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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.
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September 03, 2024
O'Melveny Hires Restructuring Partner From Willkie In NY
O'Melveny & Myers LLP on Tuesday announced the hiring of a partner at Willkie Farr & Gallagher LLP in New York for its corporate restructuring group.
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September 03, 2024
Bracewell Energy Ace Joins Willkie In New York
Willkie Farr & Gallagher LLP announced Tuesday that it has expanded its energy team by hiring a leading renewable energy and energy finance attorney as a partner in the firm's New York office.
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September 03, 2024
Kirkland Brings On Ex-Goldman Sachs Debt Finance Pro In NY
Kirkland & Ellis LLP said Tuesday it has added an experienced debt finance partner in New York who most recently worked as a managing director for Goldman Sachs, in the firm's latest move to bulk up its structured finance and structured private credit practice.
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September 03, 2024
Catching Up With Delaware's Chancery Court
Last week in Delaware's court of equity, an iconic rock band got a new member, former President Donald Trump's social media company escaped a contempt ruling, and litigation grew over Illumina Inc.'s $8 billion reacquisition of cancer-testing company Grail Inc. New cases touched on intellectual property, mergers, share transfers and dump trucks. In case you missed it, here's the latest from Delaware's Court of Chancery.
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September 03, 2024
Paul Weiss Adds Ex-Fried Frank Atty To Lead Fund Finance
Paul Weiss Rifkind Wharton & Garrison LLP has added an asset management specialist previously with Fried Frank Harris Shriver & Jacobson LLP as head of its fund finance group, the firm announced Tuesday.
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September 03, 2024
Founder Of Gibson Dunn Privacy Practice Joins McDermott
McDermott Will & Emery on Tuesday announced the firm added litigator Alexander Southwell, a former federal prosecutor who founded and co-led the privacy, cybersecurity and data innovation practice at Gibson Dunn & Crutcher LLP.
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September 03, 2024
Semnur Pharmaceuticals To Go Public Via $2.5B SPAC Merger
Paul Hastings LLP-advised Semnur Pharmaceuticals Inc. on Tuesday unveiled plans to go public via a merger with Winston & Strawn LLP-led blank check company Denali Capital Acquisition Corp. in a deal that gives the pharmaceutical company a pre-transaction equity value of $2.5 billion.
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September 03, 2024
Trump Loses Renewed Bid To Take Hush Money Case Federal
A New York federal court on Tuesday denied former President Donald Trump's bid to move the state's hush money case against him to federal court, ruling that the U.S. Supreme Court's July holding laying out grounds for immunity did not sway his opinion that the payments were "unofficial acts."
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September 03, 2024
Former Aide To NY Gov. Indicted On Foreign Agent Charges
A former aide to New York Gov. Kathy Hochul and ex-Gov. Andrew Cuomo was arrested Tuesday on allegations of secretly acting as an agent of China's government in a yearslong political conspiracy to promote the interests of the Chinese Communist Party and reap millions of dollars.
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August 30, 2024
Miami Gallery Sold Family $6M In Fake Warhols, Lawsuit Says
A new lawsuit accuses a Miami gallery of selling over $6 million in fake Andy Warhol paintings and stringing a family of amateur art collectors along with an elaborate ruse involving the lure of "below-market prices" and "fictitious" employees from the Warhol Foundation and a New York auction house.
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August 30, 2024
$100M Deal Finally Ends MoneyGram Unclaimed Property Fight
Delaware will be giving back more than $100 million from uncashed MoneyGram checks to the states where they were bought after finally reaching a settlement with 29 other states that took the matter all the way to the U.S. Supreme Court.
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August 30, 2024
Wheeling & Appealing: The Latest Must-Know Appellate Action
Appeals courts have awakened from summertime slumber and crammed their early autumn calendars with arguments of national significance, which Law360 previews in this edition of Wheeling & Appealing. We're also recapping August's top appellate decisions, exploring new polling about U.S. Supreme Court opinions and testing your knowledge of Fifth Circuit history.
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August 30, 2024
Real Estate Recap: RealPage, Vacancies, New Construction
Catch up on this week's key developments by state from Law360 Real Estate Authority — including interpretation of the RealPage antitrust suit, the latest on U.S. office vacancies and plans for a new Miami tower.
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August 30, 2024
New York Code Council, Officials Duck Natural Gas Ban Suit
A New York federal court dropped the New York Department of State, the New York State Fire Prevention and Building Code Council and several state officials from trade groups' challenge to the state's recent ban on natural gas in new construction.
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August 30, 2024
New York Magazine Reader Drops Suit Over Data Disclosures
A subscriber to New York magazine has voluntarily dropped a potential class action accusing the periodical's publisher of violating a Michigan consumer privacy law by wrongfully disclosing readers' data to third parties.
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August 30, 2024
Danish Gov't Pledges No Ponzi Analogies At $2.1B Tax Trial
The Danish tax authority won't compare pension funds, investors and attorneys it has accused of defrauding Denmark in a $2.1 billion tax refund scheme to a Ponzi scheme or infamous perpetrator Bernie Madoff, it said Friday in New York federal court.
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August 30, 2024
WWE Accuser's Discovery Bid Must Fail, Conn. Doctor Says
The woman accusing World Wrestling Entertainment Inc. and two former executives of sexual abuse and trafficking in Connecticut federal court should lose her separate but related bid for discovery against a celebrity doctor who treated her, the doctor has argued in a motion to dismiss the state court action.
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August 30, 2024
Door-Maker Demands $10M In Excess Insurance At 4th Circ.
A door manufacturer pressed the Fourth Circuit to force an insurer to hand over $10 million in excess coverage in connection with a $39.5 million shareholder settlement over alleged lies to investors, arguing Friday that the matter was unrelated to other litigation and counts as a separate claim.
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August 30, 2024
Business Process Co. Beats Class Status Bid In 401(k) Suit
A New York federal judge refused to grant class status to a group of workers who said that a business process outsourcing company failed to keep the costs of its 401(k) plan in check, ruling they didn't demonstrate that all plan participants had paid the same fees.
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August 30, 2024
NY Hemp Shops Seek Halt Of 'Military Style' Raids
A quintet of hemp product retailers have alleged that New York state and city officials unlawfully targeted their businesses as part of an effort to crack down on unregulated marijuana sellers.
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August 30, 2024
Favre Cites Palin-NYT In Push To Reverse Defamation Ruling
Attorneys for former NFL quarterback Brett Favre asked the Fifth Circuit to consider a recent ruling granting Sarah Palin a new libel trial against the New York Times when it considers reviving his case against fellow NFL great turned sports pundit Shannon Sharpe.
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August 30, 2024
Giuliani Pretends To Live In Fla. To Shield Condo, Suit Says
The Georgia election workers who secured a $148 million judgment against former New York Mayor Rudy Giuliani in D.C. federal court hit him with a new lawsuit Friday, saying he is "pretending" to live in Florida in "a brazen attempt to shield his luxury Palm Beach condo" from them.
Expert Analysis
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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.
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Risks Of Rejecting Hotel Mgmt. Agreements Via Bankruptcy
In recent years, hotel owners have paid a high price when they attempted to use bankruptcy proceedings to prematurely terminate their hotel management agreements, highlighting that other options may be preferable, say attorneys at Jenner & Block.
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Address Complainants Before They Become Whistleblowers
A New York federal court's dismissal of a whistleblower retaliation claim against HSBC Securities last month indicates that ignored complaints to management combined with financial incentives from regulators create the perfect conditions for a concerned and disgruntled employee to make the jump to federal whistleblower, say attorneys at Cooley.
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Perspectives
Justices' Forfeiture Ruling Resolves Nonexistent Split
The U.S. Supreme Court’s decision in McIntosh v. U.S., holding that a trial court’s failure to enter a preliminary criminal forfeiture order prior to sentencing doesn’t bar its entry later, is unusual in that it settles an issue on which the lower courts were not divided — but it may apply in certain forfeiture disputes, says Stefan Cassella at Asset Forfeiture Law.
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What Have We Learned In The Year Since Warhol?
In the almost year since the U.S. Supreme Court decided Andy Warhol Foundation v. Goldsmith, which was widely seen as potentially chilling to creative endeavors, seven subsequent decisions — while illuminating to some extent — do not indicate any trend toward a radical departure from prior precedents in fair use cases, says Jose Sariego at Bilzin Sumberg.
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The Practical Effects Of Justices' Arbitration Exemption Ruling
The U.S. Supreme Court's recent decision in Bissonnette v. LePage Bakeries, that a transportation worker need not work in the transportation industry to be exempt from the Federal Arbitration Act, may negatively affect employers' efforts to mitigate class action risk via arbitration agreement enforcement, say Charles Schoenwetter and Eric Olson at Bowman and Brooke.
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Binance Ruling Spotlights Muddled Post-Morrison Landscape
The Second Circuit's recent decision in Williams v. Binance highlights the judiciary's struggle to apply the U.S. Supreme Court's Morrison v. National Australia Bank ruling to digital assets, and illustrates how Morrison's territorial limits on the federal securities laws have become convoluted, say Andrew Rhys Davies and Jessica Lewis at WilmerHale.
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Sorting Circuit Split On Foreign Arbitration Treaty's Authority
A circuit court split over whether the New York Convention supersedes state law barring arbitration in certain disputes — a frequent issue in insurance matters — has left lower courts to rely on conflicting decisions, but the doctrine of self-executing treaties makes it clear that the convention overrules state law, says Gary Shaw at Pillsbury.