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August 12, 2024
Celsius Sues Tether For Over $2B In Ch. 11 Clawbacks
The defunct cryptocurrency platform Celsius Network has sued the largest stablecoin provider, Tether, seeking to claw back more than $2.3 billion worth of bitcoin and accusing Tether of improperly reaping the benefits of the digital coins for itself as Celsius was spiraling towards bankruptcy.
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August 12, 2024
Norfolk Southern Says Cuts To Investors' Suit Aren't Enough
Norfolk Southern Corp. told a New York federal court on Friday that a magistrate judge's recommendations to trim an investor proposed class action over losses stemming from the 2023 East Palestine, Ohio, derailment didn't go far enough, and urged the court to dismiss the entire complaint.
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August 12, 2024
SEC, SolarWinds In Settlement Talks After Cyber Suit Trimmed
Software company SolarWinds Corp. is in talks to settle a U.S. Securities and Exchange Commission cybersecurity lawsuit after a Manhattan federal judge dismissed the majority of claims over a 2020 data breach, the parties said Monday.
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August 12, 2024
Construction Co. Says Tribe Can't Escape $1.9M Wage Suit
A New York construction company is fighting a bid by an entity created by the Mashpee Wampanoag Tribe to dismiss a $1.9 million wage dispute for work done on an $11.75 million Cape Cod, Massachusetts, housing project, arguing that sovereign immunity can't protect it from the litigation.
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August 12, 2024
Investors Sue Nuclear Co. Over 'Laughable' Regulatory Claims
Nano Nuclear Energy Inc. misled investors about its progress towards regulatory approval and commercialization of its energy products and that its higher-ups are independent contractors working as executives of other companies, according to a proposed class action filed in New York federal court.
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August 12, 2024
2nd Circ. Says Arbitration Ban Protects Sex Harassment Suit
The Second Circuit said Monday that because a financial services worker said she continued to experience harassment after a law went into effect curbing mandatory arbitration for workplace sex misconduct disputes, her case can't be kicked out of court.
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August 12, 2024
2nd Circ. Nixes 'Excessive' $5M Award For Housing Nonprofit
The Second Circuit on Monday overturned a $5 million award to a nonprofit that faced pushback from a Connecticut town while trying to open a group home for individuals with disabilities, finding that it was unconstitutionally excessive, but at the same time castigated the municipality's officials for "highly reprehensible" conduct.
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August 12, 2024
Roberta Kaplan Keeps Trump Case, But Ex-Firm Wants A Cut
Trailblazing litigator Roberta Kaplan will keep E. Jean Carroll as a client after leaving Hecker Fink LLP amid claims she fostered a hostile work environment at the firm she co-founded, but her former colleagues still want a cut of the $83 million verdict Kaplan recently won for Carroll in a defamation lawsuit against former President Donald Trump.
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August 12, 2024
Morgan Lewis Escapes DQ Over Dual Rep. In HSBC OT Case
A New York federal judge on Monday refused to disqualify Morgan Lewis & Bockius LLP counsel from representing a former HSBC branch manager and key witness in an overtime class action against the bank, which the attorneys also defend, ruling the supposed conflict of interest is speculative and could be corrected if needed with informed consent.
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August 12, 2024
Willkie Farr Sued Over $350K In Unpaid Legal Tech Bills
Willkie Farr & Gallagher LLP was sued in New York state court by a debt collection agency over an alleged unpaid balance of more than $350,000 in fees to legal technology company TransPerfect Legal Solutions.
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August 12, 2024
Casino Worker Says Unpaid OT Complaints Got Him Fired
A casino operator deducted lunch periods from a worker's paychecks despite him not taking those breaks and then fired him in retaliation for complaining about his missing wages and flagging possible fraud, a complaint filed in New York federal court said.
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August 12, 2024
Ex-BCLP Real Estate Partner Rejoins Arnold & Porter In NY
Arnold & Porter Kaye Scholer LLP said Monday that an attorney with deep expertise in commercial real estate deals has rejoined the firm in New York after a stint with Bryan Cave Leighton Paisner LLP.
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August 09, 2024
Real Estate Recap: Big 4 Market Views, Gas-Ban Backfire, AI
Catch up on this week's key developments by state from Law360 Real Estate Authority — including what the largest commercial real estate brokers expect from capital markets in the second half of the year, how municipalities are reacting to the Ninth Circuit striking down Berkeley, California's natural gas-hookup ban, and why Brookfield Corp. is betting big on AI.
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August 09, 2024
Takeda Should Face Certified Antitrust Classes, Judge Says
A New York federal judge on Friday recommended certifying two classes of direct purchasers and end payors in consolidated antitrust actions accusing Takeda Pharmaceuticals Co. of unlawfully inflating the price of its diabetes treatment Actos by delaying entry of generic alternatives.
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August 09, 2024
Ripple Claims Victory In SEC Suit But Paid A Price
Ripple Labs Inc. celebrated the end of its legal battle with the U.S. Securities and Exchange Commission as a "clear victory" that cut through the regulator's bid for $2 billion over the exchange's unregistered institutional sales of its XRP token, but experts told Law360 the $125 million fine and injunction Ripple faces is much more than a speeding ticket to end a costly four-year battle.
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August 09, 2024
SEC Settles With EV Fleet Co., 3 Execs For More Than $5M
Electric vehicle company Ideanomics and its former CEO Bruno Wu, a wealthy Chinese entrepreneur, have agreed along with other executives to pay a combined roughly $5.1 million to settle U.S. Securities and Exchange Commission claims of accounting and disclosure fraud, the agency said Friday.
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August 09, 2024
Gemini Seeks Quick 2nd Circ. Appeal In CFTC Fight
Gemini Trust Co. has asked a New York federal judge for permission to quickly appeal to the Second Circuit a June ruling denying the Winklevoss-led crypto exchange a win in the U.S. Commodity Futures Trading Commission's lawsuit alleging Gemini illegally downplayed known risks of its proposed bitcoin futures contract.
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August 09, 2024
Valeant's Legal Gripe A Total 'Nothingburger,' Justices Told
A lawyer who assembled a whistleblower lawsuit against a major pharmaceutical company using publicly available patent board filings says the larger legal question of whether he can do that is way too niche for the U.S. Supreme Court to bother thinking about.
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August 09, 2024
Trump Again Appeals Merchan's Gag Order To NY High Court
Former President Donald Trump is again seeking dismissal of a gag order in his criminal hush money case barring him from threatening court and district attorney staff, telling New York's highest court on Thursday that he disagreed with "each and every part" of a recent intermediate appellate court ruling that found threats remained imminent.
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August 09, 2024
Ex-Mozambique Finance Minister Convicted For $2B Scheme
Mozambique's former finance minister was convicted of wire fraud and money laundering conspiracy charges in connection with his role in the $2 billion "tuna bonds" scandal, prosecutors announced.
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August 09, 2024
Not Enough Data To Find Jury Racial Disparity, 2nd Circ. Says
The Second Circuit declined to find that the Southern District of New York's jury selection procedures cause underrepresentation of minorities, but welcomed "a future challenge with greater proof" against the district's voter registration-based system.
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August 09, 2024
New Yorker Sues Ice Cream Museum Over Sprinkle Pool Injury
New York City's Museum of Ice Cream is facing a suit from a man who alleges he broke his ankle when he jumped into the museum's "Sprinkle Pool" and is calling the attraction unsafe.
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August 09, 2024
Healthcare-Focused SPAC Voyager Nets $220M IPO
Shares of healthcare-focused Voyager Acquisition Corp. began trading publicly on Friday after the company priced its $220 million initial public offering.
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August 09, 2024
'Outrageous': Dems Grill JPMorgan Over Potential New Fees
Two Senate Banking Committee Democrats have ripped into JPMorgan Chase & Co. over an executive's recent warning that it may hike some costs for customers in response to pending fee rules from the Consumer Financial Protection Bureau, calling it an "outrageous" threat and demanding more details from the megabank.
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August 09, 2024
Judge Sides With NY Diocese In Axing 33 Abuse Claims
A New York federal judge has upheld the dismissal of 33 sexual abuse claims against Long Island's bankrupt Roman Catholic Diocese, finding there was insufficient evidence the diocese had supervisory control over the alleged abusers.
Expert Analysis
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Constitutional Protections For Cannabis Companies Are Hazy
Cannabis businesses are subject to federal enforcement and tax, but often without the benefit of constitutional protections — and the entanglement of state and federal law and conflicting judicial opinions are creating confusion in the space, says Amber Lengacher at Purple Circle.
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Opinion
A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue
The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.
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2nd Circ. ERISA Ruling May Help Fight Unfair Arb. Clauses
The Second Circuit recently held that a plaintiff seeking planwide relief under the Employee Retirement Income Security Act cannot be compelled to individual arbitration, a decision that opens the door to new applications of the effective vindication doctrine to defeat onerous and one-sided arbitration clauses, say Raphael Janove and Liana Vitale at Janove.
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Series
After Chevron: Various Paths For Labor And Employment Law
Labor and employment law leans heavily on federal agency guidance, so the U.S. Supreme Court’s decision to toss out Chevron deference will ripple through this area, with future workplace policies possibly taking shape through strategic litigation, informal guidance, state-level regulation and more, says Alexander MacDonald at Littler.
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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What NYC's Green Fast Track Means For Affordable Housing
New York City's Green Fast Track for Housing initiative, which went into effect last month, aims to speed up the environmental review process for modest residential developments and could potentially pave the way for similar initiatives in other cities, say Vivien Krieger and Rachel Scall at Cozen O'Connor.
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The Often Overlooked NY Foreclosure Notice Requirements
As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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Justices' Bribery Ruling: A Corrupt Act Isn't Necessarily Illegal
In its Snyder v. U.S. decision last week, the U.S. Supreme Court held that a bribery law does not criminalize gratuities, continuing a trend of narrowing federal anti-corruption laws and scrutinizing public corruption prosecutions that go beyond obvious quid pro quo schemes, say Carrie Cohen and Christine Wong at MoFo.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
In the month since the U.S. Supreme Court overturned the Chevron deference standard, this Expert Analysis series has featured attorneys discussing the potential impact across 26 different rulemaking and litigation areas.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Antitrust In Retail: The Meaning Of 'Accessible Luxury'
In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.
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Series
NY Banking Brief: All The Notable Legal Updates In Q2
The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.
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Perspectives
NY Chief Judge Spotlights Need To Strengthen Public Defense
In a recent concurrence in People v. Watkins, New York Chief Judge Rowan Wilson called attention to the necessity for greater investment in public defense services, highlighting not only the urgency of current crises, but the need to embrace a more ambitious vision of equal right to counsel, says Corey Stoughton at Selendy Gay.