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New York
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July 16, 2024
Menendez Guilty Of 'Shocking Corruption,' Urged To Resign
A New York federal jury found U.S. Sen. Robert Menendez guilty on Tuesday of taking gold bars, cash and a Mercedes-Benz as bribes from three businessmen, handing a victory to the government on its second try to convict the embattled New Jersey Democrat on corruption charges and prompting calls for his resignation.
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July 16, 2024
NYC To Pay $6.2M To End Rikers Officers' OT Suit
New York City will pay $6.2 million to settle a proposed collective action brought by a group of Rikers Island employees who alleged the city was late in paying their overtime wages and that about $1 million in overtime money was not paid.
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July 16, 2024
Brazilian Cement Giant Seeks Ch. 15 With Over $1B In Debt
InterCement, the third-largest cement and concrete supplier in Brazil, is seeking Chapter 15 recognition from a New York bankruptcy court, saying it filed for mediation procedures in Brazil to stave off creditor litigation while it works to sell assets and address over a billion dollars in debt.
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July 16, 2024
ABC Asks Judge To Toss Trump's Defamation Suit
ABC News has urged a Florida federal judge to toss former President Donald Trump's defamation lawsuit against ABC News, arguing that statements made by television host George Stephanopoulos regarding writer E. Jean Carroll's two lawsuits against Trump were true.
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July 15, 2024
Gemini Says CFTC Can't Have It Both Ways On Materiality
Crypto exchange Gemini Trust Co. told a New York federal judge late Monday that the U.S. Commodity Futures Trading Commission's arguments that Gemini misled it on aspects of a proposed bitcoin futures contract "directly contradict" the agency's defense of sanctions for its own alleged misstatements in another enforcement action.
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July 15, 2024
Ex-Pfizer Worker Seeks No Time For Paxlovid Insider Trading
A former Pfizer employee argued that he shouldn't go to prison after a Manhattan federal jury convicted him of insider trading over clinical trial results for the drug Paxlovid, pointing out that a friend of his and co-defendant had dodged a custodial sentence in the case after helping prosecutors.
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July 15, 2024
JetBlue-Spirit Flyers Seek $20M Atty Fees Following DOJ Win
The private plaintiffs who challenged the failed JetBlue-Spirit merger asked a Massachusetts federal judge to award their counsel at least $20 million in fees, saying they "substantially contributed" to the U.S. Department of Justice successfully squashing the deal and are the prevailing party in their case.
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July 15, 2024
Menendez Jury Seeks Deliberation Guidance In 2 Notes
The Manhattan federal jury weighing bribery charges against Sen. Robert Menendez and two businessmen sent two notes Monday indicating confusion as to fundamental issues.
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July 15, 2024
Binance 'Knowingly' Assisted Hamas, Oct. 7 Survivors Say
Survivors of Hamas' Oct. 7 attack in Israel have told a New York federal judge that Binance should be held accountable for allegedly funding terrorist activity since they say the cryptocurrency exchange was created as an "illicit financial tool" that operated without adequate compliance controls to knowingly provide criminal customers with access to funds.
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July 15, 2024
NRA's Policies Called 'Dumpster Fire' As 2nd NY Trial Opens
The New York attorney general cast the National Rifle Association as unrepentant and unreformed as a second-phase bench trial began in state court Monday, after a jury had found the group and its ex-officers liable for misspending millions.
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July 15, 2024
Record Labels Sue Verizon Over Internet Users' File Sharing
A group of the biggest music labels in the world is suing Verizon for allegedly profiting from what they call "pervasive" and "staggering" copyright infringement of the labels' music, saying in a complaint that the internet service provider "deliberately turned a blind eye" to music pirating on its network.
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July 15, 2024
CVS Hit With Investor Suit Over Benefits Unit's Losses
CVS has been hit with a proposed class action in New York federal court over a series of stock price declines it suffered following announcements about losses the healthcare retailer was experiencing in its Health Care Benefits segment.
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July 15, 2024
Nike Suit Seeks More Than $60M From Counterfeit 'Empire'
Nike filed a federal lawsuit on Monday for more than $60 million against a popular Los Angeles company producing pricey customized sneakers that the sportswear giant claims unlawfully uses Nike's designs and intellectual property, saying the company and its founder are even offering "Nike Counterfeiting 101" classes.
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July 15, 2024
Calif. Man Avoids Prison For Lumentum Insider Trading
A California man who pled guilty to trading on tips from a former executive of laser company Lumentum Holdings Inc. avoided prison Monday in light of his assistance to the government's investigation.
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July 15, 2024
Cigna, Chuck Close Estate Settle Reneged Benefits Suit
The estate of renowned artist Chuck Close told a New York federal judge that Cigna has agreed to settle a suit claiming the company wouldn't pay for more than $686,000 in at-home skilled nursing care that it claimed was owed to him under his Pace Gallery employee benefit plan.
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July 15, 2024
FTX Proposes $4B Settlement Of CFTC's Massive $52B Claim
FTX Trading Ltd. asked a Delaware bankruptcy judge to sign off on a settlement with the U.S. Commodity Futures Trading Commission, saying the agreement to allow the agency a $4 billion claim in its bankruptcy would end a fraud civil enforcement action and address the "most significant single creditor" in the crypto currency exchange's Chapter 11 case.
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July 15, 2024
New York AG Lobs New Challenge To Rec Sports Trans Ban
New York Attorney General Letitia James and a local roller derby league each sued to strike down a newly passed law banning transgender women and girls from participating in recreational sports at facilities run by Nassau County on Monday, reviving a bitter legal fight.
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July 15, 2024
Split 2nd Circ. Nixes Surgeon's Default In Sex Assault Case
A split panel of the Second Circuit said a Connecticut surgeon should have been fully freed from the default judgment against him in a sex assault suit after a jury concluded his accuser failed to prove the assault happened, with one judge dissenting Monday that parts of the default ruling should remain.
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July 15, 2024
Ex-NYC Homeless Services Fraud Investigator Admits ID Theft
A former fraud investigator for the New York City Department of Homeless Services pled guilty along with a co-defendant Monday to scheming to steal the personal information of homeless people and using it to fraudulently apply for unemployment benefits.
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July 15, 2024
$6.4B IBM-HashiCorp Deal Gets FTC Second Request
The Federal Trade Commission is taking a deeper look at IBM's planned $6.4 billion acquisition of HashiCorp Inc., about one month after IBM voluntarily reset a 30-day initial review period for the transaction, a Monday securities filing shows.
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July 15, 2024
Catching Up With Delaware's Chancery Court
Chancery Court news was full of fees and settlements last week, with three multimillion-dollar deals getting a court OK, and a daylong discussion over a potentially multibillion-dollar fee award for attorneys who got Tesla CEO Elon Musk's astronomical pay package thrown out. The court also banged the gavel in cases involving e-payment venture SwervePay and managed care company Centene Corp., and heard arguments from software company SAP SE and biotech Renmatix Inc.
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July 15, 2024
Goodwin Sponsor Finance Atty Joins Davis Polk In NY
Davis Polk & Wardwell LLP picked up a Goodwin Procter LLP partner of four years with experience representing a wide range of private equity-related clients in leveraged finance transactions in New York, the firm announced Monday.
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July 15, 2024
Saul Ewing Adds 2 Ex-Moritt Hock Litigators In New York
Saul Ewing LLP has added two litigators previously with Moritt Hock & Hamroff LLP as partners in its New York office, the firm announced Monday.
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July 15, 2024
No Sanctions For Milberg In Visa, Mastercard MDL
A New York federal judge on Friday declined to order sanctions against Milberg Coleman Bryson Phillips Grossman LLC after the firm admitted to mistakenly registering fraudulent clients in long-running multidistrict litigation that accused Visa and Mastercard of charging improper merchant fees.
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July 15, 2024
Gibson Dunn Grows NY Office With Proskauer Exec Comp Pro
Gibson Dunn is continuing to grow its New York office, announcing Monday that it has brought a former Proskauer Rose LLP attorney to its executive compensation and employee benefits practice group.
Expert Analysis
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Potential Unintended Consequences Of NY Sovereign Debt Bill
New York lawmakers recently proposed a law to create a framework for restructuring sovereign debt, but there are concerns that the bill will increase financing costs and that it attempts to solve problems that have largely been dealt with by collective action clauses, say Jeffrey Rothleder and Tara Peramatukorn at Squire Patton.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Exploring A New Era Of IP Law Amid The Rise Of Generative AI
Attorneys at Hogan Lovells explore the effects of generative artificial intelligence in three areas of intellectual property, recent updates and emerging trends, and its significance on the IP landscape now and moving forward.
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McKesson May Change How AKS-Based FCA Claims Are Pled
The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.
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5 Employer Actions Now Risky After Justices' Title VII Ruling
Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Teach Your Party Representative The Art Of Nonverbal Cues
As illustrated by recent reports about President Donald Trump’s nonverbal communication in court, jurors notice what’s happening at counsel table, which may color their perceptions of the case as a whole, so trial attorneys should teach party representatives to self-monitor their nonverbal behaviors, says Clint Townson at Townson Consulting.
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Bracing For The CFPB's War On Mortgage Fees
As the Consumer Financial Protection Bureau homes in on the legality of certain residential mortgage fees, the industry should consult the bureau's steady stream of consumer lending guidance for hints on its priorities, say Nanci Weissgold and Melissa Malpass at Alston & Bird.
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Top 10 Queries For Insurers Entering Surplus Lines Market
John Emmanuel at Locke Lord discusses what insurers should understand before entering into the surplus lines market, a growing, state-regulated area, subject to much variation in application and enforcement.
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Considering CGL Defense For Social Media Addiction Claims
A recent lawsuit filed in California state court against Meta seeks damages from technology companies for the costs of treating children allegedly suffering from social media addiction, but the prospects of defense coverage under commercial general liability insurance policies for a potential new wave of claims look promising, say Craig Hirsch and Tae Andrews at Pasich.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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Consider 2 Alternative Exit Plans In RE Distress Scenarios
In the face of an impending wave of foreclosures, lenders and borrowers alike should consider two exit strategies — deed-in-lieu of foreclosure and consent foreclosure — that can mitigate potential costs and diminution in property value that could be incurred during a lengthy proceeding, say attorneys at BCLP.
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Breaking Down DOJ's Individual Self-Disclosure Pilot Program
The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.
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Reverse Veil-Piercing Ruling Will Help Judgment Creditors
A New York federal court’s recent decision in Citibank v. Aralpa Holdings, finding two corporate entities liable for a judgment issued against a Mexican businessman, shows the value of reverse veil piercing as a remedy for judgment creditors to go after sophisticated debtors who squirrel away assets, says Gabe Bluestone at Omni Bridgeway.
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Risks Of Rejecting Hotel Mgmt. Agreements Via Bankruptcy
In recent years, hotel owners have paid a high price when they attempted to use bankruptcy proceedings to prematurely terminate their hotel management agreements, highlighting that other options may be preferable, say attorneys at Jenner & Block.