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February 27, 2025
SEC Revives Suit Alleging $4.1M Bogus Mutual Fund Scheme
The U.S. Securities and Exchange Commission on Thursday revived a lawsuit accusing a Lithuanian citizen living in the U.S. of using a series of nonexistent mutual funds to bilk dozens of investors out of roughly $4.1 million.
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February 27, 2025
US Trustee, Creditors Blast GOL Linhas' Plan Disclosure
GOL Linhas noteholders and the U.S. Trustee's Office are asking a New York bankruptcy judge to reject the Brazilian airline's Chapter 11 plan disclosures, saying they lack information on items ranging from claims releases to the company's post-bankruptcy equity value.
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February 27, 2025
Judge Axes NYC Loan Row, Sanctions Firm For Depositions
A New York federal judge has dismissed a commercial real estate lender's claims against two guarantors for a 2022 loan it made, ripping the lender and its ex-counsel, Fox Rothschild LLP, for deposition no-shows.
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February 27, 2025
Lottery.com Investor Suit Over IPO Disclosures Trimmed
A New York federal judge trimmed a consolidated securities suit against third-party lottery website Lottery.com, tossing a handful of alleged misstatements made before its merger with a special purpose acquisition company and claims several of the individual defendants pushed through the merger for their financial gain, among other things.
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February 27, 2025
High Court Asked To Weigh Investors' Eminent Domain Case
A pair of real estate investors want the U.S. Supreme Court to review their loss in New York state appellate court regarding a suit seeking additional compensation for a residential property that the Rochester Genesee Regional Transportation Authority took from them through eminent domain.
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February 27, 2025
SEC Ends Coinbase Case As Uyeda Pledges To 'Rectify' Policy
The U.S. Securities and Exchange Commission confirmed Thursday that it will walk away from its suit against cryptocurrency exchange Coinbase to clear the way for its newly created Crypto Task Force to develop digital asset policy "in a more transparent manner."
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February 27, 2025
Family Denies Role In $81M Son-Of-Boss Tax Scheme
The government failed to prove that former shareholders of a family holding company knew the buyer of their company stock was shorting the IRS nearly $81 million and that they should be on the hook for the taxes, family members told a New York federal court Thursday.
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February 27, 2025
Trump Admin Asks 1st Circ. To Let It Enforce Birthright Ban
President Donald Trump's administration on Thursday asked the First Circuit to let it begin enforcing its executive order restricting birthright citizenship while it appeals a Massachusetts federal judge's preliminary injunction.
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February 27, 2025
Convicted COVID Aid Fraudster Gets 11 Years For $7.6M Plot
A man convicted of conspiring to bilk about $7.6 million from the U.S. Small Business Administration through COVID-19 relief applications submitted in other people's names has been sentenced to 11 years in prison, New York federal prosecutors said Thursday.
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February 27, 2025
Consensys Says SEC Will Drop Its Crypto Case, Too
The founder of blockchain firm Consensys said on Thursday that the U.S. Securities and Exchange Commission has agreed to drop its enforcement suit over the firm's MetaMask software, marking the second cryptocurrency firm this month to announce a coming dismissal from the agency as it overhauls its approach to the industry.
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February 27, 2025
Davis Polk, Kirkland Steer Rithm Capital SPAC's $200M IPO
Special purpose acquisition company Rithm Acquisition Corp., which plans to merge with a company in the financial services or real estate sector, began trading on Thursday after pricing a $200 million initial public offering.
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February 27, 2025
Energy Co. Sued Over Rent, Radioactive Waste Disclosures
A Brooklyn property owner and two companies accused National Grid of owing rent on the site of a former industrial facility and impeding their businesses by not telling them quickly enough that there were radioactive materials there.
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February 27, 2025
Judge Won't Force Victim's Atty's Reports In Sex Assault Case
A Florida state judge on Thursday denied a request by three men, including a real estate broker, facing sexual assault charges to force discovery of reports by the victim's attorney at Morgan & Morgan PA.
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February 27, 2025
How Adams' Latest Move Might Checkmate The DOJ
New York City Mayor Eric Adams' push to permanently dismiss his federal corruption case is a clever legal strategy that appears to have backed the government into a corner, experts say.
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February 27, 2025
Michelman & Robinson Adds Corporate, Real Estate Trio In NY
Michelman & Robinson LLP hired a trio of attorneys from Goulston & Storrs PC, Seyfarth Shaw LLP and Graubard Miller to bolster the firm's transactional and real estate offerings in New York, according to an announcement.
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February 27, 2025
Relator Fights Discovery Ruling In FCA Suit Against AECOM
A whistleblower accusing AECOM of falsely billing the U.S. Army on a $1.9 billion contract urged a New York federal judge to rethink a decision to deny discovery requests, arguing the company improperly withheld information it's now asserting in a summary judgment bid.
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February 27, 2025
IBM Closes $6.4B HashiCorp Deal After UK Nod
IBM said Thursday that it had completed its $6.4 billion acquisition of infrastructure automation company HashiCorp, just two days after U.K. regulators disclosed that the deal had their green light.
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February 27, 2025
Underdog Sports Runs Disguised Betting Platform, Suit Says
Four users of Underdog Sports, which does business as Underdog Fantasy, have sued the company in New York federal court, alleging it is running an unlicensed sports betting site disguised as a platform for fantasy sports.
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February 26, 2025
SEC Wants To Pause Fraud Suit Against Tron Founder
The U.S. Securities and Exchange Commission on Wednesday asked a New York federal court to pause its fraud suit against the founder of blockchain network Tron Foundation, joining the growing list of cryptocurrency cases being abandoned or sidelined under the new Trump administration.
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February 26, 2025
USDA Unlawfully Purged Climate Info, Advocacy Groups Say
The U.S. Department of Agriculture has illegally erased scores of data-rich webpages focused on climate change from its websites in a sudden action that denies farmers access to essential information as the country faces extreme weather patterns, according to a lawsuit filed in New York federal court.
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February 26, 2025
NY Investment Firm Founder Charged With $4M Fraud
The founder of investment firm Never Alone Capital LLC was hit with parallel criminal and civil suits on Wednesday from the Manhattan district attorney and the U.S. Securities and Exchange Commission, alleging he ran a fraudulent scheme that raised approximately $4 million from investors, most of which he then misappropriated for personal use.
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February 26, 2025
2nd Circ. Won't Revive Federal Claims In Uniswap Crypto Suit
The Second Circuit affirmed Wednesday that Uniswap Labs and its venture capital backers can't be held liable under federal securities law for the sale of so-called scam tokens on the decentralized Uniswap exchange, but directed the New York federal judge who tossed the buyers' suit to take another look at their state law claims.
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February 26, 2025
Bowlero Strikes California Bowling With Contract Breach Suit
Bowling giant Bowlero, which owns and operates the Professional Bowlers Association, has filed a breach of contract suit against California Bowling LLC in New York federal court, alleging that the Texas-based bowling company tried to terminate an agreement more than a year before it expired and that it owes Bowlero nearly $300,000.
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February 26, 2025
38 AGs Push For Crackdown On Organized Retail Crime
A bipartisan coalition of attorneys general from 38 states and territories is urging Congress to take legislative action against organized retail crime, warning in a new letter that the problem has reached unprecedented levels and is straining state enforcement resources.
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February 26, 2025
Simpson Thacher Guides $1B Real Estate Secondaries Fund
Neuberger Berman, an investment management firm advised by Simpson Thacher & Bartlett LLP, has capped its second real estate private equity secondary fund at $1.05 billion, surpassing its target by $200 million, according to a Wednesday announcement.
Expert Analysis
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Wage Whiplash: Surviving A Compliance Roller Coaster
As the transition to the Trump administration causes mounting uncertainty about federal wage and hour policies, employers can transform compliance challenges into opportunities for resilience and growth by taking key steps to comply with stricter state and local requirements, says Lee Jacobs at Barclay Damon.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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Marketing Messages Matter In State AG Consumer Protection
Attorneys general interpret marketing claims far more broadly than many companies may realize, so to mitigate potential risk, businesses should be vigilant about all consumer messaging, including communications that may not traditionally be considered advertising in the colloquial sense, say attorneys at Cozen O'Connor.
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7th Circ. Ruling Muddies Split On Trade Secret Damages
The Seventh Circuit's recent endorsement in Motorola v. Hytera of a Second Circuit limit on avoided-cost damages under the Defend Trade Secrets Act contradicts even its own precedents, and will further confuse the scope of a developing circuit conflict that the U.S. Supreme Court has already twice declined to resolve, says Jordan Rice at MoloLamken.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Implications Of NY Climate Case For Generating Facilities
Regardless of how Greenidge Generation LLC v. New York Department of Environmental Conservation develops on remand, this decision has immediate repercussions for generating facilities seeking permit applications and renewals in New York, likely involving Climate Leadership and Community Protection Act considerations, say attorneys at Hodgson Russ.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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AV Compliance Is Still A State-By-State Slog — For Now
While the incoming Trump administration has hinted at new federal regulations governing autonomous vehicles, for now, AV manufacturers must take a state-by-state approach to compliance with safety requirements — paying particular attention to states that require express authorization for AV operation, say attorneys at Frost Brown.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Why State Captive Audience Laws Matter After NLRB Decision
As employers focus on complying with the National Labor Relations Board's new position that captive audience meetings violate federal labor law, they should also be careful not to overlook state captive audience laws that prohibit additional types of company meetings and communications, says Karla Grossenbacher at Seyfarth.
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A Closer Look At SDNY Bankruptcy Rule Amendments
The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.
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How Litigation, Supply Chains Buffeted Offshore Wind In 2024
U.S. offshore wind developers continue to face a range of challenges — including litigation brought by local communities and interest groups, ongoing supply chain issues, and a lack of interconnection and transmission infrastructure — in addition to uncertainty surrounding federal energy policy under the second Trump administration, say attorneys at Liskow & Lewis.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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The Malpractice Perils Of Elder Abuse Liability
Recent cases show that the circumstances under which an attorney may be sued for financial elder abuse remain unsettled, but practitioners can avoid these malpractice claims altogether by taking proactive steps, like documenting the process of evaluating a client's directives under appropriate standards, says Edward Donohue at Hinshaw & Culbertson.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.