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New York
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October 23, 2024
Kirkland Adds Freshfields Atty To Boost Private Credit Bench
Kirkland & Ellis LLP has welcomed an expert in leveraged finance from Freshfields Bruckhaus Deringer LLP, saying Wednesday that his diverse practice will strengthen the firm's liability management and opportunistic credit practices and support its position in the growing private credit sector.
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October 23, 2024
'MetaBirkins' TM Appeal May Split 2nd Circ. On Art Question
A Second Circuit panel appeared divided Wednesday over whether a Los Angeles man should be liable for infringing Hermès International's handbag trademarks with his "MetaBirkins" nonfungible tokens, with two judges seemingly siding with the Paris designer and one with the purported artist.
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October 23, 2024
Harvey Weinstein Must Face All NY Charges At Retrial
A New York state judge on Wednesday denied Harvey Weinstein a separate trial for his new sexual assault charge, ruling that he must face that allegation alongside his original indictment at a retrial that is now expected to begin in early 2025.
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October 23, 2024
2nd Circ. Backs Early Wells Fargo Win In $100M RMBS Case
The Second Circuit on Wednesday approved an early win for Wells Fargo in a lawsuit brought by Commerzbank AG alleging it lost $100 million investing in residential mortgage-backed securities, saying the German lender didn't have standing to sue.
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October 23, 2024
CFPB Says Goldman, Apple To Pay $89.8M Over Card Program
The Consumer Financial Protection Bureau said Wednesday that it has ordered Goldman Sachs and Apple to pay more than $89 million for alleged violations tied to their Apple-branded credit card partnership, including claims of mishandled customer disputes, misleading marketing and wrongful charges.
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October 22, 2024
Giuliani Must Give NYC Apartment, Watches To Poll Workers
A New York federal judge Tuesday ordered Rudy Giuliani to hand over most of his property to two Georgia poll workers, including his Manhattan apartment, Mercedes-Benz, luxury watches and valuable sports memorabilia, to help cover the $148 million judgment the former mayor owes for defaming them.
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October 22, 2024
Ex-Yale Student Wants Full Acquittal Record Sent To DHS
An expelled Yale University student on Tuesday urged the Second Circuit to quickly vacate orders barring him from giving the U.S. Department of Homeland Security an unredacted transcript that resulted in his acquittal of sex crimes, saying a delay could seal his deportation and thus his execution by the Taliban.
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October 22, 2024
Big Banks Say Yearslong Libor Suit Still Lacks Evidence
Bank of America, Merrill Lynch and more than a dozen other large banks have urged a federal judge to dismiss the remaining claims in multidistrict litigation accusing them of manipulating Libor, arguing that the plaintiffs have failed to bring sufficient evidence in the 13 years since they filed suit over the once-critical benchmark interest rate.
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October 22, 2024
'A Lot Of Nerve': Judge Slams Ex-Sparks Owners' Fee Claim
A California judge overseeing a suit by former Los Angeles Sparks basketball team co-owners claiming they're owed free game tickets for life said their argument that they also deserve attorney fees because the lawsuit serves the public interest is potentially frivolous, adding, "Somebody in my view has a lot of nerve."
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October 22, 2024
Israeli Intel VP Must Use Real Name In Bias Suit, Judge Says
A former Intel executive must reveal his name in his suit claiming the company fired him for complaining that his boss openly supported Hamas, a New York federal judge ruled Tuesday, finding concerns of retaliation from Hamas or anti-Israel protesters are too speculative to justify anonymity.
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October 22, 2024
NY Judge Trims HOA's Nuisance Suit Against Queens Stadium
A New York state court judge has pared a Forest Hills, Queens, homeowners association's nuisance suit against a local stadium owner accused of disturbing the neighborhood with lots of noise, traffic and crowds.
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October 22, 2024
Ivy League Athletes Plan To Appeal Antitrust Suit's Dismissal
A group of college athletes challenging the Ivy League's practice of prohibiting athletic scholarships told a Connecticut federal judge they plan to appeal the dismissal of their antitrust suit against Harvard and other top-tier universities.
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October 22, 2024
Buyers Drop Colgate-Palmolive Sunscreen False Ad Suit
Two women have agreed to drop a proposed class action that claimed Colgate-Palmolive Co. falsely claimed its sunscreen products' only active ingredient is a mineral-based component despite the products containing significant levels of chemical sunscreen ingredients.
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October 22, 2024
Morgan Stanley Investment Management Clinches $2B Fund
Morgan Stanley Investment Management, advised by Simpson Thacher & Bartlett LLP, on Tuesday announced that it wrapped its second tactical value fund and affiliated funds after securing roughly $2 billion of committed capital.
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October 22, 2024
BofA, Others Say Bond-Rigging Suit Still Can't Prove Conspiracy
Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co. and others have argued the amended complaint in a recently revived securities suit accusing them of conspiring to rig corporate bonds fails to adequately allege a "farfetched" antitrust conspiracy.
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October 22, 2024
Liquidators Of Cayman Investment Firm Seek Ch. 15
The liquidators of Cayman Islands-based investment firm Canterbury Securities have filed for Chapter 15 recognition in New York bankruptcy court on Monday, following a dispute with another firm over a $20 million share sale that Canterbury allegedly appropriated.
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October 22, 2024
Halkbank Not Immune In Sanctions Case, 2nd Circ. Says
The Second Circuit ruled Tuesday that Turkish state-owned bank Halkbank doesn't have common-law foreign sovereign immunity from charges that it laundered about $1 billion in sanctioned Iranian oil proceeds if the U.S. government's executive branch says it doesn't.
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October 22, 2024
Day Trader Seeks Early Win In Verifone Insider Trading Suit
A day trader moved for an early win in a U.S. Securities and Exchange Commission insider trading case alleging the trader was tipped off by a former Francisco Partners consultant about the firm's $3.4 billion purchase of Verifone Systems Inc., arguing there is no evidence that he knew he received material nonpublic information, let alone traded on it.
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October 22, 2024
Winston & Strawn Finance Pro Joins Mayer Brown In New York
Mayer Brown LLP announced that a longtime finance attorney at Winston & Strawn LLP has joined the firm's New York office as a partner in what it said is part of a strategic priority to expand its global leveraged finance and private credit platform.
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October 22, 2024
The 2024 Prestige Leaders
Check out our Prestige Leaders ranking, analysis and interactive graphics to see which firms stand out for their financial performance, attractiveness to attorneys and law students, ability to secure accolades and positive legal news media representation.
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October 22, 2024
How Law Firms Get And Keep Elite Status
For decades, a handful of New York-based law firms thoroughly dominated the national consciousness when it came to power, profitability and prestige. But in today's legal market, increased movement of partners and clients from one firm to the next has begun to shake things up and create opportunities for go-getters to ascend the ranks.
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October 22, 2024
Shake Shack Settles Massachusetts Child Labor Complaint
Shake Shack has agreed to pay $244,500 to settle allegations that it violated Massachusetts child labor laws, including failing to obtain work permits and allowing minors to work more than 48 hours in a week, the state attorney general announced Tuesday.
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October 22, 2024
Akin-Led Mubadala Capital Wraps 4th Fund At $3.1B
Abu Dhabi-based Mubadala Capital, advised by Akin Gump Strauss Hauer & Feld LLP, on Tuesday revealed that it clinched its fourth private equity fund after securing $3.1 billion of commitments from investors.
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October 22, 2024
Ex-Abercrombie CEO Charged With Sex Trafficking
Former Abercrombie & Fitch Co. CEO Mike Jeffries was indicted Tuesday on charges he ran an international sex trafficking and prostitution ring that abused male models who were led to believe their participation in sex parties would benefit their careers.
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October 22, 2024
Real Estate Exec Guilty Of $77M WeWork Stock Fraud
A Manhattan federal jury on Tuesday convicted the former CEO of real estate investment firm Arciterra for trying to manipulate the price of WeWork stock via a $77 million tender offer on the cusp of the office-sharing company's bankruptcy filing in late 2023.
Expert Analysis
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How Federal And State Microfiber Pollution Policy Is Evolving
Growing efforts to address synthetic microfiber pollution may create compliance and litigation issues for businesses in the textile and apparel industries, so companies should track developing federal and state legislation and regulation in this space, and should consider associated greenwashing risks, says Arie Feltman-Frank at Jenner & Block.
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Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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Opinion
It's Time To Defuse The Ticking Time Bomb Of US Landfills
After recent fires at landfills in Alabama and California sent toxic fumes into surrounding communities, it is clear that existing penalties for landfill mismanagement are insufficient — so policymakers must enact major changes to the way we dispose of solid waste, says Vineet Dubey at Custodio & Dubey.
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A Healthier Legal Industry Starts With Emotional Intelligence
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.
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To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.
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What Junk Fee Law Means For Biz In California And Beyond
Come July 1, companies doing business in California must ensure that the price of any good or service as offered, displayed or advertised is inclusive of all mandatory fees and other charges in compliance with S.B. 478, which may have a far-reaching impact across the country due to wide applicability, say Alexandria Ruiz and Amy Lally at Sidley Austin.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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Attys Beware 2 Commonly Overlooked NIL Contract Issues
As name, image and likeness deals dominate high school and collegiate sports, preserving a client's NCAA eligibility should be a top priority, so lawyers should understand the potentially damaging contract provisions they may encounter when reviewing an agreement, says Paula Nagarajan at Arnall Golden.
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NY Public Campaign Funding May Attract Scrutiny From Feds
The upcoming elections across New York this year will be the first under the state’s public campaign finance program — which may broaden federal prosecutors' purview to target state election fraud and corruption, says Jarrod Schaeffer at Abell Eskew.
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NY Ruling Paves A Court Payment Shortcut For More Creditors
A recent New York state appeals court ruling expands access to an expedited statutory procedure for court enforcement of promissory notes or unconditional guaranties, allowing more creditors to minimize the risk of potentially challenging litigation on threshold issues, says Alexander Levi at Friedman Kaplan.
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3 Recent Decisions To Note As Climate Litigation Heats Up
Three recent rulings on climate-related issues — from a New York federal court, a New York state court and an international tribunal, respectively — demonstrate both regulators' concern about climate change and the complexity of conflicting regulations in different jurisdictions, say J. Michael Showalter and Robert Middleton at ArentFox Schiff.
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Perspectives
Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.
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And Now A Word From The Panel: Watch The MDL Calendar
One of the most fascinating features of the Judicial Panel on Multidistrict Litigation's practice is the regularity of its calendar, which can illuminate important timing considerations, says Alan Rothman at Sidley.
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Opinion
NY Should Pass Litigation Funding Bill To Protect Plaintiffs
New York state should embrace the regulatory framework proposed in the Consumer Litigation Funding Act, which would suppress the unregulated predatory lenders that currently prey on vulnerable litigants but preserve a funding option that helps personal injury plaintiffs stand up to deep-pocketed corporate defendants, says Alan Ripka at Alan Ripka & Associates.
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Series
Playing Music Makes Me A Better Lawyer
My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.