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New York
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August 21, 2024
Alleged WeWork Fraudster Fires Dickinson Wright Before Trial
Lawyers from Dickinson Wright PLLC told a New York federal judge on Wednesday that they have been discharged by the former CEO of real estate investment firm ArciTerra ahead of his October trial for issuing a bogus $77 million offer for WeWork shares.
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August 21, 2024
Photographer, De La Hoya Co. End Lennox Lewis Pic Bout
A photographer who sued a promotion business owned by boxer Oscar de la Hoya for using a picture of Lennox Lewis without his permission has reached a settlement, according to a letter sent to the New York federal judge overseeing the case.
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August 21, 2024
Judge Says Debtor Plan Will Get Hearing In Eletson Ch. 11
A New York bankruptcy judge Wednesday said he will give a hearing to all three Chapter 11 plans proposed for shipping company Eletson Holdings, rejecting arguments that the creditor voting results spell the end of Eletson's proposal.
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August 20, 2024
Vans, MSCHF Settle 'Wavy Baby' Sneaker TM Suit
Vans told a New York federal judge Tuesday that it resolved its trademark suit lodged over artist collective MSCHF's Wavy Baby sneaker, urging the court to approve an agreed-upon permanent injunction barring the collective from using Vans' side stripe mark and other elements of its decades-old Old Skool shoes.
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August 20, 2024
SEC Fines Equiniti Trust After Cyberattacks Stole $6.6M
New York-based Equiniti Trust Co. has agreed to pay a $850,000 fine over claims it did not safeguard clients' funds from two cyber intrusion incidents that resulted in over $6 million in total losses, the U.S. Securities and Exchange Commission announced Wednesday.
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August 20, 2024
Ex-Goldman Analyst's Stepbro Ducks Prison For Inside Trades
A Long Island man on Tuesday was spared time in prison for his role in an insider scheme in which he traded on tips gleaned from his stepbrother and ex-Goldman Sachs analyst, largely due to his prompt cooperation with the FBI.
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August 20, 2024
Yale Health Liable For 840,000-Patient Data Breach, Suit Says
Yale New Haven Health, one of Connecticut's largest medical groups, is liable to 840,000 patients whose private records were hacked by the notorious online crime group Clop, a proposed class action lawsuit filed in Connecticut state court has alleged.
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August 20, 2024
Latham To Require 4 In-Person Days Per Week In NYC Office
Latham & Watkins LLP confirmed Tuesday that it is rolling out a new policy requiring its attorneys in New York City to work from the office at least four days a week starting in the new year.
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August 20, 2024
PleasrDAO Wants Shkreli To Hand Over Wu-Tang Clan Album
The cryptocurrency project that now owns a one-of-a-kind Wu-Tang Clan album has urged a New York federal judge to order Martin Shkreli to hand over any copies he made of the album while he possessed it since the album's value "depends almost entirely on its uniqueness, and the secrecy that surrounds it."
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August 20, 2024
Insider Trading Won't Impact Pilot's Tax Sentencing Guidelines
A Manhattan federal judge found Tuesday that insider trading allegations won't bump up the guidelines sentencing range for a pilot for U.K. billionaire Joe Lewis who pled guilty to tax evasion.
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August 20, 2024
Greenspoon Marder Boosts Litigation Bench With 4 New Attys
Greenspoon Marder LLP announced Tuesday that it is growing its litigation capabilities with two partners and two associates in its expanding New York office.
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August 20, 2024
ETF, Crypto Pro Joins Goodwin After 3 Years At Vedder Price
An exchange-traded funds practitioner with a background in digital assets is joining Goodwin Procter LLP's investment management group in New York after a little more than three years with Vedder Price PC, the firm announced Monday.
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August 20, 2024
BigLaw Firm Sues Feds For Halkbank Cooperator Docs
Halkbank's criminal defense lawyers at Williams & Connolly LLP are suing U.S. immigration authorities in search of documents related to businessman Reza Zarrab, who pled guilty and cooperated with prosecutors in their pending case alleging that the Turkish state-owned lender laundered proceeds of Iranian oil.
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August 20, 2024
A Deep Dive Into Law360 Pulse's 2024 Women In Law Report
The legal industry continues to see incremental gains for female lawyers in private practice in the U.S., according to a Law360 Pulse analysis, with women now representing 40.6% of all attorneys and 51% of all associates.
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August 20, 2024
These Firms Have The Most Women In Equity Partnerships
The legal industry still has a long way to go before it can achieve gender parity at its upper levels. But these law firms are performing better than others in breaking the proverbial glass ceiling that prevents women from attaining leadership roles.
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August 20, 2024
Catching Up With Delaware's Chancery Court
A nearly record-breaking attorney fee got the nod in Delaware last week, along with Chancery Court settlements involving an international private jet service and a chain of trampoline parks. New disputes involved a famous burger restaurant chain, a computer-chip maker, a now-defunct genomic science company, and a historic manor house in west London.
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August 20, 2024
Broadcasters Fight Blockage Of Sports Streaming Megadeal
ESPN, Fox and Warner Bros. Discovery have petitioned the Second Circuit to allow their "sports-first" broadcasting service Venu to move ahead while they face antitrust litigation from streamer Fubo, which blocked Venu's launch last week.
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August 20, 2024
Clifford Chance 'In Shock' Over Missing Partner
Clifford Chance said Tuesday that it is "in shock and deeply saddened" that a partner is among six passengers missing from a yacht that was reportedly chartered to celebrate the legal victory of technology entrepreneur Mike Lynch.
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August 20, 2024
Menendez, Co-Defendants Seek Acquittal After Guilty Verdicts
Convicted U.S. Sen. Robert Menendez and two of his co-defendants want their guilty verdicts thrown out, telling a New York federal judge the government failed to offer any evidence of how the senator used his office's power to benefit any of the alleged bribe givers.
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August 19, 2024
TPG Dumped Opioid Co. On 'Unsuspecting' Endo, Suit Says
After pushing Par Pharmaceutical to grow its market share in generic opioids and disregard federal requirements to report suspicious orders, TPG Capital saw other opioid manufacturers being inundated with litigation and sold Par to "an unsuspecting" Endo International PLC, according to a lawsuit filed in New York bankruptcy court.
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August 19, 2024
10 States Join DOJ's Antitrust Case Against Live Nation
The U.S. Department of Justice said Monday that it has updated the government's case accusing Live Nation of violating antitrust law through its control over the live entertainment industry to add 10 new states and claims for damages.
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August 19, 2024
Deutsche Bank Moved Money For ISIS, Victims' Families Say
Families of two journalists and an aid worker captured and killed by the Islamic State sued Deutsche Bank AG in New York federal court for allegedly facilitating the financing of the terrorist group, a case that comes on the 10th anniversary of the death of journalist James Foley.
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August 19, 2024
Disney, Miramax Can't Escape NY Weinstein Sex Assault Suit
A New York state judge on Monday declined to dismiss an actress's claims against The Walt Disney Co., its subsidiary Miramax Film NY LLC and Creative Artists Agency LLC over an alleged sexual assault by disgraced film executive Harvey Weinstein.
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August 19, 2024
MOVEit MDL Judge's Call For Order Met With Atty Squabbles
A federal judge's effort to streamline multidistrict litigation over a 2022 data breach involving Progress Software's MOVEit file transfer tool instead led to a lengthy and contentious joint filing in which the parties accused one another of gamesmanship.
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August 19, 2024
2nd Circ. Keeps Macquarie Suit Alive After High Court Remand
The Second Circuit on Monday once again greenlighted an investor lawsuit accusing Macquarie Infrastructure Corp. of hiding the expected impact of a high-sulfur fuel ban on its oil storage business, saying that the U.S. Supreme Court's recent decision in Macquarie's favor had little impact on the circuit court's earlier ruling that the case should move forward.
Expert Analysis
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What FTX Case Taught Us About Digital Asset Recoverability
FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.
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'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed
A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Will Texas Stock Exchange Provide Regulatory Haven?
While the newly proposed Texas Stock Exchange may represent a market reaction to increasingly complex regulations, those looking to list on a national securities exchange should consider that their choice of an exchange may not relieve them of some of the most burdensome public company requirements, say Elizabeth McNichol and Ryan Lilley at Katten.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
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Keys To Strong Parking, Storage Contracts For NYC Buildings
Drafting and enforcing unambiguous parking and storage unit license agreements are essential tasks for co-op and condo boards in New York City, with recent cases highlighting how prudent terms can minimize potential headaches, say Matthew Eiben and Adam Lindenbaum at Rosenberg & Estis.
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Best Text Practices In Light Of Terraform's $4.5B Fraud Deal
Text messages were extremely important in a recent civil trial against Terraform Labs, leading to a $4.5 billion settlement, so litigants in securities fraud cases need to have robust mobile data policies that address the content and retention of messages, and the obligations of employees to allow for collection, say Josh Sohn and Alicia Clausen at Crowell & Moring.
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Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.
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Dapper Settlement Offers Rules Of The Road For NFT Issuers
The terms of a $4 million settlement in a class action alleging that Dapper Labs sold its NBA Top Shot Moments as unregistered securities may be a model for third parties that wish to avoid securities liability in connection with offering digital asset non-fungible token collectibles, say attorneys at K&L Gates.
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Texas Ethics Opinion Flags Hazards Of Unauthorized Practice
The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.
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Why High Court Social Media Ruling Will Be Hotly Debated
In deciding the NetChoice cases that challenged Florida and Texas content moderation laws, what the U.S. Supreme Court justices said about social media platforms — and the First Amendment — will have implications and raise questions for nearly all online operators, say Jacob Canter and Joanna Rosen Forster at Crowell & Moring.
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In Memoriam: The Modern Administrative State
On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.
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How To Clean Up Your Generative AI-Produced Legal Drafts
As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.
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Constitutional Protections For Cannabis Companies Are Hazy
Cannabis businesses are subject to federal enforcement and tax, but often without the benefit of constitutional protections — and the entanglement of state and federal law and conflicting judicial opinions are creating confusion in the space, says Amber Lengacher at Purple Circle.