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New York
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June 04, 2024
2nd Circ. Says ERISA Blocks Cigna Bill Backpedaling Suit
The Second Circuit affirmed the dismissal of a podiatric medicine provider's suit alleging Cigna illegally backtracked on covering a patient's $200,000 bill, ruling that a lower court was right to find that federal benefits law blocks the healthcare provider's breach of contract claims.
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June 04, 2024
2 Firms Tapped To Lead Barclays Investor Suit
Kaplan Fox & Kilsheimer LLP and Sperling & Slater LLC have been appointed to co-lead an investor suit accusing Barclays PLC of over-issuing $17 billion of securities.
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June 04, 2024
Amazon Union Moves To Fold Into Teamsters Amid Struggles
The Amazon Labor Union, an independent union representing workers at a warehouse in Staten Island, New York, has taken steps to affiliate with the Teamsters ahead of an election to seat new officers.
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June 04, 2024
'Miles Guo Stole My Money': NY Jury Hears Of Alleged Fraud
A former supporter of exiled Chinese billionaire Miles Guo testified in Manhattan federal court Tuesday that the purported billionaire conned her into investing more than $100,000 in the media company he founded alongside former Donald Trump adviser Steve Bannon, describing Guo's interrelated business ventures as a "mafia."
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June 04, 2024
Netflix Settles Central Park 5 Defamation Case Ahead Of Trial
Netflix has settled a lawsuit alleging one of its docuseries defamed a Manhattan prosecutor who was involved in the Central Park Five case, agreeing Tuesday to donate $1 million to a nonprofit dedicated to preventing wrongful convictions.
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June 04, 2024
Garland Defends DOJ Integrity, Demurs On Justices' Ethics
Attorney General Merrick Garland on Tuesday defended the Department of Justice's independence, deflecting questions about ethics scandals at the U.S. Supreme Court and rejecting Donald Trump's "conspiracy theory" that federal prosecutors were the real force behind his recent conviction.
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June 04, 2024
Kirkland-Led PE Firm Closes Inaugural Fund At Nearly $300M
New York-based private equity shop MFG Partners, led by Kirkland & Ellis LLP, on Tuesday announced that it clinched its inaugural private equity fund after securing nearly $300 million in commitments, which will be used to invest in lower middle market industrial companies.
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June 04, 2024
2nd Circ. Backs TD Bank's Win Over Ex-Manager's Bias Suit
The Second Circuit refused Tuesday to revive a former TD Bank manager's suit claiming he was fired because he suffered from anxiety and had requested parental leave, finding he couldn't overcome the bank's explanation that he was let go because of forgery.
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June 04, 2024
Experian Accuses Firms Of Fake Mortgage Denial Scheme
Credit reporting law firm Stein Saks PLLC headed up a nationwide scheme to "extort" Experian into settling "sham" lawsuits by consumers through creating fake credit denial letters in order to inflate damages and bolster their consumers' suits, according to a federal lawsuit filed by the credit reporting agency.
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June 04, 2024
Vape Distributors Push To Exit NYC E-Cigarette Suit
Two groups of e-cigarette distributors are urging a New York state court to toss claims from New York City alleging they're violating city laws by selling flavored e-cigarettes, saying that the law in question only applies to retail sales, not distributor-to-distributor sales.
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June 04, 2024
Legal Tech Co. Wants Ex-Exec's $1M Stock Suit Out Of NY
A former legal tech executive's lawsuit claiming she was sexually harassed, fired and then cut out of $1 million in stock options should be moved from New York to either Texas or arbitration, or dismissed entirely, her former colleagues said Tuesday, calling the allegations against them "vague and conclusory."
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June 04, 2024
Harris Beach Public Finance Pro Rejoins Holland & Knight
A former Holland & Knight LLP partner has rejoined the firm's national public finance team to find not only that many of his old friends reside on the same floor but also that the firm has added almost 1,000 attorneys since his 2021 departure.
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June 04, 2024
SDNY Shakes Up Its Leadership After 2 Departures
On the heels of former Southern District of New York Deputy U.S. Attorney Andrea Griswold's transition to the partner ranks of Skadden Arps Slate Meagher & Flom LLP, U.S. Attorney for SDNY Damian Williams on Monday announced two newly appointed attorneys to replace her and the office's departed executive assistant U.S. attorney.
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June 04, 2024
Manning Kass Adds 11 Insurance Attys From Morrison Mahoney
Manning & Kass Ellrod Ramirez Trester LLP has expanded its New York roster with a team of 11 attorneys and six paralegals from Morrison Mahoney LLP, saying Tuesday that the hires will bolster its work in insurance fraud and affirmative litigation.
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June 04, 2024
Ex-Lumentum VP Traded On Merger Info, SEC Says
The former vice president of product line management at Lumentum has been accused by the U.S. Securities and Exchange Commission of using nonpublic information about a pending merger to trade stock during his time with the laser products company.
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June 04, 2024
Archegos Jury Note Demands Info After Atty's COVID Absence
A juror hearing the government's $36 billion market manipulation case against Archegos founder Bill Hwang took the unusual step Tuesday of asking if there was "something we are not being told" after COVID-19 sidelined a lawyer and prompted others to don masks.
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June 04, 2024
Tech-Focused Firm Raises $460M Across 2 New Funds
Technology-focused investment firm and holding company WndrCo on Tuesday announced that it secured more than $460 million in new capital across two funds, a seed and a venture fund.
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June 04, 2024
SDNY Taps Nonprofit To Run Clinic For Pro Se Litigants
The City Bar Justice Center announced Tuesday that it has been enlisted to take over the Southern District of New York's 8-year-old legal assistance clinic's services for self-represented litigants, as many low-income Americans face the civil legal system alone.
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June 03, 2024
ChampionX Investor Sues Over $7.8B Deal Proxy
A shareholder of energy technology provider ChampionX Corp. has sued the company and its board of directors in an attempt to enjoin a proposed acquisition by another energy-focused technology company, SLB, alleging that ChampionX filed a deficient proxy statement.
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June 03, 2024
Vietnamese EV Co. Hit With Investor Suit Over SPAC Merger
Vietnamese electric car manufacturer VinFast Auto and several executives have been hit with a proposed class action alleging they exaggerated the strength of VinFast's business model and prospects following a merger with a special-purpose acquisition company last year.
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June 03, 2024
Ex-Official Says Menendez Sparked Fear Of Ag Industry 'Harm'
A former U.S. Department of Agriculture official conceded under cross-examination Monday that a phone call he received from U.S. Sen. Robert Menendez about an acquaintance's certification business for meat exported to Egypt was like dozens he received from lawmakers advocating for their constituents, but he said it still left him worried for the industry.
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June 03, 2024
NY 'No-Fault' Insurance Fraudster Gets 10 Years
A federal judge on Monday sentenced the ringleader of an insurance fraud scheme to the maximum term of 10 years in prison for what prosecutors say was a bribery-fueled, 14-year, $60 million scam that exploited New York's no-fault laws.
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June 03, 2024
Epoch Times CFO Charged With $67M Laundering Scheme
The chief financial officer of the Epoch Times was charged with orchestrating a scheme to launder about $67 million of illicit proceeds to benefit himself and the newspaper, according to an indictment unsealed in New York federal court Monday.
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June 03, 2024
Corcoran Settles Nonprofit's Housing Voucher Bias Suit
A housing rights nonprofit has agreed to drop its housing voucher bias claims against real estate company Corcoran Group, which was accused in New York state court of discriminating against prospective tenants who use federal Housing Choice vouchers.
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June 03, 2024
Trump's NY Gag Orders Likely Lifted With Verdict
Despite claims by former President Donald Trump that he is still limited in what he can say about jurors and witnesses following his guilty verdict, the gag orders imposed on him likely evaporated at the end of the Manhattan trial, lifting a threat of further contempt if he goes on the attack ahead of his sentencing this summer.
Expert Analysis
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Potential Defendant Strategies Amid Calif. Privacy Questions
Although the current case law surrounding the California Consumer Privacy Act is in its infancy, courts have begun addressing important issues related to the notice-and-cure provisions of the statute, and these decisions show defendant-businesses would be wise to assert their notice rights early and repeatedly, say Viola Trebicka and Dan Humphrey at Quinn Emanuel.
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Opinion
White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'
Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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Following Banking Regulators' Breadcrumbs To 2024 Priorities
Through blog posts, speeches, and formal guidance and regulations, prudential and other federal and state financial regulators laid out a road map last year pointing to compliance priorities that should be reflected in financial institutions' planning this year, say Laurel Loomis Rimon and Gina Shabana at Jenner & Block.
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New SDNY Whistleblower Program May Be A Game-Changer
A new pilot program in the U.S. Attorney’s Office for the Southern District of New York promises to immunize from prosecution certain individuals who blow the whistle on financial crimes and corruption, and if similar self-disclosure programs are any indication, this significant new policy may measurably increase white collar investigations, say attorneys at Paul Hastings.
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1869 Case May Pave Off-Ramp For Justices In Trump DQ Fight
In deciding whether former President Donald Trump is disqualified from Colorado's Republican primary ballots, the U.S. Supreme Court could rely on due process principles articulated in a Reconstruction-era case to avert a chaotic or undemocratic outcome, says Gordon Renneisen at Cornerstone Law Group.
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Directors And Officers Face Unique AI-Related Risks
As privacy, intellectual property and discrimination lawsuits focusing on artificial intelligence increase, corporate directors and officers must stay aware of associated risks, including those related to compliance, litigation and cybersecurity, says Jonathan Meer at Wilson Elser.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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The Questions Around Prometheum's SEC-Compliant Strategy
While the rest of the crypto industry has been engaged in a long-running battle to escape the U.S. Securities and Exchange Commission's jurisdiction, a once-obscure startup called Prometheum has instead embraced the SEC's view to become the first crypto special-purpose broker-dealer, but it's unclear whether it can turn its favored status into a workable business, says Keith Blackman at Bracewell.
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NY, Del. May Be Trending Against Noncompete Enforceability
While neither New York nor Delaware has statutory restrictions on noncompete provisions, recent legislative actions and judicial decisions indicate a trend against enforcement of restrictive covenants in both equity award and employment agreements, says Irene Bassock at Cohen Buckmann.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Ex-OpenSea Staffer Case May Clarify When Info Is Property
In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.
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NY Guidelines Bring Clarity To Prepackaged Chapter 11 Cases
The Southern District of New York’s recently adopted guidelines provide bankruptcy practitioners guidance on practical matters pertaining to prepacks, and facilitate the use of prepacks as a tool that can greatly reduce the time, expense and risks of a Chapter 11 case, say Robert Drain and Moshe Jacob at Skadden.