New York

  • March 26, 2015

    GM Execs Must Walk Tightrope In Ignition Switch Depositions

    General Motors Co. CEO Mary Barra and other high-level executives face depositions this year in the unfolding saga over deadly defects in its ignition switches, a tricky proposition particularly for chief executives who must walk a thin line between offering truthful, direct answers and protecting the company, attorneys say.

  • March 26, 2015

    Aluminum MDL Against Goldman, JPM, Others Stays Alive

    A New York federal judge on Thursday denied bids to toss multidistrict litigation accusing Goldman Sachs & Co., JPMorgan Securities PLC and others of antitrust violations for manipulating aluminum prices, ruling that plaintiffs have stated a plausible claim under the Sherman Act.

  • March 26, 2015

    Aetna Escapes Investor's Disclosure Suit

    A New York federal Judge on Thursday dismissed a lawsuit seeking multiple injunctions over Aetna Inc.’s alleged failure to fully and accurately disclose its political spending, ruling that the plaintiff didn’t adequately plead to the standards needed for injunctive relief.

  • March 26, 2015

    Real Estate Rumor Mill: Zhong An, TIAA-CREF, Jets' Johnson

    Zhong An Online Property Insurance is reportedly in talks to raise as much as $1 billion, a TIAA-CREF venture is said to have scored $190 million for work at a Third Avenue tower in New York, and Jets owner Woody Johnson has reportedly sold his Manhattan co-op for a record $77.5 million.

  • March 26, 2015

    Madoff Trustee Evades Sanctions Over Clawback Claim

    The judge presiding over the liquidation of Bernard Madoff’s defunct securities firm elected Thursday not to fine the trustee charged with recovering losses from the fraudster’s Ponzi scheme for making questionable assertions regarding a European investment advisor’s alleged complicity.

  • March 26, 2015

    Celeb Chef Wants Chipotle Suit Over Ramen Concept Revived

    British TV chef Kyle Connaughton on Thursday asked a New York appeals court to revive his suit against Chipotle Mexican Grill Inc., which he claimed duped him into a plan to steal the ideas of a prominent chef of a ramen chain, arguing he suffered damages because of lost opportunities.

  • March 26, 2015

    HSBC Sex Harassment Accuser Complains Of Denied Bonus

    HSBC Securities (USA) Inc. recently denied a bonus payment to an employee who sued the bank in August for retaliation after he complained that his boss was sexually harassing a colleague, according to a Thursday filing in New York federal court.

  • March 26, 2015

    Ex-AIG HR Director Wants 3rd Shot At Bailout Suit Fix

    A former human resources director of American International Group Inc. claiming the company lied about the value of its subsidiaries and improperly received a $25 billion federal bailout is hoping the third time's the charm and has asked a New York federal judge for permission to polish his False Claims Act allegations.

  • March 26, 2015

    2nd Circ Says Fed Court No Place For State Discipline Cases

    The Second Circuit said Thursday that a recent U.S. Supreme Court ruling does not impact a New York federal judge’s decision to send an attorney discipline case back to state court, finding that federal courts do not have jurisdiction over state-initiated disciplinary proceedings under the Younger abstention doctrine.

  • March 26, 2015

    NY Court Questions Early KO Of ACA's Suit Against Goldman

    ACA Financial Guaranty Corp. pressed New York's top court Thursday to undo a grant of dismissal to Goldman Sachs Group Inc. in the bond insurer's $120 million fraud suit over the bank's infamous Abacus subprime product, with at least three judges wondering whether questions of fact should have precluded an early knockout.

  • March 26, 2015

    Planned Times Square Hotel Scores $63M Financing

    An OTO Development affiliate has scored $63.9 million in mortgage financing from Bank of America NA for Times Square site where it plans to build a new 20-story hotel, according to city documents filed on Wednesday.

  • March 26, 2015

    Financial Data Firm Liable For Sales Tax, NY Tax Panel Says

    SunGard Securities Finance LLC has to pay nearly $400,000 in contested sales taxes on data processing services, the New York Division of Tax Appeals said in a recently released decision, ruling the company does not qualify for personal use exceptions to sales of taxable information services.

  • March 26, 2015

    Judge Upholds NY Land-Into-Trust For Oneida Nation

    A New York federal judge on Thursday tossed a suit by a nonprofit group challenging the U.S. Department of the Interior’s decision to take over 13,000 acres of land in central New York surrounding the Oneida Indian Nation of New York’s Turning Stone Resort & Casino into trust for the tribe.

  • March 26, 2015

    AmEx To Pursue Stay In Anti-Steering Antitrust Suit

    American Express Co. on Wednesday said that it will seek a stay on a potential ban on its practice of barring merchants from encouraging consumers to use other credit card brands in a suit in which a New York federal judge found the practice violates antitrust law.

  • March 26, 2015

    Petrobras Investors Strike Back With Claims Of Vast Fraud

    Several investment funds have sued Petrobras, claiming the Brazilian oil and gas company overstated its assets by concealing billions of dollars in kickbacks, bribes and inflated contracts, and caused heavy losses for New York Stock Exchange investors.

  • March 26, 2015

    Winston & Strawn Snags Pillsbury Finance Team In NY

    Winston & Strawn LLP has lured Pillsbury Winthrop Shaw Pittman LLP's finance group leader and three other financial transactions lawyers to its New York office, expanding its offerings for banks and other clients in areas such as leveraged buyouts, private equity and structured finance, the firm said.

  • March 26, 2015

    P&G Can't Stop Charmin Buyers' 'Flushable' Wipes Gripe

    A proposed class of consumers accusing The Procter & Gamble Co. of misrepresenting Charmin-brand wipes as being “flushable” can pursue an injunction against the company even though they probably won’t buy the wipes again, a New York federal judge ruled on Wednesday.

  • March 26, 2015

    Pre-Suit Missteps Free Credit Suisse From Defective Loan Spat

    A New York judge on Wednesday dismissed a suit against a Credit Suisse AG unit accused of standing behind dodgy loans, saying the loans’ trustee didn’t fulfill all the pre-suit hurdles in the unusual contract.

  • March 26, 2015

    LightSquared Wins Approval To Exit Marathon Ch. 11

    LightSquared Inc. secured a judge’s approval Thursday for a bankruptcy reorganization that lets the wireless startup repay its debts, try to revive a failed nationwide network and retain an ownership stake for Philip Falcone’s hedge fund after three years of intense confrontations with creditors.

  • March 26, 2015

    Jailed Hedge Funder Whitman Hops On Newman Bandwagon

    Imprisoned hedge fund founder Doug Whitman on Wednesday joined a growing chorus of insider trading defendants to challenge their convictions following the Second Circuit’s Newman decision, arguing that his trial was tainted by faulty jury instructions regarding stock tippers' personal benefits.

Expert Analysis

  • Can Employers Record Employee Phone Conversations?

    James M. McCabe

    Although no court has fully addressed the lawfulness of employers using voice over Internet protocol services to record all employee phone calls under federal and state laws, courts will likely apply the same framework used to examine the lawfulness of traditional telephone recordings, says James McCabe of Troutman Sanders LLP.

  • And Now A Word From The Panel: Just Say No (To MDLs)?

    Alan E. Rothman

    What will spring bring for the Judicial Panel on Multidistrict Litigation? Will it continue to close the door on new MDL proceedings? Will it decide to throw the baby out with the bathwater and decline to create a baby wipe MDL? asks Alan Rothman of Kaye Scholer LLP.

  • Lessons From The Commerzbank Settlement

    Michael Volkov

    The headlines certainly caught everyone’s attention — Commerzbank was forking over $1.4 billion to the U.S. and New York governments for violating U.S. sanctions and Bank Secrecy Act/anti-money laundering requirements. If you take the time to read the settlement papers, the picture is not pretty. In fact, you might even think Commerzbank and a number of individuals were very lucky, says Michael Volkov of The Volkov Law Group LLC.

  • This Week In Congress: Bicameral Coincidence, Vote-A-Rama

    Richard A. Hertling

    This week both chambers begin the annual congressional budget debate, a process that will set the budget rules and spending limits for the congressional appropriations committees in funding federal agencies for fiscal year 2016. And on Thursday, the Senate will begin its famed “Vote-a-rama,” say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.

  • Looking At Appraisal Rights Outside Delaware

    Daniel E. Wolf

    Even as the Delaware appraisal rights landscape continues to evolve, deal makers should avoid assuming that the issues and outcomes will be the same in transactions involving companies incorporated in other states. The relevant statutory regime, as well as the judicial fair-value exercise, may produce unexpected results, say attorneys with Kirkland & Ellis LLP.

  • 2 Years After Comcast, Little Has Changed

    Christopher Micheletti

    The U.S. Supreme Court’s March 2013 decision in Comcast was heralded by many as a class certification game-changer. But a review of circuit court decisions interpreting Comcast shows that most courts have cabined its application, say Christopher Micheletti and Patrick Clayton of Zelle Hofmann Voelbel & Mason LLP.

  • We've Got Spirit — And It's Trademarked

    Briana Emerson

    School colors are more than a way to tell if a stranger deserves a high five or heckling on game day — they, along with traditional trademarks, are part of university licensing portfolios, which brought in total royalty revenues of $209 million in 2013, say Briana Emerson and Michael Spink of Brinks Gilson & Lione.

  • OPINION: Not All That Is Public Should Be Publicized

    Adam C. Sherman

    Although court decisions are public records, that doesn’t mean they should be publicized by the courts on search engines, such as Google. Access alone isn’t the problem. The issue is that these decisions appear prominently atop search results — even when browsing parties are not looking for them. Courts have opened their doors, but they need not remove them entirely, says Adam Sherman of Vorys Sater Seymour and Pease LLP.

  • Up The Irish: St. Paddy’s Is For Celebrating Pro Bono, Too

    Kevin J. Curnin

    Just in time for St Patrick’s Day, Ireland has released the results of its first-ever survey on pro bono legal work. As befits a day that is mostly about celebrating, the results are encouraging. The results also mirror a lot of our experience in the United States regarding how and why — or why not — lawyers are contributing to the common good, says Kevin Curnin of the Association of Pro Bono Counsel.

  • Making Sense Of Apportionment In Patent Damages: Part 2

    Matthew Holohan

    It appears, for now, that in all cases involving a multicomponent product, the plaintiff must apportion value or satisfy the entire market value rule to prove that no apportionment is necessary. Given the exacting requirements of the entire market value rule, an assumption that no apportionment is necessary is incorrect, says Matthew Holohan of Kilpatrick Townsend & Stockton LLP.