CVS Caremark Corp. asked a New York federal judge on Monday to toss a False Claims Act whistleblower suit alleging CVS accepted kickbacks from Novartis Pharmaceutical Corp. to push leukemia drugs Gleevec and Tasigna and cystic fibrosis drug TOBI, calling the claims "fundamentally implausible."
Five former Buffalo Bills cheerleaders launched suit in New York court Tuesday, accusing the state's football organization and the companies involved in managing the team's cheerleading squad of denying them minimum wage, in violation of New York labor laws.
Billionaire investor Sam Wyly on Tuesday defended his use of offshore trusts that the government claims were used to pull off a $550 million fraud, but told a New York jury he regrets not demanding his subordinates disclose to U.S. securities regulators every transaction involving those trusts.
The president of a bidder for Long Island College Hospital's redevelopment has accused the State University of New York of violating a judge's order to properly vet all bidders and of willfully ignoring claims that the winner might be fudging its numbers, he told Law360 on Tuesday.
A former U.S. Securities and Exchange Commission trial attorney who was involved in the agency’s litigation around JPMorgan Chase & Co.’s London whale debacle has rejoined Akin Gump Strauss Hauer & Feld LLP as a partner in its New York office, the firm said Tuesday.
A former Bank of America Corp. official who became a U.S. government witness in its crackdown on alleged municipal contract bid-rigging escaped punishment at his sentencing hearing Tuesday in New York federal court.
A New York judge on Tuesday refused to throw out a $281 million fraud suit brought by Israeli megabank Bank Hapoalim BM brought against several Morgan Stanley & Co. Inc. units over misrepresentations about risky residential mortgage-backed securities, but trimmed two claims from the action.
Pennsylvania Middle District Judge John E. Jones III talks to Law360 about the surreal aftermath of his divisive ruling against intelligent design as he prepares for yet another potentially explosive trial over Pennsylvania's same-sex marriage ban.
A New York federal judge on Tuesday approved the U.S. Securities and Exchange Commission's "no-admit, no-deny" insider trading settlement with a former SAC Capital Advisors LP analyst, but said he still didn't know whether the deal was fair.
Google Inc. urged a New York federal court Tuesday to include attorneys in sanctions directed at a company that repeatedly alleged the search engine giant had stolen their so-called click-to-call technology, arguing that sanctions of at least $160,000 would send a message to frivolous plaintiffs.
A recent ruling that a Minnesota emissions law effectively barring electricity use from new coal-fired power plants is unconstitutional is the latest example of the dormant Commerce Clause impeding states' ability to regulate climate change, and experts say such legal skirmishes will continue until the U.S. Supreme Court sets clear, constitutional boundaries for states' climate policies.
Merchants with a claim to the $7.25 billion settlement over Visa Inc. and MasterCard Inc.'s alleged plot to fix credit card swipe fees continued their efforts to root out allegedly dicey claim-recovery services, urging a New York federal judge on Monday to ban the servicer for allegedly duping class members seeking a payout.
Two women hit Revlon Consumer Products Corp. with a class action made public Tuesday claiming fraud on the part of the beauty products giant, which touts various salves as conferring a "DNA Advantage" despite the fact that none can stimulate, interact with or otherwise affect genetic code in human skin cells.
Carlyle and TPG continue to welcome interest from eager suitors around the world vying for their jointly owned, $4 billion Australian health care provider, while flagging restaurant company Darden's shareholders are tipping toward vocal activist critics to force the company into a vote that could upend its Red Lobster spinoff plans.
BMW of North America LLC was hit with a proposed class action in New York federal court Thursday alleging a timing chain defect in its 2007-2010 Mini Cooper vehicles has cost owners thousands of dollars in engine repair and replacement costs.
Allianz Real Estate GmbH purchased a Dusseldorf luxury shopping and office property from funds of The Blackstone Group LP and shopping center operator ECE Projektmanagement GmbH & Co. KG for approximately €300 million ($414 million), Allianz announced Tuesday.
Union Central Life Insurance Co. and UBS AG on Monday said they have reached a settlement to end a dispute over junked mortgage-backed securities the Swiss bank allegedly sold to the insurer and its affiliates.
A high-stakes feud broke out last week among the National Hockey League, TIG Insurance Co. and 11 other insurers over hockey players' lawsuits concerning their long-term injuries from concussions, with insurers likely to hone in on claims that the NHL encouraged violent brawls as grounds for challenging coverage.
Danish shipping giant DSV A/S and its various business units have reached an agreement to settle an antitrust class action alleging that it participated in a conspiracy with other freight companies to fix prices on their services, according to documents filed Tuesday in New York federal court.
The Second Circuit on Tuesday affirmed a $5.1 million judgment against aviation insurer ProSight Specialty Management Co. Inc. for overbilling Japanese reinsurer Aioi Nissay Dowa Insurance Co. Ltd. following the Sept. 11 terrorist attacks and several plane crashes, finding the district court correctly interpreted the reinsurance contracts.
The State Bar of California has decided to follow New York's lead and require prospective attorneys to record 50 hours of pro bono service in order to be eligible for admission. While we applaud the intentions behind these initiatives, there are a number of reasons why state bars should limit any mandatory pro bono requirement to this context, rather than extend it to licensed attorneys as some have suggested, say attorneys with the Association of Pro Bono Counsel.
The recent New York Court of Appeals ruling in Cornell v. 360 West 51st Street Realty LLC emphasizes the difficult burden faced by plaintiffs in mold exposure personal injury cases when a Frye challenge is made relating to the foundation of the plaintiff’s expert opinion on both general and specific causation, say John Casey and Brian Casey of Hiscock & Barclay LLP.
A recent ruling in Davis v. Elliot Management Corp. (In re Lehman Brothers Holdings Inc.) steadfastly asserts that payment of creditors committee members’ professional fees must be subject to the “substantial contribution” standard, even when such payments are agreed upon by the relevant constituencies. This means that payment of indenture trustees’ legal fees could be controversial in future Chapter 11 cases in the Southern District of New York, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.
Since 1970, environmental lawyers have been immersed in a myriad of federal, state and local environmental laws and regulations, beginning with the National Environmental Policy Act. As the movement has grown, Earth Day has become a placeholder for the idea that we can better manage our environment, and in the legal community, it reminds us that we must continue advancing the law with the goal of a cleaner environment in mind, says Timothy Bergere of Montgomery McCracken Walker Rhoads LLP.
Following a pattern of decisions over the past year, the U.S. Equal Employment Opportunity Commission recently suffered another significant defeat due to its investigation process. Given the implications of the EEOC's defeat against Sterling Jewelers Inc., we anticipate the commission will appeal on matters concerning its conciliation efforts with employers, and, because of a clear circuit split, the U.S. Supreme Court may be the final arbiter on this issue, says Basil Sitaras of Day Pitney LLP.
While it must be emphasized that a policyholder’s entitlement to coverage is dependent upon the precise language of the policy at issue and the specific facts of each case, the recognition by many courts that a subpoena is a “claim” under D&O policies opens the door for potential recovery in a variety of circumstances, says Benjamin Tievsky of Orrick Herrington & Sutcliffe LLP.
In keeping with commercial real estate guarantors’ expectations of what it means to sign a “bad boy” guaranty, the Southern District of New York’s ruling in CP III Rincon Towers v. Cohen has turned the tide against recent decisions that purport to apply “plain language” in a way that causes commercially unreasonable and absurd results, say Janice Mac Avoy and Gregg Weiner of Fried Frank Harris Shriver & Jacobson LLP.
Far from being some secret Skull and Bones-like project, the American Law Institute's Principles of Liability Insurance are presently the most talked-about subject among liability insurance professionals. As for their possible significance for liability coverage issues, there wouldn’t be all this talk if there were nothing to see, says Randy Maniloff of White and Williams LLP.
Insurance should cover income loss not only when operations are completely shuttered, but also when your business is partially suspended — a distinction important to hotel owners and operators, with services more likely to operate on a reduced level after a loss. Today, some policies affirmatively state the extent of business slowdown coverage to avoid court decisions that narrowly interpret coverage extended under older policy forms, say Allen Wolff and Vianny Pichardo of Anderson Kill PC.
More courts than not have found that the government bears the burden of proving that a remote tippee knew that the tipper received some form of personal benefit, so the inevitable question is whether the government will reverse course and seek to prove that Rajarengan Rajaratnam knew that his brother Raj's tippers received a personal benefit, rather than running the risk of having a reversal of any conviction of Rajarengan, says Michele Adelman of Foley Hoag LLP.