• October 26, 2016

    US Bank Exits RICO Suit Over Insurance Payment Scam

    U.S. Bank was cut loose from a Racketeer Influenced and Corrupt Organizations Act suit over an alleged insurance payment scam when an Illinois federal judge ruled Wednesday that a group of business owners had failed to properly respond to the bank's and a group of insurers' motions to dismiss.

  • October 26, 2016

    9th Circ. Nixes $5.3M In Sanctions Against Attys, Firms

    The Ninth Circuit tossed a contempt order Wednesday that levied $5.3 million in sanctions against two attorneys and their law firms for allegedly violating an injunction in the Consumer Financial Protection Bureau’s case against debt relief company Morgan Drexen Inc., saying a lower court wrongfully bound them to the injunction.

  • October 26, 2016

    Money Tree Execs Owe $3M Damages To Creditors, Jury Says

    A Georgia federal jury on Wednesday awarded creditors of defunct payday lender Money Tree Inc. more than $3 million in actual and punitive damages, finding that relatives of the company’s late founder and its former chairman did not act in the best interests of the creditors.

  • October 26, 2016

    Ex-AIG CFO Says He Was Against Key Deal In Fraud Case

    The former chief financial officer of American International Group Inc. took the witness stand on Wednesday in New York state court in the fraud trial of the executive and former AIG CEO Maurice “Hank” Greenberg, and said he was against one of the reinsurance deals at the heart of the government’s case.

  • October 26, 2016

    Ransomware Attacks Set To Quadruple In 2016, Beazley Says

    Ransomware attacks have hit the financial services, retail and hospitality industries especially hard this year, according to data breach response insurer Beazley, which said Wednesday that the number of these hacks among its entire client base in 2016 is on pace to be four times higher than last year.

  • October 26, 2016

    IRS Tells 5th Circ. Dual Citizen Can’t Sue Over Potential Fine

    The IRS pressed the Fifth Circuit on Wednesday not to revive a dual Swiss-U.S. citizen's dispute over a potential $1.4 million IRS penalty for not disclosing his foreign account, arguing a lower court properly tossed the suit because no penalty has yet been imposed.

  • October 26, 2016

    Banks Ask Justices To Review Revived Libor Antitrust Suit

    Bank of America, Citigroup and JPMorgan Chase recently told the U.S. Supreme Court that the Second Circuit erred in reviving an antitrust lawsuit that accused them and 13 others of rigging the London Interbank Offered Rate, arguing that their actions didn’t hurt competition in any way.

  • October 26, 2016

    People’s United Bank Can’t Duck $400M EB-5 Suit: Investors

    Investors in a $400 million EB-5 visa suit accusing Vermont ski resorts Jay Peak and Q Burke of stealing and misusing funds alleged Tuesday in Florida federal court that People's United Bank knowingly participated in the fraudulent scheme.

  • October 26, 2016

    Lender’s OK On Modification Backs Cert., Homeowner Says

    A homeowner asked a Pennsylvania federal judge to reconsider his rejection of class certification in a suit alleging a defunct Morgan Stanley unit failed to make a homeowner’s loan modification permanent despite acknowledging that he had complied with the program’s requirements, saying the judge interpreted his contract improperly.

  • October 26, 2016

    OCC To Open Innovation Office To Boost Fintech At Banks

    The Office of the Comptroller of the Currency on Wednesday announced the creation of a new office aimed at helping banks and other companies develop financial technology products and services that comply with federal law while meeting safety and consumer protection standards.

  • October 26, 2016

    Rainmaker Q&A: Orrick's Christina Guerola Sarchio

    For one of my clients it took me 10 years to get my first matter from them. You have to remember that there are lots of lawyers out there, and lots of relationships already in place. Persistence and resilience are key, says Christina Guerola Sarchio, chairwoman of the class action strike team at Orrick Herrington & Sutcliffe LLP.

  • October 26, 2016

    NLRB Urges 5th Circ. To Enforce Class-Waiver Ban For Citi

    The National Labor Relations Board on Monday asked the Fifth Circuit to enforce its order barring Citigroup from using a class action waiver in its mandatory arbitration agreement, despite acknowledging competing court precedent on the issue. 

  • October 26, 2016

    Real Estate Rumors: HFZ Capital, Stiles, ABS Partners

    HFZ Capital is reportedly in late-stage talks for $1.2 billion in financing for a project that includes hotel and retail components, Stiles is said to have paid $13.1 million for a Florida Bank of America drive-through, and an ABS Partners venture has reportedly paid $17 million for a New York medical office building.

  • October 26, 2016

    M&T Says Class Case Fails In Suit Over $3.7B HCB Merger

    Shareholders who challenged Hudson City Bancorp Inc.’s merger with M&T Bank last year made lots of money but haven't made enough of a case to salvage their putative class challenge to the $3.7 billion deal, an M&T attorney told a federal judge in Delaware on Wednesday.

  • October 26, 2016

    Wells Fargo Hits Back At Feds In $76M Tax Credit Suit

    Wells Fargo should not have to prove its entitlement to foreign tax credits under the “substance over form” doctrine in a $76 million tax dispute, the bank told a Minnesota federal court Tuesday, because the U.S. government’s pretrial arguments featuring the doctrine are “legally flawed.”

  • October 26, 2016

    UBS, Barclays Settle With Bondholders In Libor Suit

    Bondholders suing major banks for allegedly conspiring to manipulate the London Interbank Offered Rate told a Manhattan federal judge on Wednesday that they have settled with UBS AG and Barclays Bank PLC.

  • October 26, 2016

    Ex-DOJ Criminal Chief Sees Red Flags In FCPA Pilot

    The former head of the U.S. Department of Justice’s Criminal Division said Wednesday that a requirement under a pilot Foreign Corrupt Practices Act disclosure program forcing companies to step back from conducting their own investigations raises serious concerns.

  • October 26, 2016

    FDIC Nabs $5M Jury Award In Receiver Suit Over Bank Failure

    The Federal Deposit Insurance Corp. scored a nearly $5 million jury award in Georgia federal court Tuesday in litigation it brought as receiver for Buckhead Community Bank, which accused a number of the now-defunct bank’s former officers and directors of negligently managing its loan portfolio.

  • October 26, 2016

    Rainmaker Q&A: Rutan & Tucker's Shigenobu Itoh

    It’s opportunities where perhaps you don’t actually land an engagement that can turn out to be great substantive learning experiences for young lawyers in developing their nonlegal skills. They can serve as a catalyst to conduct some personal introspection, says Shigenobu Itoh, partner at Rutan & Tucker LLP.

  • October 25, 2016

    Investors Mine Gold, Silver Rulings In Platinum Suit

    Investors accusing Goldman Sachs, HSBC and others of fixing the prices of palladium and platinum fired back Monday at bank attempts to dismiss their claim that recent decisions in similar gold and silver price-fixing suits show they have standing to bring their class action case.

Expert Analysis

  • Post-Spokeo, Standing Challenges Remain Unpredictable

    Ronnie Solomon

    Since Spokeo, a number of courts have weighed in on whether an alleged statutory violation of a state statute — as opposed to a federal one — suffices as a concrete injury in fact. But the treatment of the issue has not been uniform and the procedural quirks that have arisen add further uncertainty to an already convoluted area of the law, say Ronnie Solomon and Tyler Newby of Fenwick & West LLP.

  • What The Media Gets Wrong About Arbitration

    Michael Fehner

    Recently, arbitration has been getting an increasingly bad rap from major media outlets. There appears to be a growing public distrust of arbitration as a dispute resolution mechanism, which portends harmful consequences to the legal system as a whole, says Michael Fehner of Irell & Manella LLP.

  • When Your Client Is The President

    Peter J. Wallison

    I was given immediate responsibility for responding to the Iran-Contra crisis. My problem as a lawyer was what to do about all the requests for files, documents and other information that were coming in from investigators. Ultimately, it came down to this: What do I believe about my client? says Peter Wallison, who served as White House counsel for President Ronald Reagan.

  • When Your Client Is The President

    Fred F. Fielding

    The experience of preparing for the 1981 air traffic controller strike brought home to me the responsibility a lawyer owes to his or her client — be it an average citizen, a corporation or a president, says Morgan Lewis & Bockius LLP partner Fred Fielding, who served as White House counsel for Presidents Ronald Reagan and George W. Bush.

  • Bridging The Gap Between Outside And Inside Counsel

    Andrew S. Chamberlin

    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.

  • Extraterritoriality: The ATS In Focus

    Perlette Michèle Jura

    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.

  • When Your Client Is The President

    William E. Casselman II

    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.

  • So You Want To Be A Partner? You Need A Mentor

    Rebecca Glatzer

    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.

  • OPINION: The 2nd Circ.'s Misguided Approach To Antitrust

    David Balto

    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 Supreme Court Vacancy And An Equally Divided Court


    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.