New York

  • November 25, 2014

    Goldman Hit With More Metal-Rigging Claims

    A putative class on Tuesday added to allegations that Goldman Sachs Group Inc. and others unfairly pulled strings in metals markets with a suit that says the bank fixed prices in platinum and palladium, in what plaintiffs firm Labaton Sucharow LLP called the first nationwide suit over those metals.

  • November 25, 2014

    Samsung Can't Put Microsoft Royalty Row On Hold For Appeal

    After denying Samsung Electronics Co.’s bid to send its patent licensing contract dispute to arbitration, a New York federal judge on Tuesday refused to stay the case while Samsung seeks a Second Circuit appeal, ruling Samsung “completely failed” to show it was likely to succeed.

  • November 25, 2014

    RE Rumor Mill: York Downs, BCB Property, Wharton Realty

    York Downs golf course in Ontario has reportedly received a $366 purchase offer, while BCB Property is said to have paid nearly $81 million for a six-building mixed-use portfolio in New York and Wharton Realty has reportedly paid $52.5 million for a Philadelphia shopping mall.

  • November 25, 2014

    NY Judge Says $18M Venable Overcharge Suit Belongs In DC

    A New York judge on Tuesday said the Empire State is the wrong forum for a defense contractor's $18 million suit that accuses Venable LLP of gross overbilling for its work on a case against the government over a deal to lease military vehicles in Afghanistan.

  • November 25, 2014

    KeySpan Prevails In NY Plant Cleanup Coverage Battle

    A New York state jury has found in favor of KeySpan Gas East Corp. in its coverage dispute with Century Indemnity Co. over cleanup costs for polluted manufactured gas plant sites on Long Island, concluding that KeySpan's predecessor provided timely notice to the insurer, according to court documents made public Tuesday.

  • November 25, 2014

    2nd Circ. Says Chesapeake $1.3B Bond Buyback Too Late

    A split Second Circuit ruled Tuesday that Chesapeake Energy Corp. couldn’t call back and refinance $1.3 billion in bonds because it moved too late to notify investors, saying the indenture governing the bonds clearly laid out redemption period deadlines.

  • November 25, 2014

    State AGs Urge FTC To Strengthen Telemarketing Sales Rule

    Thirty-eight state and territorial attorneys general on Monday pressed the Federal Trade Commission to update its Telemarketing Sales Rule, saying it still doesn’t have the teeth to prevent telemarketers from deceiving consumers with tactics like novel payment methods and preacquired account information.

  • November 25, 2014

    Ampal CEO's Suit Says Bondholder Defamation Sunk Company

    The CEO of bankrupt energy investment holding company Ampal-American Israel Corp. sued bondholders in New York bankruptcy court on Monday claiming their "immoral, unconscionable conduct" in defaming the company and its leaders stalled a key ethanol project and drove the company toward insolvency.

  • November 25, 2014

    Judge Recommends $5.7M Penalty In Corporate Hijacking Suit

    A New York federal magistrate judge is recommending new civil penalties of $5.72 million against two men who prosecutors have said helped perpetrate “corporate hijackings” by fabricating business documents used in an international investment fraud and money laundering scheme.

  • November 25, 2014

    2nd Circ. Says Taxpayer Can't Appeal $13M Deficiency Win

    The Second Circuit in a summary order Tuesday dismissed a taxpayer’s appeal of a U.S. Tax Court decision that he didn't owe the Internal Revenue Service $13 million in delinquent taxes, saying he couldn't show he was harmed by the ruling.

  • November 25, 2014

    Lockheed, MTA Trade Post-Trial Barbs In $300M Contract Row

    New York's Metropolitan Transportation Authority and Lockheed Martin Corp. traded their last barbs Tuesday in federal court, with the MTA saying evidence established Lockheed breached its $300 million security technology contract “beyond doubt” and Lockheed telling the court to conclude it was wrongfully terminated by the MTA.

  • November 25, 2014

    Samsung Hit With TM Suit Over 'Milk' Streaming Music Service

    Samsung Electronics was sued for trademark infringement in New York federal court Monday by a multimedia firm called Milk Music, which claims Samsung stole its name for the company’s recently launched Milk Music Internet radio service.

  • November 25, 2014

    Blank Rome Snags Clifford Chance Restructuring Partner

    Blank Rome LLP has hired a former Clifford Chance LLP partner with more than 20 years of bankruptcy experience, including representing creditors of a defunct baseball team and helping negotiate Sharia-compliant debt financing, to work in the firm's New York office.

  • November 25, 2014

    Allstate Liable For 1 Limit In Lead Paint Suits: Top NY Court

    Separate tenants of a Rochester, New York, apartment who claimed injuries from exposure to lead paint must divide a single $500,000 Allstate Insurance Co. liability policy limit, New York's high court ruled Monday, finding that the exposures constituted a single occurrence despite efforts by the landlord to fix the condition.

  • November 25, 2014

    Vornado Drops $142M On Long Island City Office Building

    Vornado Realty Trust said Monday that it has agreed to buy an 8-story office building in Long Island City for roughly $142 million, the real estate investment trust's second deal topping $100 million this month.

  • November 25, 2014

    Deutsche Trust Wins Time To Refute Quicken In Bad Loan Suit

    A Manhattan judge on Tuesday gave Deutsche Bank National Trust Co. time to address evidence that Quicken Loans Inc. says proves the trust sued too late in its bid to win repayment for allegedly defective Quicken loans that went into investment securities.

  • November 25, 2014

    NY Judge 'Troubled' By Proposed China Valves Settlement

    A New York federal judge has rejected a preliminary proposed settlement in a shareholder derivative suit against China Valves Technology Inc., saying he was “troubled” by some terms of the settlement.

  • November 25, 2014

    Algonquin Grabs Stake In Kinder Morgan Pipeline Project

    Canadian utility Algonquin Power & Utilities Corp. said Monday that it will take a piece of Kinder Morgan Inc.’s proposed $6 billion natural gas pipeline expansion project in the Northeast, potentially sinking up to $400 million in the project.

  • November 25, 2014

    BofA Escapes $56M Mortgage Bond Suit In 2nd Circ.

    The Second Circuit on Tuesday refused to revive a German bank's suit alleging Bank of America Corp. duped it into investing $56 million in shoddy mortgage bonds before the 2008 financial crisis.

  • November 24, 2014

    GM Can't Keep Calif. Ignition Switch Suit Out Of State Court

    A New York federal judge on Monday remanded a California district attorney’s suit against General Motors LLC over its ignition switch defect back to state court, agreeing with the prosecutor that it was exempt from removal as a police-power action.

Expert Analysis

  • Remembering Doar: Justice As A 4-Letter Word

    Kevin J. Curnin

    John Doar ran the U.S. Justice Department's Civil Rights Division at perhaps the most chaotic and pivotal time in its history. His passing earlier this month is an occasion for lawyers everywhere to marvel at just how impactful one attorney can be. He didn’t just preside at a historic time, he calmly and coolly shaped it, says Kevin Curnin of the Association of Pro Bono Counsel.

  • IRS Disregards Own Revenue Ruling In Barnes Decision

    Jeffrey L. Rubinger

    In a case involving a series of stock transactions by Barnes Group Inc., the U.S. Tax Court and the Second Circuit both held that the taxpayer unreasonably relied on an IRS revenue ruling, making it difficult for a taxpayer to ever be able to rely on a revenue ruling with any degree of certainty, say Jeffrey Rubinger and Nadia Kruler of Bilzin Sumberg Baena Price & Axelrod LLP.

  • States Still Fighting Bad-Faith Patent Infringement Claims

    Michael Martinez de Andino

    With 17 states having enacted legislation against bad-faith patent infringement assertions and 12 reviewing proposed legislation, states are sending a clear message that the current patent demand letter business model is insufficient to protect companies from unscrupulous patent holders, say Michael Martinez de Andino and Matthew Nigriny of Hunton & Williams LLP.

  • What If States Opt Out Of EPA's Existing Source Rule?

    Scott C. Oostdyk

    The initial legal question surrounding the Obama administration's Clean Power Plan is whether long-standing principles of federalism allow the U.S. Environmental Protection Agency to compel states to enforce a federal program like it — legal precedent establishes that the EPA cannot, say Scott Oostdyk and Duncan Getchell Jr. of McGuireWoods LLP.

  • Obama's Immigration Action Is Cause For Celebration

    Robert S. Whitehill

    Though implementation of President Obama's announced changes to U.S. immigration policy on Nov. 20 will take some time and may be slowed by legal action or accelerated by Congress enacting immigration reform, the president's executive action will give hope and relief to millions, which is cause for celebration, says Robert Whitehill of Fox Rothschild LLP.

  • Does Dodd-Frank Protect Foreign Whistleblowers?

    Matthew K. Edling

    In Liu v. Siemens, the Second Circuit upheld a ruling from the Southern District of New York, concluding that Congress did not envision the Dodd-Frank Act protecting foreign whistleblowers. Neither Liu court, however, attempted to reconcile this conclusion with the fact that Dodd-Frank governs violations of the Foreign Corrupt Practices Act — a definitively extraterritorial law, say Matthew Edling and Ben Fuchs of Cotchett Pitre & McCarthy LLP.

  • Novartis FCA Case Reaffirms Importance Of Company Policies

    Michael Loucks

    To the extent other courts adopt the New York federal court's analysis in U.S. v. Novartis Pharmaceuticals Corporation, the collateral consequence of an employee breach of internal policy or industry code of ethics and a corporate failure to appropriately sanction those employees could yield adverse consequences in the event of follow-on federal False Claims Act litigation, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Has NYC Added A 4th Test For Determining Combined Group?

    Jessica L. Kerner

    In the matter of the petition of Astoria Financial Corp. & Affiliates, an administrative law judge determined that the federal savings and loan association was not required to include a subsidiary in its combined New York City bank tax return. It appears, however, that in addition to focusing on the three statutory criteria for requiring a combined return, the city audit also raised a fourth criterion, say Jessica Kerner and Leah R... (continued)

  • Don't Be Shocked By NY's 'Surprise Bills' Law

    Jackie Selby

    New York's recently enacted Emergency Medical Services and Surprise Bills law will impact billing and reimbursement for some out-of-network health care services, require new disclosures from providers regarding their health plan participation status and add new rules for health plans regarding networks and reimbursement for out-of-network services, says Jackie Selby of Epstein Becker & Green PC.

  • Dewey Partner Clawback Ruling May Hurt New York Law Firms

    Evan C. Hollander

    Unless the recent ruling in the Dewey & LeBoeuf LLP bankruptcy case is overturned on appeal or the New York Legislature amends the state’s fraudulent transfer and partnership laws, partners of New York firms will bear greater risk if their firms fail than will members of many non-New York partnerships. This risk factor might even affect decisions by prospective lateral partners about which firms to join, say attorneys with Arnold & Porter LLP.