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December 06, 2024
Justices To Decide If Terror Victim Law Violates Due Process
The U.S. Supreme Court agreed Friday to decide whether a 2019 law gives courts jurisdiction over the Palestinian Authority and Palestine Liberation Organization or conflicts with the Fifth Amendment's due process clause.
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December 06, 2024
Barclays Investors Get Initial OK For $19M Overissuance Deal
A New York federal judge Friday granted the first green light to a $19.5 million settlement for a class of investors who bought Barclays PLC securities and then claimed the banking giant misled them about its internal controls before selling more than $17.6 billion in securities over its maximum registered amount.
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December 06, 2024
Two Firms To Rep CVS Investors In Benefit Unit Losses Suit
Bernstein Litowitz Berger & Grossmann LLP and Bleichmar Fonti & Auld LLP will co-lead a proposed class of investors in consolidated litigation alleging CVS Health Corp. hurt investors as it announced its benefit unit's unanticipated losses.
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December 06, 2024
Merrill Lynch Can't Beat Stock Loan Class Cert. Bid
A New York federal judge on Friday overruled objections from Bank of America unit Merrill Lynch to certify a class of investors, with a slightly extended class period, in a suit alleging the financial institution colluded with other major banks to avoid modernizing the stock loan market.
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December 06, 2024
FTC Dems Tout Impact of Handbag Merger Win
The Federal Trade Commission's leader said a recent court ruling that led the owners of Coach and Michael Kors to abandon their planned $8.5 billion tie-up should make it easier to prove mergers hurt competition without needing to rely on expensive economic experts.
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December 06, 2024
FTX Says Three Arrows Can't Add $1.5B To Ch. 11 Claims
FTX is pushing back against efforts by liquidators for defunct cryptocurrency hedge fund Three Arrows Capital to add more than $1.5 billion to its claims in FTX's Chapter 11 case in Delaware bankruptcy court.
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December 06, 2024
Real Estate Recap: Valley National, Office Insights, Proptech
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including Valley National Bank's $925 million loan portfolio sale, takeaways from office sector activity in 2024, and one BigLaw firm's strategic bet on proptech.
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December 06, 2024
2 Accused Of Using Paper As Crime Front Get 2025 Trial Date
A Manhattan federal judge set a 2025 date Friday for former Epoch Times executive Weidong Guan to stand trial for allegedly using the newspaper as a front to launder $67 million of crime proceeds, following the extradition of a second defendant.
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December 06, 2024
Ga. Poll Workers Want 'Severe' Sanctions Against Giuliani
The two former Georgia election workers who won a $148 million defamation verdict against Rudy Giuliani have asked a federal judge to hold the former Donald Trump attorney in civil contempt and impose "severe" sanctions for his "willful flouting" and "blatant disregard" of court orders.
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December 06, 2024
House Poised To Take Up JUDGES Act As Some Dems Balk
A bipartisan bill to create more federal judgeships to meet increasing caseloads is on the House's schedule for next week, but its support from some Democrats appears to be waning.
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December 06, 2024
NY Judge Sanctioned For Ex Parte Convo In Divorce Case
A second state court judge has been sanctioned in an ethics flap over improper out-of-court communications in a contested divorce case involving a law firm run by a friend of his, the New York State Commission on Judicial Conduct announced this week.
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December 06, 2024
NYC Council OKs Mayor's Affordable Housing Plan
The New York City Council passed a package of zoning reforms designed to spur housing production, greenlighting Mayor Eric Adams' City of Yes for Housing Opportunity plan after the city and state agreed to earmark $5 billion in funding to accompany the zoning overhaul.
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December 06, 2024
OpenAI Unveils Plans To Ask JPML To Centralize IP Suits
OpenAI Inc. informed New York and California federal courts this week it plans to ask the Judicial Panel on Multidistrict Litigation to centralize eight copyright infringement and Digital Millennium Copyright Act lawsuits — including a proposed class action — brought by content creators and publishers.
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December 06, 2024
Off The Bench: Kyrie Irving Sued, Golf's New Transgender Ban
In this week's Off The Bench, the New York Knicks and Rangers sue the unknown masses of people selling counterfeit team gear, a therapist who put on a family retreat for Kyrie Irving sues him over the bill, and two major golf organizations block transgender players from women's tournaments.
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December 06, 2024
Taxation With Representation: Skadden, Gibson Dunn
In this week's Taxation With Representation, BlackRock buys HPS Investment Partners, TreeHouse Foods Inc. buys Harris Tea, Aya Healthcare acquires Cross Country Healthcare, and Bruin Capital launches a soccer representation business.
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December 06, 2024
Gordon Rees Adds Banking And Finance Partner In NY
Gordon Rees Scully Mansukhani LLP has hired a banking and finance group partner, who joins with more than 24 years of experience representing fund finance clients, banks and financial institutions, and hedge funds, the firm announced Wednesday.
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December 06, 2024
Longtime NYC Public Servant Confirmed To Lead Law Dept.
The New York City Council confirmed a longtime public servant as the 82nd corporation counsel after Mayor Eric Adams' previous pick to run the Law Department withdrew consideration following scrutiny from the same local lawmakers.
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December 05, 2024
Dunkin' Fruit-Named Drinks Have No Fruit, False Ad Suit Says
Dunkin' falsely markets its "Refresher" line of caffeinated beverages with names of specific fruits despite not containing any of the fruits, cheating consumers out of the "premium" fruit ingredients and their health benefits, alleges a new proposed false advertising class action filed Wednesday in New York federal court.
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December 05, 2024
Jane Street Ends Trade Secret Fight With Rival Investing Firm
Jane Street Group LLC and Millennium Management LLC have agreed to put to rest their trade secrets dispute over a proprietary trading strategy, according to a joint stipulation of dismissal filed Thursday in New York federal court.
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December 05, 2024
Internet Archive Won't Take E-Book Fair Use To Justices
The Internet Archive on Wednesday said it will not ask the U.S. Supreme Court to weigh in on whether its practice of distributing copyrighted e-books for free without permission from some of the world's biggest publishers is excused by the Copyright Act's fair use doctrine.
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December 05, 2024
IP Forecast: PTAB To Hear Pfizer Fight Over COVID-19 Patents
Pfizer heads to an administrative board at the U.S. Patent and Trademark Office next week to argue Moderna should not have been issued patents covering "a basic idea" like using mRNA to fight the COVID-19 virus. Here's a spotlight on that case — plus all the other major intellectual property matters on deck in the coming week.
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December 05, 2024
Man Cops To $3.5M 'Cryptojacking' Scam Against Cloud Cos.
A Nebraska man admitted on Thursday to running a so-called "cryptojacking" scheme to defraud two cloud computing services out of $3.5 million of resources that were used to mine $1 million in cryptocurrency, according to the U.S. Department of Justice.
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December 05, 2024
SolarEdge's CEO, CFO Can't Escape Securities Lawsuit
A New York federal judge ruled Wednesday that a proposed securities class action accusing SolarEdge Technologies Inc. of misrepresenting the demand for its solar energy products in Europe will go on against two of the company's top executives, saying investors adequately pled the executives knowingly misrepresented distributors' inventory levels.
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December 05, 2024
'Texas Two-Step,' Exec Bonus Bankruptcy Bills Reintroduced
Lawmakers in the U.S. Senate this week renewed efforts to pass two bankruptcy bills that would bolster rights for employees and crack down on the controversial use of so-called Texas two-step bankruptcies.
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December 05, 2024
Judge Recommends Axing Some Claims In X Severance Suit
A Delaware federal judge on Thursday recommended pruning of a 14-count suit filed by six former Twitter employees accusing the company now known as X and Elon Musk of contract breaches and other claims in connection with Musk's takeover of the social media giant in 2022.
Expert Analysis
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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.
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How Courts' Differing Views On Standing Affect PFAS Claims
Two recent opinions from New York federal courts — in Lurenz v. Coca-Cola, and Winans v. Ornua Foods North America — illustrate how pivotal the differing views on standing held by different courts will be for product liability litigation involving per- and polyfluoroalkyl substances, particularly consumer claims, say attorneys at Hollingsworth.
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E-Discovery Quarterly: Rulings On Hyperlinked Documents
Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.
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Loper Bright Limits Federal Agencies' Ability To Alter Course
The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.
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2nd Circ. Case Reinforces Need For Advance Notice Bylaws
The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.
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Motion To Transfer Venue Considerations For FCA Cases
Several recent decisions highlight the importance for practitioners of analyzing as early as possible whether a False Claims Act case warrants a change of venue, and understanding how courts weigh certain factors for defendants versus whistleblowers, say Ellen London at London & Stout, and Li Yu and Corey Lipton at DiCello Levitt.
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Series
Teaching Scuba Diving Makes Me A Better Lawyer
As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.
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SolarWinds Ruling Offers Cyber Incident Response Takeaways
The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.
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Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
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PE Firms Should Prepare For Increased False Claims Scrutiny
The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.
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NY Tax Talk: Triggers For Tax On Software-As-A-Service
Recent decisions by New York’s Tax Appeals Tribunal and Division of Tax Appeals, finding that services bundled with prewritten software were tangible property, provide insight into the features and customer interactions that render such products subject to New York sales tax, say Elizabeth Cha and Madison Ball at Eversheds Sutherland.
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Series
After Chevron: ERISA Challenges To Watch
The end of Chevron deference makes the outcome of Employee Retirement Income Security Act regulatory challenges more uncertain as courts become final arbiters of pending lawsuits about ESG investments, the definition of a fiduciary, unallocated pension forfeitures and discrimination in healthcare plans, says Evelyn Haralampu at Burns & Levinson.