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October 18, 2024
Consultant Ducks Prison For Helping OneCoin Launder $35M
A New York federal judge declined on Friday to sentence a co-founder of business consultancy and investment firm InterAmerican Group to any time in prison for his role in a scheme to launder about $35 million in proceeds from the multibillion-dollar OneCoin cryptocurrency scam.
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October 18, 2024
NY County Says Tribe Wants Special Treatment In 911 Row
New York's Cayuga County has asked a federal court to dismiss the Cayuga Nation's lawsuit accusing it and another county of refusing to forward 911 calls happening on tribal land to the tribe's police department without payment, saying it doesn't owe the tribe special treatment.
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October 18, 2024
Credit Suisse, PwC Fight Bondholders' Separate Merger Suits
Credit Suisse and PwC have urged a New York federal judge to toss a proposed class action alleging that they concealed the impact of quarterly losses and the bank's inability to retain client funds leading up to its takeover by UBS AG, saying the plaintiff launched the suit to circumvent its rejected bid to be lead plaintiff in a similar suit.
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October 18, 2024
Judge Tosses Ex-Cushman & Wakefield GC's Defamation Suit
An Illinois federal judge on Friday threw out a defamation lawsuit brought by the former general counsel of real estate firm Cushman & Wakefield over a Law.com article written about his departure, which he claimed made it seem like he had been fired for his job performance.
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October 18, 2024
Crypto Coder Asks 2nd Circ. To Delay Expert Witness Reveal
The founder of cryptocurrency service provider Tornado Cash urged the Second Circuit on Friday to pause a district court judge's order for him to disclose who he might call as an expert witness at an upcoming money laundering and sanctions trial.
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October 18, 2024
Feds Defend Bribery Charge Against NYC Mayor Adams
Federal prosecutors pushed back Friday on New York City Mayor Eric Adams' attempt to erase a bribery charge from his indictment, arguing that while Adams claims his acts were "routine" and allowed under a recent U.S. Supreme Court precedent, a jury could still find his alleged favor trading illegal.
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October 18, 2024
AGs Slam 4th Circ. Bid To Restore NC Abortion Drug Limits
In a joint amicus brief to the Fourth Circuit, a coalition of 17 states and the District of Columbia has said the abortion drug mifepristone is a part of women's reproductive healthcare, assailing the "needless" limits that states including North Carolina have sought to impose on the drug's access.
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October 18, 2024
Dick's Sporting Goods Escapes NY Apparel Co.'s $8M TM Suit
A New York-based sports apparel company has dropped its $8 million federal lawsuit accusing Dick's Sporting Goods of infringing its registered logo featuring an infinity symbol.
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October 18, 2024
NYC Building Sold After Losing Half Of Tenants To Ch. 11
A historic mixed-use building in New York City's Chelsea neighborhood that was ravaged by the bankruptcies of two major tenants has been acquired and recapitalized by a partnership of RXR Realty and Hudson Bay Capital through a $421 million financing package from Blackstone, the buyers announced Friday.
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October 18, 2024
NY State Court System Escapes Ex-Employee's Bias Suit
A federal judge has given the New York State Unified Court System a summary judgment win in a bias suit filed by a former court clerk who is a Hindu, ruling that the ex-employee didn't show that religious discrimination was a motive for denying her leave or her firing.
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October 18, 2024
Class Sues Fisher-Price Over Swing Linked To 5 Deaths
A proposed class of parents is suing Fisher-Price Inc. and its parent company Mattel Inc. over an infant swing recalled last week after five infants died while using it to sleep, alleging that the recall is inadequate and that the company failed to disclose the risks.
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October 18, 2024
Feds Win 1st Trial In Sprawling NYC Housing Bribery Case
A former New York City Housing Authority superintendent was convicted of taking bribes to award no-bid contracts, handing federal prosecutors a win in the first trial in a case that saw 70 defendants arrested earlier this year.
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October 17, 2024
Indian Official Charged In Plot To Assassinate NYC Atty
New York federal prosecutors on Thursday unveiled murder-for-hire and money laundering charges against an Indian foreign intelligence official they claim orchestrated a plot to assassinate a New York City attorney connected to a Punjab political revolution.
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October 17, 2024
SEC Fines Broker-Dealer PHX, Sues Rep Over Reg BI Claims
The U.S. Securities and Exchange Commission has fined broker-dealer PHX Financial Inc. and sued one of its registered representatives over claims that the representative improperly advised a handful of retail clients to engage in a trading strategy that caused them massive losses but generated significant fees and commissions for the firm and the representative.
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October 17, 2024
Trump Media Investors Get Prison For Insider Trading
A New York federal judge on Thursday sentenced a Florida venture capitalist to over two years in prison for insider trading on confidential plans to take the media company behind former President Donald Trump's Truth Social network public, a scheme that netted the investor and his brother nearly $23 million.
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October 17, 2024
CFPB Sues Vocational School Lender Climb Credit, VC Backer
The Consumer Financial Protection Bureau on Thursday sued an online private student lender and its venture capital backer in New York federal court, alleging borrowers have been duped into taking out loans for coding school and other vocational programs with false claims about their educational "return-on-investment."
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October 17, 2024
No Fraud In $195M Natural Gas Feud, Court Hears
A Portuguese electricity and gas provider that won a $195 million arbitral award against a Spanish natural gas company has opposed its discovery motion as it looks to vacate the award on fraud claims following their dispute over a liquefied natural gas swap transaction.
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October 17, 2024
How Muhammad Ali's Ex-Photog Won $2.7M From Brand Co.
When Muhammad Ali's former personal photographer brought a copyright suit against a powerful brand management company, his attorneys faced a daunting challenge at trial: How can they convince jurors that Authentic Brands Group was liable for willful infringement?
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October 17, 2024
NY High Court Finds Transportation Official Liable For Crash
New York's highest court on Thursday revived a suit accusing a town transportation official of negligently causing an auto collision, saying the official is clearly liable for negligent driving and can't claim immunity because he wasn't doing actual work at the time of the crash.
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October 17, 2024
Amgen Faces Derivative Suit In Del. Over Tax Disclosures
An Amgen Inc. stockholder has sued the company in Delaware's Court of Chancery seeking derivative recoveries for the multinational biopharmaceutical company from its directors and officers based on allegedly false and misleading statements regarding $10.7 billion in federal tax bills and penalties.
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October 17, 2024
DOJ Defends States' Right To Recoup Live Nation Overcharges
The federal government and 40 states are urging a New York federal court not to trim their antitrust case against Live Nation, arguing that states have the right to go after overcharges customers allegedly paid for concert tickets and also defending a tying claim based on venues and promotion services.
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October 17, 2024
$20B Verizon-Frontier Deal Faces Scrutiny, And Other Rumors
A growing list of Frontier Communications' largest shareholders are concerned about its planned $20 billion takeover by Verizon Communications, and a group of former professional athletes are in talks to buy a stake in the NFL's Buffalo Bills. Here, Law360 breaks down these and other notable rumors from the past week.
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October 17, 2024
NYC Art Adviser Admits Defrauding Clients Of $6.5M
A well-known Manhattan art adviser pled guilty in New York federal court Thursday to fleecing her clients of $6.5 million through transactions related to about 55 pieces of art.
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October 17, 2024
FTX Insider Cites 'Limited' Fraud Role In Bid To Avoid Prison
The former head of engineering at FTX asked a Manhattan federal judge to spare him prison time in light of his cooperation with prosecutors and what he said was a relatively "limited" role in the crypto exchange's billion-dollar fraud.
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October 17, 2024
A&O Shearman Practice Head Joins Simpson Thacher In NY
Simpson Thacher & Bartlett LLP announced Thursday the firm added the co-head of A&O Shearman's compensation, employment and governance group as a partner based in its New York office, touting the experience she has handling transaction-related compensation and benefits matters.
Expert Analysis
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Keeping Up With Class Actions: A New Era Of Higher Stakes
Corporate defendants saw unprecedented settlement numbers across all areas of class action litigation in 2022 and 2023, and this year has kept pace so far, with three settlements that stand out for the nature of the claims and for their high dollar amounts, says Gerald Maatman at Duane Morris.
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5 Climate Change Regulatory Issues Insurers Should Follow
The climate change landscape for insurers has changed dramatically recently — and not just because of the controversy over the U.S. Securities and Exchange Commission's climate-related risk disclosure rules, says Thomas Dawson at McDermott.
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Justices Clarify FAA But Leave Behind Important Questions
The U.S. Supreme Court's decision last month in Bissonnette v. LePage firmly shuts the door on any argument that the Federal Arbitration Act's Section 1 exemption is limited to transportation workers whose employers transport goods on behalf of others, but two major issues remain unresolved, say Joshua Wesneski and Crystal Weeks at Weil.
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Is The Digital Accessibility Storm Almost Over?
Though private businesses have faced a decadelong deluge of digital accessibility complaints in the absence of clear regulations or uniformity among the courts, attorneys at Epstein Becker address how recent federal courts’ pushback against serial Americans with Disabilities Act plaintiffs and the U.S. Department of Justice’s proposed government accessibility standards may presage a break in the downpour.
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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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How Courts Are Interpreting Fed. Circ. IPR Estoppel Ruling
In the year since the Federal Circuit’s Ironburg ruling, which clarified the scope of inter partes and post-grant review estoppel, district court decisions show that application of IPR or PGR estoppel may become a resource-intensive inquiry, say Whitney Meier Howard and Michelle Lavrichenko at Venable.
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2nd Circ. Eminent Domain Ruling Empowers Municipalities
The Second Circuit's recent decision in Brinkmann v. Town of Southold, finding that a pretextual taking does not violate the Fifth Amendment's takings clause, gives municipalities a powerful tool with which to block unwanted development projects, even in bad faith, say James O'Connor and Benjamin Sugarman at Phillips Lytle.
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NY Tax Talk: Primary Function Is Key Analysis For Sales Tax
Two sales tax cases recently decided by New York's Appellate Division illustrate why both taxpayers and the state's Department of Revenue subscribe to the primary function test, a logical way to determine whether business transactions are subject to sales tax, say Elizabeth Cha and Jeremy Gove at Eversheds Sutherland.
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Notable Q1 Updates In Insurance Class Actions
Mark Johnson and Mathew Drocton at BakerHostetler discuss notable insurance class action decisions from the first quarter of the year ranging from salvage vehicle titling to rate discrimination based on premium-setting software.
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Opinion
Viral Deepfakes Of Taylor Swift Highlight Need For Regulation
As the nation grapples with addressing risk from artificial intelligence use, the recent circulation of AI-generated pornographic images of Taylor Swift on the social platform X highlights the need for federal legislation to protect nonconsenting subjects of deepfake pornography, say Nicole Brenner and Susie Ruiz-Lichter at Squire Patton.
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Opinion
Time To Fix NYC's Broken Property Assessment System
A New York appellate court's decision to revive Tax Equity Now New York v. City of New York may force the city to revamp its outdated and unfair real estate tax assessment system, which could be fixed with a couple of simple changes, says Seth Feldman at Romer Debbas.
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Social Media Free Speech Issues Are Trending At High Court
The U.S. Supreme Court's recent decision examining what constitutes state action on social media can be viewed in conjunction with oral arguments in two other cases to indicate that the court sees a need for more clarity regarding how social media usage implicates the First Amendment, say attorneys at Kean Miller.
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Tylenol MDL Highlights Expert Admissibility Headaches
A New York federal court's decision to exclude all plaintiff experts in a multidistrict litigation concerning prenatal exposure to Tylenol highlights a number of expert testimony pitfalls that parties should avoid in product liability and mass tort matters, say Rand Brothers and Courtney Block at Winston & Strawn.
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Bankruptcy Ruling Shifts Lease Rejection Claim Calculation
A New York federal court’s recent ruling in In re: Cortlandt provides guidance on how to calculate a landlord's damages claim when a bankruptcy debtor rejects a lease, changing from an approach that considers the remaining rent due under the lease to one that considers the remaining time, say Bethany Simmons and Noah Weingarten at Loeb & Loeb.
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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.