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White Collar
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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
Ace Gallery Founder Gets 2 Years In Prison For Embezzlement
A California federal judge on Monday sentenced art dealer Douglas Chrismas, who founded the internationally renowned Ace Gallery, to two years in prison for embezzling hundreds of thousands of dollars from the bankruptcy estate of the shuttered Los Angeles art gallery.
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January 13, 2025
On Cross, Madigan Says He Merely Helped Job-Seekers
Former Illinois House Speaker Michael Madigan distanced himself Monday from political allies who prosecutors say bribed him for jobs and other benefits, saying his recommendations were just that, and that he thought he was effective in shutting down a former alderman's quid pro quo suggestion.
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January 13, 2025
Feds Say Par Funding Fraud Caused $404M In Losses
Prosecutors and defense attorneys spent hours in a marathon hearing Monday trying to convince a Pennsylvania judge of how much financial damage they thought the principals of the Par Funding merchant lending business did by allegedly fleecing investors, with the government pushing for a $404 million figure.
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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
Amid Claims Of Agency Bias, DEA Judge Nixes Pot Hearings
A Drug Enforcement Administration tribunal on Monday canceled planned hearings on the merits of a proposal to loosen federal restrictions on marijuana so that pro-rescheduling parties can bring their allegations of agency bias straight to the DEA's administrator.
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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
Hytera Pleads Guilty To Stealing Motorola Trade Secrets
Hytera Communications Corp. Ltd. pled guilty Monday to one count of conspiracy to steal trade secrets from Motorola Solutions relating to its digital mobile radios, avoiding a trial scheduled next month in Chicago federal court.
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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
Ex-Cook County Assessor Officer Hit With Bribery Charges
A chief hearings officer for former Cook County Assessor Joseph Berrios' office accepted bribes, including from a law firm's tax consultant, when handling a property assessment appeal, a new lawsuit in Illinois federal court alleges.
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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
AGs, Lobbyists Ask Justices To Keep Shell Co. Law Blocked
The U.S. Supreme Court should deny the federal government's emergency application to stay a Texas district court's injunction on a law aimed at cracking down on crimes committed with shell companies, according to numerous state attorneys general and interest groups and a handful of small businesses.
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January 13, 2025
Justices Mull Grammar In First Step Act Resentencing Case
The U.S. Supreme Court grappled with grammar-heavy arguments Monday over whether lighter sentences under the First Step Act should apply to defendants who were sentenced before the 2018 law was enacted but later resentenced after their original sentences were thrown out.
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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
SEC To Collect $63M In Latest Recordkeeping Sweep
The U.S. Securities and Exchange Commission announced Monday that subsidiaries of Blackstone Inc. and Charles Schwab Corp. were among those swept up in the latest round of recordkeeping fines, promising to collect over $63 million from 12 firms whose employees are accused of discussing business through their personal devices.
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January 13, 2025
Special Counsel's Report On Trump's DC Case Released
With a Florida federal judge's permission on Monday, U.S. Attorney General Merrick B. Garland released the first volume of former special counsel Jack Smith's report regarding his now-abandoned election-interference case against Donald Trump in D.C.
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January 13, 2025
Ex-US Attorney Chris Kavanaugh Joining Cleary In DC
Former U.S. Attorney Chris Kavanaugh of the Western District of Virginia will join Cleary Gottlieb Steen & Hamilton LLP in Washington, D.C., after nearly two decades as a prosecutor, the firm announced Monday.
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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
Sheppard Mullin Lands 6-Atty Bradley Arant White Collar Team
Sheppard Mullin Richter & Hampton LLP announced Monday that it has added the managing partner of Bradley Arant Boult Cummings LLP's Dallas office and five others to bolster its governmental practice and enhance its white collar defense, corporate investigations and healthcare enforcement services.
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January 13, 2025
Mich. AG Says She Is Immune From Flint Water Suit
Michigan Attorney General Dana Nessel has told a federal court she is immune from allegations that she stripped due process rights from former Gov. Rick Snyder's aide when he was among the officials indicted in the aftermath of the Flint water crisis.
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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
Fla. Justices To Weigh Scope Of Agency's Prosecution Power
The Florida Supreme Court agreed Monday to hear the case of a man accused of election fraud who says the Florida Office of Statewide Prosecution doesn't have the authority to pursue the claims against him.
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January 13, 2025
Ex-Sacks Weston Atty's Theft Supports Suspension, Court Told
The severity of a suspended Philadelphia attorney's actions when he defrauded his former firm, Sacks Weston LLC, of almost $320,000 supports the Pennsylvania Disciplinary Board's recommendation of a five-year suspension of his law license, the state's Office of Disciplinary Counsel has argued.
Expert Analysis
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7 Takeaways For Companies After Justices' Bribery Ruling
The U.S. Supreme Court’s Snyder v. U.S. decision this summer, holding that a federal law does not criminalize after-the-fact gratuities made to public officials, raises some key considerations for companies that engage with state, local and tribal governments, say attorneys at BakerHostetler.
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Why Now Is The Time For Law Firms To Hire Lateral Partners
Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Considering Possible PR Risks Of Certain Legal Tactics
Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.
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Perspectives
DC Circ. Seizure Ruling Deepens 4th Amendment Circuit Split
The D.C. Circuit’s recent Asinor v. District of Columbia decision, holding that the government’s continued possession of seized property must be reasonable, furthers a split among circuit courts and portends how the text, history and tradition method might influence Fourth Amendment cases, say Ty Howard and Wayne Beckermann at Bradley Arant.
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Integrating ESG Into Risk Management Programs
Amid increasing regulations and reporting requirements for corporate sustainability in the European Union and the U.S., companies might consider how to incorporate environmental, social and governance factors into more formalized risk management, say directors at Alvarez & Marsal.
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It's No Longer Enough For Firms To Be Trusted Advisers
Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.
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Vertex Suit Highlights Issues For Pharma Fertility Support
Vertex Pharmaceuticals' recent lawsuit challenging the U.S. Department of Health and Human Services' interpretation of the Anti-Kickback Statute is influenced by a number of reproductive rights and health equity issues that the Office of Inspector General should address more concretely, including in vitro fertilization and fertility preservation programs, says Mary Kohler at Kohler Health Law.
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5 Lessons From Consulting Firm's Successful DOJ Disclosure
The Boston Consulting Group recently received a rare declination of prosecution from the U.S. Department of Justice after self-disclosing a foreign bribery scheme, and the firm’s series of savvy steps after discovering the misconduct provides useful data points for white collar defense attorneys, says Jonathan Porter at Husch Blackwell.
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5 Credibility Lessons Trial Attys Can Learn From Harris' Run
In launching a late-stage campaign for president, Vice President Kamala Harris must seize upon fresh attention from voters to establish, or reestablish, credibility — a challenge that parallels and provides takeaways for trial attorneys, says Ken Broda-Bahm at Persuasion Strategies.
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7 Takeaways For Investment Advisers From FinCEN AML Rule
With a new FinCEN rule that will require covered investment advisers to implement anti-money laundering programs and comply with extra recordkeeping requirements by 2026, companies should begin planning necessary updates to their policies and procedures by focusing on seven of the rule’s key requirements, identified by attorneys at Simpson Thacher.
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A Look At UK, EU And US Cartel Enforcement Trends
The European Union, U.K. and U.S. competition agencies' recently issued joint statement on competition risks in generative artificial intelligence demonstrates increased cross-border collaboration on cartel investigations, meaning companies facing investigations in one jurisdiction should anticipate related investigations in other jurisdictions, say lawyers at Latham & Watkins.
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Navigating A Potpourri Of Possible Transparency Act Pitfalls
Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.
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A Preview Of AI Priorities Under The Next President
For the first time in a presidential election, both of the leading candidates and their parties have been vocal about artificial intelligence policy, offering clues on the future of regulation as AI continues to advance and congressional action continues to stall, say attorneys at Mintz.
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.