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August 26, 2024
Bronfman Scraps Paramount Bid, Paving Way For Skydance
Media executive Edgar Bronfman Jr. has dropped his reported $6 billion bid to buy Paramount Global just days after the offer was disclosed, opening a path for Paramount to close its merger agreement with Skydance Media.
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August 26, 2024
SEC Inks $946K Settlement In Unregistered Broker Case
A trust and its co-owners have agreed to pay the U.S. Securities and Exchange Commission civil penalties totaling $946,000 to resolve allegations they operated as unregistered broker-dealers when helping to facilitate more than $1.2 billion in securities transactions by penny stock issuers.
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August 26, 2024
Sound Point To Pay $1.8M Fine Over Insider Trading Policies
The U.S. Securities and Exchange Commission announced Monday that private fund adviser Sound Point Capital Management LP will pay $1.8 million to settle charges that it failed to prevent the misuse of nonpublic information in certain collateralized loan trades.
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August 26, 2024
Banks' $20M Platinum Traders Antitrust Deal Gets Initial OK
A New York federal judge preliminarily approved Saturday a $20 million deal to resolve a nearly decade-old putative class action alleging Goldman Sachs, German industrial company BASF and two other banks fixed platinum and palladium prices.
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August 26, 2024
Ramones Heir Says Widow Is Infringing Group's TMs
The brother of late punk rocker Joey Ramone took his widow to New York federal court for allegedly infringing several of the band's trademarks as part of what the suit says is an effort to boost her own celebrity image by "riding on the coattails of the Ramones."
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August 26, 2024
Semiconductor Co. Overstated Recovery, Investors Say
Semiconductor manufacturer STMicroelectronics did not have the visibility it claimed to have to predict future growth in its core segments, leading it to make several false representations to shareholders, according to two investor suits filed in New York federal court.
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August 26, 2024
Shkreli Must Give Up Copies Of Unique Wu-Tang Clan Album
Martin Shkreli must hand over any copies he made of a one-of-a-kind Wu-Tang Clan album while a challenge from the crypto project that holds the sole physical copy plays out, a New York federal judge ordered Monday.
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August 26, 2024
Citizenship Error Can't Bar Labor Certification, Board Says
A marketing software company that misidentified a prospective Turkish employee as American on its labor certification application can refile the request, after a U.S. Department of Labor appeals panel found that DOL applications cannot be denied based on immigration status.
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August 26, 2024
Connecticut And NY AGs Reach Terms For Hospital Merger
Two major hospital systems in New York and Connecticut have reached an agreement with their states' attorneys general to resolve an antitrust investigation spurred by the planned merger of Northwell Health and Nuvance Health, bringing the deal first announced in February closer to fruition.
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August 26, 2024
Paul Weiss Adds Cleary M&A Partner In New York
An experienced mergers and acquisitions attorney has jumped from Cleary Gottlieb Steen & Hamilton LLP to Paul Weiss Rifkind Wharton & Garrison LLP's New York office, Paul Weiss announced Monday.
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August 26, 2024
CLE Co. Accused Of Sharing Subscriber Data With Facebook
A proposed class of legal professionals has hit Lawline with a putative class action in New York federal court, accusing the continuing legal education company of violating the Video Privacy Protection Act by sharing subscribers' information, including services and video viewing history, with third parties such as Facebook for targeted advertising purposes.
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August 26, 2024
Cadwalader Fears Unsealing Financial Info May Harm Firm
Cadwalader Wickersham & Taft LLP has argued in North Carolina Business Court that unsealing financial details related to a November 2022 data breach and its insurance policy with a Lloyd's of London syndicate would put the firm at further risk from competitors and bad actors.
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August 26, 2024
Fox Rothschild Lands Condo Team From Armstrong Teasdale
A team of 10 real estate attorneys from Armstrong Teasdale LLP have jumped to Fox Rothschild LLP, where they'll form the core of a new practice, the firm said Monday.
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August 26, 2024
Shareholder Attys Get $11M For Taro Price-Fixing Deal
Bernstein Liebhard LLP will receive approximately $11 million for securing a $36 million settlement in a shareholder suit against Taro Pharmaceutical Industries, which claims Taro lied about alleged price-fixing that led to a U.S. Department of Justice antitrust investigation and subsequent stock price drop.
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August 26, 2024
JPMorgan Cash Sweep 'Shortchanged' Customers, Suit Says
JPMorgan Chase has been hit with a proposed class action in New York federal court alleging its securities branch "shortchanged" customers by automatically "sweeping" their uninvested cash balances into deposit accounts at its affiliate, Chase Bank.
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August 26, 2024
NY Nursing Homes Can't Duck AG's $83M Fraud Suit
A New York judge shot down a bid by four nursing homes and their operators to dismiss the state attorney general's claims that they defrauded Medicare and Medicaid and neglected residents.
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August 26, 2024
Patterson Belknap Atty Chosen As SDNY Magistrate Judge
The Southern District of New York announced that a longtime financial services litigator at Patterson Belknap Webb & Tyler LLP was selected to serve as a magistrate judge following the retirement of predecessor James L. Cott.
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August 23, 2024
NY Can't Sue Groups Over Abortion 'Reversal' Ads, For Now
A New York federal judge temporarily blocked the state's attorney general from taking enforcement action against certain pregnancy counseling centers for promoting a method of "reversing" medication abortions that medical associations say is not backed by science, saying the groups' conduct is likely protected by the First Amendment.
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August 23, 2024
Abbott Judge Suggests $54M Judgment In Test Strip TM Case
A New York federal magistrate judge has recommended that default judgments totaling more than $54 million be entered against 85 companies and individuals who didn't respond to Abbott Laboratories' nearly decade-old trademark suit over gray-market diabetes test strips, according to a report and recommendation filed Thursday.
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August 23, 2024
Real Estate Recap: Key Cases, Proptech Pain, RealPage Suit
Catch up on the past week's key developments by state from Law360 Real Estate Authority — including the residential real estate cases to watch in 2024's second half, proptech's recent funding lapse and long-term potential, and a new lawsuit from the U.S. Department of Justice against property management software company RealPage.
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August 23, 2024
NBA Shreds Warner Bros.' Suit Over Amazon Streaming Deal
The NBA looked to quickly snuff out a lawsuit from Warner Bros. Discovery over the league's broadcasting deal with Amazon on Friday, telling a New York state judge that the media conglomerate failed to match the streamer's offer and didn't even have the right to do so.
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August 23, 2024
McKinsey Opioid Suits Sent Back To NY, Illinois State Courts
A California federal judge has remanded, to their respective state courts, cases brought by dozens of New York municipalities and two Illinois counties against McKinsey & Co. over its alleged role in the opioid crisis, saying the consulting firm's "tortured interpretations of state law" don't give the Golden State jurisdiction.
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August 23, 2024
Crypto Founder Says SEC 'Twists' Claims To Make Suit Stick
The cryptocurrency founder accused by the U.S. Securities and Exchange Commission of misappropriating $12 million in customer assets from an alleged billion dollars in unregistered crypto securities offerings told a Brooklyn federal judge that the regulator "twists its timelines" to tie his conduct to the U.S.
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August 23, 2024
Newark Seeks To Toss Claims In Suit Over Deadly Port Fire
The Garden State's largest city is asking a New Jersey federal court to toss negligence cross-claims against it in complex litigation surrounding a deadly ship fire at the Port of Newark in July 2023.
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August 23, 2024
NY Lawmakers Hit With ADA Suit Over Contentious Mask Ban
A Long Island, New York, county that recently made it illegal for certain individuals to wear face masks in public has been hit with a lawsuit by a legal advocacy group alleging the ban discriminates against people with disabilities.
Expert Analysis
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Considering Noncompete Strategies After Blocked FTC Ban
A Texas district court's recent decision in Ryan v. Federal Trade Commission to set aside the new FTC rule banning noncompetes does away with some immediate compliance obligations, but employers should still review strategies, attend to changes to state laws and monitor ongoing challenges, say attorneys at Baker McKenzie.
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Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling
The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Class Actions At The Circuit Courts: August Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers certification cases touching on classwide evidence of injury from debt collection practices, defining coupon settlements under the Class Action Fairness Act, proper approaches for evaluating attorney fee awards in class action settlements, and more.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Notable Q2 Updates In Insurance Class Actions
Mark Johnson and Mathew Drocton at BakerHostetler discuss the muted nature of the property and casualty insurance class action space in the second quarter of the year, with no large waves made in labor depreciation and total-loss vehicle class actions, but a new offensive theory emerging for insurance companies.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.
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Chapter 11 Ruling Signals Emphasis On Lockup Provisions
A New York bankruptcy court's recent ruling in GOL Linhas Aéreas Inteligentes’ Chapter 11 case provides creditors with a strong basis for resisting requests to lock up or otherwise limit their voting rights, say Dania Slim and Andrew Alfano at Pillsbury.
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Lessons From Recent SEC Cyber Enforcement Actions
The recent guidance by the SEC's Division of Corporation Finance is helpful to any company facing a cybersecurity threat, but just as instructive are the warnings raised by the SEC's recent enforcement actions against SolarWinds, R.R. Donnelley and Intercontinental Exchange, say attorneys at O'Melveny.
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9th Circ. Ruling Flags Work Harassment Risks Of Social Media
The recent Ninth Circuit ruling in Okonowsky v. Garland, holding an employer could be liable for a co-worker's harassing social media posts, highlights new challenges in technology-centered and remote workplaces, and underscores an employer's obligation to prevent hostile environments wherever their employees clock in, say Jennifer Lada and Phillip Schreiber at Holland & Knight.
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Trump's Best Hush Money Appeal Options Still Likely To Fail
The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.