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October 01, 2024
Paul Weiss Adds Former Apollo GC As NY Corporate Partner
A former partner and general counsel for the credit arm of Apollo Global Management is now a partner in Paul Weiss Rifkind Wharton & Garrison LLP's corporate department, the firm said Tuesday.
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October 01, 2024
Paul Weiss Guides OceanSound To $1.5B Sophomore Fund
Growth-oriented private equity firm OceanSound Partners, led by Paul Weiss Rifkind Wharton & Garrison LLP, on Tuesday announced it clinched its second fund with $1.49 billion of investor commitments, which will be used to invest in middle-market technology companies.
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October 01, 2024
Febreze Jingle IP Claim Doesn't Pass 2nd Circ. Smell Test
The Second Circuit on Tuesday rejected an appeal from a New York composer who claims Procter & Gamble's advertisement jingle for Febreze ripped off five notes from a song he wrote in the 1980s, saying those notes by themselves are not protectable under copyright law.
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October 01, 2024
PepsiCo Buying Siete In $1.2B Deal Steered By 3 Law Firms
PepsiCo said Tuesday it has agreed to buy Mexican-American food purveyor Siete Foods for $1.2 billion, with Gibson Dunn & Crutcher LLP steering the deal on PepsiCo's behalf and Weil Gotshal & Manges LLP and Armbrust & Brown PLLC advising Siete.
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October 01, 2024
When The Client Is The Mayor, The Usual Rules Don't Apply
Representing a public official, whether the mayor of New York City, a state legislator or a city council member, poses unique challenges for even the most experienced lawyers, who often find themselves torn between fighting battles in the press and protecting their client in court.
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October 01, 2024
Latham Helps TJC Clinch 2nd Continuation Fund At $2.1B
Latham & Watkins LLP-advised middle-market private equity firm TJC LP on Tuesday announced that it clinched its second continuation fund with $2.1 billion of investor commitments led by Carlyle subsidiary AlpInvest.
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October 01, 2024
Adams Says Feds Sought To 'Tarnish' Him With Leaks
New York City Mayor Eric Adams asked a Manhattan federal judge Tuesday to sanction Southern District prosecutors for allegedly leaking the details of a criminal investigation for nearly a year leading up to his corruption indictment, saying negative press has hurt his standing with the public and undermined his right to a fair trial.
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October 01, 2024
NYC Bar Urges Congress To Place Ethics Rules On High Court
The New York City Bar Association called on Congress to put U.S. Supreme Court justices under enforceable ethics rules in a report released Tuesday, throwing its support behind reforms, such as the creation of a Judicial Investigation Panel and an Office of the Inspector General.
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September 30, 2024
FTC's Amazon Monopolization Suit Partly Tossed, For Now
A Washington federal judge on Monday agreed to trim the Federal Trade Commission's landmark monopolization case against Amazon and split the trial into two parts, although the order itself remains sealed, according to an entry on the case docket.
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September 30, 2024
SEC Says Ex-Church & Dwight CEO Misled On Independence
The U.S. Securities and Exchange Commission said Monday that Church & Dwight Co.'s former CEO and chairman has agreed to settle claims that he had an undisclosed close friendship with a high-ranking company executive while serving as an independent director of the maker of the Arm & Hammer brand and other consumer products.
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September 30, 2024
Takeda End Payors, Direct Buyers Win Antitrust Class Cert.
A New York federal judge Monday adopted a magistrate judge's recommendation to certify two classes of direct purchasers and end payors in consolidated antitrust actions accusing Takeda Pharmaceuticals Co. of unlawfully inflating the price of its diabetes treatment Actos by delaying entry of generic alternatives.
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September 30, 2024
Consumer 'Overslept' On Some Drowsy Cough Syrup Claims
An Illinois federal judge said Monday a consumer can continue her suit alleging Tussin cough syrup's "non-drowsy" label is deceptive because the syrup made her sleepy, but ruled she waited too long to pursue warranty breach claims.
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September 30, 2024
Bristol-Myers Beats Celgene Investors' Drug Delay Suit
A New York federal judge on Monday tossed UMB Bank's claims that Bristol-Myers Squibb improperly delayed U.S. Food and Drug Administration approval of a cancer treatment to avoid paying shareholders $6.4 billion owed from a 2019 acquisition of Celgene Corp., saying the bank lacked standing to sue.
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September 30, 2024
Plane Parts Exec Loses Appeal In Honeywell Fraud Case
The Second Circuit refused Monday to free the president of an airplane parts supplier from a seven-year prison sentence over a $15 million fraud on Honeywell International Inc., rejecting his protest over evidence admitted for consciousness of guilt.
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September 30, 2024
Sean Combs To Appeal Bail Denial, Bolsters Legal Team
Sean "Diddy" Combs is appealing a Manhattan federal judge's decision to deny him bail in a criminal case accusing the hip-hop mogul of sex trafficking and has bolstered his legal team, according to filings Monday in the U.S. District Court for the Southern District of New York.
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September 30, 2024
US Trustee Says Reed Smith Didn't Disclose Eletson Ties
The U.S. Trustee's Office is asking a New York bankruptcy judge to claw back the fees and expenses law firm Reed Smith LLP has earned representing shipping firm Eletson Holdings in its Chapter 11 case, saying it failed to disclose ties with Eletson directors.
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September 30, 2024
DC Judge Won't Allow Single Trial In Admiral's Bribery Case
A D.C. federal judge Monday denied the government's motion to reconsider a decision severing a retired Navy admiral's bribery trial from that of the defense contractors he is accused of steering federal contracts toward, reiterating a previous ruling that the court can split the case if consolidation appears to prejudice the parties.
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September 30, 2024
Big Banks Get Brazilian Pollution Suit Booted From NY
A New York federal judge on Monday dismissed an effort by a Brazilian city and residents to hold several big banks liable for allegedly financing environmentally ruinous mining operations in their region, ruling the matter would be more appropriately heard in Brazil.
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September 30, 2024
SEC Says Accountant Aided Tingo Group's Fintech Fraud
The U.S. Securities and Exchange Commission on Monday sued a Nigerian accounting firm for allegedly helping the operator of the Tingo fintech businesses conceal fake audit reports that inflated the value of the firms to further the "massive" fintech fraud.
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September 30, 2024
Chancery Sidelines Squarespace Merger Doc Suit For Now
A Delaware Court of Chancery action to compel stockholder access to website builder Squarespace Inc.'s corporate records remained under a stay Monday, after a court finding that the suit aimed to preserve future review rights focused on a proposed $7.2 billion company take-private deal.
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September 30, 2024
AGs, Academics Back Media Giants In Sports Streaming Fight
ESPN, Fox and Warner Bros. have picked up allies in their push to move ahead with a "sports-first" broadcasting service, with six state attorneys general and a host of respected economics professors urging the Second Circuit to undo a New York court order that blocked the service's launch.
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September 30, 2024
Morgan Stanley Investment Arm Nabs $750M For Climate Fund
Morgan Stanley's investment management arm revealed Monday that its climate private equity fund, which is focused on investing in North American and European companies working to avoid or remove one gigaton of carbon dioxide-equivalent emissions from the atmosphere, closed at $750 million of equity capital commitments.
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September 30, 2024
4 Firms Guide Verizon's $3.3B Wireless Comms Towers Sale
Verizon has sold 6,339 wireless communications towers to a communications-focused real estate investment trust for $3.3 billion in a deal guided by Jones Day, Greenberg Traurig, Simpson Thacher and Mayer Brown, Verizon announced Monday.
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September 30, 2024
Leon Black Can't Duck Sex Assault Suit Or Sanction Wigdor
Ex-Apollo Global Management CEO Leon Black cannot dodge a lawsuit accusing him of raping an autistic teenager in 2002, as New York City's extension of the time limit to file the suit is not preempted by state law, a New York federal judge has ruled.
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September 30, 2024
Atty Accused Of Trying To Win Back Client With Loan
The Law Offices of Michael S. Lamonsoff PLLC, a New York personal injury firm, has accused competitor Harmon Linder & Rogowsky of offering a former client a loan after learning they were being booted as counsel.
Expert Analysis
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 36 different rulemaking and litigation areas.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Antitrust In Retail: The Meaning Of 'Accessible Luxury'
In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.
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Series
NY Banking Brief: All The Notable Legal Updates In Q2
The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.
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Perspectives
NY Chief Judge Spotlights Need To Strengthen Public Defense
In a recent concurrence in People v. Watkins, New York Chief Judge Rowan Wilson called attention to the necessity for greater investment in public defense services, highlighting not only the urgency of current crises, but the need to embrace a more ambitious vision of equal right to counsel, says Corey Stoughton at Selendy Gay.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Fair Use Doctrine Faces Challenges In The Generative AI Era
As courts struggle to apply existing copyright principles to new, digital contexts, the evolving capabilities of AI technologies are testing the limits of traditional frameworks, with the fair use doctrine being met with significant challenges, says John Poulos at Norton Rose.
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Lower Courts May Finally Be Getting The Memo After Ciminelli
A year after the U.S. Supreme Court again limited prosecutors' overbroad theories of fraud in Ciminelli v. U.S., early returns suggest that the message has at least partially landed with the lower courts, spotlighting lessons for defense counsel moving forward, says Kenneth Notter at MoloLamken.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Big Banks Face Potential Broader Recovery Plan Rules
The Office of the Comptroller of the Currency's recent call for potentially subjecting more banks to recovery planning standards would represent a significant expansion of the scope of the recovery guidelines, and banks that would be affected should assess whether they’re prepared, say attorneys at Debevoise.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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What Companies Should Consider Amid Multistate AG Actions
The rise of multistate attorney general actions is characterized by increased collaboration and heightened scrutiny across various industries — including Big Tech and gaming — and though coalitions present challenges for targeted companies, they also offer opportunities for streamlined resolutions and coordinated public relations efforts, say attorneys at Cozen O'Connor.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.