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January 14, 2025
Apollo, Standard Chartered Form $3B Strategic Partnership
Private equity giant Apollo and international banking group Standard Chartered PLC on Tuesday announced that they have formed a long-term strategic partnership under which the two will contribute up to a combined $3 billion to go towards clean energy and transition financing.
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January 14, 2025
DOJ Accuses PE Giant KKR Of Dropping Merger Disclosures
The Justice Department filed an extraordinary lawsuit Tuesday accusing private equity giant KKR & Co. Inc. of repeatedly flouting its merger notification requirements, "altering" or "systematically omitting" documents on some deals and failing entirely to notify enforcers of at least two, including a $6.9 billion transaction, only for KKR to file its own suit in response.
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January 14, 2025
Giuliani Atty Chided For 'Higher Power' Remark Ahead Of Trial
A Manhattan federal judge pushed back Tuesday against Rudy Giuliani's lawyer ahead of a trial on whether the former New York City mayor must turn over his Florida condo and World Series rings to help cover a $148 million defamation judgment, after Giuliani's counsel said a precluded witness "answers to a higher power than this court."
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January 13, 2025
Quinn Emanuel Scoops Up SDNY Securities Fraud Chief
Quinn Emanuel Urquhart & Sullivan LLP announced Monday that it has hired the former chief of the U.S. Attorney's Office for the Southern District of New York's securities and commodities fraud task force as a partner in its Manhattan office.
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January 13, 2025
NYDFS Launches Staff Exchange With Bank Of England
The New York Department of Financial Services on Monday launched an international secondment program to allow the department to exchange staff with other regulators, starting with a digital assets-focused exchange with the Bank of England next month.
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January 13, 2025
Bannon Must Explain Atty Swap As NY Wall Fraud Trial Looms
A New York state judge on Monday ordered Steve Bannon to appear in court to explain why he switched counsel a month before he faces trial on charges of defrauding donors to a fundraiser to build a U.S. southern border wall.
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January 13, 2025
Binance Can't Get High Court To Review Class Cert. Decision
The U.S. Supreme Court on Monday passed on a petition from crypto exchange Binance Holdings Ltd. and its former CEO to consider whether transactions on its platform were beyond the reach of U.S. securities laws after a Second Circuit decision found enough stateside ties to revive a suit from the exchange's users.
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January 13, 2025
Colombian Refinery Co. Gets $1B McDermott Award OK'd
Colombia's state-owned oil company on Friday won enforcement of a $1 billion arbitral award issued against Dutch and British units of Texas-based construction firm McDermott International following a dispute over a refinery modernization project.
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January 13, 2025
Vimeo Defeats Recording Owners' DMCA Appeal At 2nd Circ.
The Second Circuit said Monday it won't revive copyright claims from a group of music rights holders over lip-sync videos posted on Vimeo by its users, saying a safe harbor under federal copyright law protects the website.
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January 13, 2025
Fintech Partner Banks Face Suit Over Synapse Financial Collapse
Banks that partnered with financial technology companies face mounting proposed class action allegations over the "inexplicable" loss of $85 million on the heels of the bankruptcy of intermediary software company Synapse Financial Technologies Inc.
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January 13, 2025
Ex-Acacia Research CIO Gave Relative Insider Info, SEC Says
Acacia Research Corp.'s former president was charged with insider trading in New York federal court for allegedly tipping off his sister-in-law with confidential information that helped her illegally net more than $428,000 in profitable trades involving two companies, securities regulators announced Monday.
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January 13, 2025
Judge Orders NY Authorities To Halt Raids Of Hemp Stores
A New York state judge on Monday ordered state cannabis regulators and city law enforcement officials to halt certain actions against hemp stores suspected of selling unlicensed cannabis, saying their raids likely represented an unconstitutional government overreach.
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January 13, 2025
Justices Seek SG Input On Private Investor Fight
The U.S. Supreme Court on Monday asked for the U.S. solicitor general's input on whether securities laws governing investment funds allow for a private right of action, as the high court considered weighing in on a fight between private capital investors and investment funds.
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January 13, 2025
NY's $15 Broadband Price Cap To Take Effect Wednesday
Internet service providers in New York won't be allowed to charge low-income households more than $15 for basic broadband service come Wednesday, after the U.S. Supreme Court declined to weigh in on a ruling upholding the Empire State's right to cap internet costs.
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January 13, 2025
NY Coalition Fights For Kalief Browder Discovery Law
New York Legal Aid announced the formation of a statewide coalition Monday to defend the discovery reform law named for the late Kalief Browder, a young man whose three-year detention at Rikers Island without a trial made national headlines before he took his life in 2015.
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January 13, 2025
NY Dispensaries Say Pot Agencies Broke Proximity Rules
A group of four adult-use marijuana dispensaries are suing New York's cannabis regulators, aiming to vacate the issuance of licenses for four competing dispensaries that they say violate the state's 1,000-foot buffer between outlets.
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January 13, 2025
Madoff Trustee Blasts Katten's 2nd Bid To Drop Client
The trustee overseeing the long-running liquidation of Bernie Madoff's bankruptcy estate is fighting a renewed attempt by Katten Muchin Rosenman LLP to drop its client, French investment fund Access International Advisors, telling the court that the firm's motion to withdraw as counsel lacks novel arguments differentiating it from an earlier bid that had already been denied.
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January 13, 2025
Vegas Man Latest Arrest In Ex-NBA Player's Betting Scheme
A Las Vegas man faces federal charges related to the investigation into the 2024 betting fraud scheme involving then-NBA player Jontay Porter, following his arrest while trying to board a plane in the city.
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January 13, 2025
NY Judge Unmoved By Media Dustups In Mayor's Bribe Case
Prosecutors and defense counsel should watch what they say to the press, a Manhattan federal judge overseeing New York City Mayor Eric Adams' corruption case warned in an order on Monday, though the judge declined to chastise either side over alleged rule violations.
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January 13, 2025
Goodwin Procter Adds NY IP Attys From Fenwick, Desmarais
Goodwin Procter LLP announced Monday that it was expanding its intellectual property practice in New York with two scientifically talented lawyers, one from Fenwick & West LLP, the other from Desmarais LLP.
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January 13, 2025
Blank Rome Adds Longtime Arnold & Porter Private Equity Pro
Blank Rome LLP has grown its corporate and private equity offerings in New York with the addition of the former co-head of Arnold & Porter Kaye Scholer LLP's global private equity practice.
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January 13, 2025
Tax-Lien Biz Atty Accused Of Duping Bank Can't Touch Money
A Manhattan federal judge declined Monday to unfreeze assets on behalf of a former compliance lawyer accused of duping a bank into lending his tax-lien investment firm $20 million, complicating his plan to go to trial with private counsel.
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January 13, 2025
Cannabis Co. Again Seeks Dismissal Of Finder's Fee Suit
The Cannabist Co. Holdings Inc. is asking a New York federal court to once again throw out a suit from an associate alleging he is owed $800,000 for facilitating an investment, saying New York law bars oral finder's fee contracts and the claims are still blocked by the statute of limitations.
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January 13, 2025
Wife Of Ex-Sen. Menendez Can't Delay Bribery Trial
Nadine Menendez, former U.S. Sen. Bob Menendez's wife, has lost her bid to postpone her Feb. 5 trial on bribery charges, as a Manhattan federal judge rejected her contention that her husband's sentencing on similar charges just a week prior would taint her jury.
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January 13, 2025
Smith Gambrell Faces DQ Bid In Major Lindsey Suit
A former Major Lindsey & Africa employee with a lengthy legal history with the recruiter is seeking to disqualify Smith Gambrell from representing Major Lindsey in her $75 million federal defamation suit, arguing three attorneys are key witnesses to help determine liability.
Expert Analysis
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Federal Embrace Of Crypto Regs Won't Lower State Hurdles
Even if the incoming presidential administration and next Congress focus on creating clearer federal regulatory frameworks for the cryptocurrency sector, companies bringing digital asset products and services to the market will still face significant state-level barriers, say attorneys at Mayer Brown.
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And Now A Word From The Panel: Ballpark Lessons For MDLs
The baseball offseason has provided some time to ponder how multidistrict litigation life resembles the national pastime, including with respect to home-field advantage, major television markets and setting records, says Alan Rothman at Sidley.
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Equitable Mootness Insights From Greenlit Ch. 11 Plan Appeal
A Texas federal court recently allowed a challenge to ConvergeOne's Chapter 11 bankruptcy plan to proceed because it wouldn't disrupt the IT company's confirmed plan or harm creditors, reinforcing the importance of judicial restraint in applying equitable mootness where limited relief is possible, say attorneys at Parkins & Rubio.
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ERISA Ruling Is A Win For DOL Regulatory Authority
In Rappaport v. Guardian Life Insurance, a New York federal court recently issued a notable disability benefits ruling in finding that the U.S. Supreme Court’s Loper Bright opinion does not affect how existing U.S. Department of Labor regulations apply in Employee Retirement Income Security Act litigation, says Mark DeBofsky at DeBofsky Law.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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A Legal Perspective On NYC's Retail Real Estate Evolution
As New York City's retail market begins to show signs of resilience after the challenges of recent years, landlords must be cognizant of legal implications from shifting trends toward shorter-term leases and pop-up stores, says Andrea Gendel at Pryor Cashman.
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A View Into NY's New Business Interruption Insurance Law
In response to businesses' economic challenges during the pandemic, New York recently allowed the issuance of stand-alone business interruption insurance coverage, and while pricing and insurer participation questions remain, the product stands to benefit business owners and the state economy, say attorneys at Saxe Doernberger.
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The Fashion Industry Should Prep Now For State PFAS Bans
New York and California have each passed legislation regulating PFAS in apparel and other textiles, so retailers should consult with manufacturers and suppliers and obtain the requisite certification documents as soon as possible to avoid disruptions in supply chains, say attorneys at Venable.
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Rank-And-File DOJ Attorneys Will Keep Calm And Carry On
Career prosecutors at the U.S. Department of Justice often pride themselves on their ability to remain apolitical in order to ensure consistency and keep the department’s mission afloat, and the incoming Trump administration is unlikely to upend this tradition, says Michael Landman at Bird Marella.
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Service Providers Must Mitigate 'Secondary Target' Risks
A lawsuit recently filed in an Illinois federal court against marketing agency Publicis over its work for opioid manufacturers highlights an uptick in litigation against professional service providers hired by clients that engaged in alleged misconduct — so potential targets of such suits should be sure to conduct proper risk analysis and mitigation, say attorneys at Dechert.
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2nd Circ. AmTrust Decision Shows Audit Reports Still Matter
Though the Second Circuit eventually found on reconsidering a case over the high-profile accounting meltdown at AmTrust that audit reports are material to investors, its previous contrary holding highlights the seriousness of the ongoing crisis of confidence in the audit report, say attorneys at Bernstein Litowitz.
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Series
Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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9th Circ.'s High Bar May Limit Keyword Confusion TM Claims
A recent Ninth Circuit ruling that a law firm did not infringe upon a competitor’s trademarks by paying Google to promote its website when users searched for the rival’s name signals that plaintiffs likely can no longer win infringement suits by claiming competitive keyword advertising confuses internet-savvy consumers, say attorneys at Mitchell Silberberg.
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Post-Election Implications For The EPA's Methane Rules
Amid the U.S. Supreme Court's recent denial of requests to halt implementation of the U.S. Environmental Protection Agency's methane rule in two suits, and given the outcome of the election, a complete reversal of the methane rule is expected, but state-level policymaking and enforcement will continue, says John Watson at Spencer Fane.
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Mitigating Defamation Liability Risks Of AI-Generated Content
Until Congress and the courts provide clear guidance about defamation liability stemming from generative artificial intelligence tools, companies should begin building controls to prevent the creation of defamatory content, says Michael Gerrity at Accenture.