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January 08, 2025
NY Fed Beats Puerto Rico Bank's Suit Over Master Account
A New York federal judge on Wednesday tossed without prejudice a Puerto Rico bank's suit that sought to block the closure of its Federal Reserve master account, finding the New York Fed's interpretation of the Federal Reserve Act was correct and that the bank does not have a statutory right to a master account.
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January 08, 2025
JPMorgan Gets Early Win In Ex-Worker's Benefits Freeze Suit
A New York federal judge handed JPMorgan an early win Wednesday in an ex-worker's suit alleging the bank failed to properly disclose changes to an employee pension plan, finding the dispute was barred by a claim release the plaintiff signed in exchange for severance.
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January 08, 2025
Edward Jones Fined $17M Over Customer Transition Fees
Edward Jones has agreed to pay $17 million to end an investigation into alleged supervisory failures that may have led it to overcharge customers who transitioned from its brokerage division to its advisory division, state regulators announced Wednesday.
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January 08, 2025
Shkreli Wants Wu-Tang To Weigh In On Crypto Album Fight
Martin Shkreli told a Brooklyn federal judge that the writer and producer of the one-of-a-kind Wu-Tang Clan album should weigh in on their rights to the work as the crypto project that purchased the album presses ahead with a suit accusing the pharma bro of keeping copies of the album after he was ordered to give them up.
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January 08, 2025
Atty Wants Sanctions Mention Axed In NFL Merch Case
An attorney representing himself in a lawsuit seeking a court order saying he is allowed to sell unlicensed NFL merchandise took exception with a federal judge's suggestion that the league's merchandising arm may want to move for sanctions.
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January 08, 2025
Reed Smith Accused Of 'Causing Chaos' In $102M Award Fight
The new owners of reorganized international shipping group Eletson Holdings are continuing their battle with the company's former owners and their counsel at Reed Smith in litigation over a $102 million arbitral award, alleging the BigLaw firm's "obstructionist conduct" is "causing chaos."
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January 08, 2025
Pension Plan Official's Estate Excused From Danish Tax Suit
A New York federal court approved Wednesday an agreement for Denmark's tax authority to settle its claims against the estate of a pension plan official whose plan allegedly defrauded the agency out of $9 million.
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January 08, 2025
Jay-Z Wants Sanctions Against Buzbee In Diddy Rape Suit
Rapper Jay-Z asked Wednesday that Texas attorney Tony Buzbee be sanctioned for filing a lawsuit accusing him and embattled rapper Sean "Diddy" Combs of raping a 13-year-old girl, claiming inconsistencies in the girl's story show Buzbee "knowingly filed a false complaint."
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January 08, 2025
Becker Acquires Anderson & Ochs In NYC, Adding 3 Partners
Florida-headquartered mid-size law firm Becker & Poliakoff PC has acquired New York boutique Anderson & Ochs LLP and is adding three partners with experience in representing cooperatives, condominiums and homeowners' associations.
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January 08, 2025
Criminal Case Against Terraform Founder Said To Exceed SEC's
The $40 billion criminal case against Terraform founder Do Kwon contains evidence such as recordings and seized mobile phones that exceed what securities regulators presented when they prevailed against him at a civil fraud trial, prosecutors said Wednesday.
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January 08, 2025
2nd Circ. Backs NYC Hospital In Retirement Plan Fee Suit
The Second Circuit refused Wednesday to reopen a proposed class action claiming Montefiore Medical Center allowed its employee retirement plan to be saddled with excessive recordkeeping fees, saying the workers leading the suit failed to show the plan paid too much for the services it received.
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January 08, 2025
Scarinci & Hollenbeck Taps Ex-DA To Lead Litigation Group
Scarinci & Hollenbeck LLC announced Wednesday it has tapped a former Kings County, New York, assistant district attorney, who joined the firm from Bressler Amery & Ross PC last year, to lead its litigation department in New York and New Jersey, where the firm has recently expanded its reach.
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January 08, 2025
Arbitrator In Virus Coverage Case Wasn't Biased, Panel Says
A New York state appeals panel affirmed a trial court's decision refusing to disqualify a Pillsbury Winthrop Shaw Pittman LLP partner as an arbitrator in proceedings between a Zurich unit and the operator of Saks Fifth Avenue over coverage for COVID-19 losses.
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January 08, 2025
Feds Again Deny Leaks In NYC Mayor's Corruption Case
Federal prosecutors again rejected the claim that they had leaked classified information about New York City Mayor Eric Adams' corruption case to the press, telling a judge that they were not the source that allowed the New York Times to identify a grand jury witness and that Adams hadn't shown how he was prejudiced by the disclosure.
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January 08, 2025
Mortgage Cos. Fined $20M Over Cybersecurity Breach
Bayview Asset Management LLC and three affiliates on Wednesday agreed to pay a $20 million fine and improve their cybersecurity programs to settle allegations from 53 state financial regulators that the mortgage companies had deficient cybersecurity practices and didn't fully cooperate with regulators after a 2021 data breach.
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January 08, 2025
Trump Asks Supreme Court To Stop NY Sentencing
Donald Trump asked the U.S. Supreme Court on Wednesday to halt proceedings in his New York criminal hush money case, including a sentencing hearing scheduled for Friday, as the president-elect seeks to throw out the charges and the jury's conviction.
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January 07, 2025
DOJ Watchdog Criticizes Trump Officials For COVID Leaks
The U.S. Department of Justice's Office of the Inspector General has found that senior Justice Department officials under the first Trump administration improperly leaked information about investigations into COVID-19 deaths in states run by Democrats shortly before the 2020 presidential election, according to a report posted Tuesday.
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January 07, 2025
Feds Say Adams' Bid For Indictment Info Would Hinder Probe
New York City Mayor Eric Adams is not entitled to more details about the charges in his corruption and bribery case, including the identities of alleged co-conspirators, federal prosecutors told a Manhattan federal court Monday, arguing that such information would prejudice the ongoing investigation and potentially lead to witness tampering.
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January 07, 2025
DLA Piper Adds Ex-Verizon GC As Telecom Partner
DLA Piper is boosting its global telecom practice with a new partner at its New York office who joins after serving as Verizon Business' senior vice president and general counsel, the firm announced Tuesday.
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January 07, 2025
Gig Worker Co. Handy To Refund $3M In FTC, NYAG Settlement
Gig economy company Handy Technologies Inc. has agreed to return nearly $3 million to workers who used the platform, in a settlement with the Federal Trade Commission and the New York Attorney General's Office to resolve claims that the company misled workers about how much they could expect to earn through its services.
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January 07, 2025
What To Know About Joe Nocella, Trump's EDNY Top Cop Pick
While few were expecting President-elect Donald Trump to select Nassau County District Judge Joseph Nocella as the next U.S. attorney for the Eastern District of New York, ex-prosecutors in the office and his former colleagues say he has the requisite experience and integrity for the job.
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January 07, 2025
2nd Circ. Denies BDO Second Shot At AmTrust Appeal
The Second Circuit Tuesday denied BDO USA LLP's request for a rehearing of an appellate panel's decision not to overturn a suit brought by AmTrust Financial Services Inc. that alleged the auditor did a poor job reviewing the insurer's financial statements.
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January 07, 2025
NFT Buyers Can't Sue Over Market Fluctuations, Gallery Says
A Metaverse-based art collection club has urged a federal judge to dismiss a fraud suit brought by investors claiming it lied about the benefits of investing in its members-only NFT opportunity, arguing that the alleged losses aren't attributable to anything other than market fluctuations and that New York's consumer protection laws do not protect out-of-state investors.
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January 07, 2025
Liskow & Lewis Opens NY Office And Expands Maritime Team
Liskow & Lewis APLC, a Gulf Coast-based firm focusing on matters in the energy sector, has opened an office in New York City and hired two new shareholders to lead the firm's maritime practice in New York.
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January 07, 2025
Coinbase Judge Sends Crypto's Howey Question To 2nd Circ.
A New York federal judge Tuesday waved through a request from Coinbase to have the Second Circuit weigh in on whether the cryptocurrency transactions on its platform are investment contracts, putting the U.S. Securities and Exchange Commission's ongoing registration suit against the crypto exchange on ice for now.
Expert Analysis
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Service Providers Must Mitigate 'Secondary Target' Risks
A lawsuit recently filed in an Illinois federal court against marketing agency Publicis over its work for opioid manufacturers highlights an uptick in litigation against professional service providers hired by clients that engaged in alleged misconduct — so potential targets of such suits should be sure to conduct proper risk analysis and mitigation, say attorneys at Dechert.
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2nd Circ. AmTrust Decision Shows Audit Reports Still Matter
Though the Second Circuit eventually found on reconsidering a case over the high-profile accounting meltdown at AmTrust that audit reports are material to investors, its previous contrary holding highlights the seriousness of the ongoing crisis of confidence in the audit report, say attorneys at Bernstein Litowitz.
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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9th Circ.'s High Bar May Limit Keyword Confusion TM Claims
A recent Ninth Circuit ruling that a law firm did not infringe upon a competitor’s trademarks by paying Google to promote its website when users searched for the rival’s name signals that plaintiffs likely can no longer win infringement suits by claiming competitive keyword advertising confuses internet-savvy consumers, say attorneys at Mitchell Silberberg.
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Post-Election Implications For The EPA's Methane Rules
Amid the U.S. Supreme Court's recent denial of requests to halt implementation of the U.S. Environmental Protection Agency's methane rule in two suits, and given the outcome of the election, a complete reversal of the methane rule is expected, but state-level policymaking and enforcement will continue, says John Watson at Spencer Fane.
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Mitigating Defamation Liability Risks Of AI-Generated Content
Until Congress and the courts provide clear guidance about defamation liability stemming from generative artificial intelligence tools, companies should begin building controls to prevent the creation of defamatory content, says Michael Gerrity at Accenture.
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Series
Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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How D&O Coverage Can Aid Against Increased AI Scrutiny
The recent increase in regulatory enforcement and securities class actions stemming from corporate use of artificial intelligence should prompt companies to ensure that their directors and officers liability insurance coverage is appropriately tailored to AI-related risks, say attorneys at Reed Smith.
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Recent Listeria Outbreaks Hold Key Compliance Lessons
Listeria outbreaks in ready-to-eat foods from Boar's Head and other companies, and the U.S. Department of Agriculture and U.S. Food and Drug Administration responses to these outbreaks, should be closely evaluated from an overall compliance and risk management perspective by food manufacturers, retailers and industry investors, say attorneys at Kirkland.
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Purse-Case Scenarios: 'MetaBirkin' Appeal Tests TM Rights
A federal court's finding that "MetaBirkin" nonfungible tokens infringed on Hermes' iconic Birkin bag imagery is now on appeal in the Second Circuit, and the order will have a lasting effect on how courts balance trademark rights and the First Amendment, say attorneys at Venable.
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3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive training sessions, say Stacey Schwartz at Katten, Diane Costigan at Winston & Strawn and Lauren Tierney at Freshfields.
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Expect Surging Oil And Gas Industry Under New Trump Admin
Throughout his recent campaign, President-elect Donald Trump promised increased oil and natural gas production and reduced reliance on renewables — and his administration will likely bring more oil and gas dealmaking, faster federal permitting and attempts to roll back incentives for green energy, say attorneys at Sidley.
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The Bar Needs More Clarity On The Discovery Objection Rule
Almost 10 years after Federal Rule of Civil Procedure 34 was amended, attorneys still seem confused about what they should include in objections to discovery requests, and until the rules committee provides additional clarity, practitioners must beware the steep costs of noncompliance, says Tristan Ellis at Shanies Law Office.
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Trump Faces Uphill Battle If He Tries To Target Prosecutors
On the campaign trail, President-elect Donald Trump promised to go after the state and federal prosecutors who had investigated and prosecuted him, but few criminal statutes would be applicable — to say nothing of the evidence required to substantiate any charges against prosecutors, says William Johnston at Bird Marella.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.