Carlton Fields entered a bid Monday to escape a $1 million legal malpractice suit brought by liquidators of a Bahamas bank, urging a Florida federal court to rule that they failed to enter adequate claims, including not alleging the firm caused any harm through its actions.
A putative class of borrowers who say payday lender Cash Biz LP broke the law when it filed criminal charges against them for unpaid debts on Friday asked the Texas Supreme Court to stop the lender from moving their claims to arbitration.
Mary Jo White, chair of the U.S. Securities and Exchange Commission, said in a speech Monday that she wants to expand reporting and oversight of the market for U.S. Treasury securities.
The Consumer Financial Protection Bureau on Monday said that its ongoing financial technology innovation program would look for ways for new market entrants to bring changes to how consumers access their financial data, credit reports are processed, mortgages are serviced and other ways consumers control their finances through technology.
Barclays Bank PLC has asked a New York federal court for a quick win in a Securities Act class action alleging it misled investors ahead of a $2.5 billion offering in April 2008, saying the investors can’t show the bank’s estimates of its credit risk were objectively false.
Bank of New York Mellon and others violated California law by foreclosing on homes when they didn’t hold a proper ownership interest in a $2.3 billion trust, an Orange County homeowner said in a proposed class action filed Friday in federal court.
The federal government fought to reinstate MetLife’s “too big to fail” designation in a closely watched case before a D.C. Circuit panel Monday, arguing regulators weren’t required to prove the insurance giant is likely to collapse before imposing heightened scrutiny on the company.
TD Ameritrade Holding Corp. said on Monday it will expand its geographic footprint and bolster its investment guidance offerings with a $4 billion cash and stock purchase of its smaller rival, online brokerage firm Scottrade Financial Services Inc.
The U.S. Securities and Exchange Commission on Friday urged the D.C. Circuit to stand by its decision denying the appeal of an investment adviser who claims the agency's in-house judges require presidential appointment, saying he misinterpreted a U.S. Supreme Court decision in his bid for rehearing.
Private equity magnate Lynn Tilton and the U.S. Securities and Exchange Commission will finally face off Monday over claims Tilton and her firm overcharged investors by more than $200 million, and both sides are preparing for a fight befitting what could be the largest case ever heard by an SEC judge as Tilton raises a host of new claims the agency acted improperly.
A trio of federal banking regulators recently moved to require that the largest banks and their service providers do more to ensure they can quickly respond to cyberattacks and limit their spread, a shift that would crank up the pressure on boards of directors and third-party vendors to play an active role in dealing with increasingly prevalent cyberthreats.
A proposed class of investors suing Wells Fargo over the bank’s alleged mishandling of its residential mortgage-backed securities investments informed a New York federal judge Thursday of a Wednesday order by a California state judge that rejected pleading challenges “identical” to those raised by Wells Fargo in the instant case.
A California federal judge on Friday allowed HSBC Hong Kong to exit a proposed class action in which victims of a Ponzi scheme alleged the bank aided the fraud by holding deposits linked to the scheme, saying the court has no personal jurisdiction over the bank.
Lawyers watching for a possible shift of power in the U.S. Senate this fall may want to keep their eyes on Illinois, where a closely watched race has two candidates offering competing visions on U.S.-led trade agreements, the future of the Affordable Care Act, and how the government should regulate the financial industry.
Relatives of victims of terrorist attacks have asked the U.S. Supreme Court to decide whether Arab Bank PLC is immune from lawsuits under the Alien Tort Statute alleging it provided bank accounts for terror groups, arguing the Second Circuit split from several others when deciding it was.
Fannie Mae can’t dodge a possible fine for allegedly invading the privacy of a proposed class of consumers by improperly acquiring their credit reports just because its assets are controlled by the Federal Housing Finance Agency, a Virginia federal judge said Thursday.
SunEdison creditors on Thursday sued the energy giant’s bank lenders and other financiers in New York to recover at least $200 million they allege was used to mask the company’s deteriorating finances and improprieties months before filing for bankruptcy.
Federal financial regulators will make their case to the D.C. Circuit on Monday that a district court erred in axing their decision to deem MetLife a systemically important financial institution subject to stronger regulation. Here, Law360 breaks down the history of the case in advance of oral arguments.
Moody's Corp. disclosed on Friday that the U.S. Department of Justice is preparing to sue the ratings agency under the Financial Institutions Reform, Recovery and Enforcement Act for its assessment of derivatives whose failure caused the financial crisis.
A Florida federal judge on Thursday tossed a putative class action accusing Bank of America NA and law firm Frenkel Lambert Weiss Weisman & Gordon LLP of hitting homeowners facing foreclosure with illegal fees, saying it must be amended to fix the use of the same allegations in successive counts.
Results from a recent International Association of Defense Counsel survey reveal a significant disconnect between inside and outside lawyers when it comes to perceptions of their own effectiveness versus the perceptions of their counterparts on the other side of the fence, say Andrew Chamberlin, a partner at Ellis & Winters LLP, and Orlyn Lockard, associate general counsel at Siemens Corp.
Although it is a RICO case, the U.S. Supreme Court’s decision in RJR Nabisco Inc. v. European Community has finally put to rest the debate about whether Morrison’s “focus” test applies to the question of extraterritoriality in Alien Tort Statute cases, say Perlette Michèle Jura and Dylan Mefford of Gibson Dunn & Crutcher LLP.
My experience with the Nixon pardon, the Nixon tapes, the construction of the White House swimming pool, and other matters well out of the ordinary for a president’s lawyer taught me that in the practice of law one should learn to expect and cope with the unexpected, says William Casselman, who served as White House counsel for President Gerald Ford.
Not all aspects of the partnership process are within an attorney’s power. However, there are some factors that an associate can control on the path to partnership, the most important of which are the relationships cultivated along the way, says Rebecca Glatzer of Major Lindsey & Africa.
The Second Circuit's recent decision in American Express obscures the purpose of the antitrust laws, is inconsistent with decades of antitrust jurisprudence, and will handicap the ability of the antitrust agencies and courts to challenge anti-competitive conduct in dozens of markets, says David Balto, a former policy director at the Federal Trade Commission.
The seat on the U.S. Supreme Court left vacant by the death of Justice Antonin Scalia has been empty now for more than six months. As a result, the ability of the remaining eight-justice court to decide cases is impaired. This is nowhere more apparent than in the number of recent cases deadlocked on a 4-4 tie vote, says David Axelrad of Horvitz & Levy LLP.
All businesses with a website may be said to have reach into, and presence in, every state. Therefore, due diligence into information management compliance of a U.S. target company requires cognizance of the laws of at least 52 separate jurisdictions, say George Wang and Kenneth Rashbaum of Barton LLP.
I went to the law books, where I discovered the crime of “obstruction of justice,” and realized I was right in the middle of a criminal conspiracy. I didn't fully understand my conduct during Watergate until — decades later — I learned about the psychology of cover-up at work, says John Dean, who served as White House counsel for President Richard Nixon.
Somewhat surprisingly, very few of the dozens of "trial pros" who have been interviewed by Law360 have revealed the secret to effective trial preparation that is vital to their success. But ultimately, the “secret” to effective trial preparation is not actually a secret, says Jamin Soderstrom of Soderstrom Law PC.
Although a new form of entity under Cayman Islands law, the Cayman Islands LLC is familiar in form to U.S. lawyers and industry participants; Cayman Islands LLCs operate in an almost identical way to Delaware LLCs, say Tim Buckley and Andrew Barker of Walkers Global.