Try our Advanced Search for more refined results
New York
-
September 25, 2024
2nd Circ. Eyes New Trial In Yale Retirement Fee Fight
The Second Circuit appeared inclined Wednesday to revive a class action against Yale University from employees alleging their $5.5 billion retirement plan was mismanaged, as all three judges on the panel pointed out possible issues with jury instructions before a post-trial verdict in Yale's favor in 2023.
-
September 25, 2024
NYSE Cancels Proposal To Extend SPAC Merger Deadlines
The New York Stock Exchange has pulled a proposal that would have provided special purpose acquisition companies with more time to complete mergers while remaining listed, several months after it sought regulatory approval for the extension.
-
September 25, 2024
Ex-NY Congressman Argues He Can Be A Fair Federal Judge
President Joe Biden's nominee for the Northern District of New York told lawmakers on Wednesday that his previous stint as a member of the U.S. House of Representatives won't impact his role as an objective federal judge.
-
September 25, 2024
Bar Works Crook Gets 7 Years For Role In $57M Global Fraud
A Manhattan federal judge hit an English real estate marketer with a seven-year prison sentence on Wednesday for joining what prosecutors call a global Ponzi scheme that tricked investors into pouring $57 million into the bogus workspace share venture Bar Works.
-
September 25, 2024
Watchdog Pans Feds For Sole-Sourcing $5.6M Pavement Deal
The U.S. General Services Administration's internal watchdog faulted the agency for using a preexisting contract to obtain $5.6 million worth of pavement services at border stations along the northern border, saying the work should have been put out for bidding.
-
September 24, 2024
Athlete Investment Co. Gets Claims Nipped In $1M Fraud Suit
A New York federal judge has trimmed a suit alleging that an athlete investment company that aimed to "tokenize" and sell shares of professional athletes was involved in a $1 million fraud and lied about its business plan, saying the plaintiff is conflicted from bringing certain derivative claims.
-
September 24, 2024
Fox Exec Must Show Cell Data In Smartmatic Defamation Suit
A Florida state court judge has ordered a Fox News board member to turn over cellphone data in connection to a New York defamation lawsuit over unfounded reports that Smartmatic USA Corp.'s voting systems helped rig the 2020 election, finding the phone may contain relevant information to the case.
-
September 24, 2024
Philips Must Face Investor Suit Over FDA Compliance Issues
Health technology company Koninklijke Philips and its former CEO cannot escape a suit accusing them of misleading investors about the safety and compliance of its subsidiary's sleep and respiratory care products, which were recalled in 2021, but its chief financial officer and a former CEO of a Philips subsidiary were allowed to exit the case for good.
-
September 24, 2024
Appeals Court Finds LNG Project Claims Barred By Arbitration
An arbitration between a Kinder Morgan affiliate and a U.S. energy company concerning an abandoned gas project foreclosed a later breach of contract case from the U.S. company's Italian parent, a New York appeals court ruled Tuesday.
-
September 24, 2024
Feds Say BitMEX Should Owe $428M For Flouting AML Rules
Federal prosecutors urged a Manhattan federal judge to impose a $428 million penalty for offshore crypto derivatives exchange BitMEX after the firm admitted to lax anti-money laundering procedures, arguing the more than $100 million the firm and founders have already paid to regulators is not enough to deter other crypto firms from Bank Secrecy Act violations.
-
September 24, 2024
Ex-Foot Locker Exec To Pay $236K For Insider Trading
A laid-off Foot Locker executive agreed to pay nearly $236,000 to resolve U.S. Securities and Exchange Commission claims that he engaged in insider trading during and after his time with the sportswear company, the agency announced Tuesday.
-
September 24, 2024
NJ Apartment Owner, Operator Fight DACA Bias Suit
An apartment complex's owner and its operator have urged a New Jersey federal court to toss a Guatemalan immigrant's claims that her housing application was denied due to her Deferred Action for Childhood Arrivals status, saying she failed to provide proof of legal residence.
-
September 24, 2024
Combs Accused Of Filming Woman's Rape In New Suit
Hip-hop mogul Sean "Diddy" Combs was hit with a civil suit in New York federal court Tuesday alleging he and his former head of security raped a woman in 2001, recorded the assault and later disseminated the video.
-
September 24, 2024
Revlon Talc Claimants Can Appeal Directly To 2nd Circ.
A New York bankruptcy judge has found the Second Circuit can review his decision to reject 42 asbestos-tainted talc exposure claims against Revlon as having come too late because the claimants' appeal presents questions new and significant enough to justify skipping the district court.
-
September 24, 2024
NYC Condo Building's Ch. 11 Plan Sent Back For Revisions
A New York bankruptcy judge asked the owner of a Manhattan condominium complex to make changes to its Chapter 11 plan after raising several concerns with details in the planned restructuring that would hand unsold residential units over to its main lender.
-
September 24, 2024
4th Circ. Poised To Uphold $1M Sanction For Court 'Attack'
The Fourth Circuit on Tuesday appeared ready to uphold a roughly $1 million sanction against New York plaintiffs attorney Paul Napoli for his purportedly frivolous filings in a battle with another firm over asbestos litigation client referrals, with one judge accusing Napoli of making a "collateral attack" on a federal court's authority.
-
September 24, 2024
A Lawyer Promised Clients Fast Action. Then He 'Disappeared'
Dozens of ex-clients of a Florida lawyer have accused him of orchestrating a racketeering scheme in which clients were duped into paying nonrefundable retainer fees for legal services that were never delivered, allegedly causing a couple to lose their home while others lost custody of their children.
-
September 24, 2024
Top Aviation Atty Departs Withers, Lands At Sterlington
Sterlington PLLC said Sunday that it has hired a former Withers partner who is "widely regarded as the top private aviation attorney globally serving ultra high net worth individuals" to serve as the firm's international vice chair, splitting his time between Asia, the Middle East and the U.S.
-
September 24, 2024
Star Witness Against Bankman-Fried Gets 2 Years In FTX Case
A Manhattan federal judge sentenced former cryptocurrency executive Caroline Ellison to two years in prison Tuesday, crediting her decision to testify against FTX founder Sam Bankman-Fried but saying the $11.2 billion fraud was too big to warrant a "get out of jail free card."
-
September 24, 2024
NY Atty Hit With $26M Malpractice Verdict For Exploiting Elder
A New York attorney will have to pay $26.2 million in damages to an ailing, elderly former client who accused him of committing legal malpractice by setting up a bad real estate deal, a jury has ruled.
-
September 24, 2024
King & Spalding, Skadden Rep $1.7B DE Shaw-Macquarie Deal
Australian investment firm Macquarie Asset Management, advised by King & Spalding LLP, on Tuesday announced that it has agreed to take a "significant" minority stake in renewable energy company D.E. Shaw Renewables Investment Group, led by Skadden Arps Slate Meagher & Flom LLP, for up to $1.73 billion.
-
September 24, 2024
EMS Workers Get Class Status In Sex, Race Pay Gap Suit
A New York federal judge approved on Tuesday emergency medical services workers to proceed as a class in their lawsuit alleging New York City paid them less in relation to their almost exclusively white, male counterparts at the fire department, despite differences in rank and responsibility.
-
September 24, 2024
Ex-MoFo Cybersecurity Partner Joins Cooley In NY
Cooley LLP announced on Tuesday the hiring of a former global privacy and data security partner at Morrison Foerster LLP.
-
September 24, 2024
Entertainment IP Veteran Joins Saul Ewing In New York
Saul Ewing LLP announced Tuesday that a longtime intellectual property attorney with over 30 years of experience representing clients in matters related to advertising and branding has joined the firm's New York office as a partner.
-
September 24, 2024
Sentencing For Sen. Menendez, 2 Associates Delayed 3 Mos.
Former U.S. Sen. Bob Menendez and two businessmen will be sentenced in 2025 following the trio's conviction on bribery charges, according to a New York federal court order that pushed the dates back three months.
Expert Analysis
-
SolarWinds Ruling Offers Cyber Incident Response Takeaways
The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.
-
Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
-
PE Firms Should Prepare For Increased False Claims Scrutiny
The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.
-
NY Tax Talk: Triggers For Tax On Software-As-A-Service
Recent decisions by New York’s Tax Appeals Tribunal and Division of Tax Appeals, finding that services bundled with prewritten software were tangible property, provide insight into the features and customer interactions that render such products subject to New York sales tax, say Elizabeth Cha and Madison Ball at Eversheds Sutherland.
-
Series
After Chevron: ERISA Challenges To Watch
The end of Chevron deference makes the outcome of Employee Retirement Income Security Act regulatory challenges more uncertain as courts become final arbiters of pending lawsuits about ESG investments, the definition of a fiduciary, unallocated pension forfeitures and discrimination in healthcare plans, says Evelyn Haralampu at Burns & Levinson.
-
Menendez Corruption Ruling Highlights Attorney Proffer Risks
The recent admission of slides used in a preindictment presentation as evidence during U.S. Sen. Bob Menendez’s corruption trial highlights the potential pitfalls of using visual aids in attorney proffers, and the increasing importance of making disclaimers regarding information presented at the outset of proffers, say Carrie Cohen and Savanna Leak at MoFo.
-
What's In NYDFS Guidance On Use Of AI In Insurance
Matthew Gaul and Shlomo Potesky at Willkie summarize the New York Department of Financial Services' recently adopted circular letter on the use of artificial intelligence in insurance underwriting and pricing, and highlight the material changes made to it in response to comments on the draft circular letter.
-
2nd Circ. Ruling May Limit Discovery In Int'l Arbitration
The Second Circuit's recent Webuild v. WSP decision, affirming a discovery order's nullification in arbitration between Webuild and the government of Panama, demonstrates courts' unwillingness to find that arbitral tribunals in investor-state cases fall within the scope of the discovery statute, say attorneys at Cleary.
-
Eye On Compliance: New Pregnancy And Nursing Protections
With New York rolling out paid lactation breaks and extra leave for prenatal care, and recent federal legislative developments enhancing protection for pregnant and nursing workers, employers required to offer these complex new accommodations should take several steps to mitigate their compliance risks, says Madjeen Garcon-Bonneau at Wilson Elser.
-
How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
-
Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
-
NY Ruling Offers A Foreclosure Road Map For Lenders
A New York appellate court recently upheld a summary judgment ruling in favor of a commercial lender's foreclosure in U.S. Bank v. 1226 Evergreen Bapaz, illustrating the proofs lenders will need to prosecute a foreclosure action, especially where the plaintiff is an assignee of the originating lender, say attorneys at Sherman Atlas.
-
Ch. 11 Ruling Clarifies Cross-Border 'Alternative A' Scope
A New York bankruptcy court’s recent ruling in airline holding company SAS’s Chapter 11 case — addressing the applicability of Alternative A, which is similar to Section 1110 of the U.S. Bankruptcy Code — is a cautionary tale for contracting European Union member states that have adopted Alternative A domestically but have not made a formal declaration, say attorneys at Pillsbury.
-
Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
-
Takeaways From Tossed Deal In Visa, Mastercard Class Action
Given the rejection of a proposed deal in the long-running merchant antitrust class action against Visa and Mastercard in New York federal court, sweetening the proposed settlement pot likely will not be an option, leaving few possible outcomes including splitting the class and allowing opt-outs, say attorneys at Davis Wright.