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Commercial Contracts
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October 23, 2024
Judge Says $85M Signature Bank Lawsuit Came Too Late
A New York federal judge has permanently tossed a lawsuit brought by a developer and its affiliates alleging that a former Signature Bank employee fraudulently misled them into unfavorable financial transactions, saying the claims are time-barred under the bank's one-year statute of limitations and not adequately pled.
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October 23, 2024
No Xenophobia Taint In Fired Prof's Jury Trial, Panel Says
An Ohio state appellate court has upheld a jury's finding that a Cincinnati medical center did not violate employment law when it fired a tenured associate professor, rejecting the professor's argument that the medical center attempted to stoke "xenophobic bias" in the jury by mentioning his Chinese heritage during trial.
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October 23, 2024
UBS Wins $192M Award Confirmation In Eurobond Dispute
An Egyptian businessman has lost his years-old bid in New York federal court to vacate an approximately $192 million arbitral award favoring UBS and other lenders in a dispute over a $100 million Eurobond default.
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October 23, 2024
Billionaire Sued For $25M Over Renewable Fuel Project Costs
Air Products and Chemicals Inc. has slapped Canadian billionaire John Carter Risley with a suit in Delaware federal court seeking to enforce a $25 million personal guarantee after renewable fuels company World Energy, a company Risley has invested in, defaulted on more than $26 million in payments.
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October 23, 2024
9th Circ. Judge Suggests Equity Pact Counts As Wash. Loan
A Ninth Circuit judge said Wednesday he was "struggling with" a company's stance that its equity-sharing agreement with two homeowners in Washington state doesn't amount to a loan covered by state laws regulating reverse mortgages, saying the arrangement appears to check the boxes of the statutory definition.
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October 23, 2024
NJ City Permitted Bigger Project To End Suit, Opponent Says
A property owner's nonprofit has brought a new lawsuit claiming that the city of Hoboken, New Jersey, gave a developer more than $50 million in project benefits in a settlement that could nearly double the scope of a pair of mixed-use developments along the scenic Palisades cliffs.
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October 23, 2024
Jersey Shore Attractions Sued For Pay Over Iconic Phrase
The woman whose voice has been played in a recording along a New Jersey shore town's boardwalk for over 45 years alleged in a revised state court complaint Wednesday she has never been paid more than few free tram car tickets despite it becoming an iconic slogan for the popular destination.
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October 23, 2024
How FINRA Filings Led To A $29M Defamation Verdict In Pa.
Two firms that specialize in injury, employment and fraud matters teamed up for an unusual case that posed a tricky task: boiling down the technicalities of securities law in order to convince a Pennsylvania state jury that regulatory filings were misused for defamation.
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October 23, 2024
Del. Judge Won't Yet Revisit $242K Atty Sanctions In Ch. 7
A Delaware bankruptcy judge said Wednesday that he won't, for now, set aside more than $242,000 in legal fees he ordered a lawyer representing the owners of an insolvent government contractor to pay in a clawback lawsuit, saying that since the sanctions order was appealed to the district court, he doesn't have jurisdiction.
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October 23, 2024
Trial Consulting Firm Says Ex-Worker Stole Trade Secrets
Jury analysis firm Jury-X has accused a former employee of taking off with its trade secrets and exploiting a "backdoor" she put in the company's data tables to start her own competing juror selection services business that also copied her old employer's appearance online.
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October 23, 2024
Kirkland Adds Freshfields Atty To Boost Private Credit Bench
Kirkland & Ellis LLP has welcomed an expert in leveraged finance from Freshfields Bruckhaus Deringer LLP, saying Wednesday that his diverse practice will strengthen the firm's liability management and opportunistic credit practices and support its position in the growing private credit sector.
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October 22, 2024
Texas Firm 'Tortured' Barratry Case, Appeals Court Hears
A Texas law firm accused of ambulance chasing told a state appeals court that the opposition had "tortured" the case, saying during oral arguments Tuesday that Bandas Law Firm PC pursued the case merely as an extortion racket.
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October 22, 2024
Fraud Detector Inks $500K Deal In Webster Bank Breach Probe
A fraud detection vendor servicing Webster Bank NA will pay $500,000 to settle an investigation into a data breach that exposed the personal information of nearly 158,000 Connecticut residents, the state attorney general's office has announced.
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October 22, 2024
Colo. Justices Suggest Remanding 'Half-Baked' Privilege Case
Colorado Supreme Court justices appeared reluctant Tuesday to do more than remand a case over whether attorney-client privilege protects communications by an insurance company's lawyers with engineers hired for processing a claim, with two justices calling the appeal "half-baked" since the trial judge admitted she used the wrong standard.
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October 22, 2024
Hagens Berman Says Vorys 'Opportunistically' Seeking Lead
Hagens Berman Sobol Shapiro LLP is fighting a bid by Vorys Sater Seymour and Pease LLP to take the lead in a proposed consolidated class action against gaming giant Valve Corp., saying that after they defeated Valve's arbitration provision Vorys sought to "opportunistically" seize the leadership role.
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October 22, 2024
'A Lot Of Nerve': Judge Slams Ex-Sparks Owners' Fee Claim
A California judge overseeing a suit by former Los Angeles Sparks basketball team co-owners claiming they're owed free game tickets for life said their argument that they also deserve attorney fees because the lawsuit serves the public interest is potentially frivolous, adding, "Somebody in my view has a lot of nerve."
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October 22, 2024
Judge Tells Firm To Tighten Up Testimony In Nassar Fee Trial
A Michigan federal judge cautioned a local personal injury firm Tuesday to reel in the head of the firm on the witness stand, warning he was losing the jury in a long "inside baseball" legal discussion in his efforts to get a greater cut of fees from a Colorado firm for work on a Larry Nassar abuse settlement.
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October 22, 2024
Supervisor Could've Prevented Electrician's Death, Widow Says
The widow of a man who was electrocuted told a Texas appeals court during oral arguments Tuesday that it wouldn't matter if there was a supervisor looking over the deceased man's shoulder, claiming the question never came up because there wasn't a qualified supervisor on site.
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October 22, 2024
IQVIA, Veeva Blast Summary Judgment Bids In Secrets Suit
Life sciences data giant IQVIA Inc. and competitor Veeva Systems Inc. slammed each other's summary judgment bids made public Tuesday in a trade secrets lawsuit in New Jersey federal court, with Veeva arguing that IQVIA's purported trade secrets are hardly confidential and IQVIA saying Veeva's assertions are "a last-ditch effort to avoid liability."
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October 22, 2024
10th Circ. Affirms Energera Broke Deal By Filing Patent Suits
The Tenth Circuit has ruled that both basic logic and "ordinary grammar" support the finding that a covenant not to file any further patent infringement lawsuits was broken by Colorado oil field equipment supplier Energera when it continued to sue Fuel Automation's future customers over "related" patents.
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October 22, 2024
NY Judge Trims HOA's Nuisance Suit Against Queens Stadium
A New York state court judge has pared a Forest Hills, Queens, homeowners association's nuisance suit against a local stadium owner accused of disturbing the neighborhood with lots of noise, traffic and crowds.
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October 22, 2024
Paramount Again Foils Suit Over 'Romeo & Juliet' Nude Scene
Paramount Pictures again defeated a lawsuit by two actors challenging the redistribution of the 1968 film adaptation of "Romeo & Juliet" that contained a nude scene, because a California judge said a prior court already decided the film's distribution was protected activity and, accordingly, the actors are barred from relitigating the issue.
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October 22, 2024
Judge Skeptical Amgen Can't Sue Over Colo. Drug Price Caps
A Colorado federal judge on Tuesday seemed to doubt the state could short-circuit drugmaker Amgen's challenge to the state's drug price cap system, pressing the state to explain why limiting what consumers ultimately pay does not affect what companies like Amgen can charge.
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October 22, 2024
BP Unit Says Mexican Cos. Owe It $46M For Natural Gas
Oil and gas giant BP's Mexican unit has asked a Texas federal court to enforce approximately $46 million in arbitral awards against subsidiaries of steelmaker Ternium SA after they allegedly bought natural gas during 2021's Winter Storm Uri and refused to pay.
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October 22, 2024
How Law Firms Get And Keep Elite Status
For decades, a handful of New York-based law firms thoroughly dominated the national consciousness when it came to power, profitability and prestige. But in today's legal market, increased movement of partners and clients from one firm to the next has begun to shake things up and create opportunities for go-getters to ascend the ranks.
Expert Analysis
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A Look At FERC's Plan To End Reactive Power Compensation
A recent notice of proposed rulemaking indicates that the Federal Energy Regulatory Commission is likely to eliminate compensation for reactive power within the standard power factor range — causing significant impacts for the electric power industry, which relies on income from providing this service, say Norman Bay and Matthew Goldberg at Willkie and Vivian Chum at Wright & Talisman.
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8 Legal Issues Influencing Investors In The Creator Economy
The rapidly expanding digital creator economy — funding for which more than doubled in the U.S. in the first quarter — comes with its own set of unique legal issues investors must carefully consider before diving in, say Louis Lehot and Alan Pate at Foley & Lardner.
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E-Discovery Quarterly: Recent Rulings On Text Message Data
Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.
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IP Considerations For Companies In Carbon Capture Sector
As companies collaborate to commercialize carbon capture technologies amid massive government investment under the Infrastructure Investment and Jobs Act, a coherent intellectual property strategy is more important than ever, including proactively addressing and resolving questions about ownership of the technology, say Ashley Kennedy and James De Vellis at Foley & Lardner.
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What's Notable In JAMS' New Mass Arbitration Rules
The Judicial Arbitration and Mediation Services’ recently released guidelines, coming on the heels of similar American Arbitration Association amendments, suggests that mass arbitrations will remain an efficient means for consumers to vindicate their rights against companies, say Jonathan Waisnor and Brandon Heitmann at Labaton Keller.
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How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
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Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
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Breaking Down 4th Circ. Pendent Appellate Jurisdiction Ruling
As illustrated by the Fourth Circuit's recent decision in Elegant Massage v. State Farm, denying class certification and granting a motion to dismiss, federal appellate courts continue to struggle with defining the scope of pendent appellate jurisdiction — or jurisdiction over nonfinal orders below, says Joan Steinman at the Chicago-Kent College of Law.
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FTC Noncompete Rule May Still Face Historical Hurdles
The Federal Trade Commission's final rule banning noncompetes might face challenges that could have been avoided with more cautious consideration of the commission's long history of failed lawsuits that went beyond the agency's statutory authority, as well as the mountain of judicial precedent justifying noncompete agreements in employment contracts, say attorneys at BakerHostetler.
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Microplastics At The Crossroads Of Regulation And Litigation
Though there are currently not many federal regulations specifically addressing microplastics as pollutants, regulatory scrutiny and lawsuits asserting consumer protection claims are both on the rise, and manufacturers should take proactive steps to implement preventive measures accordingly, say Aliza Karetnick and Franco Corrado at Morgan Lewis.
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How EB-5 Regional Centers Can Prepare For USCIS Audits
In response to the recently announced U.S. Citizenship and Immigration Services guidelines that require EB-5 regional center audits every five years to verify their compliance with immigration and securities laws, regional centers should take steps to facilitate a seamless audit process, say Jennifer Hermansky and Miriam Thompson at Greenberg Traurig.
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As Arbitrator Bias Claims Rise, Disclosure Standards Evolve
The growth in post-award challenges based on arbitrators' alleged conflicts of interest has led to the release of new guidance and new case law on the topic — both supporting the view that professional familiarity alone does not translate to a lack of impartiality, say attorneys at Skadden.
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How Cos. Can Protect IP In Light Of FTC Noncompete Rule
While several groups are challenging the Federal Trade Commission’s recently approved rule banning noncompetition agreements, employers should begin planning other ways to protect their valuable trade secrets, confidential information and other intellectual property, says Thomas Duston at Marshall Gerstein.
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Setting Goals For Kicking Corruption Off FIFA World Cup Field
The unprecedented tri-country nature of the 2026 men's World Cup will add to the complexity of an already complicated event, but best practices can help businesses stay on the right side of anti-corruption rules during this historic competition, say Sandra Moser and Emily Ahdieh at Morgan Lewis.
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Don't Use The Same Template For Every Client Alert
As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.