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October 31, 2024
2nd Circ. Draws BDO Back In Investor Suit In Revised Opinion
The Second Circuit on Thursday reversed course in an amended opinion about an investor suit over financial restatements made by AmTrust Financial Services Inc., finding that auditor BDO USA LLP is not off the hook for certifying the insurer's financial statements.
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October 31, 2024
Ex-Citadel Reps Can't Escape Trade Secrets Suit
A New York federal judge has greenlighted most claims in Citadel Securities' lawsuit accusing a Swiss cryptocurrency trading firm founded by two of its former employees of stealing its trade secrets, while tossing those asserted against the firm's French angel investor for lack of jurisdiction.
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October 31, 2024
Ex-Trump Atty Chesebro's Law License Suspended In NY
Kenneth Chesebro's law license was suspended in New York State on Thursday over his role supporting former President Donald Trump's alleged efforts to overturn Georgia's 2020 election results, with the suspension a result of his guilty plea last year for conspiracy to commit filing false documents.
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October 31, 2024
2nd Circ. Says Naturalized Citizens Owed Adequate Counsel
The full Second Circuit determined Thursday that a naturalized U.S. citizen considering whether to enter a guilty plea has a constitutional right to be advised by counsel that they may lose their citizenship as a result.
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October 31, 2024
IP Forecast: Another Apple Watch Trial Kicks Off In California
Apple and Masimo will face off next week in their long-running feud over whether the tech giant misappropriated Masimo's trade secrets for some of the health-monitoring features used in newer versions of the Apple Watch. Here's a spotlight on that case — plus all the other major intellectual property matters on deck in the coming week.
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October 31, 2024
NY Court Urged To Reject 'Audacious' Shareholder Test Cases
Leading business groups have come to the aid of Bayer AG and Barclays PLC as the companies seek to fend off a pair of "audacious" test cases that have landed in New York's highest court, with the groups arguing that allowing the lawsuits to move forward would flood the state court with derivative lawsuits against foreign companies and overturn decades of precedent.
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October 31, 2024
Drug Cos. To Pay $49M For State-Led Generic Pricing Claims
A contingent of state-level enforcers reached settlements totaling $49.1 million on Thursday with Heritage Pharmaceuticals Inc. and Apotex Corp. for their alleged part in a wide-ranging conspiracy to inflate the price of generic drugs.
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October 31, 2024
Scott + Scott Sues Robins Kaplan For $5M In Swipe Deal Fees
Scott + Scott Attorneys at Law LLP alleged in a New York state court lawsuit that Robins Kaplan LLP, its co-counsel in antitrust litigation over Visa Inc. and Mastercard's interchange fees, is withholding $5 million in promised payouts from the case's $5.6 billion settlement.
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October 31, 2024
Masimo Sues Ex-CEO Over 'Unprecedented' $450M Demand
Masimo Corp. has sued its founder in Delaware Chancery Court, seeking a declaration that a $450 million payout triggered in part by the founder's loss of control or his ouster as CEO and chairman is unenforceable, saying the amount is "unprecedented" and shouldn't be paid by shareholders who were simply exercising their voting rights.
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October 31, 2024
Dealer Who Aided Feds In Daycare Death Case Gets 30 Years
A Manhattan federal judge on Thursday sentenced a Bronx man to 30 years in prison for helping to distribute fentanyl out of a daycare in an operation that left a 1-year-old dead, but credited his decision to assist in capturing another defendant.
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October 31, 2024
Purdue Gets More Time For Deal, 'Substantial' Progress Made
Bankrupt OxyContin maker Purdue Pharma LP on Thursday won more time to continue mediating a new settlement with its owners — certain members of the Sackler family — and reported that it is nearing a deal, in a bid to avoid having one of the most complex Chapter 11 cases in U.S. history tumble into a litigation free-for-all.
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October 31, 2024
A Boeing Space Exit, $3B Hot Dogs And More Deal Rumors
Like the two astronauts currently stranded on the International Space Station, Boeing is reportedly looking to get out of space — by exiting its NASA business. In earthly news, foreign meat companies are reportedly eyeing popular hot dog brand Oscar Mayer at a price tag that could approach an arguably gluttonous $3 billion, and Blackstone could shell out five big ones — $5 billion, that is — for a cellphone infrastructure business. Here, Law360 breaks down these and other deal rumors from the past week.
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October 31, 2024
2nd Circ. Backs GE's Win In Ex-Exec's Benefits Denial Suit
The Second Circuit affirmed the dismissal Thursday of a former General Electric executive's suit claiming the company should have awarded her pension and stock benefits when it moved her into an independent contractor role, ruling that her claims were filed too late.
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October 31, 2024
CBS Escapes Ex-Employee's Vaccine Bias Suit
CBSViacom/Paramount beat a former employee's lawsuit claiming she was fired because she requested a medical exemption to the company's COVID-19 vaccination policy, with a New York federal judge ruling she failed to fix errors previously identified by the court.
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October 31, 2024
Textbook Cos. Fight To Keep Google Pirated Books Suit Alive
Several textbook publishers have urged a Manhattan federal judge to keep their copyright and trademark infringement suit against Google intact, alleging the tech giant has profited from the sale of pirated textbooks it advertises in searches, contrary to the company's assertions.
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October 31, 2024
NFL Legend Barry Sanders Hit With Copyright Suit
Famed former Detroit Lions running back Barry Sanders is the subject of a new copyright infringement lawsuit, with the same professional photographer who is separately suing the NFL team and other entities over the same alleged misuse of a copyrighted photo.
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October 31, 2024
Web Designer Who Built IcomTech Ponzi Site Gets 8 Years
A Manhattan federal judge on Thursday hit a California website designer with eight years in prison for his role in building online properties that made it look as if the $58 million IcomTech cryptocurrency Ponzi scheme was legitimate.
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October 31, 2024
Combs 'Grasping At Straws' In Leak & Gag Motions, Feds Say
Manhattan federal prosecutors rejected Sean "Diddy" Combs' arguments that his sexual assault accusers should be forbidden from speaking out and that the government had leaked grand jury secrets, saying his motions lack evidence or any proper legal basis.
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October 31, 2024
King & Spalding Atty Joins Mayer Brown's Private Credit Team
Mayer Brown LLP has tapped a King & Spalding LLP partner to oversee its private credit practice in New York, saying Thursday that his hiring will solidify its place in the New York market as a destination for finance transactions.
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October 31, 2024
6th Circ. Judge Frets Tech Updates May Stymie Class Actions
Sixth Circuit judges closely questioned Thursday whether claims about faulty automatic braking systems in certain Nissan cars should proceed as a class action or if different software versions divide the class irreconcilably, prompting one judge to wonder about the case's implications for an age of ubiquitous software updates.
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October 31, 2024
Lowenstein Sandler Snags Another VC Pro From Boutique
Lowenstein Sandler LLP has added a New York City lawyer from prominent boutique corporate law firm Buhler Duggal & Henry LLP to its emerging companies and venture capital group, the firm announced.
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October 31, 2024
The 2024 Law360 Pulse Leaderboard
Check out the Law360 Pulse Leaderboard to see which firms made the list of leaders in all-around excellence this year.
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October 31, 2024
Firms' Hiring Strategies Are Evolving In Fight For Top Spot
Competition for top talent among elite law firms shows no signs of slowing down, even amid economic uncertainty, with financially strong firms deploying aggressive strategies to attract and retain skilled professionals to solidify their market position.
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October 30, 2024
TD Bank Hit With Suit Over 'Cash-Like' Advance Loans
TD Bank was hit with a proposed class action accusing the bank of violating its cardholder agreement by considering undisclosed transactions "cash-like," and keeping the policies around what is considered a cash advance hidden from consumers while charging fees and interest.
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October 30, 2024
Ex-Ford Models CEO Can't Arbitrate Sex Misconduct Suit
A California appeals court won't let the former CEO of Ford Models send a woman's suit brought under a state sex trafficking law to arbitration, saying her allegations don't fall within the scope of the arbitration agreement she signed.
Expert Analysis
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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How NY Co-Ops Can Minimize Sale Rejections Based On Price
New York co-op sales are regularly rejected for being below undisclosed price minimums, and co-op boards should address this problem by sharing information more transparently and allowing some flexibility for below-market sales, say Pierre Debbas and Seth Feldman at Romer Debbas.
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Best Practices For Chemical Transparency In Supply Chains
A flurry of new and forthcoming regulations in different jurisdictions that require disclosure of potentially hazardous substances used in companies' products and processes will require businesses to take proactive steps to build chemical transparency into their supply chains, and engage robustly and systematically with vendors, says Jillian Stacy at Enhesa.
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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5 Steps To Navigating State Laws On Healthcare Transactions
As more states pass legislation requiring healthcare-transaction notice, private equity investors and other deal parties should evaluate the new laws and consider ways to mitigate their effects, say Carol Loepere and Nicole Aiken-Shaban at Reed Smith.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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High Court's BofA Ruling Leaves State Preemption Questions
A recent U.S. Supreme Court decision in Cantero v. Bank of America sheds light on whether certain state banking regulations apply to federally chartered banks, but a circuit split could still force the Supreme Court to take a more direct position, says Brett Garver at Moritt Hock.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
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Deciphering SEC Disgorgement 4 Years After Liu
Since the U.S. Supreme Court’s 2020 decision in Liu v. U.S. Securities and Exchange Commission to preserve SEC disgorgement with limits, courts have continued to rule largely in the agency’s favor, but a recent circuit split over the National Defense Authorization Act's import may create hurdles for the SEC, say attorneys at Ropes & Gray.
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Playing The Odds: Criminal Charges Related To Sports Betting
In light of recent sports betting scandals involving MLB player Shohei Ohtani and NBA player Jontay Porter, institutions and individuals involved in athletics should be aware of and prepared to address the legal issues, including potential criminal charges, that sports gambling may bring to their door, say attorneys at Steptoe.
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Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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Unpacking NY's Revised Hospital Cybersecurity Rule Proposal
The New York State Department of Health's recently revised hospital cybersecurity rule proposal highlights increased expectations and scrutiny around cybersecurity in the healthcare sector, while adapting to both recent industry developments and public comments, say Christine Moundas and Gideon Zvi Palte at Ropes & Gray.
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Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.