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January 07, 2025
NYC Condo Owner Hits Ch. 11 With More Than $70M Debt
The owner of 105 unsold New York City waterfront condominium units has filed for Chapter 11 protection with more than $70 million in liabilities.
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January 07, 2025
Davis Polk, Kirkland Guide Paychex's $4.1B Paycor Buy
Human capital management company Paychex Inc., advised by Davis Polk & Wardwell LLP, on Tuesday unveiled plans to buy fellow human capital management, payroll and talent acquisition software company Paycor, led by Kirkland & Ellis LLP, in a deal with an enterprise value of $4.1 billion.
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January 07, 2025
Getty, Shutterstock Ink $3.7B Visual Content Merger
Getty Images Holdings Inc. and Shutterstock said Tuesday they have agreed to merge into a visual content company that would have an enterprise value of approximately $3.7 billion, retaining the Getty Images name.
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January 07, 2025
Trump Can't Halt Sentencing In NY Case, Appeals Judge Says
A New York appellate judge Tuesday declined to freeze proceedings in Donald Trump's criminal hush money case, clearing the way for the president-elect to be sentenced as scheduled on Friday following his guilty verdict and just days before his inauguration.
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January 06, 2025
Trump Selects Long Island Judge For EDNY's Top Prosecutor
President-elect Donald Trump, who was born in Queens, has picked a Long Island state court judge to serve as the next U.S. attorney for the Eastern District of New York, according to an announcement made Monday on Truth Social.
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January 06, 2025
Victoria's Secret Hit With $5M Suit Over Fitting Room Denial
A nonbinary Victoria's Secret customer hit the clothing company and a store manager with a $5 million civil rights lawsuit in New York state court Monday, alleging the manager discriminated against them by refusing to let them use a fitting room and telling them they were "in fact, male."
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January 06, 2025
Cos. Accused Of Misusing EB-5 Investor Funds
More than $80 million in EB-5 investor funds that were intended for a Brooklyn real estate project were misused to purchase shares in a related company, a suit claimed in New York federal court.
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January 06, 2025
Zurich Seeks Coverage Support In MetLife Building Injury Row
Zurich American Insurance Co. asked a New York federal court Monday to force another insurer to tap into its $3 million policy to cover the defense of Manhattan's MetLife Building against a suit filed by a worker who was injured at its loading dock.
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January 06, 2025
Nasdaq Gets SPAC Investor's Racial Bias Claims Tossed
A federal judge decided Monday to toss a suit from an investor in a minority-led special purpose acquisition company claiming the Nasdaq Stock Market participated in race-based discrimination against investors, saying the plaintiff fails to allege that its injuries were a direct result of Nasdaq's actions.
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January 06, 2025
Terraform Victims May Exceed 1M, Feds Say In Notice Request
The U.S. Department of Justice on Monday asked a Manhattan federal judge for permission to issue a public notice to notify potential victims of defunct cryptocurrency firm Terraform Labs' creator Do Kwon's alleged $40 billion fraud, saying there are too many victims — potentially more than one million — to do individual outreach.
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January 06, 2025
Judge Rejects Rape Kit Seller's 2nd Bid To Pause Wash. Ban
A Washington federal judge has denied a request for an injunction pending appeal by a company challenging the state's ban on the sale of "DIY" DNA collection kits for sexual assault survivors, reiterating his prior ruling that the law passes constitutional muster because it regulates conduct and not speech.
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January 06, 2025
Indian Chemical Cos. Supplied Fentanyl Precursors, DOJ Says
New York federal prosecutors on Monday unveiled criminal charges against two India-based chemical companies and a senior executive for allegedly conspiring to supply and ship chemical building blocks that would later be made into fentanyl, a highly addictive and deadly synthetic opioid, to the United States and Mexico.
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January 06, 2025
Giuliani Held In Contempt In $148M Defamation Row
A New York federal judge on Monday found Rudy Giuliani in contempt of court for failing to turn over evidence to two former Georgia election workers seeking to collect on a $148 million defamation judgment they secured against the former attorney to President-elect Donald Trump.
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January 06, 2025
New Joint Bar Task Force To Tackle Indigent Defense In NYC
The New York City Bar Association announced Monday that it has teamed up with the city's county bar associations to form a task force assessing the NYC Assigned Counsel Plan, which assigns lawyers to indigent people in criminal and family courts who can't be served by institutional legal service providers.
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January 06, 2025
Longtime Cravath Presiding Partner Sam Butler Dies At 94
Sam Butler, former presiding partner of Cravath Swaine & Moore LLP during the 1980s and 1990s, died on Saturday at 94.
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January 06, 2025
Proskauer Adds New Funds Partners In NY, DC
Proskauer Rose LLP announced Monday it has rung in the new year by adding two new partners to its private funds group, with the addition of a tax expert from Schulte Roth & Zabel LLP in New York and a regulatory specialist from the SEC in Washington, D.C.
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January 06, 2025
KKR Pushes Fuji Soft To Pursue Legal Action Against Bain
Private equity giant KKR called on the board of Fuji Soft on Monday to take legal action against Bain Capital amid a bidding war for the company between the two competing investors, arguing that Bain's unauthorized use of confidential information and breach of its nondisclosure agreement "significantly jeopardizes" the reputation of private equity funds in Japan.
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January 06, 2025
NY Pot Agencies Want Hemp Regulations Challenge Tossed
New York's state cannabis regulators are urging a federal court to throw out a challenge to its new hemp regulations, saying that the new rules are necessary to close a loophole through which retailers were selling products that were technically hemp, but are as intoxicating as cannabis.
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January 06, 2025
2nd Circ. Says Argent Can't Force ESOP Suit To Arbitration
The Second Circuit knocked down Argent Trust Co.'s bid to arbitrate a case alleging the wealth management company sold inflated shares to a barbecue chain's employee stock ownership plan, after ruling in a similar case that identical arbitration contract language wasn't enforceable.
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January 06, 2025
CUNY Law Dean To Run Law School Admission Council
Sudha Setty, a longtime educator and dean of the law school at City University of New York, will serve as the next president and chief executive officer of the Law School Admission Council.
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January 06, 2025
Gemini To Pay CFTC $5M For Bitcoin Contract Statements
Crypto exchange Gemini has agreed to pay a $5 million penalty to the U.S. Commodity Futures Trading Commission to resolve claims that it misrepresented certain aspects of a proposed bitcoin futures contract, according to a settlement agreement filed in New York federal court on Monday.
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January 06, 2025
Ex-Sidley Corporate Partner Rejoins O'Melveny In NY
O'Melveny & Myers LLP announced on Monday the hiring of a former partner within its capital markets practice after a six-year stay at Sidley Austin LLP.
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January 06, 2025
Chinese Billionaire's Deputy Gets 10 Years For $1.4B Fraud
A Manhattan federal judge sentenced a Chinese business manager to 10 years in prison Monday for her role assisting convicted billionaire Miles Guo's $1.4 billion fraud, saying the lawbreaking was egregious because it leveraged talk of bringing democracy to authoritarian China.
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January 06, 2025
Judge Denies Trump's Request To Delay Jan. 10 Sentencing
A New York state judge on Monday denied Donald Trump's request to suspend his Jan. 10 sentencing in his hush money case as the president-elect simultaneously appealed the court's refusal to throw out the charges based on presidential immunity.
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January 06, 2025
Disney Buy Ends Fubo Sports Streaming Suit
Disney and Fubo announced a deal Monday morning to combine the streaming startup with Disney's Hulu + Live TV business, in an agreement that ends Fubo's lawsuit that had so far successfully challenged a three-way live sports streaming joint venture between Disney's ESPN, Fox and Warner Bros. Discovery.
Expert Analysis
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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Implications Of NY Climate Case For Generating Facilities
Regardless of how Greenidge Generation LLC v. New York Department of Environmental Conservation develops on remand, this decision has immediate repercussions for generating facilities seeking permit applications and renewals in New York, likely involving Climate Leadership and Community Protection Act considerations, say attorneys at Hodgson Russ.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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AV Compliance Is Still A State-By-State Slog — For Now
While the incoming Trump administration has hinted at new federal regulations governing autonomous vehicles, for now, AV manufacturers must take a state-by-state approach to compliance with safety requirements — paying particular attention to states that require express authorization for AV operation, say attorneys at Frost Brown.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Why State Captive Audience Laws Matter After NLRB Decision
As employers focus on complying with the National Labor Relations Board's new position that captive audience meetings violate federal labor law, they should also be careful not to overlook state captive audience laws that prohibit additional types of company meetings and communications, says Karla Grossenbacher at Seyfarth.
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A Closer Look At SDNY Bankruptcy Rule Amendments
The U.S. Bankruptcy Court for the Southern District of New York’s recent amendments to its local rules aim to streamline key Chapter 11 processes, resolve misunderstandings about previous iterations of the rules and urge caution about the use of artificial intelligence, say attorneys at Skadden.
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How Litigation, Supply Chains Buffeted Offshore Wind In 2024
U.S. offshore wind developers continue to face a range of challenges — including litigation brought by local communities and interest groups, ongoing supply chain issues, and a lack of interconnection and transmission infrastructure — in addition to uncertainty surrounding federal energy policy under the second Trump administration, say attorneys at Liskow & Lewis.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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The Malpractice Perils Of Elder Abuse Liability
Recent cases show that the circumstances under which an attorney may be sued for financial elder abuse remain unsettled, but practitioners can avoid these malpractice claims altogether by taking proactive steps, like documenting the process of evaluating a client's directives under appropriate standards, says Edward Donohue at Hinshaw & Culbertson.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.
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Permitting, Offtake Among Offshore Wind Challenges In 2024
Although federal offshore wind development started to pick up this year, many challenges to the industry became apparent as well — including slow federal permitting, the pitfalls of restarting permits after changes in project status, and the difficulties of negotiating economically viable offtake agreements, say attorneys at Liskow & Lewis.
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Every Dog Has Its Sick Day: Inside NYC's Pet Leave Bill
In what would be a first-of-its-kind law for a major metropolitan area, a recent proposal would amend New York City's Earned Safe and Sick Time Act to include animal care as an accepted use of sick leave — and employers may not think it's the cat's meow, say attorneys at Morrison Cohen.
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Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream
As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.
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Antitrust in Retail: Handbag Ruling Won't Go Out Of Fashion
Although a New York federal court’s recent decision to enjoin a proposed $8.5 billion merger between the owners of Michael Kors and Coach applied noncontroversial antitrust interpretations, several notable aspects of the opinion stand out as likely candidates for further discussion in future merger litigation, say attorneys at Holland & Knight.