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White Collar
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October 15, 2024
Exec's $77M WeWork Offer Was Stupid, Not Fraud, Jury Told
Counsel for the former CEO of real estate investment firm Arciterra told a Manhattan federal jury Tuesday his client was a fool for making what prosecutors described as a fake $77 million tender offer for a controlling stake in WeWork before its bankruptcy, but he wasn't trying to falsely pump up the coworking company's stock price.
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October 15, 2024
Crypto Huckster Slammed With 20 Years For Forcount Fraud
A New York federal judge on Tuesday sentenced an Ecuadorean man from Florida to 20 years in prison for pushing the $14 million, international Forcount cryptocurrency Ponzi scheme on his fellow Latinos over five years, saying he caused incalculable damage.
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October 15, 2024
Transport Monopoly Judge Accepts Antitrust Guilty Plea
A Texas federal judge has accepted a guilty plea from one of a dozen individuals in an antitrust case whom the government accused of using violence and intimidation to monopolize cross-border sales of used vehicles and other goods from the U.S. to Central America.
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October 15, 2024
SafeMoon Execs Can't Beat Fraud Charges Now, Feds Say
The crypto executives behind the alleged SafeMoon fraud can't claim their conduct was beyond the reach of U.S. courts at this stage of litigation, federal prosecutors said in a brief that pushed back on the executives' bid to dismiss the indictment.
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October 15, 2024
Navajo President Asks Vice President To Resign From Office
Navajo Nation President Buu Nygren has asked Vice President Richelle Montoya to resign from her position, arguing that her efforts backing a recent petition led by the tribe's former human resources director to recall him from office is the second-in-command's "formal break" from his administration.
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October 15, 2024
SEC Says Robot Co.'s AI Caretaker Was Mostly A Dummy
The U.S. Securities and Exchange Commission sued a robotics and artificial intelligence startup and its founder in Florida federal court Tuesday, accusing them of misleading investors about the company's ability to develop an AI-infused hologram and a robot to help families with childcare and other tasks.
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October 15, 2024
No New Trial For Bid-Rigging, Price-Fixing Concrete Bros.
A Georgia federal judge refused Tuesday to grant a new trial to a pair of brothers convicted in July for their role in a scheme fixing prices, rigging bids and carving up the coastal Georgia ready-mix concrete market, finding no jury confusion in witness testimony about antitrust compliance training.
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October 15, 2024
Justices Won't Look Into Avenatti's Identity Theft Conviction
The U.S. Supreme Court on Tuesday declined to consider whether the Second Circuit used an incorrect standard when ruling that identity theft played a "key role" in celebrity attorney Michael Avenatti's forging of ex-client Stormy Daniels' name and signature, upholding the disbarred lawyer's aggravated identity theft conviction.
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October 15, 2024
No 'Third Bite' For Ex-Lender's FDIC Suit, Judge Rules
A D.C. federal judge has tossed a lawsuit from a former small business financier contesting the constitutionality of a Federal Deposit Insurance Corp. enforcement action against him, saying the plaintiff has already twice litigated and lost the case in Rhode Island.
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October 15, 2024
Ex-FCA Exec's Wife Must Turn Over Notes In GM RICO Suit
A Michigan state judge said Tuesday that the wife of a former Fiat Chrysler executive accused of participating in a bribery scheme must turn over notes she took about their conversations, ruling that a state law protecting spouses from testifying against each other only applies to in-court testimony.
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October 15, 2024
Justices Mull RICO's Scope In Trucker's CBD Case
U.S. Supreme Court justices on Tuesday appeared conflicted whether to sanction a commercial trucker's attempt to bring a racketeering claim against CBD companies, whose allegedly mislabeled products the trucker claims led to his firing.
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October 15, 2024
Mich. Judge Unsure If PE Firm's Loan Broke Usury Law
The interest rate on a private equity firm's loan to a Detroit house-flipping venture exceeded usury limits, but it was unclear whether the lender knowingly charged an excessive rate, a Michigan state judge ruled after the case returned from a trip to the Michigan Supreme Court.
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October 15, 2024
Ga. Fund Manager Who Fled Country Cops To Fraud Charge
An Atlanta financier admitted Tuesday to running a fund that ripped off investors to the tune of millions of dollars before fleeing the country as the scheme collapsed, pleading guilty to a single charge of interstate transfers of stolen money, prosecutors said.
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October 15, 2024
Feds Cut Whistleblowers Out Of Kickback Deal, Court Told
Whistleblowers who accused a medical device company of a kickback scheme said Tuesday that the government left them out to dry when it settled False Claims Act claims with surgeons for $3.3 million and refused to share any of it with them.
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October 15, 2024
Young Thug Demands Entire Prosecution File In RICO Case
Atlanta rapper Young Thug called on a Georgia state judge on Friday to order prosecutors to hand over their entire prosecution file so that he can decide whether to object to the anticipated testimony of Deputy District Attorney Michael Sprinkel.
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October 15, 2024
Judge Approves Murdaugh Boat Crash Settlement
A South Carolina judge has approved a $15 million settlement in a suit against a gas station that allegedly sold alcohol to disgraced attorney Alex Murdaugh's underage son, who was later involved in a boat crash that killed one person, after a hangup with an insurance carrier was resolved.
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October 15, 2024
Pair Convicted In Baccarat Cheating Scheme At Mass. Casino
A Massachusetts jury has convicted a baccarat dealer and a player on charges that they cheated a Boston-area casino out of $15,000, according to the state attorney general's office.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
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October 15, 2024
Ex-Ohio Zoo CEO Gets 7 Years For Role In $2.3M Fraud
The former chief executive officer of the Columbus Zoo and Aquarium was sentenced to seven years in prison after he admitted to his role in a $2.3 million theft scheme in which he and other zoo officials used public funds for personal expenses, including a motor home for the top executive.
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October 15, 2024
'Varsity Blues' Prosecutor Joins Quinn Emanuel In Boston
Quinn Emanuel Urquhart & Sullivan LLP has added a former Massachusetts federal prosecutor who oversaw numerous high-profile cases in recent years, including the "Varsity Blues" college admissions scandal.
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October 14, 2024
Crypto-CEO Faces US Extradition In Market Manipulation Case
The former chief executive of a $7.5 billion crypto-asset company appeared at a London court Monday accused by the U.S. government of manipulating the market for the company's dog-themed "Saitama Inu" crypto-tokens before selling them for tens of millions in profit.
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October 11, 2024
Pharmacist Gets Up To 15 Years In Mich. For Fatal Outbreak
A pharmacist charged for the deaths in a 2012 fatal fungal meningitis outbreak was sentenced Friday afternoon in Michigan state court to 7½ to 15 years in prison, concluding the state's case that had been pending for six years, the pharmacist's attorney has announced.
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October 11, 2024
Feds Target Ill. Hospital CEO As $19M Theft Probe Widens
A federal corruption investigation into the theft of $19 million from a Chicago hospital has widened to ensnare the hospital's chief executive, according to a new indictment handed down by an Illinois federal grand jury.
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October 11, 2024
Aerospace Firm To Pay SEC $1.1M Over India Bribe Claims
Aerospace components manufacturer Moog Inc. will pay a $1.1 million civil penalty to resolve U.S. Securities and Exchange Commission claims that an Indian subsidiary of the company violated the Foreign Corrupt Practices Act in connection with an alleged scheme to bribe Indian officials.
Expert Analysis
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6 Lessons From DOJ's 1st Controlled Drug Case In Telehealth
Following the U.S. Department of Justice’s first-ever criminal prosecution over telehealth-prescribed controlled substances in U.S. v. Ruthia He, healthcare providers should be mindful of the risks associated with restricting the physician-patient relationship when crafting new business models, says Jonathan Porter at Husch Blackwell.
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In Memoriam: The Modern Administrative State
On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.
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Opinion
Justices' Malicious-Prosecution Ruling Shows Rare Restraint
The U.S. Supreme Court’s recent decision in Chiaverini v. City of Napoleon, Ohio, declining to limit malicious-prosecution suits, is a model of judicial modesty and incrementalism, in sharp contrast to the court’s dramatic swings on other rights, says Steven Schwinn at the University of Illinois Chicago Law School.
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Opinion
Trump Immunity Ruling Upends Our Constitutional Scheme
The U.S. Supreme Court’s Trump v. U.S. decision elevates the president to imperial status and paves the way for nearly absolute presidential immunity from potential criminal prosecutions — with no constitutional textual support, says Paul Berman at the George Washington University Law School.
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High Court Paves Middle Ground For Proceedings Obstruction
The U.S. Supreme Court's ruling in Fischer sensibly leaves the door open for prosecutors to make more nuanced assessments as to whether defendants' actions directly or tangentially impair the availability or integrity of anything used in an official proceeding, without criminalizing acts such as peaceful demonstrations, say attorneys at Perry Law.
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How To Clean Up Your Generative AI-Produced Legal Drafts
As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.
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Supreme Court's ALJ Ruling Carries Implications Beyond SEC
In its recent Jarkesy opinion, the U.S. Supreme Court limited the types of cases that can be tried before the U.S. Securities and Exchange Commission's in-house administrative law judges, setting the stage for challenges to the constitutionality of ALJs across other agencies, say Robert Robertson and Kimberley Church at Dechert.
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Opinion
A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue
The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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Series
After Chevron: No Deference, No Difference For SEC Or CFTC
The Chevron doctrine did not fundamentally alter the interplay between the courts and the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission in the development of the securities and commodities laws — and its demise will not do so either, says Dan Berkovitz at Millennium Management.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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Justices' Bribery Ruling: A Corrupt Act Isn't Necessarily Illegal
In its Snyder v. U.S. decision last week, the U.S. Supreme Court held that a bribery law does not criminalize gratuities, continuing a trend of narrowing federal anti-corruption laws and scrutinizing public corruption prosecutions that go beyond obvious quid pro quo schemes, say Carrie Cohen and Christine Wong at MoFo.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 36 different rulemaking and litigation areas.
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Key Takeaways From High Court's Substitute Expert Decision
The U.S. Supreme Court’s recent Smith v. Arizona decision, holding that the confrontation clause generally bars prosecutors’ use of a substitute expert witness at trial, will have the most impact in narcotics and violent crime cases, but creative defense lawyers may find it useful in white collar cases, too, say Joshua Naftalis and Melissa Kelley at Pallas Partners.