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Real Estate
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October 15, 2024
Simpson Thacher, Milbank Guide $2B DataBank Equity Raise
Data center developer and operator DataBank announced on Tuesday it has raised $2 billion in equity, led by AustralianSuper's $1.5 billion commitment, in an investment round arranged by Simpson Thacher and Milbank.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
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October 15, 2024
Justices Reject Homebuilder Case Over Minn. Fee Scale
The U.S. Supreme Court has refused to hear claims from a homebuilders' trade group that a court failed to consider whether "valuation-based" permit fees that scale higher for more expensive projects should match the support two Minneapolis suburbs provide.
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October 11, 2024
Real Estate Recap: Rating Climate Risk, Window Tech, Towers
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a data-driven look at how climate risk is calculated for property owners, what one proptech company is doing to improve high-rise window-washing, and a new tracker following the tallest tower projects in the United States.
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October 11, 2024
11th Circ. Reinstates, Remands Alabama Burial Ground Fight
An Eleventh Circuit panel on Friday vacated and remanded a lower court's order in a fight between two Alabama tribes over a sacred burial site, saying it failed to review the litigation's sovereign immunity issues on a claim-by-claim basis.
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October 11, 2024
Fla. Suit Over $79M Bezos Property Purchase Moves Forward
A Florida state court judge on Friday denied a motion to dismiss a lawsuit accusing a real estate broker of misrepresenting that Amazon founder Jeff Bezos wasn't the true purchaser of a $79 million property on Miami's exclusive Indian Creek Island, causing the seller to reduce the listing price by millions.
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October 11, 2024
Wash. Tribal Panel Upholds Eviction Ruling Against Families
An appeals court for Washington state's Nooksack Indian Tribe has declined to reconsider a ruling that would evict a group of families claiming title under a federal homeownership program.
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October 11, 2024
Parties Look To Vacate 40-Year-Old Ore. Tribal Fishing Decree
The U.S. government, Oregon and a Native American tribe are asking a federal court to vacate a 1980 agreement that established hunting and fishing rights for the tribe, arguing that the consent decree was a product of its time and represented a distorted view on tribal sovereignty.
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October 11, 2024
RICO Suit Accuses VC Co. Of Falsely Claiming Native Ties
Three California corporations have hit the owners and operators of a venture capital firm with a racketeering suit in federal court, accusing them of falsely claiming they have Native American ties and can procure grants and loans for development projects managed by non-Native entrepreneurs.
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October 11, 2024
EB-5 Investor Urges Rollback Of Immigration Fee Hikes
An EB-5 immigrant investor urged a Colorado federal judge to set aside controversial immigration fee increases that took effect in April, arguing that a 2022 law required a study from the U.S. Department of Homeland Security before the immigrant investor program fees could be raised.
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October 11, 2024
Bellwether Plaintiffs Let Halliburton Escape Pollution Dispute
Two bellwether plaintiffs in litigation seeking to hold the owners and operators of a former pipe manufacturing facility liable for contamination have agreed to permanently drop their claims against Halliburton Energy Services.
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October 11, 2024
J&J Should Pay $30M For Developer's Cancer, Conn. Jury Told
Attorneys for a western Massachusetts real estate developer on Friday urged a Connecticut jury to award $30 million for past and future suffering to a lifelong Johnson & Johnson baby powder user diagnosed with mesothelioma, but the company's attorneys suggested $4 million was a more reasonable figure while contesting liability whatsoever.
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October 11, 2024
Julie Chrisley Appeals Ga. Judge's Resentencing Ruling
Former real estate mogul and reality television star Julie Chrisley, who was convicted of running a yearslong bank fraud scheme with her husband, Todd, is appealing a federal judge's decision to resentence her to the same seven-year prison term she first received nearly two years ago.
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October 11, 2024
Feds Designate 3rd-Largest Marine Sanctuary Off Calif. Coast
The Biden administration on Friday said the National Oceanic and Atmospheric Administration is designating more than 4,500 square miles of ocean off California's central coast as the Chumash Heritage National Marine Sanctuary.
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October 11, 2024
Fox Rothschild Aims To Exit Malpractice Suit Over Land Row
Fox Rothschild LLP has called on a New Jersey state court to throw out malpractice claims leveled against it by two siblings who accused a lawyer at the firm of bungling a 1984 property deed and 1993 trust belonging to their stepfather, arguing the sisters are trying to improperly hold it responsible for purported, decades-old negligence by other law firms.
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October 11, 2024
Indicted NJ Power Broker Says Civil Suit Belongs In Biz Court
Indicted Garden State power broker George E. Norcross III has asked a New Jersey state judge to transfer the civil racketeering suit brought against him and his attorney brother by a Philadelphia developer to the state's complex business litigation program.
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October 11, 2024
More Ga. PFAS Suits Are Coming. Here's How Attys Prepare
Leading attorneys in PFAS litigation say new regulations and ever-increasing lawsuits require attorneys to think carefully about proactive measures clients can take to limit PFAS use, and about the latest scientific research into how the so-called forever chemicals impact humans and the environment.
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October 11, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen billionaire Lakshmi Mittal sue steel magnate Sanjeev Gupta in a long-running clash to claw back €140 million ($153 million) of debt, a high-profile AI researcher take action against the Intellectual Property Office to register his software as a listed patent inventor and troubled housing trust Home Reit face a claim by a real estate developer. Here, Law360 looks at these and other new claims in the U.K.
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October 11, 2024
Minn. Tax Court Cuts $100K From Lakefront Cabin Value
A Minnesota lakefront cabin property was overvalued by a county assessor, the state's tax court said, reducing the assessment by more than $100,000 and rejecting the county's comparable sales analysis.
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October 11, 2024
Taxation With Representation: Davis Polk, Latham, Kirkland
In this week's Taxation With Representation, Rio Tinto agrees to acquire Arcadium Lithium for roughly $6.7 billion, Ares Management Corp. and GCP International reach a $3.7 billion deal, and Butterfly Equity announces plans to buy The Duckhorn Portfolio for $2 billion.
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October 10, 2024
Citadel Credit Union Reaches $6.5M Redlining Deal With DOJ
The U.S. Attorney for the Eastern District of Pennsylvania announced Thursday it reached a deal with Citadel Federal Credit Union to settle allegations it engaged in lending discrimination in Black and Latino neighborhoods, with the credit union agreeing to invest $6.5 million in neighborhoods of color in Philadelphia.
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October 10, 2024
Homebuyers Tell 8th Circ. Broker Deal Gives Them Nothing
Homebuyers are urging the Eighth Circuit to undo the approval of $208.5 million in settlements struck by real estate brokerages in the sprawling litigation over industry rules covering broker fees, saying the deals only provide money for sellers.
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October 10, 2024
3M, Other Cos. Hit With PFAS Contamination Class Action
Nantucket, Massachusetts, residents seek to hold the 3M Co., The Chemours Co. and other companies liable for perfluoroalkyl and polyfluoroalkyl substances that allegedly contaminated their properties, their drinking water and the residents themselves.
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October 10, 2024
Too Early To Decide Indemnification In Flood Row, BNSF Says
Railway giant BNSF told a California federal court that it's too early for the court to decide whether two Travelers units have a duty to indemnify BNSF in a lawsuit alleging that a track relocation project BNSF undertook caused significant flooding, noting the case is still pending.
Expert Analysis
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Perspectives
Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.
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Tips For Advising CRE Owners Affected By Houston Storms
As Houston residents begin the arduous process of recovery after this month's devastating storms, attorneys should guide commercial real estate owners and managers toward immediate action under their insurance coverage to facilitate restoration and a return to normalcy, says Justin Ratley at Munsch Hardt.
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4 Arbitration Takeaways From High Court Coinbase Ruling
The U.S. Supreme Court's May 23 decision in Coinbase v. Suski, which provides clarity to parties faced with successive contracts containing conflicting dispute resolution provisions, has four practical impacts for contracting parties to consider, say Charles Schoenwetter and Eric Olson at Bowman and Brooke.
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Series
Playing Music Makes Me A Better Lawyer
My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.
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What's New In Kentucky's Financial Services Overhaul
Kentucky's H.B. 726 will go into effect in July and brings with it some significant restructuring to the Kentucky Financial Services Code, including changes to mortgage loan license fees and repeals of provisions relating to installment term loans and savings associations, say attorneys at Frost Brown.
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How Attys Can Avoid Pitfalls When Withdrawing From A Case
The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.
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How Real Estate Cos. Can Protect Their IP In The Metaverse
The rise of virtual and augmented reality creates new intellectual property challenges and opportunities for real estate owners, but certain steps, including conducting a diligence investigation to develop an understanding of current obligations, can help companies mitigate IP issues in the metaverse, says George Pavlik at Levenfeld Pearlstein.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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A Comparison Of FDIC, OCC Proposed Merger Approaches
Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.
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Series
Being An EMT Makes Me A Better Lawyer
While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.
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In Debate Over High Court Wording, 'Wetland' Remains Murky
Though the U.S. Supreme Court's decision limiting the Clean Water Act’s wetlands jurisdiction is now a year old, Sackett v. EPA's practical consequences for property owners are still evolving as federal agencies and private parties advance competing interpretations of the court's language and methods for distinguishing wetlands in lower courts, says Neal McAliley at Carlton Fields.
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Ga. Law Creates Challenges For Foreign Ownership Of Land
Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.
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Questions Remain After Mass. Adverse Possession Case
A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.
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4 Takeaways From Biden's Crypto Mining Divestment Order
A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.
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Insurer Quota-Sharing Lessons From $112M Bad Faith Verdict
In Indiana GRQ v. American Guarantee and Liability Insurance, an Indiana federal jury recently issued a landmark $112 million bad faith verdict, illustrating why insurers must understand the interplay between bad faith law and quota-sharing before entering into these relatively new arrangements, say Jason Reichlyn and Christopher Sakauye at Dykema.