New York

  • October 21, 2014

    Actavis Wins Bid To Keep Parts Of Antitrust Suit Under Seal

    A New York federal judge, citing concerns of competitive disadvantage, on Tuesday ordered that profit projections and other financial information remain confidential in the New York attorney general's suit accusing Actavis PLC and Forest Laboratories LLC of product-hopping antitrust claims over dementia drug Namenda.

  • October 21, 2014

    Bank Of China Terror Case Judge Wants Info On Cantor Role

    U.S. District Judge Shira A. Scheindlin on Tuesday suggested former U.S. House Majority Leader Eric Cantor detail his contacts with Israeli officials in order to refute a call for him to testify about his alleged intervention in a lawsuit alleging The Bank of China Ltd. financially supported Hamas.

  • October 21, 2014

    Paramount Burned 'Mean Girls' Investors, Trial Judge Hears

    Paramount Pictures Corp. hoodwinked a group of investors into bankrolling a largely unsuccessful slate of movies in 2004 that included the surprise hit “Mean Girls,” a plaintiffs attorney said in New York federal court Tuesday at the start of a bench trial.

  • October 21, 2014

    NYCLU Strikes 'Historic' Public Defense Deal With NY

    A class action settlement Tuesday between the New York Civil Liberties Union and the state will provide $5.5 million over two years to ensure indigent criminal defendants in five counties are represented by a public defender at arraignment, in what social justice advocates called a “historic” overhaul of New York’s public defense system.

  • October 21, 2014

    Haynes And Boone Steers Schulte Roth's NYC Lease Renewal

    Schulte Roth & Zabel LLP has renewed its lease for the firm's 283,894-square-foot New York headquarters, signing a 15-year renewal with New York-based real estate investment trust SL Green Realty Corp., Schulte Roth and SL Green, the latter represented by Haynes and Boone LLP, said Tuesday.

  • October 21, 2014

    Barclays Can't Escape Investors' Libor Manipulation Claims

    A New York federal judge on Monday refused to dismiss a putative investor class action alleging Barclays PLC manipulated the London interbank offered rate and covered it up through misstatements, ruling that the plaintiffs sufficiently alleged that the financial services company acted with fraudulent intent.

  • October 21, 2014

    WTC Group Struggles To Get Merchandise Trademarks

    The embattled nonprofit that owns the trademark for “World Trade Center” is appealing a recent ruling that said it couldn't register the name for selling apparel — the latest in a string of trademark office decisions finding that consumers link the name to the Sept. 11 attacks, not to a source of merchandise.

  • October 21, 2014

    Griffin-American Puts Up $135M For Medical Office Portfolio

    California-based Griffin-American Healthcare REIT III Inc. said Tuesday it will pay $135 million for five medical office buildings in New York, New Jersey, Massachusetts and Kentucky, in a move intended to bolster the real estate investment trust’s health care holdings in growing urban markets.

  • October 21, 2014

    NY Claims Ocwen Backdated Letters On Mortgage Loans

    The New York State Department of Financial Services on Tuesday slammed Ocwen Financial Corp. for allegedly sending backdated letters regarding its mortgage loans, saying hundreds of thousands of borrowers may have been hurt by the practice.

  • October 21, 2014

    Getty Trustee Settles With Feds Over $700M Cleanup Bill

    Getty Petroleum Marketing Inc.’s Chapter 11 trustee will allow the federal government a $16 million claim against its estate as a settlement of Getty's potential $700 million liability connected to environmental contamination at a Long Island City, New York, site, according to court papers entered Tuesday.

  • October 21, 2014

    Magna Hospitality Nets $135M In Sale Of 2 NYC Hotels

    Magna Hospitality Group has sold two Midtown Manhattan hotels for a combined $135 million, according to New York public records filed on Monday.

  • October 21, 2014

    HSBC Retaliated Against Fired Exec's Accusers, Suits Claim

    HSBC (USA) Securities Inc. is facing a pair of lawsuits in New York federal court alleging it retaliated against employees who reported that a now-fired executive was sexually harassing a female subordinate, including by pressuring her to have sex with bank clients.

  • October 21, 2014

    Family Moves To Ax Lien Priority At Iran-Owned NYC Building

    The family of a U.S. diplomat killed by Iranian terrorists in 1984 asked a New York federal court on Tuesday to deny their rival plaintiffs' lien priority motion in a dispute over the Iran-backed ownership of 650 Fifth Ave. in Manhattan, alleging they failed to show they hold liens on the properties.

  • October 21, 2014

    Ex-SAC Trader Martoma Can’t Dodge Jail During Appeal

    Former SAC Capital Advisors LP manager Mathew Martoma on Tuesday lost his bid for bail while he appeals his nine-year prison sentence and conviction for orchestrating a $275 million insider trading scheme, a New York judge ruled, finding the appeal's chances of success to be slim.

  • October 21, 2014

    Anderson Kill Dodges $10M Malpractice Suit Over Insurer Row

    A New York judge on Tuesday threw out a health care company’s legal malpractice action that claims Anderson Kill PC botched an employment insurance coverage case, saying the plaintiff hasn't properly alleged that the firm was liable for $10 million in insurance losses.

  • October 21, 2014

    'Hot Asset' Partnership Regs Imminent, Treasury Official Says

    The IRS may as soon as this week release anticipated regulations on the tax treatment of so-called "hot assets" upon the sale of a taxpayer's full or partial interest back to a partnership, a U.S. Department of the Treasury official said Tuesday in New York.

  • October 21, 2014

    IRS Historic Tax Credit Guidance Leaves Lingering Questions

    The Internal Revenue Service revitalized a wary and stalled historic tax credit industry last winter when it issued guidance clarifying when investors can reap the credits, but its safe harbor rules contain a sensitive spot when it comes to market standards, an expert said Tuesday at an NYU conference.

  • October 21, 2014

    Staples Probes Potential Credit Card Data Breach

    Staples Inc. said late Monday that it is investigating “a potential issue involving credit card data,” amid reports that the retailer has become the latest company to have its customers' data hacked.

  • October 21, 2014

    NY Court Revives Defamation Suit Against Syracuse Coach

    New York's highest court on Tuesday revived a defamation suit against Syracuse University men's basketball coach Jim Boeheim brought by two men who accused his former assistant of molestation, finding Boeheim was not engaging in pure opinion when he said the men were liars out for a payday.

  • October 21, 2014

    RE Rumor Mill: Tokyo Bank, Co-Op Record, UBS Realty

    A unit of The Bank of Tokyo-Mitsubishi UFJ Ltd. is said to have signed a mega three-floor lease in midtown Manhattan, while a Ukrainian billionaire is reportedly the buyer behind a record $80 million co-op sale in New York City, and a brand-new Florida apartment complex is said to have traded to UBS Realty for $111.5 million.

Expert Analysis

  • Novel Theory In Wyly Case Could Change SEC Disgorgement

    Bruce M. Bettigole

    The Southern District of New York ruling that Dallas billionaire Sam Wyly and the estate of his late brother are liable for the disgorgement of unpaid taxes in connection with securities fraud violations has set an important precedent in determining the monetary remedies the U.S. Securities and Exchange Commission may seek, say attorneys with Sutherland Asbill & Brennan LLP.

  • 2nd Circ. Fails To See The Comity In Chapter 15

    Daniel M. Glosband

    The Second Circuit in the case of Fairfield Sentry Ltd. missed the point that applying Section 363 to the sale of a Securities Investor Protection Act claim — in the context of a Chapter 15 ancillary proceeding — to the same extent that it would apply to property of an estate does not eliminate the principles of comity that infuse Chapter 15, say Daniel Glosband and Kizzy Jarashow of Goodwin Procter LLP.

  • FLSA Case Is A Guide To Using Independent Contractors

    Larry S. Perlman

    Saleem v. Corporate Transportation Group Ltd., the "black car" driver case brought under the Fair Labor Standards Act and the New York Labor Law, provides excellent examples for employers to better navigate the legal landscape of independent contractor status given the case's examination of contracts and control over contractors, say Larry Perlman and Tamar Dolcourt of Foley & Lardner LLP.

  • In Zoning Due Diligence, Creative Interpretation Is Key

    Frank E. Chaney

    It is a given that zoning should be a part of every developer’s due diligence. The question is, though, how much zoning analysis is enough and who should provide it, says Frank Chaney of Rosenberg & Estis PC.

  • 2nd Circ. Expands US Court Role In Ch. 15 Cases

    George W. Shuster Jr.

    In a recent Madoff-related decision, the Second Circuit took a relatively aggressive stance on U.S. court review of asset sales in Chapter 15 cases, and the ruling may have effects in bankruptcy cases outside Chapter 15, say George Shuster and Benjamin Loveland of WilmerHale.

  • OPINION: Don't Mess With... Arizona?

    Michael Li

    Fifty years ago, Justice Felix Frankfurter cautioned courts about getting mired in the “political thicket” of redistricting. In agreeing to hear Arizona State Legislature v. Arizona Independent Redistricting Commission, the U.S. Supreme Court could be about to take a big step further into that thicket, says Michael Li, counsel at the Brennan Center for Justice, NYU School of Law.

  • Tug-Of-War: Attorney-Client Privilege Vs. Deposition

    There is an inherent tension between the process of preparing a corporate representative to testify and the protections usually afforded by attorney-client privilege. Judicial decisions addressing these tensions are limited and, as of yet, the Federal Circuit Courts of Appeals do not appear to have weighed in on these issues in any meaningful way, say Vanessa Miller and Nicholas Ellis of Foley & Lardner LLP.

  • Take Extra Steps When Social Media Page Is Evidence

    Steven Richard

    The Second Circuit recently vacated a conviction in U.S. v. Zhyltsou because the trial court improperly admitted social media evidence that the government tied to the defendant without sufficient proof of its authenticity. The foundational prerequisites to authenticate and admit website evidence must be carefully considered and developed before presentation at trial, say attorneys with Nixon Peabody LLP.

  • Clarity Over Insurance Broker Liability Comes To NY, NJ

    Robert D. Chesler

    Both Huggins v. Liberty Mutual Insurance Co. and Duffy v. Certain Underwriters at Lloyds of London offer lessons for policyholders — they should seek the broadest coverage possible and look to hold their brokers liable when failing to provide the coverage originally promised, say attorneys at Anderson Kill PC.

  • NY Court Clarifies When Yellowstone Relief Is Appropriate

    Jesse B. Schneider

    It has long been believed in New York that a Yellowstone injunction is not available in an action stemming from a default based solely upon the nonpayment of rent. However, the recent decision rendered and analysis proffered by a state court in Sagi Restaurant Corp. v. Brusco W. 78th St. LLC serves to debunk this notion, says Jesse Schneider of Davis & Gilbert LLP.