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June 25, 2024
FTX Gets OK To Seek Creditor Votes On Ch. 11 Plan
Bankrupt cryptocurrency exchange FTX Trading Ltd. can seek creditor votes for its Chapter 11 plan after a Delaware bankruptcy judge said he would approve the debtor's disclosures after overruling several objections.
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June 25, 2024
NY Judge Rejects Visa, Mastercard Fee Deal
A New York federal judge handling multidistrict litigation over Visa and Mastercard merchant fees rejected a proposed settlement for equitable relief and recommended a case from Grubhub be sent back to Illinois, making good on a suggestion she shared at a previous hearing.
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June 25, 2024
Hedge Fund Exec Avoids Prison After Forex-Rigging Trial
The founder of U.K.-based Glen Point Capital on Tuesday was spared prison time following his conviction at trial for unlawfully manipulating the foreign exchange market in order to secure a $20 million payout for the hedge fund.
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June 25, 2024
Man Convicted Of Crypto-Motivated Break-Ins, Kidnappings
A Florida man was convicted Tuesday in North Carolina federal court of leading a robbery crew that broke into people's homes, kidnapped them and stole Bitcoin and other cryptocurrency.
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June 25, 2024
Man Posed As Atty To Scam Clients For Fees, Feds Say
A Long Island man has been charged with posing as an attorney after he represented federal criminal defendants to fraudulently collect fees from them and their family members.
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June 25, 2024
2nd Circ. Affirms 5-Year Sentence For Impostor Immigration Atty
A Connecticut woman sentenced to five years in federal prison for stealing money from vulnerable victims by pretending to be an immigration attorney can't undo her plea deal or lessen the roughly $368,000 she was ordered to pay in restitution, the Second Circuit has ruled.
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June 25, 2024
UK Billionaire's Pilot Avoids Prison For Insider Trading
A Manhattan federal judge sentenced a former private jet pilot to house arrest Tuesday for insider trading on stock tips from his billionaire boss Joe Lewis, finding that a prison term would be unfair in comparison to Lewis' non-incarceratory sentence.
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June 25, 2024
Lye Buyers Can't Get Court OK For $38.5M Antitrust Deals
A federal judge in Buffalo has rejected three settlements totaling $38.5 million for a proposed class of lye purchasers who alleged producers of the chemical colluded to inflate prices, ruling exceptions to who qualifies for the class make it impossible to determine membership.
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June 25, 2024
Lewis Baach Says Chrysler Building Landlord Bilked The Firm
International boutique Lewis Baach Kaufmann Middlemiss PLLC has sued the landlord for its former office space in the Chrysler Building in New York state court, saying RFR Holding LLC is refusing to return its $275,000 security deposit.
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June 25, 2024
NY Judge Partially Lifts Trump Gag Order Ahead Of Sentence
The Manhattan judge overseeing former President Donald Trump's hush-money case on Tuesday vacated key parts of a gag order intended to shield jurors and witnesses from his verbal attacks, although an order protecting the jurors' identities remains in place.
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June 25, 2024
Troutman Pepper Gets Restructuring Pro From Sidley Austin
Troutman Pepper Hamilton Sanders LLP has hired a seasoned attorney for its finance and restructuring practice who previously worked at Sidley Austin LLP for more than 20 years.
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June 24, 2024
Menendez Was 'Weird' While Planning Egypt Trip, Jury Hears
A New York federal jury weighing charges that U.S. Sen. Robert Menendez took bribes for official acts related to Egypt heard Monday from a congressional staffer that the senator acted "weird" while planning an official trip there and was "making up lies."
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June 24, 2024
NYC Pharmacy Owners Get Jail Time For $18M Med Fraud
Two brothers who own several New York pharmacies will each have to pay over $18 million in restitution in addition to serving jail time for submitting fraudulent claims to Medicare for pricey cancer medication and funneling illicit proceeds through several shell companies, the U.S. Department of Justice announced Monday.
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June 24, 2024
AI Cos. Hit With Copyright Claims From Music Labels
Two artificial intelligence startups are facing copyright litigation by Sony Music Entertainment and a group of major record labels, claiming they rip off artists' songs without getting consent.
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June 24, 2024
CFTC Says Gemini Can't 'Heighten Burden' Over Omissions
The Commodity Futures Trading Commission has urged a New York federal judge to grant it a pretrial win on claims cryptocurrency exchange Gemini provided incomplete information that misled the regulator on a proposed bitcoin futures contract, arguing Gemini's defense is nothing but a "convoluted exercise in avoidance."
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June 24, 2024
Doctor Left Text Trail Describing NBA Fraud Scheme, Jury Told
Prosecutors told a Manhattan federal jury that a Seattle medical professional sent a series of text messages detailing a plan to submit fraudulent claims to an NBA healthcare plan to obtain payouts, kicking off a second trial over the alleged scheme.
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June 24, 2024
Illinois, Other States Back FTC Bid To Affirm Intuit Ad Ruling
Illinois, along with 20 other states and the District of Columbia, defended the Federal Trade Commission in tax software giant Intuit's Fifth Circuit constitutional challenge to the agency's findings that the company engaged in deceptive advertising, saying in an amicus brief that the FTC's conclusion was correct.
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June 24, 2024
Truth Social Dispute Heads Toward Chancery Trial In July
The sponsor of Digital World Acquisition Corp., the blank check company that took Donald Trump's Truth Social public in March, is heading to a one-day trial on July 29 in its investment dispute with the company and its directors, according to a scheduling order filed Monday.
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June 24, 2024
Tax Preparers Win Recommendation For Class Cert. In OT Suit
A group of tax preparers have met the requirements to form a class in a suit accusing their former employer of failing to pay overtime, a New York federal magistrate judge said, rejecting the employer's argument that their request for class status came too late.
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June 24, 2024
Cannabis Biz Greenrose Files $6.5M Ch. 7 In New York
The Greenrose Holding Co. Inc., a cultivator and distributor of cannabis products, filed for Chapter 7 in a New York bankruptcy court, claiming over $6.5 million in liabilities it seeks to address through liquidation.
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June 24, 2024
Seyfarth Atty Dropped From Yeshiva U. Rape Cover-Up Suit
A female Yeshiva University student who claims she was raped by a player on the men's basketball team, then sued the school claiming it conspired on a cover-up with Seyfarth Shaw LLP, has voluntarily dismissed two Yeshiva officials and a Seyfarth attorney from the lawsuit.
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June 24, 2024
Junior Leaguers Are Offsides On Antitrust Claims, NHL Says
The NHL is looking to squash a putative antitrust class action from players in its developmental leagues alleging exploitation and abuse, telling a New York federal court that such disputes over pay and work conditions fall under the league's collective bargaining agreement and are shielded from antitrust scrutiny.
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June 24, 2024
Latest Gibson Dunn Transactions Hire Joins From Paul Weiss
Gibson Dunn & Crutcher LLP said Monday it has brought on a former Paul Weiss Rifkind Wharton & Garrison LLP attorney in the latest of the firm's many recent transactional lateral hires.
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June 24, 2024
Justices Pass On Conn. School Vaccine Mandate Fight
The U.S. Supreme Court on Monday declined to review a Second Circuit decision that largely upheld the dismissal of a suit challenging a Connecticut law passed during the COVID-19 pandemic that revoked religious exemptions to student vaccine mandates.
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June 24, 2024
Duane Morris Appoints New Immigration Law Chair
Philadelphia-based Duane Morris LLP announced on Friday the appointment of business immigration partner Ted J. Chiappari as chair of its immigration division, part of its employment, labor, benefits and immigration practice.
Expert Analysis
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Lessons From Country Singer's Personal Service Saga
Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.
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NY Pay Frequency Cases May Soon Be A Thing Of The Past
Two recent developments in New York state have unfurled to suggest that the high tide of frequency-of-pay lawsuits may soon recede, giving employers the upper hand when defending against threatened or pending claims, say attorneys at Reed Smith.
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How Lease Obligations Can Affect Subchapter V Debt Cap
Two recent bankruptcy rulings in the Eastern District of Virginia and the Southern District of New York take opposite positions on whether unmatured lease obligations are considered noncontingent debt for the purposes of calculating debtors' Subchapter V eligibility, say Joseph Orbach and Henry Thomas at Thompson Coburn.
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A Focused Statement Can Ease Employment Mediation
Given the widespread use of mediation in employment cases, attorneys should take steps to craft mediation statements that efficiently assist the mediator by focusing on key issues, strengths and weaknesses of a claim, which can flag key disputes and barriers to a settlement, says Darren Rumack at Klein & Cardali.
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3 Areas Of Focus In Congressional Crosshairs This Year
Companies must prepare for Congress to build on its 2023 oversight priorities this year, continuing its vigorous inquiries into Chinese company-related investments, workplace safety and labor relations issues, and generative artificial intelligence, say attorneys at Morgan Lewis.
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Companies Should Beware Greater Scrutiny Of Subscriptions
The New York Attorney General's Office has been utilizing a severe interpretation of the law in enforcement against subscription services, as demonstrated in last month's Sirius XM complaint and Cerebral settlement — and this focus is representative of heightened subscription scrutiny in other states and at the federal level, say attorneys at Venable.
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NY CRE Lenders Need Clarity On Foreclosure Standing
Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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5 Trade Secret Developments To Follow In 2024
Recent cases and trends in trade secret law indicate that significant developments are likely this year, and practitioners should be anticipating their impact on the business and legal landscape, say attorneys at Faegre Drinker.
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What's On Tap For Public Corruption Prosecutions In 2024
All signs point toward another year of blockbuster public corruption prosecutions in 2024, revealing broader trends in enforcement and jurisprudence, and promising valuable lessons for defense strategy, says Kenneth Notter at MoloLamken.
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Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
New York's banking and financial sector saw a number of notable regulatory and legislative changes in the final quarter of 2023, including guidance on climate risks and heightened cybersecurity protocols issued by the New York State Department of Financial Services, as well as final revisions to virtual currency listings in the state, say attorneys at WilmerHale.
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7 E-Discovery Predictions For 2024 And Beyond
The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.
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Securities Class Actions Show No Signs of Slowing In 2024
Plaintiffs asserted securities class actions at elevated levels in 2023 — a sign that filings will remain high in the year ahead — as they switched gears to target companies that allegedly have failed to anticipate supply chain disruptions, persistent inflation, rising interest rates and other macroeconomic headwinds, say attorneys at Skadden.
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ESG Concerns Can No Longer Be Ignored In 2024
While the long wait for the U.S. Securities and Exchange Commission's ESG rule continues, government attention to regulations, increased litigation efforts and shareholder resolutions seeking transparency highlight the importance of placing an emphasis on ESG considerations, say attorneys at Wollmuth Maher.