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White Collar
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September 11, 2024
Fed. Prosecutor Joins NY Litigation Boutique Clarick Gueron
Commercial litigation boutique Clarick Gueron Reisbaum LLP has made a rare lateral partner hire as it announced Tuesday it had brought on board the head of the civil rights unit at the U.S. Attorney's Office for the Southern District of New York.
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September 11, 2024
Ipsen Exec Made Illegal Trades Before Merger, Feds Say
An Ipsen Biopharmaceuticals executive has been charged with allegedly amassing roughly $260,000 in ill-gotten gains through insider trading on the stock of a smaller rival that Ipsen purchased in 2022, federal prosecutors announced Tuesday.
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September 11, 2024
Proskauer Lands Fried Frank's Arbitration Head In London
Proskauer Rose LLP has recruited the former head of arbitration at Fried Frank Harris Shriver & Jacobson LLP in London as the firm looks to boost its litigation practice in the U.K.
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September 11, 2024
EU Struggles With Setup Of G7 Use Of Frozen Russian Assets
European Union countries are struggling to agree on a legal solution to reassure the U.S. that windfall profits from frozen and immobilized Russian state assets will be used to repay a $50 billion loan to Ukraine over the entire length of the loan.
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September 11, 2024
EU Court Upholds Sanctions On Russian Clearinghouse
Russia's securities clearinghouse has lost its appeal challenging sanctions imposed by the European Union in response to the invasion of Ukraine, after a Luxembourg court ruled Wednesday that the decisions were backed up by evidence.
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September 11, 2024
Star Witness In Bankman-Fried Trial Seeks No Prison Time
Former FTX insider Caroline Ellison urged a Manhattan federal judge not to sentence her to prison for her part in the crypto exchange's massive fraud scheme, citing her remorse and the "devastating" trial testimony she gave against onetime romantic partner and company founder Sam Bankman-Fried.
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September 11, 2024
NC Car Parts Biz Racks Up $10M In Fines For Cheat Devices
A North Carolina automotive components business will pay a $2.4 million criminal penalty on top of a $7 million civil fine for dealing devices used to skirt federal vehicle emissions controls, the U.S. Department of Justice announced.
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September 11, 2024
Federal Pot Ban Out Of Step With The Times, 1st Circ. Told
A group of cannabis businesses told the First Circuit the federal government no longer has a reasonable basis for prohibiting state-regulated marijuana, saying Congress has clearly changed its tune on pot commerce in the more than half-century since the ban was passed.
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September 11, 2024
Freelancer Loses Unfair Dismissal Case Against Al Jazeera
An employment tribunal has ruled that Al Jazeera did not push a Zimbabwean journalist to quit when he had finished working on an investigative series about gold-smuggling because he was not an employee at the time.
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September 11, 2024
Oligarchs Fridman, Aven Fail To Ax Sanctions Reporting Rules
European Union measures that require oligarchs including Mikhail Fridman and Petr Aven to disclose their assets and cooperate in investigations are lawful and "necessary" for maintaining the bloc's sanctions regime, a European court ruled Wednesday, saying the rules were "unprecedented."
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September 11, 2024
Mich. State Resisted Releasing Larry Nassar Docs, AG Says
Michigan State University unnecessarily withheld thousands of documents during an investigation into the school's handling of the Larry Nassar sexual abuse scandal, and when the documents were eventually provided, they did not offer any newly revealing information, the state's attorney general said in closing the probe Wednesday.
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September 11, 2024
Norton Rose Adds Litigator, Crisis Manager From Blank Rome
A former Blank Rome litigator whose eclectic resume includes crisis management and working as an agent for professional athletes has jumped to the New York office of Norton Rose Fulbright as a partner.
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September 11, 2024
TV Property Developer Appears In Court On Fraud Charges
A television property developer appeared at a London criminal court on Wednesday to face charges for the first time that he defrauded a U.S. rental company out of £2 million ($2.6 million).
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September 11, 2024
Oil Biz Sues Ex-Chief Exec For Allegedly Embezzling €144M
A Singapore-based petroleum company has accused its former chief executive and "de facto" chief financial officer of embezzling €143.8 million ($158.8 million) to pay for the acquisition of North Sea oil assets, according to a legal claim filed in London.
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September 10, 2024
SEC Files New Insider Case Tied To Stolen Covington Info
The U.S. Securities and Exchange Commission on Tuesday brought a new insider trading case tied to the theft of confidential merger information from a Covington & Burling LLP lawyer, suing the cousin of a former FBI trainee who was sentenced to prison for filching the Merck & Co. deal info at the heart of the case and then tipping off others.
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September 10, 2024
Colo. DA Faces Disbarment After Probe Of Murder Case Judge
A split Colorado disciplinary board on Tuesday ordered the disbarment of an elected local prosecutor who directed an investigation into the background of a judge who had sanctioned her office for discovery violations, ruling that the investigation and other ethical violations warranted taking away her law license.
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September 10, 2024
Atlanta Consultant Didn't Deal With Cyber Hackers, Suit Says
An Atlanta-based insurance industry consulting firm failed to negotiate with hackers and didn't pay a ransom to protect user data after its network was compromised, despite promises to keep customer information safe, according to a proposed class action filed Tuesday.
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September 10, 2024
Senate Confirms SDNY, Maryland Court Picks
The U.S. Senate on Tuesday signed off on two new federal judges with BigLaw experience, confirming a federal prosecutor to the Southern District of New York and a current magistrate judge to the District of Maryland.
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September 10, 2024
Ex-McElroy Deutsch CFO's Ch. 11 Case Nixed As 'Bad Faith'
McElroy Deutsch Mulvaney & Carpenter LLP convinced a New Jersey bankruptcy judge to throw out the Chapter 11 filing of its former chief financial officer, who is behind bars for stealing over $1 million from the firm, with the judge finding Tuesday that the petition was brought in "bad faith" to stall related state litigation.
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September 10, 2024
TPG, Rosatom Seek To Bar Jailed Oligarch's $14B Fraud Claim
Russia's state atomic energy corporation and private equity firm TPG Group on Tuesday urged a London judge to block an imprisoned oligarch's $14 billion fraud conspiracy claim over the alleged seizure of his port and transport businesses led by the Russian state.
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September 10, 2024
Will Tom Girardi's Age Impact His Sentence?
Disbarred attorney Tom Girardi's age and mental decline did not help him avoid conviction last month on charges that he stole millions in client funds, but it's an open question how much these factors will affect his sentencing, set for December.
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September 10, 2024
John Deere Will Pay SEC $10M To End Thai Bribes Probe
Deere & Co. has agreed to pay nearly $10 million to end an investigation by the U.S. Securities and Exchange Commission into bribes paid by executives at a Thai subsidiary that netted the heavy equipment maker millions in contracts with the Thai government and at least one private company.
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September 10, 2024
UK Watchdogs Link Up To Tackle Cybersecurity Enforcement
The U.K.'s data protection watchdog said Tuesday that it has signed a new cooperation agreement with the country's top criminal investigator to help tackle cybercrime in the U.K.
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September 10, 2024
Keurig To Pay SEC $1.5M Over K-Cup Recyclability Claims
The U.S. Securities and Exchange Commission on Tuesday ordered Keurig Dr. Pepper to pay a $1.5 million penalty and refrain from filing inaccurate information in its annual reports to settle allegations that it inaccurately claimed that its K-Cup coffee and tea pods were effectively recyclable.
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September 10, 2024
Meet The Lawyers Tapped To Defend In Glencore Bribery Case
Six former Glencore employees, including the commodity giant's billionaire former head of oil, who have been charged with bribery by the Serious Fraud Office, have tapped an all-star list of the U.K.'s most experienced trial solicitors and barristers with a track record of prevailing against the white-collar agency.
Expert Analysis
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Teach Your Party Representative The Art Of Nonverbal Cues
As illustrated by recent reports about President Donald Trump’s nonverbal communication in court, jurors notice what’s happening at counsel table, which may color their perceptions of the case as a whole, so trial attorneys should teach party representatives to self-monitor their nonverbal behaviors, says Clint Townson at Townson Consulting.
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Georgia's Foreign Lobbying Bill Is Not A FARA Copycat
Though a recently passed bill in Georgia aims to mirror the transparency goals of the federal Foreign Agents Registration Act by imposing state-specific disclosure requirements for foreign lobbyists, the legislation’s broad language and lack of exemptions could capture a wider swath of organizations, say attorneys at Holtzman Vogel.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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Tips For Balanced Board Oversight After A Cyberincident
The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.
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Breaking Down DOJ's Individual Self-Disclosure Pilot Program
The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.
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Ensuring Nonpublic Info Stays Private Amid SEC Crackdown
Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.
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Opinion
Seafarer Detention Under Ship Pollution Law Must Have Limits
The U.S. Coast Guard should reinstate limits on the number of days that foreign crew members may be forced to remain in the country while the U.S. Department of Justice investigates alleged violations of shipping pollution laws, in order to balance legitimate enforcement interests and seafarer welfare, say attorneys at Blank Rome.
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Perspectives
Justices' Forfeiture Ruling Resolves Nonexistent Split
The U.S. Supreme Court’s decision in McIntosh v. U.S., holding that a trial court’s failure to enter a preliminary criminal forfeiture order prior to sentencing doesn’t bar its entry later, is unusual in that it settles an issue on which the lower courts were not divided — but it may apply in certain forfeiture disputes, says Stefan Cassella at Asset Forfeiture Law.
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Binance Ruling Spotlights Muddled Post-Morrison Landscape
The Second Circuit's recent decision in Williams v. Binance highlights the judiciary's struggle to apply the U.S. Supreme Court's Morrison v. National Australia Bank ruling to digital assets, and illustrates how Morrison's territorial limits on the federal securities laws have become convoluted, say Andrew Rhys Davies and Jessica Lewis at WilmerHale.
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IRS Sings New Tune: Whistleblower Form Update Is Welcome
In a significant reform at the Internal Revenue Service's Whistleblower Office, the recently introduced revisions to the Form 211 whistleblower award application use new technology and a more intuitive approach to streamline the process of reporting allegations of tax fraud committed by wealthy individuals and companies, says Benjamin Calitri at Kohn Kohn.
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Strategies For Challenging A Fla. Grand Jury Report's Release
A Florida grand jury’s recent report on potential wrongdoing related to COVID-19 vaccines should serve as a reminder to attorneys to review the myriad legal mechanisms available to challenge the lawfulness of a grand jury report’s publication and expunge the names of their clients, says Cary Aronovitz at Holland & Knight.
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First 10b5-1 Insider Trading Case Raises Compliance Issues
The ongoing case against former Ontrak CEO Terren Peizer is the U.S. Department of Justice's first insider trading prosecution based primarily on the filing of 10b5-1 plans, and has important takeaways for attorneys reviewing corporate policies on the possession of material nonpublic information, say attorneys at Cadwalader.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.
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3 Lessons From Family Dollar's Record $41.7M Guilty Plea
Family Dollar's recent plea deal in connection with a rodent infestation at one of its distribution facilities — resulting in the largest ever monetary criminal penalty in a food safety case — offers key takeaways for those practicing in the interconnected fields of compliance, internal investigations and white collar defense, says Jonathan Porter at Husch Blackwell.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.