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December 06, 2024
SEC Says Market Forecaster Ran Biotech Pump-And-Dump
The U.S. Securities and Exchange Commission has sued a subscription-based investment advice company and its owner, accusing them of making nearly $1.4 million in a pump-and-dump scheme involving a purported drugmaker.
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December 06, 2024
Allianz Exec Avoids Prison For $7B Investor Fraud
A New York federal judge on Friday declined to sentence a former portfolio manager for Allianz SE's U.S. unit to any time in prison for lying to investors about the riskiness of a group of private investment funds that lost over $7 billion when the COVID-19 pandemic hit.
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December 06, 2024
Diddy's Companies Tossed From One Of His Rape Suits
A New York federal judge Thursday dismissed two of Sean "Diddy" Combs' companies from a lawsuit accusing the hip-hop mogul and two other men of trafficking and raping a 17-year-old in 2003, saying a 2022 amendment to a local law expanding liability for gender-motivated violence didn't apply retroactively.
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December 06, 2024
$490M Suit Over Kurdish Telecom Loan Paused For Arbitration
A New York federal judge has paused litigation filed by a subsidiary of Kuwaiti logistics firm Agility Public Warehousing Co. to enforce a $490 million judgment against the Kurdistan Regional Government of Iraq while a related arbitration plays out.
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December 06, 2024
2nd Circ. Won't Revisit Sheeran's 'Let's Get It On' Win
The Second Circuit won't rethink a panel's opinion that Ed Sheeran's hit "Thinking Out Loud" did not copy Marvin Gaye's classic "Let's Get It On," handing a loss to Structured Asset Sales LLC.
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December 06, 2024
Justices To Decide If Terror Victim Law Violates Due Process
The U.S. Supreme Court agreed Friday to decide whether a 2019 law gives courts jurisdiction over the Palestinian Authority and Palestine Liberation Organization or conflicts with the Fifth Amendment's due process clause.
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December 06, 2024
Barclays Investors Get Initial OK For $19M Overissuance Deal
A New York federal judge Friday granted the first green light to a $19.5 million settlement for a class of investors who bought Barclays PLC securities and then claimed the banking giant misled them about its internal controls before selling more than $17.6 billion in securities over its maximum registered amount.
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December 06, 2024
Two Firms To Rep CVS Investors In Benefit Unit Losses Suit
Bernstein Litowitz Berger & Grossmann LLP and Bleichmar Fonti & Auld LLP will co-lead a proposed class of investors in consolidated litigation alleging CVS Health Corp. hurt investors as it announced its benefit unit's unanticipated losses.
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December 06, 2024
Wall Street Giants Can't Beat Stock Loan Class Cert. Bid
A New York federal judge on Friday overruled objections from a group of major banks to certify a class of investors, with a slightly extended class period, in a suit alleging the banks colluded to avoid modernizing the stock loan market.
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December 06, 2024
FTC Dems Tout Impact of Handbag Merger Win
The Federal Trade Commission's leader said a recent court ruling that led the owners of Coach and Michael Kors to abandon their planned $8.5 billion tie-up should make it easier to prove mergers hurt competition without needing to rely on expensive economic experts.
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December 06, 2024
FTX Says Three Arrows Can't Add $1.5B To Ch. 11 Claims
FTX is pushing back against efforts by liquidators for defunct cryptocurrency hedge fund Three Arrows Capital to add more than $1.5 billion to its claims in FTX's Chapter 11 case in Delaware bankruptcy court.
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December 06, 2024
Real Estate Recap: Valley National, Office Insights, Proptech
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including Valley National Bank's $925 million loan portfolio sale, takeaways from office sector activity in 2024, and one BigLaw firm's strategic bet on proptech.
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December 06, 2024
2 Accused Of Using Paper As Crime Front Get 2025 Trial Date
A Manhattan federal judge set a 2025 date Friday for former Epoch Times executive Weidong Guan to stand trial for allegedly using the newspaper as a front to launder $67 million of crime proceeds, following the extradition of a second defendant.
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December 06, 2024
Ga. Poll Workers Want 'Severe' Sanctions Against Giuliani
The two former Georgia election workers who won a $148 million defamation verdict against Rudy Giuliani have asked a federal judge to hold the former Donald Trump attorney in civil contempt and impose "severe" sanctions for his "willful flouting" and "blatant disregard" of court orders.
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December 06, 2024
House Poised To Take Up JUDGES Act As Some Dems Balk
A bipartisan bill to create more federal judgeships to meet increasing caseloads is on the House's schedule for next week, but its support from some Democrats appears to be waning.
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December 06, 2024
NY Judge Sanctioned For Ex Parte Convo In Divorce Case
A second state court judge has been sanctioned in an ethics flap over improper out-of-court communications in a contested divorce case involving a law firm run by a friend of his, the New York State Commission on Judicial Conduct announced this week.
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December 06, 2024
NYC Council OKs Mayor's Affordable Housing Plan
The New York City Council passed a package of zoning reforms designed to spur housing production, greenlighting Mayor Eric Adams' City of Yes for Housing Opportunity plan after the city and state agreed to earmark $5 billion in funding to accompany the zoning overhaul.
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December 06, 2024
OpenAI Unveils Plans To Ask JPML To Centralize IP Suits
OpenAI Inc. informed New York and California federal courts this week it plans to ask the Judicial Panel on Multidistrict Litigation to centralize eight copyright infringement and Digital Millennium Copyright Act lawsuits — including a proposed class action — brought by content creators and publishers.
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December 06, 2024
Off The Bench: Kyrie Irving Sued, Golf's New Transgender Ban
In this week's Off The Bench, the New York Knicks and Rangers sue the unknown masses of people selling counterfeit team gear, a therapist who put on a family retreat for Kyrie Irving sues him over the bill, and two major golf organizations block transgender players from women's tournaments.
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December 06, 2024
Taxation With Representation: Skadden, Gibson Dunn
In this week's Taxation With Representation, BlackRock buys HPS Investment Partners, TreeHouse Foods Inc. buys Harris Tea, Aya Healthcare acquires Cross Country Healthcare, and Bruin Capital launches a soccer representation business.
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December 06, 2024
Gordon Rees Adds Banking And Finance Partner In NY
Gordon Rees Scully Mansukhani LLP has hired a banking and finance group partner, who joins with more than 24 years of experience representing fund finance clients, banks and financial institutions, and hedge funds, the firm announced Wednesday.
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December 06, 2024
Longtime NYC Public Servant Confirmed To Lead Law Dept.
The New York City Council confirmed a longtime public servant as the 82nd corporation counsel after Mayor Eric Adams' previous pick to run the Law Department withdrew consideration following scrutiny from the same local lawmakers.
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December 05, 2024
Dunkin' Fruit-Named Drinks Have No Fruit, False Ad Suit Says
Dunkin' falsely markets its "Refresher" line of caffeinated beverages with names of specific fruits despite not containing any of the fruits, cheating consumers out of the "premium" fruit ingredients and their health benefits, alleges a new proposed false advertising class action filed Wednesday in New York federal court.
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December 05, 2024
Jane Street Ends Trade Secret Fight With Rival Investing Firm
Jane Street Group LLC and Millennium Management LLC have agreed to put to rest their trade secrets dispute over a proprietary trading strategy, according to a joint stipulation of dismissal filed Thursday in New York federal court.
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December 05, 2024
Internet Archive Won't Take E-Book Fair Use To Justices
The Internet Archive on Wednesday said it will not ask the U.S. Supreme Court to weigh in on whether its practice of distributing copyrighted e-books for free without permission from some of the world's biggest publishers is excused by the Copyright Act's fair use doctrine.
Expert Analysis
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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.
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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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.