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July 19, 2024
Elite Schools' $284M Aid-Fixing Deals Get Final OK
An Illinois federal judge on Friday granted his final signoff to $284 million worth of settlements inked by 10 schools accused in a sprawling antitrust case of working together to limit the financial aid they provided, deeming it a fair and reasonable outcome for the class of students.
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July 19, 2024
NY Life Workers' $19M ERISA Deal Gets Final Approval
Current and former New York Life workers received final approval for a $19 million deal ending their lawsuit claiming the insurance giant kept inferior proprietary investment options in its employee 401(k) plans.
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July 19, 2024
MLS, US Soccer Can't Get Redo On Antitrust Suit Preservation
A New York federal judge told Major League Soccer and the sport's U.S. governing body that he would not reconsider a previous order that kept alive an antitrust suit against the organizations, but he did offer some of the clarification they were seeking about market definition.
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July 19, 2024
NYC Bar OKs Attys' Financial Stakes In Alternative Biz Entities
A new ethics committee report says a New York City lawyer may hold a financial interest in alternative business structures in jurisdictions that let them provide legal services, provided the lawyer is merely a financial investor, not practicing law through the entity.
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July 19, 2024
Off The Bench: Trial Time For Jerry Jones, Sunday Ticket Row
In this week's Off The Bench, Jerry Jones' legal battle with the woman claiming to be his daughter reaches a courtroom, Sunday Ticket subscribers clap back at the NFL, and soccer fans go after the stadium they could not enter for the Copa America final.
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July 19, 2024
Ex-Pharma Sales Exec Denies Fake Prescription Scheme
The former vice president of sales for pharmaceutical company U.S. Compounding Inc. pled not guilty in Manhattan federal court Friday to forging fake horse drug prescriptions in order to juice revenues.
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July 19, 2024
2nd Circ. Upholds Ax Of Ex-Ropes & Gray Clerk's Bar Exam Suit
A former Ropes & Gray LLP attorney who was fired after twice failing the New York bar exam can't sue the state agency that administers the test for failing to accommodate her disabilities, the Second Circuit ruled Friday, finding the agency is protected by sovereign immunity.
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July 19, 2024
Several State Courts Impacted By Global Tech Outage
Several state courts have been impacted by a global Microsoft Windows outage Friday morning causing operational challenges and courthouse closures.
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July 19, 2024
Regeneron Rips DOJ's FCA Suit As 'Divorced From Reality'
Regeneron Pharmaceuticals Inc. has told a Massachusetts federal judge that a False Claims Act suit brought by the U.S. Department of Justice claiming the company withheld information about a drug's average sales price was "divorced from reality" and the practice the government was complaining about was commonplace.
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July 19, 2024
Galaxy's CryptoManufaktur Buy Boosts Assets To $3.3B
New York-based blockchain business Galaxy Digital Holdings Ltd. said Friday it has acquired blockchain node operator CryptoManufaktur LLC, with CryptoManufaktur's $1 billion in Ethereum assets under stake boosting Galaxy's total to $3.3 billion.
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July 19, 2024
Cannabis Co. Gets Investor Fraud Suit Thrown Out
A New York federal judge has thrown out a consolidated class action alleging Canopy Growth Corp. misled investors about the financial prospects of a newly acquired subsidiary, saying the complaint fails to show that the company knew it was misleading investors.
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July 19, 2024
Draft Constitutional Amendment Would Ax Trump Immunity
Sen. Mazie Hirono, D-Hawaii, a member of the Senate Judiciary Committee, on Friday released a draft of a constitutional amendment that would ensure no one is above the law, following the U.S. Supreme Court's ruling that former President Donald Trump has immunity from official acts as president.
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July 19, 2024
NY Defense Co. Loar Buying Applied Avionics For $385M
Loar Holdings Inc., the White Plains, New York-based aerospace and defense parts maker that went public in April, said Friday that it has agreed to purchase Applied Avionics Inc. for $385 million in cash.
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July 19, 2024
Gemini, IRA Biz Settle Fraud Case Over $36M Crypto Hack
Cryptocurrency exchange Gemini Trust has struck a settlement deal in a suit alleging it cost customers of self-directed retirement and pension account provider IRA Financial Trust $36 million in crypto-assets in a cyberattack after misrepresenting its security capabilities, according to a filing in New York federal court.
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July 18, 2024
Abbott Wins Trust Asset Freeze To Collect $33M In TM Fight
A New York federal judge has agreed to freeze trusts tied to a couple who owe Abbott Laboratories $33.4 million in sprawling trademark litigation over gray-market diabetes test strips, finding an asset freeze is necessary due to the defendants' "pervasive and repeated" use of the trusts for personal expenses and gambling.
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July 18, 2024
Bizlato Founder Avoids More Time For Illicit Crypto Deals
The founder of Bitzlato Ltd. on Thursday was spared further incarceration for using the cryptocurrency exchange to process what prosecutors say was over $700 million in criminal proceeds, the latest case among many where judges factor in the vile conditions at Brooklyn's notorious federal jail, the Metropolitan Detention Center, as a reason for leniency.
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July 18, 2024
4 Men Cop To $2M 'Instant Deposit' Robinhood Fraud
Four men have pled guilty in New York federal court to being involved in a scheme to steal millions of dollars from trading firm Robinhood by exploiting a program that gave them access to cash advances.
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July 18, 2024
OCC's Hsu Calls For 'More Nuanced' Preemption Approach
The Office of the Comptroller of the Currency's acting chief has signaled plans for a potential shift in his agency's approach to federal preemption following a recent U.S. Supreme Court decision, calling for "more nuanced analysis" when evaluating the applicability of state laws to banks it oversees.
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July 18, 2024
Investor Signs $897K Settlement Over R. Kelly Show Funding
After security and credit agreements for the promotion of a concert series at the Foxwoods Resort Casino headlined by R&B artist R. Kelly fell apart, an investor has signed a roughly $900,000 deal in a Connecticut state court to recover an out-of-state settlement.
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July 18, 2024
Comcast Gets PTAB To Eye Patent Despite EDTX Trial
The Patent Trial and Appeal Board on Thursday said it will look into a petition by Comcast asking it to invalidate claims in a patent organizing "content on a display device" that is tied to a $338.7 million jury verdict and is being asserted in another case set to go to trial later this year.
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July 18, 2024
Chase Can't Arbitrate Returned-Check Suit, Customers Say
Chase Bank customers have urged a federal judge not to let the bank force them to arbitrate a complaint over fees charged on deposited checks that were returned, arguing that they never agreed to an arbitration clause and that the bank failed to prove their consent to arbitration.
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July 18, 2024
Live Nation Previews Part Of Case Against DOJ Suit
Live Nation and Ticketmaster have teed up part of their fight against an antitrust lawsuit brought by the U.S. Department of Justice and multiple state attorneys general, arguing that the state law claims are "threadbare" and that a chunk of the DOJ case amounts to trying to force them to deal with competitors.
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July 18, 2024
Menendez Appeal Could Make Hay From Bribery Case Law
Sen. Robert Menendez's planned "aggressive" appeal will almost certainly include broadsides against his novel foreign-agent conviction and attempt to capitalize on the U.S. Supreme Court's proven appetite for bribery cases, experts say.
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July 18, 2024
Atty Says Golf Malpractice Row Already Ran Its Course
An attorney seeking summary judgment in a legal malpractice suit told a New York federal judge that, five years and three courts later, the owners of the Foothills Club West Golf Court have still failed to produce evidence to support their allegations.
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July 18, 2024
Feds Say Loper Bright Not Relevant In IVF Policy Suit
The U.S. Department of Defense urged a New York federal court Thursday to throw out a nonprofit's lawsuit challenging its in vitro fertilization coverage policy for service members, countering the group's argument that the agency can't shake the suit because the U.S. Supreme Court upended Chevron deference.
Expert Analysis
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The State Of Play In DEI And ESG 1 Year After Harvard Ruling
Almost a year after the U.S. Supreme Court decided Students for Fair Admissions v. Harvard, attorney general scrutiny of environmental, social and governance-related efforts indicates a potential path for corporate diversity, equity and inclusion initiatives to be targeted, say attorneys at Crowell & Moring.
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Key Lessons From Recent Insurance Policy Reform Litigation
A review of recent case law reveals the wide range of misunderstandings that may arise between insurers and policyholders in the purchase and renewal of insurance policies, as well as the utility — and the limits — of reformation and related remedies for these misunderstandings, say Jad Khazem and Seth Tucker at Covington.
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2nd Circ. Ruling Affirms NY Law's Creditor-Friendly Approach
The Second Circuit’s recent ruling in 245 Park Member v. HNA International provides creditors with some reason for optimism that debtors in New York may face rejection in court for aiming to keep creditors at arm’s length by transferring personal assets into an LLC, says Jeff Newton at Omni Bridgeway.
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2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors
Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.
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Diving Deep Into Sweeping NY Financing Bill — And Its Pitfalls
A New York bill seeking to impose state usury limits onto a broader variety of financing arrangements and apply lender licensing requirements to more diverse entities would present near-insurmountable compliance challenges for lenders and retailers, say Kate Fisher and Tom Quinn at Hudson Cook.
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What The FTC Report On AG Collabs Means For Cos.
The Federal Trade Commission's April report on working with state attorneys general shows collaboration can increase efficiency and consistency in how statutes are interpreted and enforced, which can minimize the likelihood of requests for inconsistent injunctive relief that can create operational problems for businesses, say attorneys at Kelley Drye.
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When Oral Settlements Reached In Mediation Are Enforceable
A recent decision by the New Jersey Appellate Division illustrates the difficulties that may arise in trying to enforce an oral settlement agreement reached in mediation, but adherence to certain practices can improve the likelihood that such an agreement will be binding, says Richard Mason at MasonADR.
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Series
Being An EMT Makes Me A Better Lawyer
While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.
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15 Quick Tips For Uncovering And Mitigating Juror Biases
As highlighted by the recent jury selection process in the criminal hush money trial against former President Donald Trump, juror bias presents formidable challenges for defendants, and attorneys must employ proactive strategies — both new and old — to blunt its impact, say Monica Delgado and Jonathan Harris at Harris St. Laurent.
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Can Chatbot Interactions Lead To Enforceable Contracts?
The recent ruling in Moffatt v. Air Canada that found the airline liable for the representations of its chatbot underscores the question of whether generative artificial intelligence chatbots making and accepting offers can result in creation of binding agreements, say attorneys at McDermott.
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5 Lessons From Ex-Vitol Trader's FCPA Conviction
The recent Foreign Corrupt Practices Act and money laundering conviction of former Vitol oil trader Javier Aguilar in a New York federal court provides defense takeaways on issues ranging from the definition of “domestic concern” to jury instruction strategy, says attorney Andrew Feldman.
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Mitigating Incarceration's Impacts On Foreign Nationals
Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.
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Exploring An Alternative Model Of Litigation Finance
A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.
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NY's Vision For Grid Of The Future: Flexible, Open, Affordable
Acknowledging that New York state's progress toward its climate goals is stalling, the New York Public Service Commission's recent "Grid of the Future" order signals a move toward more flexible, cost-effective solutions — and suggests potential opportunities for nonutility participation, say Daniel Spitzer and William McLaughlin at Hodgson Russ.
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Businesses Should Take Their AI Contracts Off Auto-Renew
When subscribing to artificial intelligence tools — or to any technology in a highly competitive and legally thorny market — companies should push back on automatic renewal contract clauses for reasons including litigation and regulatory risk, and competition, says Chris Wlach at Huge Inc.