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New York
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August 15, 2024
NY Asks Top Court To Nix Ruling Against Ethics Commission
The Office of the New York State Attorney General has submitted a brief urging the state's highest court to reverse a finding against an ethics commission that former Gov. Andrew Cuomo convinced a state court was unconstitutional.
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August 15, 2024
NY-Based Art Law Team Joins Loeb & Loeb From Withers
Loeb & Loeb LLP has boosted its private client group in New York with a four-attorney team from Withers LLP, including two partners, who focus their practices on art law.
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August 15, 2024
Trump Seeks To Delay NY Sentencing Until After Election
Donald Trump asked to delay sentencing in his New York hush money case until after the 2024 presidential election, arguing he needs time to potentially appeal if he loses an attempt to erase the felony conviction on the basis of presidential immunity.
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August 14, 2024
New York Sues Lease-To-Own Fintech For 'Cheating' Users
New York state sued lease-to-own fintech company Acima on Wednesday, accusing the firm of taking advantage of consumers with deceptive practices around its lease agreements and interest rates that go far beyond the state's standard for usury.
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August 14, 2024
FINRA Fines Morgan Stanley $400K Over Transaction Records
A Morgan Stanley wealth management unit will pay the Financial Industry Regulatory Authority $400,000 to settle claims it left required information off of approximately 550,000 trade confirmations for certain municipal securities.
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August 14, 2024
Temu Parent Faces Investor Suit Over Security, Labor Claims
Chinese retail company PDD Holdings Inc., the owner of online merchandiser Temu, was hit with a proposed securities class action in New York federal court alleging it concealed from investors that it actively sought to put malware on its users' phones and sold goods that were likely made by forced labor.
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August 14, 2024
Top Stories From Real Estate's Latest Quarterly Updates
Catch up on the headlines made by the largest public real estate companies during their latest quarterly earnings calls with investors, from data centers and lease deals to market forecasts and casinos.
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August 14, 2024
Harley-Davidson Liable For $287M In 'Trike' Crash Verdict
A New York state jury on Tuesday awarded $287 million in damages to a man and his late girlfriend's estate in a suit alleging a defective Harley-Davidson "trike" motorcycle caused a deadly crash in Pennsylvania, with punitive damages making up the bulk of the award.
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August 14, 2024
Music Exec L.A. Reid Can't Trim Producer's Sex Assault Suit
Music executive Antonio "L.A." Reid can't toss false imprisonment and emotional distress claims in a lawsuit accusing him of sexual assault brought under the New York Adult Survivors Act, after a federal judge rejected his argument that the claims are untimely because the act revives claims stemming from the alleged assault.
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August 14, 2024
NY Judge Tosses Noise Suit Against Queens Tennis Club
A New York state judge on Tuesday dismissed a Queens nonprofit's nuisance suit against The West Side Tennis Club, which was accused of being responsible for excessive noise coming from concerts held at its century-old outdoor stadium in the borough's Forest Hills neighborhood.
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August 14, 2024
Fuel Co. Can't Halt Fund's Contributions Dispute, Judge Says
An airplane fueling services company can't escape claims from a Teamsters benefit plan seeking more than $150,000 in unpaid contributions and other costs, a New York federal judge ruled, finding ambiguities with provisions in an agreement about contribution obligations preclude dismissal.
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August 14, 2024
EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS
European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.
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August 14, 2024
NC Court Defers Ruling To Unseal Cadwalader Coverage Suit
The North Carolina Business Court on Monday did not outright reject a bid by a Lloyd's of London syndicate looking to unseal a complaint by Cadwalader Wickersham & Taft LLP seeking coverage for a November 2022 data breach, though the judge did admonish the syndicate for failing to consult with Cadwalader's counsel before filing the motion.
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August 14, 2024
EliseAI Becomes 'Unicorn' After Latest $75M Fundraise
EliseAI, a conversational artificial-intelligence platform focused on the housing industry, on Aug. 14 announced it had reached "unicorn" status after the successful close of a $75 million Series D funding round.
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August 14, 2024
Avon Products Gets OK To Tap $43M DIP During Ch. 11 Case
A Delaware bankruptcy judge on Wednesday greenlighted cosmetics giant Avon Products Inc.'s request to borrow part of a $43 million financing package to support itself during its Chapter 11 case.
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August 14, 2024
Squarespace Shareholder Opposes $6.9B Go-Private Deal
Squarespace Inc. minority shareholder Glazer Capital LLC on Wednesday announced its intent to vote against the company's planned $6.9 billion buyout by private equity giant Permira, saying it has "serious concerns" about the fairness and integrity of the sale process.
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August 14, 2024
NY Judge Rejects Trump's 'Stale' Recusal Bid A 3rd Time
The New York judge who presided over Donald Trump's hush money trial denied the former president's third attempt to remove him from the case ahead of sentencing, ruling that the motion was "nothing more than an attempt to air grievances."
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August 13, 2024
Musk Can't Ax Fraud Suit Over Twitter Buy, Investors Say
A pension fund has fired back at Elon Musk's bid to dismiss the rest of its amended proposed securities fraud class action in New York federal court that alleges the X Corp. CEO covertly bought more than 5% of Twitter's stocks to save more than $143 million before announcing his intent to buy the social media platform.
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August 13, 2024
2nd Circ. Partially Revives Retirees' JPMorgan Benefits Suit
The Second Circuit on Tuesday partially resurrected a retired JPMorgan Chase employee's putative class action claiming it failed to properly notify and inform workers after the retirement plan was converted to a cash balance plan, ruling that JPMorgan had properly notified retirees as to only some aspects of the change.
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August 13, 2024
Insurers Look To Appoint Umpire In Hurricane Damage Fight
A group of foreign and domestic insurers has asked a New York federal court to resolve an impasse over the appointment of an arbitrator to adjudicate a dispute related to Hurricane Ida damage in the Lafourche Parish of Louisiana, urging the court to appoint an umpire.
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August 13, 2024
Take Me Out Of WDTX, Tech Supplier Cries
A Chicago tech manufacturer says LinkedIn profiles aren't enough to keep it from getting away from the Western District of Texas' U.S. District Judge Alan Albright in a patent case involving microchip patents brought by an ex-Microsoft executive's private equity-funded patent litigation outfit.
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August 13, 2024
Fund Manager Seeks Del. Legal Fee Rulings In Ponzi Fight
Attorneys for a former hedge fund manager now entangled in wide-ranging Ponzi scheme allegations urged a Delaware vice chancellor on Tuesday toward quick action on his legal fee indemnification claims, citing "great risk" from mounting personal liability exposure.
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August 13, 2024
Full 7th Circ. Asked To Review Tossing Of Protein Pouch Fight
A Florida-based protein powder maker is asking the Seventh Circuit to reconsider its upholding of a Wisconsin federal court's decision to toss its claims over allegedly defective plastic zipper pouches on the grounds that they were filed too late.
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August 13, 2024
Coinbase Says Scope Of Discovery Was Set By SEC Suit
Cryptocurrency exchange Coinbase told a New York federal judge that if its discovery requests for the U.S. Securities and Exchange Commission are onerous for the regulator, the agency's own claims in the registration suit are to blame.
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August 13, 2024
Honduran Woman's Rape Case Against ICE Dismissed Again
A Honduran immigrant waited too long to sue over claims that a U.S. Immigration and Customs Enforcement agent raped her repeatedly for seven years, a Connecticut federal court ruled for the second time, once again finding in favor of the defendants after the Second Circuit revived the case in 2023.
Expert Analysis
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Banks Have Won Syndicated Loan Battle, But Not The War
Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.
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Potential Unintended Consequences Of NY Sovereign Debt Bill
New York lawmakers recently proposed a law to create a framework for restructuring sovereign debt, but there are concerns that the bill will increase financing costs and that it attempts to solve problems that have largely been dealt with by collective action clauses, say Jeffrey Rothleder and Tara Peramatukorn at Squire Patton.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Exploring A New Era Of IP Law Amid The Rise Of Generative AI
Attorneys at Hogan Lovells explore the effects of generative artificial intelligence in three areas of intellectual property, recent updates and emerging trends, and its significance on the IP landscape now and moving forward.
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McKesson May Change How AKS-Based FCA Claims Are Pled
The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.
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5 Employer Actions Now Risky After Justices' Title VII Ruling
Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Teach Your Party Representative The Art Of Nonverbal Cues
As illustrated by recent reports about President Donald Trump’s nonverbal communication in court, jurors notice what’s happening at counsel table, which may color their perceptions of the case as a whole, so trial attorneys should teach party representatives to self-monitor their nonverbal behaviors, says Clint Townson at Townson Consulting.
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Bracing For The CFPB's War On Mortgage Fees
As the Consumer Financial Protection Bureau homes in on the legality of certain residential mortgage fees, the industry should consult the bureau's steady stream of consumer lending guidance for hints on its priorities, say Nanci Weissgold and Melissa Malpass at Alston & Bird.
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Top 10 Queries For Insurers Entering Surplus Lines Market
John Emmanuel at Locke Lord discusses what insurers should understand before entering into the surplus lines market, a growing, state-regulated area, subject to much variation in application and enforcement.
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Considering CGL Defense For Social Media Addiction Claims
A recent lawsuit filed in California state court against Meta seeks damages from technology companies for the costs of treating children allegedly suffering from social media addiction, but the prospects of defense coverage under commercial general liability insurance policies for a potential new wave of claims look promising, say Craig Hirsch and Tae Andrews at Pasich.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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Consider 2 Alternative Exit Plans In RE Distress Scenarios
In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.
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Breaking Down DOJ's Individual Self-Disclosure Pilot Program
The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.
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Reverse Veil-Piercing Ruling Will Help Judgment Creditors
A New York federal court’s recent decision in Citibank v. Aralpa Holdings, finding two corporate entities liable for a judgment issued against a Mexican businessman, shows the value of reverse veil piercing as a remedy for judgment creditors to go after sophisticated debtors who squirrel away assets, says Gabe Bluestone at Omni Bridgeway.