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September 23, 2024
Ex-Comtech CEOs Push For New Board, Strategic Changes
Two former CEOs of Comtech Telecommunications Corp. are calling for a new board at the global technology company and are pushing the business to consider strategic options, including a potential sale of its public safety business, while noting that one of the CEOs had even offered to re-take the helm at the company without cash compensation.
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September 23, 2024
Debevoise Reps KKR On $4.6B Middle-Market Fund
Debevoise & Plimpton LLP-advised private equity giant KKR announced Monday that it clinched its latest fund dedicated to middle-market businesses in North America after securing $4.6 billion in investor commitments.
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September 23, 2024
Letterman Enjoys Jury Service, But Not Picked For Fraud Trial
David Letterman was excused from a Manhattan federal jury pool Monday ahead of the trial of a businessman accused of defrauding NBA athletes including former Los Angeles Laker Dwight Howard, after a lawyer said his son had interacted with the late-night television legend.
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September 20, 2024
Real Estate Recap: Infrastructure Rally, Insurance Reckoning
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including revived interest in infrastructure-focused funds and the next installment in a new series exploring the effects of extreme weather on the property insurance market.
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September 20, 2024
NY Judge Resigns Amid Ethics Charges of Corruption, Abuse
A New York state judge in Westchester County has agreed to resign from the bench after the New York Commission on Judicial Conduct charged him last month with multiple counts of judicial misconduct, including dismissing traffic tickets for friends, sexually harassing a newly appointed judge, and berating court staffers and attorneys.
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September 20, 2024
EV Battery Co. Hit With $207M Default Loss For Lack Of Attys
Shareholders of electrical vehicle battery maker Romeo Power Inc. have secured a $206.8 million default win against the company after it failed to retain new counsel in a proposed class action alleging it concealed its acute shortage of high-quality battery cells before going public via a merger with a blank check company.
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September 20, 2024
Family Of NY Helicopter Crash Victim Wins $116M Verdict
A Manhattan jury has held that three aviation companies must pay a total of more than $116 million for negligence and design defects that contributed to a 26-year-old man's death during a sightseeing helicopter crash in New York's East River.
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September 20, 2024
States Tell 10th Circ. To Back Colo. Interest Rate Opt-Out Law
Attorneys general for 13 states and Washington, D.C., asked the Tenth Circuit on Friday to uphold a Colorado law imposing more restrictive interest rate caps on loans made to its residents by out-of-state banks, arguing that a federal judge's injunction "nullifies the authority granted to states by Congress" to protect consumers from abusive lending practices.
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September 20, 2024
NY Utilities Tell DC Circ. More Risk Should Equal More Return
A D.C. Circuit panel on Friday weighed the differences between risks and costs in a dispute between a group of New York utilities and the Federal Energy Regulatory Commission over rates the power companies can charge after making infrastructure upgrades.
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September 20, 2024
'Con Man' Who Faked Atty Emails In Biz Scam Gets 30 Mos.
A Manhattan federal judge hit a former investment analyst with 30 months in prison Friday for stealing $2.4 million from backers who thought he planned to invest in a retail startup, tricking them in part by impersonating an unnamed New York City lawyer.
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September 20, 2024
New York Cannabis Regulator's Chief Equity Officer To Resign
The chief equity officer of New York's Office of Cannabis Management has announced his imminent resignation from the agency, marking the latest high-profile departure to rock the Empire State's marijuana regulator.
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September 20, 2024
NYC Lexus Dealership Snags Partial Win In TCPA Text Suit
A Manhattan Lexus dealership was not using technology that violated the Telephone Consumer Protection Act's ban on autodialers, a New York federal judge has ruled, handing the dealership a partial win in a class action accusing it of bugging noncustomers with unsolicited texts.
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September 20, 2024
BNP Paribas Plugging $5B Into Apollo-Backed Atlas
Private equity giant Apollo and its Atlas SP Partners platform, both advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Friday unveiled a strategic partnership with European Union bank BNP Paribas, led by Cadwalader Wickersham & Taft LLP, that will see the global bank plugging an initial $5 billion investment into the collaboration.
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September 20, 2024
Jewelry Co. Says Target Stole Design Of Blood Drip Necklace
A New York jewelry company accused Target of copying the design of one of its Halloween-themed necklaces for the second time, according to a lawsuit filed Thursday in New Jersey federal court.
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September 20, 2024
Avenatti Seeks Top Court Review Of Daniels ID Theft Verdict
Incarcerated celebrity attorney Michael Avenatti has asked the U.S. Supreme Court to review his conviction for misappropriating money from ex-client Stormy Daniels, claiming the Second Circuit's decision upholding the verdict runs afoul of precedent for identity-theft cases.
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September 20, 2024
NY Mayor Names Seven Judges For State Courts
New York City Mayor Eric Adams has appointed seven new judges to the state's civil, criminal and family courts, all of whom bring years of legal expertise, and a deep commitment to public safety and justice, to the bench.
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September 20, 2024
Mandarin Oriental Can Proceed With COVID Coverage Suit
A New York federal judge declined to toss a COVID-19 business interruption lawsuit by luxury international hotel chain Mandarin Oriental, holding that the chain sufficiently alleged that its loss was caused by an infectious disease under the terms outlined in its "all risks" policy.
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September 20, 2024
Morgan Lewis Hires Sidley Structured Transactions Partner
Morgan Lewis & Bockius LLP announced Friday that it has hired the co-leader of Sidley Austin LLP's residential mortgage-backed securities team to further expand its structured transactions practice in New York.
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September 20, 2024
NY Firm Settles With Chinese Exile Guo's Ch. 11 Trustee
Wildes & Weinberg PC, a New York-based immigration law firm, has penned a confidential settlement with the Chapter 11 trustee overseeing Chinese exile Miles Guo's bankruptcy in Connecticut, a deal that appears to be the first one the trustee struck with a law firm since he began filing clawback actions earlier this year.
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September 20, 2024
Ellenoff Grossman Denied Arbitration In Ex-Atty's Firing Suit
A New York federal judge has sent a former Ellenoff Grossman & Schole LLP associate's suit saying she was fired for protesting sexual harassment back to state court and denied the firm's motion to compel arbitration of the matter.
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September 20, 2024
Caddies Can Keep Their Unpaid Wages Suit On Course
The bag fees caddies received from golfers were tips, not service charges, a New York federal judge ruled, denying a course operator's bid to toss the workers' suit claiming unpaid minimum wage and overtime under federal and state law.
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September 20, 2024
Tribe's Stateless Status Undoes $1.9M Construction Suit
A Massachusetts federal judge on Thursday tossed a New York construction company's $1.9 million lawsuit against the Mashpee Wampanoag Tribe, finding the tribe's stateless position leaves the court with no jurisdiction to decide the case.
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September 20, 2024
Ex-Akin Gump Atty Joins Willkie's Asset Management Dept.
Willkie Farr & Gallagher LLP said this week that a former Akin Gump Strauss Hauer & Feld LLP attorney has joined the 25-partner team in its asset management department, which focuses on private fund formation and liquidity solutions transactions.
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September 19, 2024
Dechert Settles Aviation Exec's Hack Cover-Up RICO Claims
An airline mogul has cut a confidential deal with Dechert and two former partners of the firm to let them off the hook in his sprawling civil Racketeer Influenced and Corrupt Organizations Act lawsuit in New York federal court, the settling parties announced Thursday.
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September 19, 2024
NY Tribe Settles With Lottery Co. Over Gaming On Tribal Land
The Cayuga Nation and New York's licensed mobile lottery provider have reached a settlement in the federally recognized tribe's lawsuit seeking to block the state gaming commission from operating games on tribe's self-proclaimed reservation.
Expert Analysis
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Menendez Corruption Ruling Highlights Attorney Proffer Risks
The recent admission of slides used in a preindictment presentation as evidence during U.S. Sen. Bob Menendez’s corruption trial highlights the potential pitfalls of using visual aids in attorney proffers, and the increasing importance of making disclaimers regarding information presented at the outset of proffers, say Carrie Cohen and Savanna Leak at MoFo.
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What's In NYDFS Guidance On Use Of AI In Insurance
Matthew Gaul and Shlomo Potesky at Willkie summarize the New York Department of Financial Services' recently adopted circular letter on the use of artificial intelligence in insurance underwriting and pricing, and highlight the material changes made to it in response to comments on the draft circular letter.
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2nd Circ. Ruling May Limit Discovery In Int'l Arbitration
The Second Circuit's recent Webuild v. WSP decision, affirming a discovery order's nullification in arbitration between Webuild and the government of Panama, demonstrates courts' unwillingness to find that arbitral tribunals in investor-state cases fall within the scope of the discovery statute, say attorneys at Cleary.
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Eye On Compliance: New Pregnancy And Nursing Protections
With New York rolling out paid lactation breaks and extra leave for prenatal care, and recent federal legislative developments enhancing protection for pregnant and nursing workers, employers required to offer these complex new accommodations should take several steps to mitigate their compliance risks, says Madjeen Garcon-Bonneau at Wilson Elser.
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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NY Ruling Offers A Foreclosure Road Map For Lenders
A New York appellate court recently upheld a summary judgment ruling in favor of a commercial lender's foreclosure in U.S. Bank v. 1226 Evergreen Bapaz, illustrating the proofs lenders will need to prosecute a foreclosure action, especially where the plaintiff is an assignee of the originating lender, say attorneys at Sherman Atlas.
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Ch. 11 Ruling Clarifies Cross-Border 'Alternative A' Scope
A New York bankruptcy court’s recent ruling in airline holding company SAS’s Chapter 11 case — addressing the applicability of Alternative A, which is similar to Section 1110 of the U.S. Bankruptcy Code — is a cautionary tale for contracting European Union member states that have adopted Alternative A domestically but have not made a formal declaration, say attorneys at Pillsbury.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Takeaways From Tossed Deal In Visa, Mastercard Class Action
Given the rejection of a proposed deal in the long-running merchant antitrust class action against Visa and Mastercard in New York federal court, sweetening the proposed settlement pot likely will not be an option, leaving few possible outcomes including splitting the class and allowing opt-outs, say attorneys at Davis Wright.
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What To Know As Children's Privacy Law Rapidly Evolves
If your business hasn't been paying attention to growing state and federal efforts to protect children online, now is the time to start — there is no sign of this regulation slowing down, and more aggressive enforcement actions are to be expected in the coming year, says Susan Rohol at Willkie Farr.
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The Rise Of State And Local Environmental Leadership
While Congress is deadlocked, and a U.S. Supreme Court with a hostility toward the administrative state aggressively dismantles federal environmental oversight, state and local governments are stepping up with policies to shape a more sustainable future for all species, says Jonathan Rosenbloom at Albany Law School.
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A Closer Look At New SDNY And EDNY Local Rules
New local rules in the U.S. District Courts for the Southern and Eastern Districts of New York went into effect earlier this month, and include both stylistic changes to make legal writing more accessible, and substantive changes to make processes and filings more efficient, say Andrew Van Houter and Jennifer Montan at Faegre Drinker.
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Avoiding Legal Ethics Landmines In Preindictment Meetings
U.S. Sen. Bob Menendez's recent bribery conviction included obstruction charges based on his former lawyer's preindictment presentation to prosecutors, highlighting valuable lessons on the legal ethics rules implicated in these kinds of defense presentations, say Steve Miller and Hilary Gerzhoy at HWG.
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Series
Being A Luthier Makes Me A Better Lawyer
When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.