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December 13, 2024
US Trustee Wants Spirit To Explain Counsel Bid For Ch. 11
The U.S. Trustee's Office is opposing Spirit Airlines' bid to hire Davis Polk & Wardwell LLP as primary counsel in its Chapter 11 and Morris Nichols Arsht & Tunnell LLP as its conflicts counsel, telling a New York bankruptcy court that the carrier needs to specify what potential conflicts of interest exist.
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December 13, 2024
Ex-Weil Restructuring Atty Returns As Co-Chair
Weil Gotshal & Manges LLP announced Friday the return of a longtime partner who departed the firm last year to lead the debtor-side restructuring practice in the U.S. for Simpson Thacher & Bartlett LLP.
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December 13, 2024
Menendez, 2 Co-Defendants Lose Bids For New Bribery Trial
A Manhattan federal judge on Friday rejected bids by former Sen. Bob Menendez and two co-defendants for a new trial, ruling there is no manifest injustice after the ex-senator argued the government failed to offer any evidence of how he used his office's power to benefit any of the alleged bribe givers.
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December 13, 2024
Off The Bench: PE Buys In On NFL, WWE Abuse Suit Back On
In this week's Off The Bench, two teams usher in a new era for the NFL by bringing in private equity investors, a suit accusing the WWE and Vince McMahon of sexual abuse and trafficking picks back up while a federal investigation continues, and a private equity giant and NHL owner passes away.
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December 13, 2024
Taxation With Representation: Kirkland, Davis Polk, Wachtell
In this week's Taxation With Representation, Google and TPG Rise Climate partner with Intersect Power, Gen Digital Inc. acquires MoneyLion Inc., Patient Square Capital acquires Patterson Companies Inc., and the Buffalo Bills and Miami Dolphins sell minority ownership shares to private equity firms.
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December 13, 2024
Trump Rips DA's 'Dark Dream' To Legally Treat Him As Dead
Donald Trump's attorneys Friday slammed a proposal by the Manhattan district attorney to preserve the president-elect's hush money conviction by treating him like a defendant who dies after a verdict, pushing the judge to dismiss the case altogether.
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December 13, 2024
Kirkland, Wachtell Guiding Warner Bros.' Strategic Split
Kirkland & Ellis LLP and Wachtell Lipton Rosen & Katz are guiding Warner Bros. Discovery Inc. on a new plan to separate its cable TV businesses from its streaming and studio operations.
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December 13, 2024
4 Firms Rep On Rent-A-Center Owner's $460M Brigit Deal
Rent-A-Center owner Upbound Group Inc. has agreed to acquire financial technology company Brigit for up to $460 million, with Sullivan & Cromwell LLP and Mayer Brown LLP guiding Upbound and Cooley LLP and Morgan Lewis & Bockius LLP representing Brigit.
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December 12, 2024
Diddy Hit With 3 New Sexual Assault Suits In NY
Three men Thursday filed new suits against Sean "Diddy" Combs, each claiming that the hip-hop mogul got them drunk, drugged them and raped them in recent years, according to complaints filed in New York County Supreme Court.
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December 12, 2024
SEC Fines Investment Co. For Adviser's Cherry-Picking Scheme
The U.S. Securities and Exchange Commission announced Thursday that it fined SeaCrest Wealth Management $375,000 for allegedly failing to implement policies and procedures that would have possibly prevented the cherry-picking scheme of a former adviser, who is separately being sued by the agency.
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December 12, 2024
Ch. 7 Trustee Must Explain $200M Holdback Bid, Court Told
The owner of two bankrupt real estate companies has asked a Connecticut state court for permission to question the Chapter 7 trustee who wants a $200 million placeholder in connection with a shareholder's derivative claims, arguing the trustee must detail his allegations of the owner diverting millions to other business interests.
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December 12, 2024
NY Judge Bars Pot Regulator From Processing Retail Apps
A New York state judge Thursday ordered cannabis regulators to stop processing applications submitted by would-be marijuana sellers who did not secure a location for their proposed pot shop before November of last year, leaving hundreds of prospective retailers in limbo.
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December 12, 2024
USAA Inks $3.25M Data Breach Deal With 22K Customers
More than 22,000 USAA customers have asked a New York federal judge to grant preliminary approval to a $3.2 million settlement to resolve a proposed class action alleging the company's security failures in its online insurance quote system allowed cybercriminals to open fraudulent memberships.
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December 12, 2024
TD Bank Sued Over AML Controls After Ex-Employee's Arrest
Toronto-Dominion Bank and its top brass concealed and downplayed issues with the bank's anti-money laundering controls, according to a class action filed one day after a former employee was arrested and charged with assisting in a money laundering scheme that sent millions of dollars in narcotics proceeds from the U.S. to Colombia.
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December 12, 2024
Photobucket Accused Of Training AI On Photos Sans Consent
A proposed class action filed in Colorado federal court Wednesday alleges that image hosting website Photobucket unlawfully used billions of photographs uploaded by users for biometric data and training artificial intelligence.
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December 12, 2024
2nd Circ. Won't Rethink Dual Citizen's FBAR Penalties
The Second Circuit will not review its September decision finding that a dual U.S.-French citizen is liable for tax penalties for failing to file reports of foreign bank and financial accounts, the court said Thursday.
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December 12, 2024
2 Deny Joining Would-Be Trump Assassin To Target Journalist
Two New York City men on Thursday denied participating in a plot to kill a noted journalist and Iran critic, pleading not guilty to murder-for-hire charges that claim they worked for a foreign agent who also is tasked with targeting Donald Trump.
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December 12, 2024
Trump Vows Immediate Jan. 6 Pardons As DOJ Doubles Down
President-elect Donald J. Trump said he plans to issue swift pardons for people accused or convicted of rioting at the U.S. Capitol on Jan. 6, 2021, in an effort to keep him in power, as prosecutors said in one case that accepting such a pardon would amount to an admission of guilt.
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December 12, 2024
NY Courts Defy Watchdog, Won't Release Judicial Ethics Data
Counsel for the New York State Unified Court System told the state transparency watchdog Wednesday it has no obligation to release judges' and court officials' financial disclosure data under public records law.
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December 12, 2024
Senate Judiciary Committee Sends Last Nominees To Floor
The Senate Judiciary Committee sent the names of two judicial nominees for California to the full Senate for confirmation on Thursday along party-line votes.
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December 12, 2024
2nd Circ. Upends Arbitration Order In Bakery Drivers' Suit
The Second Circuit voided its prior ruling that a bakery's delivery drivers must arbitrate claims alleging they were misclassified as independent contractors, saying Thursday the question of whether they are exempt from arbitration is up in the air after the U.S. Supreme Court weighed in on the suit.
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December 12, 2024
Holland & Knight's Latest Corporate Atty Joins From WilmerHale
Holland & Knight LLP announced the addition of a former WilmerHale attorney to its New York office Wednesday, touting his work for clients in sectors such as technology, life sciences, municipal services, financial services, specialty manufacturing and energy.
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December 12, 2024
Woody Allen Axed Private Chef Over Military Duties, Suit Says
Filmmaker Woody Allen fired a personal chef because he repeatedly complained he wasn't being properly paid and had to take time off to participate in military exercises as a member of the U.S. Army Reserve, according to a lawsuit filed in New York federal court.
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December 12, 2024
JUDGES Act Passes House But Biden Veto Looms
The House voted 236-173 on Thursday to pass a bill to add more judgeships, which tees it up for a likely veto by the president, as many Democrats have soured on the measure after Donald Trump's victory at the polls.
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December 11, 2024
MDL Judge Rejects Meta's Claim Discovery Is Burdensome
A California federal magistrate judge overseeing discovery in multidistrict litigation over social-media platforms' allegedly addictive designs on Wednesday rejected Meta Platforms' arguments additional discovery sought by personal-injury plaintiffs is overly burdensome, noting that Meta's discovery production pales in comparison to the millions of documents that Meta has demanded from plaintiff states.
Expert Analysis
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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3 Policyholder Lessons From NY Bad Faith Ruling
A New York appellate court's recent decision finding that Rockefeller University alleged viable bad faith claims against its insurers reinforces the principle that insurers may not elevate their own economic interests over those of their insureds, say attorneys at Lowenstein Sandler.
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Takeaways From State Votes On Abortion In The 2024 Election
Attorneys at Epstein Becker discuss how 10 states voted on ballot initiatives to either protect or restrict access to abortion in the 2024 general election, and analyze overarching trends.
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Notable Q3 Updates In Insurance Class Actions
Total loss valuation cases and labor depreciation cases dominated the past quarter of insurance class actions, with courts continuing to reject challenges to condition adjustments in the former, and a pro-insured trend persisting in the latter, say attorneys at BakerHostetler.
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2nd Circ. Halkbank Ruling Shifts Foreign Immunity Landscape
Following the Second Circuit’s recent common law immunity ruling in U.S. v. Halkbank, foreign state-owned banks, wealth funds and other entities now must seriously consider the risk of criminal liability for commercial activity that violates U.S. laws, say attorneys at Debevoise.
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What Trump's 2nd Presidency Could Mean For Crypto Sector
Trump's second term will bring a fundamental shift from the Biden administration's approach to crypto-asset regulation and banking supervision, with the most significant changes likely taking effect in the first two quarters of 2025 and broader policy shifts emerging over the next year, say attorneys at Cahill.
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Putting NYDFS AI Cybersecurity Guidance Into Practice
New guidance from the New York Department of Financial Services explains how financial institutions should assess and mitigate cybersecurity risks associated with artificial intelligence, focusing on four main threats and highlighting how varying environments require specific mitigation measures, say attorneys at Saul Ewing.
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Copyright Questions Surround AI Music Platform Suits
If recent lawsuits filed by the Recording Industry Association of America against two artificial intelligence music platform developers — who maintain that use of copyrighted works to train AI models constitutes fair use — go to trial, this novel issue will make for potentially precedent-setting decisions, says intellectual property lawyer Eric Lane.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Opinion
In Visa Case, DOJ Continues To Misapply The Sherman Act
The recent U.S. Department of Justice debit market monopolization case against Visa fuels concerns that a misguided Biden administration DOJ is inappropriately expanding its interpretation of the Sherman Antitrust Act beyond the demonstrable economic effects that business conduct has on consumers, says Shubha Ghosh at Syracuse University.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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High Court 'Violent Crimes' Case Tangled Up In Hypotheticals
In Delligatti v. U.S., the U.S. Supreme Court will hear arguments next week on whether attempted murder constitutes a crime of violence, and because the court’s interpretive approach thus far has relied on hairsplitting legal hypotheticals with absurd results, Congress should repeal the underlying statute, say attorneys at Patterson Belknap.
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How Property Insurance Coverage Shrank After The Pandemic
Insurers litigating property claims are leveraging rulings that provided relief in the COVID-19 context to reverse the former majority rule on physical loss or damage in all contexts, say attorneys at Reed Smith.
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Considering Chevron's End Through A State Tax Lens
States took the lead in encouraging Chevron's demise, turning away from Chevron-type deference in state tax administration ahead of the U.S. Supreme Court’s Loper Bright decision, a trend likely to accelerate as courts take a more active role in interpreting tax laws, say attorneys at Eversheds Sutherland.
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NYC Hotel Licensing Law's Costs May Outweigh Its Benefits
A hotel licensing bill recently approved by New York's City Council could lead to the loss of many nonunionized hotels that cannot afford to comply, says Stuart Saft at Holland & Knight.