Commercial Contracts

  • October 20, 2011

    Investment Co. Says Workers Took Trade Secrets To Rival

    Investment bank and broker-dealer Wedbush Securities Inc. sued two former employees and their new employer, competitor Liquidnet Holdings Inc., on Thursday in New York, accusing them of breach of contract, trade secrets theft and unfair competition.

  • October 20, 2011

    Nomir, McDermott Bury $143M Patent Malpractice Suit

    Nomir Medical Technologies Inc. on Thursday resolved a patent malpractice and contract dispute with McDermott Will & Emery LLP that had accused three of the firm’s attorneys of missing patent filing deadlines and costing the medical device maker at least $143 million.

  • October 20, 2011

    Judge Keeps Ritter's $380M Polluted Mines Suit Intact

    A Virginia federal judge on Wednesday preserved most claims in C.L. Ritter Lumber Co. Inc.'s $380 million breach of contract suit against Consolidation Coal Co. and others over billions of gallons of polluted water allegedly dumped into two coal mines.

  • October 20, 2011

    Chase Clients Win Class Cert. In Mortgage Suit

    Up to 28,000 borrowers who claim JPMorgan Chase Bank NA duped them into paying higher interest rates on their adjustable-rate mortgages can move forward as a class, but only on certain claims, a California federal judge ruled Wednesday.

  • October 19, 2011

    Lehman Takes Aim At BNY Mellon Over Derivatives Deal

    Lehman Brothers Special Financing Inc. hit BNY Mellon Corporate Trustee Services Ltd. with an adversary suit Tuesday, claiming the failed bank was deprived of property interest as a result of allegedly illegal provisions in a derivatives transaction agreement.

  • October 19, 2011

    Dodgers Score Protective Discovery Order In Ch. 11

    A Delaware bankruptcy judge signed off Wednesday on a bid by the Los Angeles Dodgers and other parties for a protective order in the case after they asserted that discovery would likely include sensitive confidential information related to a broadcasting contract.

  • October 19, 2011

    'Hustle And Flow' Producer Sues Paramount For $20M

    Filmmaker John Singleton on Wednesday sued Paramount Pictures Corp. for $20 million, claiming the studio reneged on a deal to finance two of his future films as part of its acquisition of the movie “Hustle And Flow” in 2005.

  • October 19, 2011

    IberiaBank Pays $2.5M To Exit Overdraft MDL

    IberiaBank Corp. agreed Wednesday to pay $2.5 million to settle its involvement in Florida multidistrict litigation accusing several banks of breaching contracts by unfairly charging customers exorbitant overdraft fees.

  • October 19, 2011

    Auditors Can't Shake $50M Suit Over Alleged Fraud Miss

    A California judge refused Wednesday to dismiss Paron Capital Management LLC's $50 million suit accusing its ex-accounting firm of failing to properly vet a corrupt potential business partner with whom the hedge fund ultimately teamed up, costing it millions in damages.

  • October 19, 2011

    Ex-IBM Exec Urges 2nd Circ. To Let Him Stay At HP

    A former head of IBM Corp.'s information technology unit who left for rival Hewlett-Packard Co. pressed the Second Circuit on Wednesday to affirm a ruling that allowed him to keep working for HP despite a noncompete agreement he had signed while at IBM.

  • October 19, 2011

    Ex-Orrick Atty Denied Punitive Damages In Promotion Row

    A former Orrick Herrington & Sutcliffe LLP associate who claims he was falsely promised a promotion to get him to stay with the firm lost his bid Tuesday to appeal a New York court’s ruling denying punitive damages in his contract and fraud suit.

  • October 19, 2011

    9th Circ. Affirms Class In BNY Suit Over Ponzi Scheme

    The Ninth Circuit on Tuesday denied Bank of New York Mellon Corp. and Wells Fargo Bank NA’s bid to challenge class certification for investors accusing them of breach of contract for allegedly failing to prevent Medical Capital Holdings Inc. from misappropriating millions.

  • October 19, 2011

    CBS, Paramount Beat 'Happy Days' Stars' Fraud Claims

    A California judge on Wednesday axed fraud and conversion claims leveled against CBS Studios Inc. and Paramount Pictures by five former "Happy Days" cast members who claim they've been cheated out of $10 million in contractually promised merchandising fees.

  • October 19, 2011

    Innkeepers, Cerberus Reach $1B Deal Over 64 Hotels

    Innkeepers USA Trust agreed Wednesday in New York to sell 64 hotels to a unit of Cerberus Capital Management LP for a lowered price of $1.02 billion, averting a trial over the transaction and putting the hotel chain operator a major step closer to exiting bankruptcy.

  • October 19, 2011

    Claims Nixed In Suit Over Failed Stonewood Deal

    A Massachusetts federal judge on Tuesday threw out contract-related claims in a suit brought by private equity firm Stonewood Capital Management Inc. against an engineering firm over a failed acquisition, ruling that most of an agreement to complete the sale was not binding.

  • October 19, 2011

    Film Co. Wants Ch. 7 For ‘Real Housewives’ Star

    A film production company that won a $7 million judgment against a “Real Housewives of New York City” star sought Tuesday to have her Chapter 11 bankruptcy plan converted into a Chapter 7 liquidation because of her alleged financial mismanagement.

  • October 18, 2011

    Weather Channel Wants Ex-Forecaster's Case Arbitrated

    The Weather Channel LLC told a Georgia federal court Tuesday that a suit alleging it discriminated against a former meteorologist because of her U.S. Air Force Reserve service should be dismissed or stayed pending arbitration based on an agreement she signed.

  • October 18, 2011

    Developer Newport Wins $50M In Hollywood Contract Fight

    A Los Angeles jury awarded Newport Capital Advisors $50.3 million Thursday and Friday in a countersuit claiming real estate investment fund Commonfund Reality Investors LLC and its manager abandoned a partnership to co-own and develop four properties in Hollywood.

  • October 18, 2011

    Terex, Bucyrus Spar Over $1.3B Merger Price Adjustment

    Bucyrus International Inc. and Terex Corp. battled before a New York appeals court Tuesday over whether Bucyrus abused post-closing adjustments to reduce the price of its $1.3 billion purchase of Terex's mining equipment business.

  • October 18, 2011

    7th Circ. Lets Airlines Join Chicago's FEMA Snow Fight

    The Seventh Circuit on Monday allowed six airlines contractually obligated to cover some of Chicago's airport maintenance expenses to intervene in the city's suit against the Federal Emergency Management Agency over $6 million in snow removal costs following severe storms.