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September 23, 2024
Amneal Latest Generic EpiPen Maker To Fight Colo. Law
Amneal Pharmaceuticals has sued Colorado in federal court alleging that a state drug affordability program resulted in unconstitutional takings of its generic epinephrine auto-injectors.
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September 23, 2024
Profs, Retired Judges Ask Justices To Uphold Return Of Taxes
Two former bankruptcy judges and a group of law professors threw their support behind the bankruptcy trustee of a Utah transportation company seeking to convince the U.S. Supreme Court that the IRS, like any other creditor, should have to return payments deemed fraudulent under state law.
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September 23, 2024
3rd Circ. Vexed By Time-Tracking Role In $22M Wage Case
The Third Circuit contemplated on Monday whether a Pennsylvania battery manufacturer shorted workers $22 million for time they spent putting on and taking off protective gear, with one judge questioning the employer's stance that it was the workers' responsibility to track their donning and doffing time.
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September 23, 2024
J&J Accuses Beasley Allen Of Casting Bogus Talc Ballots
Johnson & Johnson has accused the Beasley Allen Law Firm of casting about two dozen false ballots against the company's latest talc bankruptcy plan without voters' consent and urged a New Jersey federal court to remove the firm from the plaintiff's steering committee as a consequence.
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September 23, 2024
Law Firm Accused Of 'Gamesmanship' In NJ Malpractice Suit
A pair of siblings suing Chaitman LLP for malpractice in New Jersey told the state court that the firm is delaying the litigation with a discovery motion about the order in which depositions should be taken that "should never have been filed to begin with."
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September 23, 2024
Conn. Reaches $5M Deal To Resolve Vision Solar Case
Connecticut is asking a judge to sign off on a judgment that would impose a $5 million civil penalty against Vision Solar LLC to resolve the state's unfair trade practices complaint against the bankrupt company.
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September 20, 2024
Real Estate Recap: Infrastructure Rally, Insurance Reckoning
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including revived interest in infrastructure-focused funds and the next installment in a new series exploring the effects of extreme weather on the property insurance market.
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September 20, 2024
3rd Circ. CFPB Ruling Threatens Securitization, Justices Told
Two major trade groups for the securities industry have urged the U.S. Supreme Court to review a Third Circuit decision allowing the Consumer Financial Protection Bureau to exercise enforcement authority over a collection of student loan securitization trusts, slamming the ruling as wrong and dangerous.
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September 20, 2024
3rd Circ. Rejects 'Close' Case For Preemption In Fosamax MDL
A U.S. Food and Drug Administration letter denying changes to the label of Merck's osteoporosis drug Fosamax does not count as a final agency action triggering federal preemption of state law "failure to warn" claims, the Third Circuit ruled Friday in a precedential decision.
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September 20, 2024
BofA, Consumers Ink Deal To End COVID Card Fraud Claims
Bank of America informed a New Jersey court on Friday it has reached a settlement in principle with three consumers who launched a proposed class action over the bank's allegedly insufficient security measures affecting prepaid debit cards for unemployment benefits during the height of the COVID-19 pandemic.
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September 20, 2024
Doctor Can't Secure Disability Coverage, 3rd Circ. Affirms
An ophthalmologist cannot secure total-disability benefits from his occupational disability insurer after he was diagnosed with a nerve condition preventing him from performing surgeries, the Third Circuit ruled, noting he still maintained his practice even after he stopped performing the surgeries.
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September 20, 2024
Car Crash Claims Against Uber Sent To Arbitration
A New Jersey appeals panel on Friday sent a couple's suit against Uber Technologies Inc. over a car accident to arbitration, finding that a user agreement for Uber Eats that includes an arbitration clause is valid and enforceable.
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September 20, 2024
Jewelry Co. Says Target Stole Design Of Blood Drip Necklace
A New York jewelry company accused Target of copying the design of one of its Halloween-themed necklaces for the second time, according to a lawsuit filed Thursday in New Jersey federal court.
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September 20, 2024
J&J Makes Third Try At Handling Talc Claims In Bankruptcy
A Johnson & Johnson talc unit filed for Chapter 11 protection in Texas bankruptcy court Friday, marking the third time the company has tried to deal with liability from alleged asbestos-contaminated talc with a bankruptcy filing.
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September 20, 2024
Seward & Kissel Says NJ Malpractice Docs Are Privileged
Seward & Kissel LLP has asked a New Jersey state judge to reject a discovery bid from the wife of hedge fund Two Sigma Investments LP's founder in her malpractice suit, arguing that the documents in question are protected by attorney-client privilege.
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September 19, 2024
Feds Can't Order $31M To Refill Class Funds, 3rd Circ. Told
A New Jersey man convicted for stealing $40 million from settlements in stockholder class actions told a Third Circuit panel Thursday the multimillion-dollar restitution ordered at his sentencing is unlawful and should be vacated, arguing that the settlements weren't harmed.
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September 19, 2024
Ch. 7 Trustee Urges Justices To Uphold Return Of Taxes
The bankruptcy trustee of a defunct Utah transportation company warned the U.S. Supreme Court on Thursday that overturning a decision forcing the IRS to return tax payments made by company directors to cover their personal debts would encourage shareholder fraud.
Expert Analysis
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5 Lessons For SaaS Companies After Blackbaud Data Breach
Looking at the enforcement actions that software-as-a-service provider Blackbaud resolved with state attorneys general, the U.S. Securities and Exchange Commission and the Federal Trade Commission in the past year can help SaaS companies manage these increasingly common forms of data breaches, say attorneys at Orrick.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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EDNY Ruling Charts 99 Problems In Rap Lyric Admissibility
A New York federal court’s recent ruling in U.S. v. Jordan powerfully captures courts’ increasing skepticism about the admissibility of rap lyrics as evidence in criminal trials, particularly at a time when artists face economic incentives to embrace fictional, hyperbolic narratives, say attorneys at Sher Tremonte.
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Series
Coaching High School Wrestling Makes Me A Better Lawyer
Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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Reimagining Law Firm Culture To Break The Cycle Of Burnout
While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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Series
Competing In Dressage Makes Me A Better Lawyer
My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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1869 Case May Pave Off-Ramp For Justices In Trump DQ Fight
In deciding whether former President Donald Trump is disqualified from Colorado's Republican primary ballots, the U.S. Supreme Court could rely on due process principles articulated in a Reconstruction-era case to avert a chaotic or undemocratic outcome, says Gordon Renneisen at Cornerstone Law Group.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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The Questions Around Prometheum's SEC-Compliant Strategy
While the rest of the crypto industry has been engaged in a long-running battle to escape the U.S. Securities and Exchange Commission's jurisdiction, a once-obscure startup called Prometheum has instead embraced the SEC's view to become the first crypto special-purpose broker-dealer, but it's unclear whether it can turn its favored status into a workable business, says Keith Blackman at Bracewell.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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How Merck Settlement Can Inform Cyberinsurance Approach
This month's settlement in Merck v. ACE spotlights how cyber exclusions have evolved since the significant decision in the case — allowing for insurance coverage despite the presence of a policy war exclusion — and where else corporate risk managers may look for coverage in case of a cyberattack, say attorneys at McGuireWoods.