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December 05, 2024
IP Forecast: PTAB To Hear Pfizer Fight Over COVID-19 Patents
Pfizer heads to an administrative board at the U.S. Patent and Trademark Office next week to argue Moderna should not have been issued patents covering "a basic idea" like using mRNA to fight the COVID-19 virus. Here's a spotlight on that case — plus all the other major intellectual property matters on deck in the coming week.
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December 05, 2024
Man Cops To $3.5M 'Cryptojacking' Scam Against Cloud Cos.
A Nebraska man admitted on Thursday to running a so-called "cryptojacking" scheme to defraud two cloud computing services out of $3.5 million of resources that were used to mine $1 million in cryptocurrency, according to the U.S. Department of Justice.
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December 05, 2024
SolarEdge's CEO, CFO Can't Escape Securities Lawsuit
A New York federal judge ruled Wednesday that a proposed securities class action accusing SolarEdge Technologies Inc. of misrepresenting the demand for its solar energy products in Europe will go on against two of the company's top executives, saying investors adequately pled the executives knowingly misrepresented distributors' inventory levels.
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December 05, 2024
'Texas Two-Step,' Exec Bonus Bankruptcy Bills Reintroduced
Lawmakers in the U.S. Senate this week renewed efforts to pass two bankruptcy bills that would bolster rights for employees and crack down on the controversial use of so-called Texas two-step bankruptcies.
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December 05, 2024
Judge Recommends Axing Some Claims In X Severance Suit
A Delaware federal judge on Thursday recommended pruning of a 14-count suit filed by six former Twitter employees accusing the company now known as X and Elon Musk of contract breaches and other claims in connection with Musk's takeover of the social media giant in 2022.
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December 06, 2024
FINRA Fines Firm $900K Over SPAC Underwriting Fee Issues
The Financial Industry Regulatory Authority has fined New York-based LifeSci Capital LLC nearly $1 million over claims that it received and failed to disclose unfair and unreasonable fees for an initial public offering it underwrote.
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December 05, 2024
Chinese Bank Faces New Suit Alleging Reinsurance Fraud
Another group of insurers has accused one of China's largest banks of participating in a "multi-billion-dollar fraud" in the reinsurance market, telling a New York federal court Thursday that the bank, including its New York branch, has refused to honor over $890 million worth of letters of credit.
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December 05, 2024
Sports Collectibles Exec Gets 51 Months For Investment Fraud
The owner of a Las Vegas sports memorabilia company was sentenced to four years and three months in prison Wednesday after pleading guilty to lying to investors as part of a fraud scheme that prosecutors said funded a lavish lifestyle.
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December 05, 2024
FTX Clawback Deal With Ex-Alameda Co-CEO Gets Court Nod
A Delaware bankruptcy judge has approved a deal to settle clawback claims by FTX against former Alameda Research Ltd. executive John Samuel Trabucco, who agreed to hand over two San Francisco apartments purchased in 2021 for $8.7 million and a 53-foot yacht bought in 2022 for $2.5 million.
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December 05, 2024
McKinsey Unit To Pay $123M Over South Africa Bribe Scheme
The African unit of consulting giant McKinsey & Co. will pay about $123 million to resolve a U.S. Department of Justice investigation into an alleged scheme to bribe South African government officials for contracts with state-owned companies.
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December 05, 2024
Barclays GC To Join A&O Shearman Cyber Team
A&O Shearman has tapped the current general counsel for Barclays Execution Services to co-head its global cybersecurity team, the firm announced Thursday, with the lawyer set to make the jump early next year.
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December 05, 2024
Reed Smith Hires Linklaters Finance Attys In NY
Two former Linklaters LLP attorneys have jumped to Reed Smith LLP's financial industry group, bringing their backgrounds in structured finance matters to the New York office, the firm announced Wednesday.
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December 05, 2024
Combs Demands Court Inquiry Into Copied Jail Notes
Sean "Diddy" Combs urged a Manhattan federal judge to hold a special hearing and consider dismissing his sex-trafficking indictment after staff at the Metropolitan Detention Center photographed his allegedly privileged, handwritten notes during a sweep of the prison and sent them to prosecutors, who he says used the information to argue against bail.
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December 05, 2024
Medical Pot Group Sues NY Over New $20M Licensing Fee
The New York Medical Cannabis Industry Association Inc. is suing the state's cannabis regulators, saying a new $20 million fee to convert operators' licenses from medical to adult use is an unconstitutional and punitive tax aimed at keeping them out of the adult-use market.
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December 04, 2024
Withers IP Partners Hop To Sullivan & Worcester
Sullivan & Worcester LLP has said the Boston firm picked up a team of five intellectual property lawyers, including two partners, from Withers who have expertise in filing patents and working on deals for biotech startups.
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December 04, 2024
SEC Scores $13M Default Judgment In Data Co. Insider Action
China-based cloud analytics company Gridsum Inc. and its CEO have been ordered to give the U.S. Securities and Exchange Commission nearly $13 million after failing to respond to the regulator's claims that they funneled investor money out of the company to the relatives of executives.
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December 04, 2024
Live Nation Shields Legal Strategy Emails From DOJ Scrutiny
A Manhattan federal judge rejected the U.S. Department of Justice's bid to see emails between Live Nation Entertainment Inc. lawyers and counsel for arena operator Oak View Group, holding Wednesday that these communications discussed a joint legal strategy for the government's antitrust investigation.
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December 04, 2024
Senate Confirms Judges To NY's Central, Northern Districts
The Senate confirmed two judges on Wednesday for the Northern District of New York, one of whom is a former member of the U.S. House of Representatives.
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December 04, 2024
PCAOB Boots Audit Firm, Partners Over Altered Documents
The Public Company Accounting Oversight Board has imposed $465,000 in total fines against Raines & Fischer LLP and three of its partners, permanently revoking the firm's registration and barring the partners after they allegedly altered audit documents prior to an inspection of the firm.
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December 04, 2024
Guo Trustee Balks At Boies Schiller's Clawback Transfer Bid
The Chapter 11 trustee overseeing Chinese exile Miles Guo's bankruptcy in Connecticut says Boies Schiller Flexner LLP should not be allowed to move a nearly $654,000 clawback action from bankruptcy court to district court, suggesting a bankruptcy judge is better poised to consider his asset recovery theories.
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December 04, 2024
NY Judge Says ICE Must Open Files Over 'No Release' Policy
A New York federal judge has ordered the U.S. government to produce files on eight noncitizens that the New York Civil Liberties Union says show the government is breaking its promise to stop preventing people suspected of civil immigration offenses from posting bail.
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December 04, 2024
Building Contractor Agrees To End No-Hire Pacts
Guardian Service Industries Inc. has agreed to stop enforcing no-hire agreements in its contracts that prevent building owners and managers from hiring the service contractor's employees after pressure from the Federal Trade Commission and state enforcers.
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December 04, 2024
Rep. Raskin's Judiciary Hopes Rise After Nadler Drops Out
Rep. Jamie Raskin of Maryland is one step closer to becoming the top Democrat on the House Judiciary Committee, after New York Rep. Jerry Nadler dropped his bid for the job on Wednesday.
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December 04, 2024
Chase Will Settle Calif. Atty's Mortgage Rate-Lock Suit
JPMorgan Chase Bank NA has reached a tentative, individual settlement with an attorney suing it for allegedly gouging him and other borrowers with sham mortgage rate-lock deals, heading off a potential class action.
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December 04, 2024
Columbia Univ., Publisher Face Suit Over Reading Program
Columbia University Teachers College and the creators and publishers of two widely used reading instructional programs have ignored concerns about their effectiveness for years, leaving many children functionally illiterate, a proposed class action filed Wednesday in Massachusetts state court alleges.
Expert Analysis
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How To Avoid Risking Arbitration Award Confidentiality In NY
Though a Second Circuit decision last year seemed to create a confidentiality safe harbor for arbitration awards that had no ongoing compliance issues, a recent New York federal court ruling offers further guidance on the meaning of "ongoing compliance issues," says Matthew Iverson at Nelson Mullins.
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How Project 2025 Could Upend Federal ESG Policies
If implemented, Project 2025, the Heritage Foundation's policy playbook for a Republican presidential administration, would likely seek to deploy antitrust law to target ESG initiatives, limit pension fund managers' focus to pecuniary factors and spell doom for the U.S. Securities and Exchange Commission's climate rule, say attorneys at Mintz.
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Smith's New Trump Indictment Is Case Study In Superseding
Special counsel Jack Smith’s recently revised Jan. 6 charges against former President Donald Trump provide lessons for prosecutors on how to effectively draft superseding indictments in order to buttress or streamline their case, as necessary, says Jessica Roth at Cardozo Law School.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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Colorful Lessons From NYC's Emotional Support Parrot Suit
A recently settled lawsuit in New York federal court concerning housing discrimination claims from a resident who had emotional support parrots highlights the importance of housing providers treating accomodation questions seriously even if they may appear unusual or questionable, say attorneys at Seyfarth.
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With Esmark Case, SEC Returns Focus To Tender Offer Rules
The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.
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2nd Circ. American Girl Ruling Alters Test Purchase Norms
The Second Circuit's recent ruling in American Girl v. Zembrka overturns years of precedent that required completed test purchase shipments to establish jurisdiction in infringement cases, but litigators shouldn't abandon the strategy entirely, say Robert Wasnofski and Sara Gates at Dentons.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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Cos. Should Focus On State AI Laws Despite New DOL Site
Because a new U.S. Department of Labor-sponsored website about the disability discrimination risks of AI hiring tools mostly echoes old guidance, employers should focus on complying with the state and local AI workplace laws springing up where Congress and federal regulators have yet to act, say attorneys at Littler.
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Review Shipping Terms In Light Of These 3 Global Challenges
Given tensions in the Middle East, labor unrest at U.S. ports and the ongoing consequences of climate change, parties involved in maritime shipping must understand the relevant contract provisions and laws that may be implicated during supply chain disruptions in order to mitigate risks, say attorneys at Crowell & Moring.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
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2nd Circ. Provides NY Pathway For Fighting Foreign Infringers
A recent decision from the U.S. Court of Appeals for the Second Circuit provides a road map for expeditiously obtaining personal jurisdiction in New York against foreign trademark infringers based on a single purchase of counterfeit goods, meaning the Second Circuit could now be the preferred venue for combating foreign infringement, says Jeffrey Ratinoff at Spencer Fane.
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Sublimit And Policy Interpretation Lessons From Amtrak Case
The recently settled dispute between Amtrak and its insurers over sublimit coverage illustrates that parties with unclear manuscript policies may wish to avoid litigation in favor of settlement — as the New York federal court declined to decide the case by applying prior term interpretations, says Laura Maletta at Chartwell Law.