New York

  • March 4, 2015

    Atty Says Orrick Got Him Fired After Failed DQ Bid

    An ex-Handler Thayer LLP attorney sued Orrick Herrington & Sutcliffe LLP in New York federal court Tuesday claiming Orrick attorneys got him fired after he was sanctioned by the Second Circuit for trying to disqualify Orrick, allegations he raised unsuccessfully at the Second Circuit and that Orrick vehemently denies.

  • March 4, 2015

    Pomerantz Nabs Lead In Petrobras Securities Class Row

    Pomerantz LLP will take the helm on a consolidated group of securities class actions over revelations of rampant corruption at Petroleo Brasileiro SA, working as lead counsel together with lead plaintiff Universities Superannuation Scheme Ltd., according to a short order issued Wednesday by U.S. District Judge Jed S. Rakoff.

  • March 4, 2015

    'Deceitful' NY Broker Ordered To Pay $3.8M For Ponzi Scheme

    A New York broker-dealer who pled guilty to running a Ponzi scheme to finance his real estate investments was ordered to pay his alleged victims $3.8 million in restitution in federal court Tuesday.

  • March 4, 2015

    Real Estate Rumor Mill: Willis Tower, Google, Essex

    Willis Tower is reportedly for sale and may already have a buyer, while Google is said to have paid WebMD to move out of a New York space and REIT Essex Property Trust has reportedly paid $67 million for a Northern California apartment development site.

  • March 4, 2015

    LightSquared Judge Says No More Delays To Ch. 11 Trial

    LightSquared Inc. is heading toward another contested trial on a strategy to emerge from bankruptcy protection, but lawyers for its fiercest opponent and largest single creditor, Dish Network Corp. Chairman Charlie Ergen, said they would seek yet more delay to appeal an unfavorable ruling.

  • March 4, 2015

    Celebrity Chef Todd English Sued Over Worker Pay Policy

    Celebrity chef Todd English and his Union Square restaurant, Olives New York, were hit with a collective action in New York federal court Tuesday alleging that restaurant employees were forced to comply with time-shaving practices that bilked them of their full earned wages and overtime.

  • March 4, 2015

    Rennert Missed Chance For Mistrial Over $118M Verdict: Judge

    A New York federal judge on Wednesday said she refused billionaire Ira Rennert’s request for a mistrial after a jury ordered him to pay $118 million for taking shareholder dividends from bankrupt Magnesium Corp. of America because the defendants had waived their argument.

  • March 4, 2015

    Major Airlines Fight For $49M Pipeline Refund Before FERC

    Delta Air Lines Inc. and four other carriers argued in prehearing briefs with the Federal Energy Regulatory Commission this week they should receive between $42 million and $49 million in refunds for overpriced fuel deliveries to three airports in the New York metropolitan area.

  • March 4, 2015

    SEC Tries To Cash In On Tossing Of In-House Court Challenge

    Attorneys for the U.S. Securities Exchange Commission on Wednesday asked a New York federal judge to toss a former Standard & Poor’s Rating Services executive's challenge to the agency's in-house court, citing a recent decision by a different judge to throw out a similar complaint raising the same constitutional challenges.

  • March 4, 2015

    Temp Attorney Fights To Revive OT Suit Against Skadden

    Document review work performed by lawyers doesn't necessarily qualify as the practice of law, an attorney said Tuesday in a brief urging the Second Circuit to revive his proposed collective action accusing Skadden Arps Slate Meagher & Flom LLP of unlawfully denying temp lawyers overtime pay.   

  • March 4, 2015

    Getty Petroleum Reaches $170M Claim Deal With REIT

    The liquidator for Getty Petroleum Marketing Inc. on Tuesday asked a New York bankruptcy judge to sign off on a deal over $266 million in claims asserted by units of real estate investment trust and creditor Getty Realty Corp. that gives the REIT a claim of $170 million with a $550,000 cash distribution.

  • March 4, 2015

    Jury Smacks Wu-Tang Label With $200K Copyright Verdict

    A Manhattan jury on Wednesday hit Soul Temple, a record label with ties to the Wu-Tang Clan, with a $200,000 copyright infringement verdict for willfully grabbing two images of boomboxes produced by Lyle Owerko from the Internet for use on Wu-Tang rapper U-God's 2013 solo album “The Keynote Speaker” and related merchandise.

  • March 4, 2015

    Fried Frank, Herrick Feinstein Steer $102M Buy Of NoMad Site

    Fried Frank Harris Shriver & Jacobson LLP represented JD Carlisle LLC in its $102 million purchase of a development site in Manhattan's NoMad neighborhood, with a deed for the site filed Tuesday and Herrick Feinstein LLP counseling seller Rabina Properties LLC on the transaction.

  • March 4, 2015

    UKP Holdings Says IRS Won't Let Go Of $6 Million Refund

    Investment company UKP Holdings Inc. on Tuesday sued the Internal Revenue Service in a New York federal court for a refund of more than $6.3 million in taxes that the agency allegedly owes but has not coughed up after a yearslong mix-up over the company’s capital losses.

  • March 4, 2015

    Lehman Settles Bond Swap Fight Over Giants Stadium

    Lehman Brothers Holdings Inc. has put to rest a lingering dispute over soured swaps deals to finance the construction of MetLife Stadium, reaching a settlement with an affiliate of the New York Giants football team that claimed it was owed $302 million on interest hedges.

  • March 4, 2015

    Distillery Finds Bar's Similar Name Hard To Swallow

    Black Dirt Distilling LLC has socked Netsirk LLC with a complaint in New York federal court claiming Netsirk infringed the distillery's trademark by expropriating the Black Dirt moniker, using it for publicity and to further a restaurant's profits.

  • March 4, 2015

    Former NYC Pol Gets 10 Years For Bribery Schemes

    Former New York City Councilman Daniel Halloran was sentenced Wednesday to 10 years in prison for his role in separate corruption schemes, including an alleged plot to bribe GOP leaders in exchange for letting a Democratic state senator run for mayor as a Republican.

  • March 4, 2015

    Madoff Investors Win Class Cert. In Suit Against PwC, Citco

    A New York federal judge on Tuesday again certified a class of investors accusing PriceWaterhouseCoopers LLP and Citco Group Ltd. of misleading them about the quality of feeder funds involved in Bernie Madoff’s Ponzi scheme after the Second Circuit vacated his previous decision in 2014.

  • March 4, 2015

    Novartis Told To Produce Docs In Kickbacks Suit By March 13

    A New York federal judge on Wednesday ordered Novartis Pharmaceuticals Corp. to hand over unredacted documents and privilege logs by March 13, resolving for the moment a dispute over document deadlines in the False Claims Act suit alleging the company paid kickbacks to pharmacies.

  • March 4, 2015

    Trump Agency Urges Axing Of Jamaican Model's Wage Suit

    Trump Model Management on Tuesday urged a New York federal judge to toss a putative class action alleging it exploited and underpaid foreign models, arguing the suit boils down to a faulty breach of contract claim.

Expert Analysis

  • A Critical Step Toward Reining In Class Standing Doctrine

    Christopher Houpt

    In NECA-IBEW v. Goldman Sachs, the Second Circuit arguably opened up a new door in class action litigation when it held that investors in one securities offering had standing to represent a putative class of investors in other offerings. But the court’s decision in Policemen’s Annuity and Benefit Fund v. The Bank of New York Mellon clarifies and narrows that ruling, say Christopher Houpt and Matthew Ingber of Mayer Brown LLP.

  • Crunching The Numbers In NYDFS' Cybersecurity Report

    Mary Jane Wilson-Bilik

    While all insurers surveyed in the New York Department of Financial Services' cybersecurity report claimed to have engaged in penetration testing of their systems, the NYDFS noted that the results of this testing can become quickly outdated as new threats emerge, say Mary Jane Wilson-Bilik and John Pruitt of Sutherland Asbill & Brennan LLP.

  • Inclusionary Housing And Its Takings Law Challenges

    Ross F. Moskowitz

    As Mayor Bill de Blasio highlighted in his recent state of the city address, New York City is poised to launch a mandatory inclusionary housing program. Among the potential legal issues raised by such programs are whether they constitute unconstitutional “takings” by the government, say attorneys with Stroock & Stroock & Lavan LLP.

  • The Rise Of 'Yankee Loans' In Europe

    Andrew Brown

    There has been a steadily increasing trend of European borrowers raising financing under so-called “Yankee loans” — where the credit facility is syndicated to U.S. investors, is governed by New York law and has typical U.S.-style incurrence covenants. It is likely that the volume of these loans will continue to increase, particularly for high-value mergers and acquisitions, say Andrew Brown and Mark Ramsey of Skadden Arps Slate Mea... (continued)

  • Investing In NYC Real Estate? Get Ready For Rent Laws

    Blaine Z. Schwadel

    New York City rent regulation started as a form of emergency rationing during and after World War II. But housing is a political subject, especially in New York City, and the emergency hasn’t gone away in the last 70 years — at least not in the minds of those who keep renewing the confusing overlay of regulations, says Blaine Schwadel of Rosenberg & Estis PC.

  • Making The Economics Of NY Energy Storage Systems Work

    Michael A. Stosser

    The value proposition for energy storage is demonstrated through the integration of renewable resources, load balancing, efficiency and demand response, as well as the deferral of transmission and distribution infrastructure development — it is this value that will drive continued deployment, say Michael Stosser and Kyle Wamstad of Sutherland Asbill & Brennan LLP.

  • Privacy Settings Won't Keep Social Media Posts Out Of Court

    Robin Perkins

    A Florida appellate court recently upheld a lower court’s order compelling the plaintiff to produce photographs originally posted to her Facebook page. This ruling in Nucci v. Target Corp. adds to the growing body of law holding that data and information posted on social media websites is not subject to special protection, say Robin Perkins and Casey Perkins of Snell & Wilmer LLP.

  • This Week In Congress: Netanyahu's Controversial Visit

    Richard A. Hertling

    As predicted, Congress managed to avoid a Department of Homeland Security shutdown, but the continuing resolution was shorter than expected. Both chambers will need to spend time this week trying to resolve the funding issue. Meanwhile, other issues remain up in the air as attention turns to Iranian nuclear development, with the Israeli prime minister scheduled to address Congress on Tuesday, say members of Covington & Burling LLP.

  • Lawsky Speech Portends Strict NY Cybersecurity Standards

    Alexander H. Southwell

    In a Feb. 25 speech, Superintendent Benjamin Lawsky of the New York Department of Financial Services advanced his view that states can play a “catalytic” role in raising cybersecurity practices, and he appears to be seeking regulation that could require third-party vendors in sectors far from the regulatory purview of the DFS — including law firms — to effectively comply with stringent cybersecurity requirements, say attorneys with... (continued)

  • What Amazon Giveaway Means For Sweepstakes Laws

    S. Gale Dick

    Having radically reshaped publishing, retail and digital content, Amazon in February showed its intent to do the same to sweepstakes. Yet Amazon Giveaway's rules are notable in that they eschew many of the precautions taken by promoters of nationwide sweepstakes concerned with running afoul of antiquated state lottery laws, say attorneys with Cohen & Gresser LLP.