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August 01, 2024
R1 RCM Going Private In $8.9B Deal Steered By 4 Firms
TowerBrook Capital Partners and Clayton Dubilier & Rice have agreed to take R1 RCM Inc. private in a deal that values the healthcare-focused tech provider at about $8.9 billion, the company said in a Thursday announcement.
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August 01, 2024
Schumer And Senate Dem Bill Would Reverse Trump Immunity
Senate Majority Leader Chuck Schumer, D-N.Y., and more than 30 of his Democratic colleagues introduced a bill on Thursday to undo the U.S. Supreme Court's ruling that former President Donald Trump has immunity for official acts.
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July 31, 2024
Live Nation Says In-House Attys Can't Access DOJ Docs
As it warned would be the case, Live Nation is telling a New York federal judge that it has no in-house counsel that will be able to meet his rules on counsel access to highly confidential material in the U.S. Department of Justice's antitrust suit against the live events company.
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July 31, 2024
Guo Judge Wants To Know If $26.5M Mansion Will Be Safe
A Connecticut bankruptcy judge has ordered an alleged shell company to explain whether it will stop funding a security detail at an uninsured $26.5 million New Jersey mansion that federal prosecutors and a Chapter 11 trustee are eyeing as an asset that could reimburse a Chinese exile's creditors and fraud victims.
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July 31, 2024
HSBC Says HUD Has Closed Fair Lending Probe
HSBC's U.S. banking arm said it is no longer facing a multicity fair lending investigation from federal housing authorities after an outside complaint that prompted the probe was withdrawn.
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July 31, 2024
Trade Secrets Cases To Watch In 2024: A Midyear Report
A Virginia appellate court reversed a historic $2 billion trade secrets verdict in a closely watched case, and the Seventh Circuit emphasized that the federal trade secrets law applies to conduct abroad, expanding the damages landscape. Here are some of the most notable trade secrets cases to watch for the rest of 2024.
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July 31, 2024
9/11 MDL Judge Probes Saudi Arabia's Latest Exit Bid
A Manhattan federal judge peppered Saudi Arabia's lawyers with questions Wednesday as they argued that years of discovery have yielded no real evidence of a Saudi government spy helping organize the terrorist attacks of Sept. 11, 2001.
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July 31, 2024
Gov't Fights Doctor's Bid For New Trial In NBA Fraud Case
Federal prosecutors are urging a New York district judge to reject a request for a retrial from a Seattle doctor found guilty for his role in a vast NBA fraudulent healthcare scheme, arguing that it properly admitted its evidence at trial, and it was more than enough to support the guilty verdict.
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July 31, 2024
Senate Confirms State Judges To US District Courts In NY, PA
The Senate on Wednesday confirmed Judge Meredith Vacca to the Western District of New York and U.S. Magistrate Judge Joseph F. Saporito Jr. to the Middle District of Pennsylvania.
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July 31, 2024
SEC Asked For Public Tax Reporting By Group With $2.3T
The U.S. Securities and Exchange Commission was asked Wednesday to begin a rulemaking procedure to require public country-by-country reporting of tax by nearly 90 investment funds, labor unions, activists and others with combined assets over $2.3 trillion.
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July 31, 2024
Doc 'Muddle' Stalls Trump Media SPAC Figure's Ouster Suit
Pointing to multiple, conflicting operating agreement versions, a Delaware vice chancellor said she was unable to rule Wednesday on a suit to uphold dismissal of the managing member of a blank check company sponsor for the deal that took former President Donald Trump's social media company public.
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July 31, 2024
NYC Fraudster Gets Two Years For Crime Borne Of 'Nastiness'
A Manhattan federal judge sentenced a New York City woman to two years in prison Wednesday for stealing $290,000 from investors who backed her purported investment club, saying the defendant's criminal conduct, including threats to victims, was uncommonly callous.
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July 31, 2024
Pop-Up Malware Scammer Gets 7 Years For Duping Elderly
A Manhattan federal judge hit an Indian national with a seven-year prison sentence Wednesday after he admitted operating a malware call center that targeted over 6,000 victims with deceptive pop-up warnings and generated more than $6 million in criminal proceeds.
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July 31, 2024
Where Trump's 4 Criminal Cases Could Stand On Election Day
A landmark U.S. Supreme Court decision on presidential immunity, a dismissal order from a trial judge in Florida and scandal in Georgia threaten to derail state and federal criminal cases that had been moving full steam ahead against Donald Trump just a few months ago.
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July 31, 2024
Giuliani Strikes Fee Payment Deal For Ch. 11 Dismissal
Rudy Giuliani agreed to sell one of his multimillion-dollar homes to cover around $400,000 in administrative expenses that have held up dismissal of his Chapter 11 bankruptcy, the Republican firebrand and his creditors said in a letter sent Wednesday to a New York bankruptcy judge.
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July 31, 2024
Nader Slams Sullivan & Cromwell Over Protest Screenings
Consumer advocate and former presidential candidate Ralph Nader is among a trio of critics who wrote to Sullivan & Cromwell LLP this week to urge the BigLaw firm to reconsider its policy of screening job applicants for their participation in protests over the Israel-Hamas war.
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July 31, 2024
5 Trials To Watch In The 2nd Half Of 2024
Upcoming high-profile trials over star lawyer Tom Girardi's alleged fraud, Hunter Biden's taxes and Washington state's "patent troll" law are among the cases to watch in the latter half of the year.
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July 31, 2024
Ex-AUSA Joins Motley Rice Fraud Team From DiCello Levitt
Plaintiffs' firm Motley Rice LLC said Wednesday that it hired a former New York assistant U.S. attorney to support its efforts to protect whistleblowers who expose misconduct, fraud and deceptive trade practices.
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July 31, 2024
Cadwalader Can't Cloak Cyberattack Coverage Suit, Court Told
A Lloyd's of London syndicate wants to unseal a complaint by Cadwalader Wickersham & Taft LLP seeking coverage for a November 2022 data breach, saying it was never given a chance to oppose, and the firm otherwise failed to show why the suit should stay under wraps.
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July 31, 2024
Mercon Coffee's Ch. 11 Liquidation Plan Confirmed
A New York bankruptcy judge has confirmed the liquidation plan for coffee supplier Mercon Coffee Corp. after ruling earlier this month the company can't reward corporate insiders who stuck with it through its Chapter 11 case with a release from future litigation.
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July 31, 2024
Winston & Strawn Adds Chief Information Officer From Cooley
The longtime chief information officer at Cooley LLP has taken on the same role at Winston & Strawn LLP.
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July 31, 2024
BakerHostetler, Dechert Steer $2.3B CBIZ-Marcum Deal
Cleveland-based accounting firm CBIZ Inc. said Wednesday it has agreed to buy competitor Marcum in a $2.3 billion deal that will create the seventh-largest accounting services provider in the U.S.
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July 31, 2024
Biden's Latest Judicial Noms Include Ex-Congressman
President Joe Biden announced on Wednesday judicial nominees for district courts in New York, Georgia and Pennsylvania, one of whom is a former congressman.
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July 30, 2024
Guess, Macy's Settle IP Suit Over Artists' Graffiti Work
Guess Inc. and Macy's have settled a copyright action lodged by three prominent graffiti artists who accused the companies of exploiting their names and donning their work across T-shirts without permission, the parties told a California federal judge Tuesday.
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July 30, 2024
Patent Award 10 Times Higher Than Request Found Excessive
A New York federal judge Tuesday kept in place a jury's verdict holding that lighting fixture company Lutron Electronics Co. willfully infringed rival GeigTech East Bay's window shade patent, but said $34.6 million for damages is excessive and, instead, offered GeigTech $3.8 million or a new damages trial.
Expert Analysis
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Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law
A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.
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Intent-Based Theory Of Liability In Hwang Creates Ambiguity
A case against Archegos Capital founder Bill Hwang alleging that he participated in a securities manipulation scheme, which goes to trial next month in New York federal court, highlights the need for courts to clarify the legal standard defining "market manipulation," says Edward Imperatore at MoFo.
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Opinion
$175M Bond Refiled By Trump Is Still Substantively Flawed
The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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A Look At Recent Challenges To SEC's Settlement 'Gag Rule'
Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.
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Defense Attys Must Prep For Imminent AI Crime Enforcement
Given recent statements by U.S. Department of Justice officials, white collar practitioners should expect to encounter artificial intelligence in federal criminal enforcement in the near term, even in pending cases, say Jarrod Schaeffer and Scott Glicksman at Abell Eskew.
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2nd Circ. Ruling Clarifies When Demand Letters Are Claims
The Second Circuit’s decision last week in Pine Management v. Colony Insurance, affirming that an insurer had no obligation to defend an insured for claims made before the policy period, provides clarity on when presuit demands for relief constitute claims — an important issue that may be dispositive of coverage, says Bonnie Thompson at Lavin Rindner.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Opinion
The SEC Is Engaging In Regulation By Destruction
The U.S. Securities and Exchange Commission's recent use of regulation by enforcement against digital assets indicates it's more interested in causing harm to crypto companies than providing guidance to the markets or protecting investors, says J.W. Verret at George Mason University.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Studying NY, NJ Case Law On Employee Social Media Rights
While a New Jersey state appeals court has twice determined that an employee's termination by a private employer for social media posts is not prohibited, New York has yet to take a stand on the issue — so employers' decisions on such matters still need to be assessed on a case-by-case basis, say Julie Levinson Werner and Jessica Kriegsfeld at Lowenstein Sandler.
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ShapeShift Fine Epitomizes SEC's Crypto Policy, And Its Flaws
A recent U.S. Securities and Exchange Commission order imposing a fine on former cryptocurrency exchange ShapeShift for failing to register as a securities dealer showcases the SEC's regulation-by-enforcement approach, but the dissent by two commissioners raises valid concerns that the agency's embrace of ambiguity over clarity risks hampering the growth of the crypto economy, says Keith Blackman at Bracewell.
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2nd Circ. Adviser Liability Ruling May Shape SEC Enforcement
The Second Circuit’s recent decision in U.S. Securities and Exchange Commission v. Rashid, applying basic negligence principles to reverse a finding of investment adviser liability, provides a road map for future fraud enforcement proceedings, says Elisha Kobre at Bradley Arant.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.