A New York state judge on Monday set aside the conviction of former Goldman Sachs Group Inc. programmer Sergey Aleynikov, who stood accused of stealing the financial giant’s computer code for its high-frequency trading platform, marking the second time a court has overturned his conviction.
Och-Ziff Capital Management Group LLC urged a New York federal judge on Thursday to dismiss class action allegations it artificially inflated stock prices by hiding Foreign Corrupt Practices Act investigations into multimillion-dollar payments it made in Africa, saying plaintiffs' complaint doesn't lay out enough specific facts pointing to bribery.
The former vice president of business development at a Pennsylvania sports agency who sued the company and its CEO alleging unpaid wages asked a New York federal judge Wednesday to deny the CEO’s motion to dismiss the case over a claim the lawsuit was improperly served.
Cushman & Wakefield Inc. has urged a New York federal judge to again dismiss a property owner's claim that it breached a management contract by failing to procure adequate insurance to cover the Wall Street Plaza building for damage from Superstorm Sandy, alleging the owner has changed its story and violated a prior court order.
A New York federal judge tossed an $84 million tax refund suit lodged by Hess Oil Virgin Island Corp. against the U.S. Virgin Islands on Thursday, ruling that the Virgin Islands do not qualify as the United States in light of its “unique” tax structure.
A New York federal judge on Thursday denied Amtrak's motion to reconsider an order dismissing certain insurers from a suit seeking compensation for rail damage caused by Superstorm Sandy, effectively pulling the excess insurers from a breach of contract trial set to begin next month.
A New York bankruptcy judge said Thursday he will approve Chassix Inc.'s strategy for slashing $463 million in debt as it looks to emerge from Chapter 11, rejecting two creditors' last-minute objection that the deal gave owner Platinum Equity LLC a sweetheart release.
Franklin Sports Inc. urged a New York federal judge Wednesday to let it file negligence counterclaims against a man who is seeking more than $10 million over his child's T-ball bat injury, reiterating that the father should be held responsible for allegedly holding batting practice indoors.
The Second Circuit has given some convicted criminals more time to move for their sentences to be vacated, including a former New York state senator convicted of corruption, saying Thursday that a conviction isn't considered final if a substantive restitution question is still pending.
Rockpoint Group and Maximus Real Estate are said to be close to paying $400 million for a 298-unit San Francisco residential property, while private equity firm Texas Pacific has reportedly signed an upsized 100,000-square-foot lease renewal in New York and Crayton Advisors is said to have bought two Chicago office properties for nearly $30 million.
Kaye Scholer LLP sought to dismiss six counts Wednesday from a former senior associate's $20 million suit alleging she was fired because of her gender and sexual orientation, contending she cannot demonstrate she was harmed for seeking a U.S. Equal Employment Opportunity Commission discrimination probe.
The Federal Reserve announced on Thursday that the New York branch of Dutch lender Rabobank has agreed to increase its anti-money laundering compliance after an examination of the bank revealed it wasn’t up to scratch.
Whole Foods Market Inc. admitted Thursday that some shoppers have been overcharged for foods that are prepared in its stores after the New York City Department of Consumer Affairs announced last month that an audit revealed improper pricing.
The Second Circuit's rulings Thursday in intern wage cases against the Hearst Corp. and Fox Entertainment Group Inc. broke new ground, but while some see the decisions as a big win for companies, the appeals court hasn't slammed the door on suits seeking pay for former interns, lawyers say.
Ascott Residence Trust has ventured into the U.S. hotel market for the first time with the $163.5 million purchase of a Times Square-area hotel, as it eyes future growth in the country, according to a Thursday statement.
The former head coach for the National Basketball Association's Charlotte, North Carolina, team failed to pay a Creative Artists Agency affiliate $100,000 in commission for managing his career, the agency alleged in a recent New York state court complaint.
The first half of 2015 saw a series of major rulings go against banks and other lenders, with the U.S. Supreme Court upholding the use of statistics to bring discrimination claims and affirming the rights of borrowers to rescind their mortgages.
Borders Group Inc. customers who lost out on $210 million in gift cards after the company went bankrupt have asked the Supreme Court to hear their case, saying the 11 circuit courts have 11 different rule sets governing when to dismiss a bankruptcy claim appeal.
In response to an amended complaint by a former S&P Ratings Services executive, the U.S. Securities and Exchange Commission offered a preview Wednesday of its arguments before the Eleventh Circuit, where it is challenging a Georgia district court’s ruling on the constitutionality of its in-house court.
A New York appeals court on Thursday rejected Proskauer Rose LLP’s bid to dodge a malpractice suit alleging that faulty legal advice triggered a more than $255 million tax liability for Overseas Shipping Group Inc., finding the oil tanker company had sufficiently pled a valid claim.
In Aurora Loan Services LLC v. Taylor, the New York Court of Appeals finally weighed in on the issue of standing that has been at the center of hundreds of contested residential mortgage foreclosure actions. It may now become very difficult for borrowers to found standing challenges on the grounds of a failure to deliver the promissory note to the lender prior to the commencement of an action, says Christopher Gorman of Westerman B... (continued)
The U.S. Supreme Court’s refusal to hear an appeal by Irving H. Picard over a Second Circuit ruling is a major blow to Picard’s expansive view of a trustee’s clawback power. The application of Section 546(e), as ruled by the Second Circuit, will require the dismissal of a substantial number of Picard’s claims against innocent Madoff victims, say attorneys with K&L Gates LLP.
With "right to try" measures that provide seriously ill patients access to experimental treatments being drafted in 40 states, drug and biologic developers have faced increasing pressure from patients and their advocates to make investigational drugs available for compassionate use. Vicki Norton of Duane Morris LLP has some advice for navigating the risks associated with allowing patients compassionate use of experimental drugs.
A recent English High Court decision in the case of DTEK Finance BV shows that European and U.S. issuers of bonds governed by New York and other U.S. law may be able to use an English scheme of arrangement to restructure them, say Devi Shah and Henry Glen of Mayer Brown LLP.
The Second Circuit's decision to allow negative guest satisfaction surveys to be used as a basis for termination in HLT Existing Franchise Holding LLC v. Worcester Hospitality Group, makes it easier for franchisers to terminate franchise agreements and still comply with the statutory and common law requirements for good cause or good faith and fair dealing, says Eugene Podesta at Baker Donelson LLP.
Whether on competition in the solar energy market, oversight of professional occupations or the safety of electronic payment systems, businesses should proactively engage with state attorneys general as they fulfill their consumer protection role, says Foley & Lardner LLP's Joseph Jacquot, a former Florida deputy attorney general and chief of staff of the attorney general’s office.
The Second Circuit's recent decision in Madden v. Midland Funding LLC calls into question the enforceability of bank- and thrift-originated loans that have subsequently been assigned to nonbank entities such as hedge funds, securitization vehicles, whole-loan purchasers and other investors, say Scott Cammarn and Nathan Bull of Cadwalader Wickersham & Taft LLP.
In legal marketing circles, there are few topics peddled about more than “hot tips” for improving your law firm’s website. Google it. You’ll find more advice than you could ever digest. However, there are larger trends in technology, culture and user behavior that are impacting firms in very significant ways and are not being talked about nearly as much as they should be, says Stephan Roussan, founder of consulting and web developm... (continued)
In Lido Beach Towers v. Denis A. Miller Agency Inc. the New York state appeals court affirmed a lower court’s order dismissing all claims of negligence, breach of contract and cross-claims against the individual insurance broker, demonstrating that under certain circumstances an argument based on agency principles may relieve a broker from personal liability for the alleged acts of his principal, says Sara Ward Mazzolla at Bressler... (continued)
Every so often counties decide to legislate on matters involving consumer product safety and a trend like the recent one in New York begins. Unfortunately, these laws introduced and considered by localities tend to be more about politics and headlines than safety and have little effect on actually improving the safety of children’s products, says Matthew Cohen of Mintz Levin Cohn Ferris Glovsky and Popeo PC.