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June 26, 2024
NC Bar Rips Immigration Atty's 'Absurd' Disbarment Appeal
The North Carolina State Bar urged a state appellate court not to entertain an immigration attorney's appeal of his disbarment, stating that his appeal featured arguments that came too late and otherwise relied on a fallacious and "incoherent" reading of disciplinary regulations with "absurd results."
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June 26, 2024
Nelson Mullins' Real Estate Capital Markets Team Gains Atty
Nelson Mullins Riley & Scarborough LLP is continuing to expand its real estate capital markets group, announcing Tuesday that it has added a longtime Sidley Austin LLP attorney.
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June 26, 2024
Whole Foods Resolves Time-Shaving Class Action
Whole Foods has resolved a proposed class action alleging the grocer trimmed workers' paychecks if they came back slightly late from breaks.
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June 26, 2024
A Picture Of Office Sector Distress
This five-part series from Law360 Real Estate Authority explores distressed office buildings in Chicago, San Francisco, Miami, Dallas and New York City in an illustration of how the stressors facing the asset class are playing out across the country.
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June 26, 2024
Archegos Duo Won't Testify In $36B Market Distortion Trial
The founder of Archegos and its former chief financial officer will not take the stand in their trial on charges they orchestrated a massive campaign to manipulate Wall Street stock prices, the pair told a Manhattan federal judge Wednesday.
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June 25, 2024
Bank Groups Rip CFPB Stance On Wire Rules In NY's Citi Suit
Banking trade groups have slammed the Consumer Financial Protection Bureau for backing the New York attorney general's office in a lawsuit over Citibank's handling of online wire fraud claims, arguing the agency's support for a key legal position in the case marks a "complete reversal" from its past views.
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June 25, 2024
Coffee Chain Dutch Bros Beats Investor Suit For Good
A New York federal judge has dismissed with prejudice a suit alleging drive-through coffee chain Dutch Bros and two of its executives weren't honest with investors about the impact inflation was having on the company after its 2021 initial public offering, saying the shareholders have failed to plead any actionable misstatements or omissions.
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June 25, 2024
SEC Accuses Ex-CEOs Of Duping Market In $138M Offering
The U.S. Securities and Exchange Commission on Tuesday reached a $1 million deal with a company allegedly involved in a market manipulation scheme and also brought claims against the two former CEOs who allegedly led the scheme, which fraudulently raised $137.5 million from investors, according to the regulator.
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June 25, 2024
Ralph Lauren Sued Over Fake Discount Prices On Outlet Items
Ralph Lauren advertises sham reference prices for merchandise sold at its Polo Factory outlets that purport to provide customers with significant discounts, which misleads them into believing the merchandise was initially sold at much higher prices, according to a proposed class action filed Tuesday in New York federal court.
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June 25, 2024
FTX Gets OK To Seek Creditor Votes On Ch. 11 Plan
Bankrupt cryptocurrency exchange FTX Trading Ltd. can seek creditor votes for its Chapter 11 plan after a Delaware bankruptcy judge said he would approve the debtor's disclosures after overruling several objections.
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June 25, 2024
NY Judge Rejects Visa, Mastercard Fee Deal
A New York federal judge handling multidistrict litigation over Visa and Mastercard merchant fees rejected a proposed settlement for equitable relief and recommended a case from Grubhub be sent back to Illinois, making good on a suggestion she shared at a previous hearing.
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June 25, 2024
Hedge Fund Exec Avoids Prison After Forex-Rigging Trial
The founder of U.K.-based Glen Point Capital on Tuesday was spared prison time following his conviction at trial for unlawfully manipulating the foreign exchange market in order to secure a $20 million payout for the hedge fund.
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June 25, 2024
Man Convicted Of Crypto-Motivated Break-Ins, Kidnappings
A Florida man was convicted Tuesday in North Carolina federal court of leading a robbery crew that broke into people's homes, kidnapped them and stole Bitcoin and other cryptocurrency.
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June 25, 2024
Man Posed As Atty To Scam Clients For Fees, Feds Say
A Long Island man has been charged with posing as an attorney after he represented federal criminal defendants to fraudulently collect fees from them and their family members.
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June 25, 2024
2nd Circ. Affirms 5-Year Sentence For Impostor Immigration Atty
A Connecticut woman sentenced to five years in federal prison for stealing money from vulnerable victims by pretending to be an immigration attorney can't undo her plea deal or lessen the roughly $368,000 she was ordered to pay in restitution, the Second Circuit has ruled.
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June 25, 2024
UK Billionaire's Pilot Avoids Prison For Insider Trading
A Manhattan federal judge sentenced a former private jet pilot to house arrest Tuesday for insider trading on stock tips from his billionaire boss Joe Lewis, finding that a prison term would be unfair in comparison to Lewis' non-incarceratory sentence.
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June 25, 2024
Lye Buyers Can't Get Court OK For $38.5M Antitrust Deals
A federal judge in Buffalo has rejected three settlements totaling $38.5 million for a proposed class of lye purchasers who alleged producers of the chemical colluded to inflate prices, ruling exceptions to who qualifies for the class make it impossible to determine membership.
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June 25, 2024
Lewis Baach Says Chrysler Building Landlord Bilked The Firm
International boutique Lewis Baach Kaufmann Middlemiss PLLC has sued the landlord for its former office space in the Chrysler Building in New York state court, saying RFR Holding LLC is refusing to return its $275,000 security deposit.
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June 25, 2024
NY Judge Partially Lifts Trump Gag Order Ahead Of Sentence
The Manhattan judge overseeing former President Donald Trump's hush-money case on Tuesday vacated key parts of a gag order intended to shield jurors and witnesses from his verbal attacks, although an order protecting the jurors' identities remains in place.
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June 25, 2024
Troutman Pepper Gets Restructuring Pro From Sidley Austin
Troutman Pepper Hamilton Sanders LLP has hired a seasoned attorney for its finance and restructuring practice who previously worked at Sidley Austin LLP for more than 20 years.
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June 24, 2024
Menendez Was 'Weird' While Planning Egypt Trip, Jury Hears
A New York federal jury weighing charges that U.S. Sen. Robert Menendez took bribes for official acts related to Egypt heard Monday from a congressional staffer that the senator acted "weird" while planning an official trip there and was "making up lies."
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June 24, 2024
NYC Pharmacy Owners Get Jail Time For $18M Med Fraud
Two brothers who own several New York pharmacies will each have to pay over $18 million in restitution in addition to serving jail time for submitting fraudulent claims to Medicare for pricey cancer medication and funneling illicit proceeds through several shell companies, the U.S. Department of Justice announced Monday.
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June 24, 2024
AI Cos. Hit With Copyright Claims From Music Labels
Two artificial intelligence startups are facing copyright litigation by Sony Music Entertainment and a group of major record labels, claiming they rip off artists' songs without getting consent.
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June 24, 2024
CFTC Says Gemini Can't 'Heighten Burden' Over Omissions
The Commodity Futures Trading Commission has urged a New York federal judge to grant it a pretrial win on claims cryptocurrency exchange Gemini provided incomplete information that misled the regulator on a proposed bitcoin futures contract, arguing Gemini's defense is nothing but a "convoluted exercise in avoidance."
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June 24, 2024
Doctor Left Text Trail Describing NBA Fraud Scheme, Jury Told
Prosecutors told a Manhattan federal jury that a Seattle medical professional sent a series of text messages detailing a plan to submit fraudulent claims to an NBA healthcare plan to obtain payouts, kicking off a second trial over the alleged scheme.
Expert Analysis
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A Look At Ex Parte Seizures 8 Years Post-DTSA
In the eight years since the Defend Trade Secrets Act was enacted, not much has changed for jurisprudence on ex parte seizures, but a few seminal rulings show that there still isn’t a bright line on what qualifies as extraordinary circumstances warranting a seizure, say attorneys at Finnegan.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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The Shifting Landscape Of Physician Disciplinary Proceedings
Though hospitals have historically been able to terminate doctors' medical staff privileges without fear of court interference, recent case law has demonstrated that the tides are turning, especially when there is evidence of unlawful motivations, say Dylan Newton and Michael Horn at Archer & Greiner.
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Oracle Ruling Underscores Trend Of Mootness Fee Denials
The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.
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An NYDFS-Regulated Bank's Guide To Proper Internal Audits
As certification deadlines for compliance with the New York State Department of Financial Services’ transaction monitoring and cybersecurity regulations loom, lawyers should remember that the NYDFS offers no leeway for best efforts — and should ensure robust auditing and recordkeeping processes for clients, say attorneys at Arnall Golden.
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Blocked JetBlue-Spirit Deal Illustrates New Antitrust Approach
The U.S. Department of Justice’s recent successful block of a merger between JetBlue Airways and Spirit Airlines demonstrates antitrust enforcers’ updated and disparate approach to out-of-market benefits versus out-of-market harms, say Lisa Rumin and Anthony Ferrara at McDermott.
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What Minority Biz Law Ruling Could Mean For Private DEI
A Texas federal court’s recent decision to strike down key provisions of the Minority Business Development Act illustrates the wide-reaching effects of the U.S. Supreme Court's 2023 Students for Fair Admissions v. Harvard decision across legal contexts, say attorneys at Jenner & Block.
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Series
NY Banking Brief: All The Notable Legal Updates In Q1
The first quarter of 2024 saw a number of notable legal and regulatory developments that will significantly affect New York's financial services industry, including the New York Department of Financial Services' finalized novel guidance directing banks to continuously monitor the character and fitness of key personnel, say Brian Montgomery and Nathan Lewko at Pillsbury.
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Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues
Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.
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What Bankruptcy Deadline Appeal May Mean For Claimants
If the Third Circuit reverses a recent appeal made in In re: Promise Healthcare, litigation claimants within the circuit will not be able to rely on the proof of claim process to preserve the claim — but if the court affirms, the U.S. Supreme Court may need to step in to resolve the circuit split on this issue, say attorneys at DLA Piper.
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Practicing Law With Parkinson's Disease
This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.
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When Trade Secret Protection And Nat'l Security Converge
The Trump administration's anti-espionage program focused on China is over, but federal enforcement efforts to protect trade secrets and U.S. national security continue, and companies doing business in high-risk jurisdictions need to maintain their compliance programs to avoid the risk of being caught in the crosshairs of an investigation, say attorneys at Baker McKenzie.
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Strategies For Defense Attys To Subpoena A Nonparty Witness
Federal criminal defendants seeking to subpoena potentially exculpatory information from nonparty witnesses must satisfy a stringent standard and should consider several often overlooked arguments to assure courts they’re not engaging in a fishing expedition, says James Roberts at Schlam Stone.
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Series
Playing Hockey Makes Me A Better Lawyer
Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.