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December 13, 2024
US Trustee Wants Spirit To Explain Counsel Bid For Ch. 11
The U.S. Trustee's Office is opposing Spirit Airlines' bid to hire Davis Polk & Wardwell LLP as primary counsel in its Chapter 11 and Morris Nichols Arsht & Tunnell LLP as its conflicts counsel, telling a New York bankruptcy court that the carrier needs to specify what potential conflicts of interest exist.
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December 13, 2024
Ex-Weil Restructuring Atty Returns As Co-Chair
Weil Gotshal & Manges LLP announced Friday the return of a longtime partner who departed the firm last year to lead the debtor-side restructuring practice in the U.S. for Simpson Thacher & Bartlett LLP.
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December 13, 2024
Menendez, 2 Co-Defendants Lose Bids For New Bribery Trial
A Manhattan federal judge on Friday rejected bids by former Sen. Bob Menendez and two co-defendants for a new trial, ruling there is no manifest injustice after the ex-senator argued the government failed to offer any evidence of how he used his office's power to benefit any of the alleged bribe givers.
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December 13, 2024
Off The Bench: PE Buys In On NFL, WWE Abuse Suit Back On
In this week's Off The Bench, two teams usher in a new era for the NFL by bringing in private equity investors, a suit accusing the WWE and Vince McMahon of sexual abuse and trafficking picks back up while a federal investigation continues, and a private equity giant and NHL owner passes away.
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December 13, 2024
Taxation With Representation: Kirkland, Davis Polk, Wachtell
In this week's Taxation With Representation, Google and TPG Rise Climate partner with Intersect Power, Gen Digital Inc. acquires MoneyLion Inc., Patient Square Capital acquires Patterson Companies Inc., and the Buffalo Bills and Miami Dolphins sell minority ownership shares to private equity firms.
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December 13, 2024
Trump Rips DA's 'Dark Dream' To Legally Treat Him As Dead
Donald Trump's attorneys Friday slammed a proposal by the Manhattan district attorney to preserve the president-elect's hush money conviction by treating him like a defendant who dies after a verdict, pushing the judge to dismiss the case altogether.
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December 13, 2024
Kirkland, Wachtell Guiding Warner Bros.' Strategic Split
Kirkland & Ellis LLP and Wachtell Lipton Rosen & Katz are guiding Warner Bros. Discovery Inc. on a new plan to separate its cable TV businesses from its streaming and studio operations.
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December 13, 2024
4 Firms Rep On Rent-A-Center Owner's $460M Brigit Deal
Rent-A-Center owner Upbound Group Inc. has agreed to acquire financial technology company Brigit for up to $460 million, with Sullivan & Cromwell LLP and Mayer Brown LLP guiding Upbound and Cooley LLP and Morgan Lewis & Bockius LLP representing Brigit.
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December 12, 2024
Diddy Hit With 3 New Sexual Assault Suits In NY
Three men Thursday filed new suits against Sean "Diddy" Combs, each claiming that the hip-hop mogul got them drunk, drugged them and raped them in recent years, according to complaints filed in New York County Supreme Court.
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December 12, 2024
SEC Fines Investment Co. For Adviser's Cherry-Picking Scheme
The U.S. Securities and Exchange Commission announced Thursday that it fined SeaCrest Wealth Management $375,000 for allegedly failing to implement policies and procedures that would have possibly prevented the cherry-picking scheme of a former adviser, who is separately being sued by the agency.
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December 12, 2024
Ch. 7 Trustee Must Explain $200M Holdback Bid, Court Told
The owner of two bankrupt real estate companies has asked a Connecticut state court for permission to question the Chapter 7 trustee who wants a $200 million placeholder in connection with a shareholder's derivative claims, arguing the trustee must detail his allegations of the owner diverting millions to other business interests.
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December 12, 2024
NY Judge Bars Pot Regulator From Processing Retail Apps
A New York state judge Thursday ordered cannabis regulators to stop processing applications submitted by would-be marijuana sellers who did not secure a location for their proposed pot shop before November of last year, leaving hundreds of prospective retailers in limbo.
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December 12, 2024
USAA Inks $3.25M Data Breach Deal With 22K Customers
More than 22,000 USAA customers have asked a New York federal judge to grant preliminary approval to a $3.2 million settlement to resolve a proposed class action alleging the company's security failures in its online insurance quote system allowed cybercriminals to open fraudulent memberships.
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December 12, 2024
TD Bank Sued Over AML Controls After Ex-Employee's Arrest
Toronto-Dominion Bank and its top brass concealed and downplayed issues with the bank's anti-money laundering controls, according to a class action filed one day after a former employee was arrested and charged with assisting in a money laundering scheme that sent millions of dollars in narcotics proceeds from the U.S. to Colombia.
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December 12, 2024
Photobucket Accused Of Training AI On Photos Sans Consent
A proposed class action filed in Colorado federal court Wednesday alleges that image hosting website Photobucket unlawfully used billions of photographs uploaded by users for biometric data and training artificial intelligence.
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December 12, 2024
2nd Circ. Won't Rethink Dual Citizen's FBAR Penalties
The Second Circuit will not review its September decision finding that a dual U.S.-French citizen is liable for tax penalties for failing to file reports of foreign bank and financial accounts, the court said Thursday.
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December 12, 2024
2 Deny Joining Would-Be Trump Assassin To Target Journalist
Two New York City men on Thursday denied participating in a plot to kill a noted journalist and Iran critic, pleading not guilty to murder-for-hire charges that claim they worked for a foreign agent who also is tasked with targeting Donald Trump.
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December 12, 2024
Trump Vows Immediate Jan. 6 Pardons As DOJ Doubles Down
President-elect Donald J. Trump said he plans to issue swift pardons for people accused or convicted of rioting at the U.S. Capitol on Jan. 6, 2021, in an effort to keep him in power, as prosecutors said in one case that accepting such a pardon would amount to an admission of guilt.
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December 12, 2024
NY Courts Defy Watchdog, Won't Release Judicial Ethics Data
Counsel for the New York State Unified Court System told the state transparency watchdog Wednesday it has no obligation to release judges' and court officials' financial disclosure data under public records law.
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December 12, 2024
Senate Judiciary Committee Sends Last Nominees To Floor
The Senate Judiciary Committee sent the names of two judicial nominees for California to the full Senate for confirmation on Thursday along party-line votes.
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December 12, 2024
2nd Circ. Upends Arbitration Order In Bakery Drivers' Suit
The Second Circuit voided its prior ruling that a bakery's delivery drivers must arbitrate claims alleging they were misclassified as independent contractors, saying Thursday the question of whether they are exempt from arbitration is up in the air after the U.S. Supreme Court weighed in on the suit.
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December 12, 2024
Holland & Knight's Latest Corporate Atty Joins From WilmerHale
Holland & Knight LLP announced the addition of a former WilmerHale attorney to its New York office Wednesday, touting his work for clients in sectors such as technology, life sciences, municipal services, financial services, specialty manufacturing and energy.
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December 12, 2024
Woody Allen Axed Private Chef Over Military Duties, Suit Says
Filmmaker Woody Allen fired a personal chef because he repeatedly complained he wasn't being properly paid and had to take time off to participate in military exercises as a member of the U.S. Army Reserve, according to a lawsuit filed in New York federal court.
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December 12, 2024
JUDGES Act Passes House But Biden Veto Looms
The House voted 236-173 on Thursday to pass a bill to add more judgeships, which tees it up for a likely veto by the president, as many Democrats have soured on the measure after Donald Trump's victory at the polls.
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December 11, 2024
MDL Judge Rejects Meta's Claim Discovery Is Burdensome
A California federal magistrate judge overseeing discovery in multidistrict litigation over social-media platforms' allegedly addictive designs on Wednesday rejected Meta Platforms' arguments additional discovery sought by personal-injury plaintiffs is overly burdensome, noting that Meta's discovery production pales in comparison to the millions of documents that Meta has demanded from plaintiff states.
Expert Analysis
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Video Game Release Highlights TM Pitfalls Of App Store
The upcoming release of poker video game Balatro in Apple's App Store underscores the tradeoff of keyword advertising and trademark protection for indie developers who, unlike corporate counterparts, lack resources but seek to maximize the reach of their game, say Parmida Enkeshafi and Simon Pulman at Pryor Cashman.
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Missouri Injunction A Setback For State Anti-ESG Rules
A Missouri federal court’s recent order enjoining the state’s anti-ESG rules comes amid actions by state legislatures to revise or invalidate similar legislation imposing disclosure and consent requirements around environmental, social and governance investing, and could be a blueprint for future challenges, say attorneys at Paul Hastings.
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How States Are Approaching AI Workplace Discrimination
As legislators across the U.S. have begun addressing algorithmic discrimination in the workplace, attorneys at Reed Smith provide an overview of the status, applicability and provisions of 13 state and local bills.
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The Risks Of Employee Political Discourse On Social Media
As election season enters its final stretch and employees increasingly engage in political speech on social media, employers should beware the liability risks and consider policies that negotiate the line between employees' rights and the limits on those rights, say Bradford Kelley and James McGehee at Littler.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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The State Law Landscape After Justices' Social Media Ruling
Following the U.S. Supreme Court’s recent NetChoice ruling on social media platforms’ First Amendment rights, it’s still unclear if state content moderation laws are constitutional, leaving online operators to face a patchwork of regulation, and the potential for the issue to return to the high court, say attorneys at Crowell & Moring.
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Navigating New Enforcement Scrutiny Of 'AI Washing'
The U.S. Securities and Exchange Commission's recent lawsuit against Joonko Diversity, its first public AI-focused enforcement action against a private company, underscores the importance of applying the same internal legal and compliance rigor to AI-related claims as other market-facing statements, say attorneys at Fried Frank.
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Avoiding Corporate Political Activity Pitfalls This Election Year
As Election Day approaches, corporate counsel should be mindful of the complicated rules around companies engaging in political activities, including super PAC contributions, pay-to-play prohibitions and foreign agent restrictions, say attorneys at Covington.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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Series
A Day In The In-House Life: Narmi GC Talks Peak Productivity
On a work-from-home day in August, Narmi general counsel Amy Pardee chronicles a typical day in her life in which she organizes her time to tackle everything from advising on products and contract negotiations to volunteering and catching up on the New York Times crossword.
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How Ripple Final Judgment Fits In Broader Crypto Landscape
The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.
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NYC Wage Info Bill Highlights Rise In Pay Transparency Laws
With New York City the latest to mull requiring companies to annually report employee wage data, national employers should consider adapting their compliance practices to comply with increasingly common pay transparency and disclosure obligations at state and local levels, says Kelly Cardin at Littler Mendelson.
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The Bank Preemption Ripple Effects After Cantero, Flagstar
The importance of federal preemption for financial institutions will only increase as technology-driven innovations evolve, which is why the U.S. Supreme Court's recent decision in Cantero v. Bank of America and vacatur of Kivett v. Flagstar Bank have real modern-day significance for national banks, say attorneys at WilmerHale.