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August 06, 2024
Iraqi Kurdish Gov't Looks To Nix $490M Debt Suit
The Kurdistan Regional Government of Iraq urged a New York court Monday to toss litigation to enforce a $490 million judgment issued in a dispute over a loan to a Kurdish mobile phone operator, saying an international arbitration tribunal has confirmed that the debt no longer exists.
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August 06, 2024
Cadwalader Slams Lloyd's For 'Needless' Disclosure, Mockery
Cadwalader Wickersham & Taft LLP has opposed a bid by a Lloyd's of London syndicate to unseal the law firm's complaint seeking $1 million of coverage for a November 2022 data breach, telling the North Carolina Business Court that Lloyd's has chosen to "mock and insult their own customer" while exposing confidential information in its filing to the court.
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August 06, 2024
NYC Prof Found Guilty Of Acting As A Secret Chinese Spy
A Brooklyn federal jury on Tuesday unanimously convicted an academic and author of secretly acting as an agent of the Chinese government by feeding information about Chinese dissidents and pro-democracy activists to China's intel service, following a weeklong jury trial, according to the U.S. Attorney's Office for the Eastern District of New York.
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August 06, 2024
Pharma Co. Founder Beats Suit Over Short-Swing Trading
The founder of Y-mAbs Therapeutics Inc. beat back a suit alleging he realized more than $2.5 million in so-called short-swing profits after he exchanged his Y-mAbs stock for those of another company, with a New York federal judge saying in a ruling of first impression that the founder does not need to return the gains he received.
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August 06, 2024
Powell, Trump Attys Seek To Halt Mich. Bar Discipline Cases
Sidney Powell and other attorneys behind a legal challenge to Michigan's 2020 presidential election results want bar discipline proceedings paused while they ask the Michigan Supreme Court to step in and dismiss the professional misconduct complaints.
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August 06, 2024
Music Licensor Settles Disco Song Row With Detroit Eatery
Music licensor Broadcast Music Inc. and two other major recording companies have settled a copyright infringement lawsuit against a Detroit restaurant, resolving claims of unauthorized performances of three popular disco songs.
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August 06, 2024
Feds Seek $3.5M Premerger Penalty From Sporting Events Biz
Federal prosecutors have struck a deal requiring sports and entertainment event company Legends Hospitality to pay a $3.5 million penalty to settle allegations that it illegally conducted business with acquisition target ASM Global Inc. before finalizing the deal.
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August 06, 2024
Genesis Seals Deal To End $600M Dispute With DCG
Defunct cryptocurrency services company Genesis Global on Tuesday ended a $600 million dispute with its parent company Digital Currency Group while saying it hopes other litigation against DCG can add to the $3 billion in assets it returned to customers last week.
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August 06, 2024
Ex-Pfizer Worker Who Traded On Paxlovid Secrets Gets 9 Mos.
A Manhattan federal judge sentenced a former Pfizer Inc. statistician from New Jersey to nine months in prison Tuesday after a jury convicted him of insider trading on secrets about his former company's COVID-19 therapy trials for an illegal $272,000 profit.
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August 06, 2024
SEC Decries Coinbase's 'Sweeping' Discovery Demand
The U.S. Securities and Exchange Commission has urged a New York federal judge to deny crypto exchange Coinbase's "additional, sweeping" request for all documents and communications the regulator may have made surrounding how securities laws apply to digital assets, arguing most of the documents are privileged or irrelevant to the case.
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August 06, 2024
Blank Rome Adds Closed Insurance Boutique's Managing Atty
Blank Rome LLP has brought on an insurance partner from now-shuttered boutique Pasich LLP to join its insurance recovery group, the firm announced Monday.
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August 06, 2024
Exxon Assistant GC Jumps To Duane Morris As Trial Partner
A longtime attorney at Exxon Mobil Corp. has made the move from in-house to private practice at Duane Morris LLP to begin the next chapter of his career.
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August 06, 2024
Otterbourg's Lender Finance Co-Chair Joins Holland & Knight
The latest finance attorney to join Holland & Knight LLP's ranks in 2024 is the former co-head of Otterbourg PC's lender finance practice, the firm has announced.
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August 06, 2024
Insurance Atty Shakes Off Retirement To Join Saul Ewing
Eighteen months of retirement was all Saul Ewing's latest addition to its insurance practice could take before he returned to private practice and joined the firm's New York office.
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August 06, 2024
Ex-Barnes & Thornburg, Apollo Atty Joins Perkins Coie
A former Barnes & Thornburg LLP attorney and one-time Apollo Global Management counsel is the latest funds attorney to join Perkins Coie's New York office, the firm said Tuesday.
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August 06, 2024
Gibson Dunn Guiding Veritas On $2.45B Cloud Banking Buy
Gibson Dunn is advising Veritas Capital on a deal to purchase the cloud-based digital banking business of NCR Voyix Corp., represented by King & Spalding, for $2.45 billion in cash plus a potential future payment of up to $100 million, NCR Voyix said in a statement Tuesday.
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August 05, 2024
Epstein's Advisers Must Face Victims' Proposed Class Action
A New York federal judge on Monday refused to throw out a putative class action against associates of Jeffrey Epstein, yet also held that one of the victims couldn't pursue her claims in a 2021 liability release that is "about as broad and categorical as it gets."
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August 05, 2024
GSA Makes First Tribal Carbon-Free Electricity Purchase
A Seneca Nation holding company is the first tribal majority-owned business to be awarded a bid from the U.S. General Services Administration to sell carbon pollution-free electricity to the federal agency, a move that's been in the works since at least April.
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August 05, 2024
Justices Reject Missouri's Bid To Block Trump's NY Gag Order
The U.S. Supreme Court rejected on Monday an effort by Missouri's Republican attorney general to lift convicted former President Donald Trump's gag order on First Amendment grounds and delay sentencing in his New York criminal hush money case until after the general election.
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August 05, 2024
Morgan Stanley Says SEC Eyeing Its Cash Sweep Policies
Morgan Stanley told investors on Monday that it is fielding enforcement inquiries from the U.S. Securities and Exchange Commission about its investment account cash sweep policies.
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August 05, 2024
Fanatics Wants Disputed Deal With Cardinals Rookie Sealed
Seeking to protect "sensitive, nonpublic commercial information" about its breach of contract suit against NFL rookie Marvin Harrison Jr., Fanatics asked a New York state court Monday to seal all unredacted parts of the complaint and of several related filings, including Harrison's motion to dismiss the suit.
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August 05, 2024
Pomerantz To Lead Suit Over Ad Tech Co.'s Microsoft Ties
Pomerantz LLP beat out several other firms on Monday to lead a proposed shareholder class action alleging that shares of ad tech company Perion Network declined nearly 40% after its strategic partner Microsoft Bing "unilaterally" changed its search advertising pricing.
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August 05, 2024
Marriott Says NYC Hotels' Housing Of Migrants Violated Deal
Marriott International Inc. has accused a hotel company in Jamaica, Queens, of breaching a contract by repurposing two properties for migrant housing while refusing to "de-identify" itself with the global hotel brand.
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August 05, 2024
Cornell Workers Urge High Court To Hear ERISA Suit
Cornell University employees doubled down Monday on their request that the U.S. Supreme Court hear their class action accusing the university of mismanaging its employees' retirement savings, saying high court review is warranted to clear up a circuit court split.
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August 05, 2024
SVB Ex-Parent's Ch. 11 Plan OK'd With $1.9B FDIC Fight Alive
Silicon Valley Bank's former owner received a New York bankruptcy court's blessing to liquidate and emerge from Chapter 11, but the judge rejected portions of the plan that federal regulators argued would hamper their defense against SVB Financial Group's efforts to recoup some $1.9 billion seized by an FDIC receiver when the bank collapsed.
Expert Analysis
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Opinion
Climate Change Shouldn't Be Litigated Under State Laws
The U.S. Supreme Court should reverse the Hawaii Supreme Court's October decision in Honolulu v. Sunoco that Hawaii could apply state law to emissions generated outside the state, because it would lead to a barrage of cases seeking to resolve a worldwide problem according to 50 different variations of state law, says Andrew Ketterer at Ketterer & Ketterer.
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E-Discovery Quarterly: Recent Rulings On Text Message Data
Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.
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Keeping Up With Class Actions: A New Era Of Higher Stakes
Corporate defendants saw unprecedented settlement numbers across all areas of class action litigation in 2022 and 2023, and this year has kept pace so far, with three settlements that stand out for the nature of the claims and for their high dollar amounts, says Gerald Maatman at Duane Morris.
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5 Climate Change Regulatory Issues Insurers Should Follow
The climate change landscape for insurers has changed dramatically recently — and not just because of the controversy over the U.S. Securities and Exchange Commission's climate-related risk disclosure rules, says Thomas Dawson at McDermott.
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Justices Clarify FAA But Leave Behind Important Questions
The U.S. Supreme Court's decision last month in Bissonnette v. LePage firmly shuts the door on any argument that the Federal Arbitration Act's Section 1 exemption is limited to transportation workers whose employers transport goods on behalf of others, but two major issues remain unresolved, say Joshua Wesneski and Crystal Weeks at Weil.
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Is The Digital Accessibility Storm Almost Over?
Though private businesses have faced a decadelong deluge of digital accessibility complaints in the absence of clear regulations or uniformity among the courts, attorneys at Epstein Becker address how recent federal courts’ pushback against serial Americans with Disabilities Act plaintiffs and the U.S. Department of Justice’s proposed government accessibility standards may presage a break in the downpour.
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Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
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How Courts Are Interpreting Fed. Circ. IPR Estoppel Ruling
In the year since the Federal Circuit’s Ironburg ruling, which clarified the scope of inter partes and post-grant review estoppel, district court decisions show that application of IPR or PGR estoppel may become a resource-intensive inquiry, say Whitney Meier Howard and Michelle Lavrichenko at Venable.
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2nd Circ. Eminent Domain Ruling Empowers Municipalities
The Second Circuit's recent decision in Brinkmann v. Town of Southold, finding that a pretextual taking does not violate the Fifth Amendment's takings clause, gives municipalities a powerful tool with which to block unwanted development projects, even in bad faith, say James O'Connor and Benjamin Sugarman at Phillips Lytle.
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NY Tax Talk: Primary Function Is Key Analysis For Sales Tax
Two sales tax cases recently decided by New York's Appellate Division illustrate why both taxpayers and the state's Department of Revenue subscribe to the primary function test, a logical way to determine whether business transactions are subject to sales tax, say Elizabeth Cha and Jeremy Gove at Eversheds Sutherland.
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Notable Q1 Updates In Insurance Class Actions
Mark Johnson and Mathew Drocton at BakerHostetler discuss notable insurance class action decisions from the first quarter of the year ranging from salvage vehicle titling to rate discrimination based on premium-setting software.
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Opinion
Viral Deepfakes Of Taylor Swift Highlight Need For Regulation
As the nation grapples with addressing risk from artificial intelligence use, the recent circulation of AI-generated pornographic images of Taylor Swift on the social platform X highlights the need for federal legislation to protect nonconsenting subjects of deepfake pornography, say Nicole Brenner and Susie Ruiz-Lichter at Squire Patton.
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Opinion
Time To Fix NYC's Broken Property Assessment System
A New York appellate court's decision to revive Tax Equity Now New York v. City of New York may force the city to revamp its outdated and unfair real estate tax assessment system, which could be fixed with a couple of simple changes, says Seth Feldman at Romer Debbas.
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Social Media Free Speech Issues Are Trending At High Court
The U.S. Supreme Court's recent decision examining what constitutes state action on social media can be viewed in conjunction with oral arguments in two other cases to indicate that the court sees a need for more clarity regarding how social media usage implicates the First Amendment, say attorneys at Kean Miller.
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Tylenol MDL Highlights Expert Admissibility Headaches
A New York federal court's decision to exclude all plaintiff experts in a multidistrict litigation concerning prenatal exposure to Tylenol highlights a number of expert testimony pitfalls that parties should avoid in product liability and mass tort matters, say Rand Brothers and Courtney Block at Winston & Strawn.