Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and seven other large banks have rigged the market for interest-rate swaps by blocking companies from launching public exchanges of the derivatives, according to a proposed class action filed in New York Wednesday.
A New York federal judge on Tuesday granted fashion brands Cartier International AG, Alfred Dunhill Ltd., Chloe SAS and others a $64 million default judgment after finding the sole remaining defendant in the case liable for infringing their trademarks and permanently barred the John Doe from continuing to do so.
The U.S. House of Representatives Ways and Means Committee and a former staffer on Wednesday told a New York federal judge they shouldn't have to respond to a U.S. Securities and Exchange Commission subpoena request in a health care insider-trading probe before appealing its imposition.
A New York federal court ruled Wednesday that communications between General Motors and its outside counsel King & Spalding over ignition switch-related settlements are privileged documents, in a significant decision that attorneys say shows that plaintiffs cannot invoke the crime fraud exception unless they show that a defendant's attorneys actually participated in the alleged fraud.
An ex-Faruqi & Faruqi LLP partner who testified in a recent sex assault case against the firm launched a New York federal suit Wednesday, saying Faruqi didn’t pay her for work in shareholders’ litigation challenging Leucadia National Corp.'s $3 billion deal for Jefferies Group Inc.
Business services provider Sutherland Global Services urged a New York federal court Tuesday to compel Adam Technologies to produce information about the whereabouts of its assets so that Sutherland can retrieve an arbitration award affirmed by the court last year.
Pacific Investment Management Co. and other investors on Tuesday filed the latest suit accusing Citibank NA of ignoring widespread problems with toxic residential mortgage-backed securities, claiming $2.3 billion in losses in a proposed class action in New York state court.
A juror in the trial of former New York State Assembly Speaker Sheldon Silver raised eyebrows when she asked to be excused just two hours into deliberations, citing discomfort and stress. But it certainly wasn't the first time that discussions in the jury room became dramatic. Here, Law360 looks at four times the actions of jurors threatened to overshadow trials.
The Federal Trade Commission on Wednesday cleared NXP Semiconductors NV’s $11.8 billion takeover of private equity-backed Freescale Semiconductor Ltd. on the condition that NXP unload its so-called radio frequency power amplifier assets to assuage the commission's competition concerns.
The International Council for Commercial Arbitration tapped the co-head of Debevoise & Plimpton LLP’s international disputes group as its next president, the firm announced Tuesday.
A New York federal judge on Tuesday declined to vacate a ruling that Nasdaq’s immunity as a self-regulatory organization didn’t protect it from claims related to its botched handling of Facebook’s initial public offering, finding the decision should stand despite a recent settlement.
A former Fried Frank Harris Shriver & Jacobson LLP tax partner who advises private equity funds and has worked on real estate transactions for some of New York City's most notable properties, including the iconic MetLife Building, has joined Gibson Dunn's New York offfice.
British Airways PLC on Wednesday asked a New York federal judge to sanction a proposed class of passengers accusing the airline of violating its frequent-flier program contract by imposing impermissible fuel surcharges on rewards flights, blasting the passengers’ “brazen” attempt to "sandbag" it on expert testimony.
A Second Circuit panel on Wednesday affirmed a 121-month prison sentence handed down to a New York broker-dealer who pled guilty in 2011 to running a Ponzi scheme to finance his real estate investments, saying the district court was right to count spouses as separate victims.
A former race car driver convicted in connection with a scheme that took millions of dollars from Long Island businessmen and professional athletes asked a New York federal judge on Monday for a judgment of acquittal and a new trial, citing insufficient evidence and jury confusion.
The Second Circuit on Wednesday asked the Delaware Supreme Court for help in determining whether a group of investors can directly sue Citigroup Inc. over an alleged $800 million loss related to the bank’s residential mortgage-backed securities, rather than in a derivative suit.
A Manhattan trial judge held off Wednesday on New York State Attorney General Eric Schneiderman's bid to have daily fantasy sports giants DraftKings and FanDuel shut down pending the outcome of state lawsuits charging they promote illegal gambling, but said a decision would come "very soon."
Evanston Insurance Co. told a New York federal judge on Tuesday that a recent Second Circuit ruling negates a Universal Photonics Inc. unit’s victory he granted in a dispute over defense costs for an injured employee’s suit, and urged the judge reconsider his decision.
Attorneys for a slew of merchants told the Second Circuit Tuesday that a $7.25 billion settlement reached with Visa and MasterCard over interchange fees has "critical infirmities," saying the deal provides “limited and temporary” relief to the class but gives an “all-encompassing and perpetual” release to the defendants.
Golenbock Eiseman Assor Bell & Peskoe LLP has reportedly leased 38,000 square feet in New York from REIT SL Green, Stonehenge Partners is said to be dropping $135 million on an Upper West Side rental property, and a Miami-area Marriott has reportedly sold for $16 million.
Several developments over the past few months caught the eye of Jim Maiwurm, chairman emeritus of Squire Patton Boggs. Try as he might, he could not resist the temptation to comment on a few — such as the expansion of the Dentons “polycentric” empire, a confused verein controversy, and provocative suggestions that the law firm partnership model is a dinosaur.
Fairly read, the Second Circuit opinion in Madden v. Midland Funding does not overturn centuries of case law on the so-called "valid when made" doctrine. As plaintiffs have already begun to introduce Madden-related arguments in their filings, it is critical that the financial services industry proactively clarify the limited scope of Madden, say Michael Tomkies and Susan Manship Seaman of Dreher Tomkies LLP.
Just a few weeks ago, the Obama administration said it would not seek statutory authority to compel tech companies to provide the keys to encrypted communications. But following the Paris attacks the issue is again front and center. Judicially, the debate also continues as a federal magistrate judge in New York weighs a government request for Apple Inc. to unlock an iPhone. Nixon Peabody partner Susan Feibus recaps the debate.
The amendments to the Federal Rules of Civil Procedure scheduled to take effect Dec. 1 are designed to usher in a new era in the U.S. litigation system, this time acknowledging that what was once known as “e-discovery” is now just discovery. The amendments are sweeping in scope, but none is more important than the revised Rule 37(e), say Gregory Leighton and Eric Choi of Neal Gerber & Eisenberg LLP.
In her Ehrbar v. Forest Hills Hospital ruling, Eastern District of New York Judge Margo Brodie deconstructs a motion for summary judgment dismissal of a disparate treatment age discrimination claim, and in doing so, provides both plaintiff and defense lawyers with a useful compendium of arguments, defenses, and the current state of age discrimination case law in the Second Circuit, say attorneys with Garfunkel Wild PC.
U.S. Customs and Border Protection announced in November plans to expand to citizens of the United Kingdom the benefits of the Global Entry program, which permits expedited processing through CBP upon arrival to the United States. Effective Dec. 3, 2015, the expansion represents the latest step in allowing U.S. immigration and security officials to focus on higher-risk travelers, say attorneys with Mayer Brown LLP.
In distinguishing between materials prepared by tax professionals in the ordinary course of regulatory compliance and tax analysis tailored toward a specifically anticipated legal challenge — such as IRS scrutiny over a restructuring — the Second Circuit in Schaeffler v. U.S. added clarity about the work-product doctrine’s protection, say attorneys with WilmerHale.
The outcome of a dispute over primary policy exhaustion turns on some combination of policy language and public policy concerns, but the relative weight given to each of these factors seems to vary between states and jurisdictions, or even within a single jurisdiction, based on court interpretations of the influential Zeig v. Massachusetts Bonding & Insurance decision, says Simone Bonnet at Sidley Austin LLP.
Given recent changes to New York City traffic law as part of Mayor Bill de Blasio's “Vision Zero” plan to reduce the number of serious motor vehicle accidents, insurance carriers may wish to have defense counsel present for New York State Department of Motor Vehicles fatal accident hearings, say David Rosenthal and Gregory Katz of Lewis Brisbois Bisgaard & Smith LLP.
A growing number of attorneys and firms are eschewing tradition by embracing technology to change not only the way we work, but also the way we organize our offices, says Anthony Johnson, founder and CEO of American Injury Attorney Group.