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November 04, 2024
Turkish Co. Asks To End Sanctions As Kyrgyzstan Settles Suit
Kyrgyzstan has agreed to a settlement deal that resolves a Turkish company's suit to confirm an $11.6 million arbitral award it won after being forcibly ejected from its hotel project in the capital city of Bishkek, the company has told a New York federal judge.
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November 04, 2024
Hilton Gets $30M Punitive Damages Injury Award Cut To $10M
A New York federal judge has slashed a jury's punitive damages award from $30 million to $10 million in a suit accusing Hilton of causing a hotel guest's severe spinal injuries when it knowingly failed to replace defective bathroom doors, saying the award was excessive.
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November 04, 2024
Binance Says Lawsuit Can't Connect It To Terrorism Finance
Cryptocurrency platform Binance has asked a New York federal judge to toss a suit alleging the firm helped foster terrorist activity, saying that it "unequivocally condemns all acts of terrorism" and that the complaint does not connect the company to the alleged acts.
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November 04, 2024
FERC, NJ Conservation Orgs Battle Over Pipeline Rehearing
The Federal Energy Regulatory Commission is clashing with a host of conservation groups and the New Jersey Division of the Rate Counsel over whether the D.C. Circuit should reconsider a panel decision that vacated the agency's approval for a natural gas pipeline expansion on the East Coast.
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November 04, 2024
'Oh, Come On': 5th Circ. Doubts Intuit Ads Misled Consumers
The Fifth Circuit on Monday seemed skeptical that the company behind TurboTax duped customers into thinking they could file their tax returns for free, with judges engaging in a lengthy back-and-forth with the Federal Trade Commission over how noticeable disclosures on the ads had to be for the agency to consider them truthful.
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November 04, 2024
Judge 'Sorry' Before IP Retrial: 'My Mind Has Been Elsewhere'
A New York federal judge has apologized for not being prepared at a pretrial conference ahead of a damages retrial between lighting fixture company Lutron Electronics and the company whose window shade patent it was found to infringe, GeigTech East Bay.
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November 04, 2024
SEC Dings Adviser For Improper Athlete-Endorsed Ads
The U.S. Securities and Exchange Commission has fined an investment adviser over allegations that its advertisements include endorsements from professional soccer and mixed martial arts athletes without disclosing the athletes were not clients of the firm and were paid for their endorsements.
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November 04, 2024
FINRA Fines Morgan Stanley $1M For Controls Violations
Morgan Stanley & Co. LLC has agreed to pay $1 million to resolve Financial Industry Regulatory Authority claims it violated the Exchange Act by failing to safeguard its customers against the entry of orders that were placed in error.
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November 04, 2024
NY AG Seeks Contempt For Anti-Abortion Org's 'Interference'
Counsel for the New York attorney general asked a federal judge Monday to hold an anti-abortion group in contempt for allegedly seeking to interfere with women's access to clinics despite an injunction, prompting questions about the limits of an advocate's civil rights.
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November 04, 2024
Yale Gets 2nd Circ. Win In COVID Test Reimbursement Row
A Connecticut medical practice can't sue Yale University under federal legislation enacted during the COVID-19 pandemic to recover the $1.1 million it said it incurred while providing COVID testing to university health plan members, the Second Circuit ruled Monday, finding no private cause of action existed.
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November 04, 2024
Harris' 'SNL' Sketch Didn't Break Rules, FCC Spokesman Says
A Republican on the Federal Communications Commission is pushing NBC to follow equal airtime rules following Vice President Kamala Harris' appearance on "Saturday Night Live" just days before Election Day, but a spokesperson for the FCC chair says there is no foul play here.
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November 04, 2024
Long Island Diocese Can Use Ch. 11 Plan Disclosures
The Roman Catholic diocese that covers New York's Long Island received bankruptcy court approval Monday for a Chapter 11 plan disclosure statement that now includes the final terms of a proposed settlement with a group of its insurers.
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November 04, 2024
Justices Won't Hear UBS Suit Over Disclosed Account Info
The U.S. Supreme Court declined Monday to hear a couple's suit accusing UBS of fraudulently flagging an account to the Internal Revenue Service in violation of civil provisions under the Racketeer Influenced and Corrupt Organizations Act.
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November 04, 2024
Vinson & Elkins Adds Simpson Thacher Atty As M&A Co-Head
Vinson & Elkins LLP has brought on a veteran mergers and acquisitions lawyer as a New York-based co-head of strategic M&A, the firm said Monday.
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November 04, 2024
Feds Slam Ozy Media CEO's 'Last-Ditch' Effort To DQ Judge
Prosecutors have pushed back against Ozy Media CEO Carlos Watson's "last-ditch effort" to get his fraud and identity theft convictions undone, insisting that investments owned by the New York federal judge overseeing his case are in hedge funds and not in Watson's victims, and are too small to matter.
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November 04, 2024
US Soccer Claims Promoters 'Flip-Flopped' In Antitrust Suit
The U.S. Soccer Federation accused promoter Relevent Sports of constantly changing its theories of antitrust violations "on the fly" and asked a New York federal court to throw out its suit a second time, after talks of a settlement between the two sides recently fell apart.
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November 04, 2024
Paul Hastings Adds NY Finance Atty From Winston & Strawn
Paul Hastings LLP announced Monday that it has added a leveraged finance lawyer from Winston & Strawn LLP as a partner in New York to strengthen its private equity and mergers and acquisitions platforms.
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November 04, 2024
4 Firms Guide $3.1B Take-Private Deal For Aviation Co. ATSG
Private equity firm Stonepeak, advised by Simpson Thacher & Bartlett LLP and Hogan Lovells, is buying Air Transport Services Group Inc., guided by Davis Polk & Wardwell LLP and Vorys Sater Seymour and Pease LLP, at an enterprise value of roughly $3.1 billion, the aviation company said Monday.
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November 04, 2024
Former FTC Northeast Director Joins Arnold & Porter
After 12 years in a senior role with the Federal Trade Commission, the former director of the agency's Northeast region has moved to private practice and joined forces with another former FTC enforcer he reported to for years, he told Law360 Pulse Friday.
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November 01, 2024
'Mutant Ape' NFT Developer Avoids Prison For 'Rug Pull'
A 26-year-old French citizen was spared further incarceration on Friday for a $2.9 million scheme to fraudulently market "Mutant Ape Planet" nonfungible tokens to investors, a sentence in large part driven by the uncertainty over the purchasers' loss.
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November 01, 2024
Real Estate Recap: Election Expectations, EB-5, $50B PE Bet
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including perspectives from real estate leaders ahead of Tuesday's election, takeaways from the Advanced EB-5 Industry Conference in Miami, and two private equity firms' $50 billion bet on data center and energy generation projects.
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November 01, 2024
NJ Man Cops To Russian Scheme To Smuggle US Tech
A dual U.S.-Russian national accused of scheming to smuggle sensitive, American-made technology to further Russia's weapons development pled guilty on Friday to conspiracy charges in New York federal court, according to prosecutors.
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November 01, 2024
Crypto Co. Gemini Teed Up For CFTC Trial After Appeal Denied
A New York federal judge has denied crypto exchange Gemini's bid to immediately appeal his decision that Gemini could be held liable for alleged misrepresentations to the U.S. Commodity Futures Trading Commission concerning its proposed bitcoin futures contract, sending the case to trial.
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November 01, 2024
2nd Circ. Won't Revive Warner Bros. Discovery Merger Suit
The Second Circuit refused Friday to resurrect a putative shareholder class action over the $43 billion tie-up that created Warner Bros. Discovery Inc., saying pre-merger documents adequately informed investors about streaming subscriber numbers and planned business strategies for the combined media giant.
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November 01, 2024
Paramount Sends User Data To Facebook, TikTok, Suit Says
Paramount Global faces a proposed class action in New York federal court by a subscriber who accuses the streaming giant of sharing users' personally identifiable information, including their viewing history, with third parties like Facebook, TikTok and Google without permission, in violation of the Video Privacy Protection Act.
Expert Analysis
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Class Actions At The Circuit Courts: August Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers certification cases touching on classwide evidence of injury from debt collection practices, defining coupon settlements under the Class Action Fairness Act, proper approaches for evaluating attorney fee awards in class action settlements, and more.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Notable Q2 Updates In Insurance Class Actions
Mark Johnson and Mathew Drocton at BakerHostetler discuss the muted nature of the property and casualty insurance class action space in the second quarter of the year, with no large waves made in labor depreciation and total-loss vehicle class actions, but a new offensive theory emerging for insurance companies.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.
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Chapter 11 Ruling Signals Emphasis On Lockup Provisions
A New York bankruptcy court's recent ruling in GOL Linhas Aéreas Inteligentes’ Chapter 11 case provides creditors with a strong basis for resisting requests to lock up or otherwise limit their voting rights, say Dania Slim and Andrew Alfano at Pillsbury.
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Lessons From Recent SEC Cyber Enforcement Actions
The recent guidance by the SEC's Division of Corporation Finance is helpful to any company facing a cybersecurity threat, but just as instructive are the warnings raised by the SEC's recent enforcement actions against SolarWinds, R.R. Donnelley and Intercontinental Exchange, say attorneys at O'Melveny.
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9th Circ. Ruling Flags Work Harassment Risks Of Social Media
The recent Ninth Circuit ruling in Okonowsky v. Garland, holding an employer could be liable for a co-worker's harassing social media posts, highlights new challenges in technology-centered and remote workplaces, and underscores an employer's obligation to prevent hostile environments wherever their employees clock in, say Jennifer Lada and Phillip Schreiber at Holland & Knight.
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Trump's Best Hush Money Appeal Options Still Likely To Fail
The two strongest potential arguments former President Donald Trump could raise in appealing his New York hush money conviction seem promising at first, but precedent strongly suggests they will still ultimately fail — though, of course, Trump's unique position could lead to surprising results, says former New York Supreme Court Justice Ethan Greenberg, now at Anderson Kill.
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Vendor Rights Lessons From 2 Chapter 11 Cases
A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.
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2nd Circ. Ruling Reaffirms Short-Swing Claims Have Standing
The Second Circuit's recent ruling in Packer v. Raging Capital reversing the dismissal of a shareholder's Section 16(b) derivative suit seeking to recover short-swing profits for lack of constitutional standing settles the uncertainty of the district court's decision, which could have undercut Congress' intent in crafting Section 16(b) in the first place, say attorneys at Simpson Thacher.