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September 04, 2024
Warner Music, Atlantic Beat Suit Over Alleged Abuse In 1980s
A New York state judge released Warner Music Group and Atlantic Records from a suit claiming their negligence allowed Atlantic's then-CEO to sexually assault the plaintiff in the 1980s and that they violated their duty of care by failing to fire him, finding the entities didn't exist at the time.
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September 04, 2024
Colgate-Palmolive Reaches Deal In 401(k) Cyber Theft Suit
A New York federal court on Wednesday dismissed a retired Colgate-Palmolive marketing executive's suit alleging her employer and a benefits administrator breached federal benefits law by allowing a thief to drain more than $750,000 from her account online, after parties reached a tentative settlement.
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September 04, 2024
2 Media Workers Indicted In Russian Influence Probe
Two employees of Russian state-controlled media channel RT were indicted by federal prosecutors on charges of engaging in a $10 million scheme to distribute Kremlin propaganda to U.S. audiences, part of a series of actions announced by the Biden administration Wednesday to crack down on Russian misinformation ahead of the November election.
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September 04, 2024
OpenAI Wants News Org.'s Copyright Suit Cut To Core Issue
OpenAI has asked a New York federal judge to dismiss multiple claims from a copyright suit brought against it and Microsoft Corp. by the Center for Investigative Reporting Inc., arguing the case should be pared down to the "core issue" of how the fair use doctrine applies to artificial intelligence training.
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September 04, 2024
Fintech Investor Tries To Undo 'Formulistic' Nix Of NCino Suit
A pension fund invested in financial technology company nCino Inc. urged Delaware's Supreme Court on Wednesday to revive its suit against company directors and investment firm Insight Venture Partners over a $1.2 billion acquisition, arguing the Chancery Court "missed the mosaic for the tiles" by dismissing the case.
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September 04, 2024
DraftKings, Vox Settle Photographer's Suit Over Giants QB Pic
A New York federal judge on Wednesday dismissed a photographer's copyright case against DraftKings and Vox Media over a picture of New York Giants quarterback Daniel Jones after receiving word that the litigants were finalizing a settlement.
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September 04, 2024
2nd Circ. Hears Unvaxxed NY Judge's 'Exile' Challenge
A Second Circuit panel on Wednesday voiced some skepticism of a bid to revive a New York state judge's lawsuit over his "exile" after he failed to get a religious exemption from the court system's COVID-19 vaccine mandate.
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September 04, 2024
2nd Circ. Says Free E-Book Library Not Fair Use
The Second Circuit on Wednesday rejected a nonprofit digital library's fair use defense of its practice of distributing copyrighted e-books for free, ruling in favor of a group of book publishers in a closely watched case.
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September 04, 2024
Pillsbury Adds EDNY Veteran As Corporate Prosecutions Rise
Pillsbury Winthrop Shaw Pittman LLP announced Tuesday that it has hired a former assistant U.S. attorney for the Eastern District of New York to help clients navigate the U.S. Department of Justice's increasingly aggressive pursuit of alleged corporate misconduct.
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September 04, 2024
AIG Avoids Defending Retailer Against Ghost Gun Lawsuits
Two AIG units have no duty to defend a Texas-based firearms retailer against three lawsuits alleging that it knowingly sold unfinished firearm components that would later be assembled into untraceable "ghost guns," a New York federal court ruled, finding the underlying claims do not allege a covered occurrence.
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September 04, 2024
Election Year Surprise? GOP Judges Opening Seats For Biden
Well ahead of fall elections that could flip the White House and U.S. Senate to Republicans, many GOP-appointed judges are retiring and giving Democrats opportunities to fill key seats before Republicans can capitalize on any wins at the polls, and several of the judges discussed the political backdrop with Law360.
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September 04, 2024
Kirkland-Led Warburg Pincus Lands $4B For Latest Fund
Kirkland & Ellis-advised investment firm Warburg Pincus has closed its Capital Solutions Founder Fund, securing commitments of more than $4 billion to pursue research-based opportunities in the market less than a year after closing its largest fund ever, according to a Wednesday announcement.
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September 04, 2024
AI Musician Duped Streaming Giants To Steal $10M, Feds Say
A North Carolina man streamed thousands of artificial intelligence-generated songs to dupe streaming giants like Spotify and YouTube and generate $10 million in an elaborate scam, federal prosecutors in Manhattan charged Wednesday in a first-of-its-kind case.
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September 04, 2024
Simpson Thacher-Led Blackstone Inks $16.2B AirTrunk Deal
Simpson Thacher & Bartlett LLP-led Blackstone Inc. said Wednesday it has agreed to acquire AirTrunk, an Australia-based data center platform focused on the Asia-Pacific region, from Macquarie Asset Management and the Public Sector Pension Investment Board at an implied enterprise value of over AU$24 billion ($16.2 billion).
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September 03, 2024
DOJ Charges Senior Hamas Leaders Over Oct. 7 Attacks
The U.S. Department of Justice on Tuesday announced criminal charges against six senior Hamas leaders the agency said had "central roles" in planning, supporting and perpetrating the Oct. 7 Hamas attack in Israel.
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September 03, 2024
PE Firm Investors Say False SEC Filings Caused Big Losses
Private equity firm Migom Global Corp., its subsidiary bank and its CEO have been named in a proposed securities class action alleging they inflated financial statements filed with the U.S. Securities and Exchange Commission to conceal their diversion of tens of millions of dollars in customer deposits to personal ventures.
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September 03, 2024
Ivy Leaguers Withdraw Opposition To NCAA's $2B NIL Deal
Two Brown University athletes have withdrawn their opposition to the NCAA's proposed $2.78 billion name, image and likeness settlement, telling a federal judge in California on Tuesday that they've been assured it will not impact their own antitrust case against several Ivy League schools.
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September 03, 2024
2nd Circ. Won't Ax Dad's Removal Over Child's Mental Health
The Second Circuit ruled Tuesday that a man who entered the U.S. illegally more than two decades ago can't cancel his removal on the grounds that it would cause his daughter hardship, ruling that any adverse impacts would be typical of family separation.
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September 03, 2024
Pharma Co., State Street Hit With Pension Annuity Suit
Bristol-Myers Squibb retirees hit the pharmaceutical giant and its investment adviser, State Street, with a class action Tuesday in New York, alleging they breached their fiduciary duty to pensioners by converting pension benefits into annuity insurance contracts using a provider that wasn't the safest available.
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September 03, 2024
Manhattan DA's Art Seizure Unit Hit With New Calif. Challenge
A private art collector has filed a California federal lawsuit fighting the Manhattan district attorney's investigation into his ancient Roman statue, joining a small but growing number of legal challenges to the New York prosecution unit that seizes and returns allegedly stolen antiquities.
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September 03, 2024
NBA, Warner Bros. Eye April 2025 Trial In Media Rights Spat
The NBA and Warner Bros. Discovery have told a New York state judge they want to complete an expedited discovery process in their broadcasting rights dispute, with a targeted trial start date in April.
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September 03, 2024
Aspire Biopharma Inks SPAC Deal At $316M Valuation
Aspire Biopharma Inc., advised by Sichenzia Ross Ference Carmel LLP, on Tuesday announced that it will go public through a merger with special purpose acquisition company PowerUp Acquisition Corp., led by Dykema Gossett PLLC, in a transaction that values the business at a pre-money equity value of roughly $316 million.
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September 03, 2024
Adviser Lied About Wall Street Skyscraper Digs, SEC Says
A purported $10 million private fund investment adviser faces U.S. Securities and Exchange Commission allegations that it lied about being a public company with an office on Manhattan's Wall Street as part of a filing in which it claimed registration exemption.
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September 03, 2024
Shkreli Hands Over 15 Copies Of Wu-Tang Clan Album
Martin Shkreli turned over 15 copies of the one-of-a-kind Wu-Tang Clan album he once owned after a New York federal judge ordered him to surrender any copies to his attorneys amid an ongoing lawsuit.
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September 03, 2024
Ch. 11 Bankruptcy Trustee Says Firm Charged Excessive Fees
The Chapter 11 trustee overseeing collapsed debt relief law firm Litigation Practice Group has accused a New York law firm of charging excessive fees while defending the California firm from lawsuits from merchant cash advance companies.
Expert Analysis
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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.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Series
Playing Dungeons & Dragons Makes Me A Better Lawyer
Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.
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Mercon Coffee Ch. 11 Ruling Shows Insider Releases' Limits
A New York bankruptcy court’s recent ruling in Mercon Coffee’s Chapter 11 case highlights the stringent requirements for retention-related transfers to insiders, even in cases where no creditor has objected, say Robert Klyman and Scott Shelley at DLA Piper.
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Class Action Law Makes An LLC A 'Jurisdictional Platypus'
The applicability of Section 1332(d)(10) of the Class Action Fairness Act is still widely misunderstood — and given the ambiguous nature of limited liability companies, the law will likely continue to confound courts and litigants — so parties should be prepared for a range of outcomes, says Andrew Gunem at Strauss Borrelli.
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3 Leadership Practices For A More Supportive Firm Culture
Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.