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Real Estate
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January 14, 2025
Latham Grabs Top Spot For 2024 IPOs By Large Margin
Latham & Watkins LLP guided more initial public offerings than any law firm in 2024, capturing a diverse mix of large listings for companies that seized opportunities to go public as the broader IPO market inched toward recovery, new data shows.
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January 14, 2025
8th Circ. Backs Real Estate Agents' Win In Copyright Case
The Eighth Circuit on Tuesday backed a lower court ruling that let real estate agents off the hook on claims they infringed a home designer's copyrights, agreeing that the inclusion of floor plans in listings of homes he designed were fair use.
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January 14, 2025
Insurer Says Event Co. Hid Texts Showing Overstated Losses
An insurer renewed its request for sanctions in a Minnesota federal case against an event center it insured, accusing the business of concealing evidence that it fraudulently inflated its losses from vandalism after the death of George Floyd.
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January 14, 2025
NY Appeals Court OKs Arbitration Stay In $60M Hotel Fight
A New York appeals court has affirmed a lower court order pausing an arbitration initiated by a hotel co-owner in a $60 million dispute with another co-owner over the purported mismanagement of eight hotels nationwide.
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January 14, 2025
Mich. Judge Won't Step Aside After Atty Turnover Quip
A Michigan federal judge refused to step aside from overseeing a lawsuit from a pastor who alleges a township's zoning ordinance discriminates against religious entities, ruling Monday that comments he made about the number of attorneys the pastor has had or praise he gave prior counsel do not show any bias against the plaintiffs.
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January 14, 2025
Resort Developer Asks To Wind Up Chinese Co. In Bahamas
The developer of the Baha Mar resort in the Bahamas filed a petition Tuesday to liquidate a Chinese-owned construction firm that was hit with a $1.6 billion judgment last year by a New York court over its fraud tied to the construction of the resort project.
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January 14, 2025
Mercedes Urges 6th Circ. Redo Of Fire Coverage Ruling
The research group for Mercedes-Benz North America has told the Sixth Circuit it should not have to reimburse the insurer of an Ann Arbor, Michigan, property it rented for a fire it inadvertently set, saying a clause in its lease prevents subrogation.
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January 14, 2025
Retroactive Foreclosure Rule Bars Suit, Mich. County Says
A Michigan county has urged a federal judge to toss a proposed class action alleging that it kept surplus proceeds from tax-foreclosed home sales, saying the homeowner bringing the claims hasn't yet used the state's process for securing the proceeds.
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January 14, 2025
DOI Greenlights Calif. Tribe's $700M Casino, Housing Project
A California tribe is set to build a $700 million project near the San Francisco Bay area that is proposed to include a casino and resort, two dozen homes and a biological preserve, following years of litigation and controversy surrounding the endeavor.
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January 14, 2025
FTC Issues Second Report On PBMs, Expanding Study Scope
The Federal Trade Commission released a second "interim" report on pharmacy benefit managers and their effects on specialty drug prices Tuesday, claiming that the companies have driven up prices well over acquisition costs and continue to squeeze independent pharmacies out of the market through low reimbursement rates.
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January 14, 2025
Tribe Members Look To Intervene In 8th Circ. Pipeline Case
Twenty members of the Three Affiliated Tribes of the Fort Berthold Indian Reservation have urged the Eighth Circuit to let them intervene in a Marathon Petroleum Corp. subsidiary's lawsuit challenging the Interior Department's reversal of decisions related to a pipeline crossing the reservation's land in North Dakota.
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January 14, 2025
Mo. House Bill Seeks Deduction For Property Tax Payments
Missouri would allow taxpayers to claim an income tax deduction for property tax payments under a bill introduced in the state House of Representatives.
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January 14, 2025
Easement Worth $1M, Not $18M, Gov't Tells 11th Circ.
The U.S. Tax Court was right to believe expert testimony that a claimed conservation easement donation of roughly $18 million was only worth $1 million, the government told the Eleventh Circuit, urging it to reject the donors' claims that the expert was unreliable.
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January 14, 2025
Trump Org. Taps Quinn Emanuel Atty For Ethics Adviser
A co-managing partner of Quinn Emanuel Urquhart & Sullivan LLP has been selected to step into the role of outside ethics adviser for the Trump Organization, President-elect Donald Trump's real estate conglomerate, according to an announcement by its executive vice president.
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January 14, 2025
Simpson Thacher, Sullivan Rep CBRE's $400M Coworking Buy
CBRE Group Inc. announced on Tuesday it will purchase coworking company Industrious National Management Company LLC for $400 million in a deal guided by Simpson Thacher & Bartlett LLP and Sullivan & Cromwell LLP.
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January 14, 2025
Eversheds Sutherland Adds Ex-Cole Schotz Atty
Eversheds Sutherland has hired commercial real estate transactions attorney Emanuel Tsourounis II, a former Cole Schotz PC partner, for its team in New York City.
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January 14, 2025
Buchanan Ingersoll Grows In Fla. With Nason Yeager RE Atty
Buchanan Ingersoll & Rooney PC has strengthened its real estate capabilities in Tampa, Florida, with the addition of a Nason Yeager Gerson Harris & Fumero PA attorney.
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January 14, 2025
H&E Rentals' Stock Doubles On $4.8B United Rentals Deal
United Rentals Inc. has agreed to purchase fellow equipment rental company H&E Rentals for about $4.8 billion, including approximately $1.4 billion of debt, the companies said Tuesday, with the news leading to a more than 100% increase in H&E's stock price.
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January 13, 2025
On Cross, Madigan Says He Merely Helped Job-Seekers
Former Illinois House Speaker Michael Madigan distanced himself Monday from political allies who prosecutors say bribed him for jobs and other benefits, saying his recommendations were just that, and that he thought he was effective in shutting down a former alderman's quid pro quo suggestion.
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January 13, 2025
Bannon Must Explain Atty Swap As NY Wall Fraud Trial Looms
A New York state judge on Monday ordered Steve Bannon to appear in court to explain why he switched counsel a month before he faces trial on charges of defrauding donors to a fundraiser to build a U.S. southern border wall.
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January 13, 2025
Judge Says California Tribe Can't Block Casino Land Decision
A California tribe can't block the Interior Department from taking 65 acres into trust for a fellow state tribe's proposed casino project, a federal district judge said, arguing that it has not satisfied the burden to prove an immediate threat of irreparable harm.
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January 13, 2025
Newsom Waives Permits, Enviro Rules To Rebuild LA Faster
California Gov. Gavin Newsom in an executive order Sunday suspended state environmental rules and permitting in coastal areas, a move intended to help rebuild from wildfires causing extensive destruction in Los Angeles.
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January 13, 2025
NJ Groups Sue To Revoke Offshore Wind Farm Approvals
A group of environmental and business organizations are alleging in New Jersey federal court that federal approvals awarded to a Shell-backed developer's offshore wind projects violate a number of environmental statutes, and they are looking to halt the construction of two offshore wind facilities located just under nine miles off the Garden State coast.
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January 13, 2025
NY Dispensaries Say Pot Agencies Broke Proximity Rules
A group of four adult-use marijuana dispensaries are suing New York's cannabis regulators, aiming to vacate the issuance of licenses for four competing dispensaries that they say violate the state's 1,000-foot buffer between outlets.
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January 13, 2025
Ex-Cook County Assessor Officer Hit With Bribery Charges
A chief hearings officer for former Cook County Assessor Joseph Berrios' office accepted bribes, including from a law firm's tax consultant, when handling a property assessment appeal, a new lawsuit in Illinois federal court alleges.
Expert Analysis
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Understanding 2 Types Of Construction Payment Clauses
Given the recent trend of states prohibiting pay-if-paid clauses in construction clauses in favor of fortifying contractor protections with pay-when-paid clauses, parties involved in construction projects should take care to understand the nuances between the two clauses, say Jeffery Mullen and Josephine Bahn at Cozen O'Connor.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Bank M&A Continues To Lag Amid Regulatory Ambiguity
Bank M&A activity in the first half of 2024 continued to be lower than in prior years, as the industry is recovering from the 2023 bank failures, and regulatory and macroeconomic conditions have not otherwise been prime for deals, say Robert Azarow and Amber Hay at Arnold & Porter.
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How High Court Ruling Is Shaping Homelessness Policies
The U.S. Supreme Court’s June decision in Grants Pass v. Johnson to allow enforcement of local ordinances against overnight camping is already spurring new policies to manage homelessness, but the court's ruling does not grant jurisdictions unfettered power, say Kathryn Kafka and Alex Merritt at Sheppard Mullin.
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DOJ Paths To Limit FARA Fallout From Wynn's DC Circ. Win
After the D.C. Circuit’s recent Attorney General v. Wynn ruling, holding that the government cannot compel retroactive registration under the Foreign Agents Registration Act, the U.S. Department of Justice has a few options to limit the decision’s impact on enforcement, say attorneys at MoFo.
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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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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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Cannabis Biz Real Estate Loan Considerations For Lenders
Now that cannabis sales are legal in some states, real estate lenders are interested in financing the land used by cannabis companies, but because cannabis sales are still illegal under federal law, lenders must make adjustments for cannabis-adjacent transactions, say Mark Levenson and Jeffrey Wendler at Sills Cummis.
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Series
After Chevron: Don't Let Loper Lead To Bank Compliance Lull
Banking organizations are staring down a period of greater uncertainty over the next few years as the banking agencies and industry navigate the post-Chevron world, but banks must continue to have effective compliance programs in place even in the face of this unpredictability, say Lee Meyerson and Amanda Allexon at Simpson Thacher.
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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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Maryland 'Rain Tax' Ruling May Offer Hope For Tax Credits
A Maryland state appellate court's recent decision in Ben Porto v. Montgomery County echoes earlier case law upholding controversial stormwater charges as a valid excise tax, but it also suggests that potential credits to reduce property owners' liability could get broader in scope, says Alyssa Domzal at Ballard Spahr.
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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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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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Decoding CFPB Priorities Amid Ramp-Up In Nonbank Actions
Based on recent Consumer Financial Protection Bureau enforcement actions and press releases about its supervisory activities, the agency appears poised to continue increasing its scrutiny over nonbank entities — particularly with respect to emerging financial products and services — into next year, say attorneys at Wiley.