New York

  • March 3, 2015

    Paul Hastings Nabs M&A Partner From Shearman & Sterling

    Paul Hastings LLP boosted its growth in mergers and acquisitions focused on intellectual property and technology by hiring a former M&A partner and co-chairman of Shearman & Sterling LLP’s intellectual property transactions practice, the firm said Monday.

  • March 3, 2015

    Ford Ruling Gives Plaintiffs Road Map To Sue Global Cos.

    A New York appellate court's unusual decision that Ford Motor Co. could potentially be held liable for asbestos-containing products distributed by its U.K. subsidiary offers plaintiffs a new way to pursue U.S.-based global companies for their overseas exposures even without evidence of any direct collusion between the American parent and its overseas unit.

  • March 3, 2015

    FEMA, Insurers Settle Wave Of Sandy Homeowner Claims

    The Federal Emergency Management Agency and insurance companies that participated in the agency's “Write Your Own” program have settled the first wave of cases alleging the insurers wrongly slashed homeowners’ Hurricane Sandy payouts, according to a filing Monday, the same day senators called for hearings into the handling of Sandy claims.

  • March 3, 2015

    Paul Weiss Rips Med. Co. Liquidator Push For Privileged Docs

    Paul Weiss Rifkind Wharton & Garrison LLP on Monday derided an attempt by a liquidator probing an alleged $355 million fraud at China Medical Technologies Inc. to obtain documents connected to the firm’s representation of the company’s audit committee, saying a bankruptcy court correctly found the material to be privileged.

  • March 3, 2015

    Patent Vet Jumps From Frommer Lawrence To Garson Segal

    New York-based intellectual property boutique Garson Segal Steinmetz Fladgate LLP said Monday it has hired a veteran IP trial attorney and Asia specialist from Frommer Lawrence & Haug LLP.

  • March 3, 2015

    NY Appeals Court Rebuffs Ex-Dorsey Atty's Bid To Slip Ban

    A New York appeals court on Tuesday gave a former Dorsey & Whitney LLP partner a retroactive five-year suspension, slated to end in April, for her conduct representing Wolters Kluwer Financial Services Inc. in a federal trade secrets dispute, rejecting her bid for immediate reinstatement.

  • March 3, 2015

    JPMorgan Tries To Harpoon 'London Whale' ERISA Suit

    JPMorgan Chase & Co. on Tuesday urged a New York federal judge to dismiss an employee class action claiming their retirement plan tanked after the $6 billion “London Whale” fiasco, arguing that disclosing the allegedly risky trading earlier would have caused the stock to fall farther.

  • March 3, 2015

    Canyon Ranch Soothes Condo Owners' Ch. 11 Complaints

    Lawyers for the Canyon Ranch condominium project backed by Lehman Brothers Holdings Inc. unveiled a settlement Tuesday of $341 million in damages claimed by condo unit holders who fought against the Miami development’s bankruptcy sale to private equity firm Z Capital Partners.

  • March 3, 2015

    Ex-BDO Seidman Partner To Pay $26M For Hedge Fund Scam

    A former BDO Seidman LLP partner and hedge fund owner who pled guilty to securities fraud agreed on Monday to pay $26 million to settle U.S. Commodity Futures Trading Commission allegations that he misappropriated at least $13 million and spent it on a bevy of luxury homes, cars and boats.

  • March 3, 2015

    Judge In $2.3B Argentina Bond Spat Mulls Citi Injunction

    A New York federal judge on Tuesday deferred a ruling on whether to block Citibank NA from making payments on some $2.3 billion worth of bonds governed by Argentine law, after an attorney for the bank lambasted the injunction as “fundamentally unfair.”

  • March 3, 2015

    Sonnenschein Sherman Reps MJ Orbach In $93M Midtown Buy

    Sonnenschein Sherman & Deutsch LLP represented MJ Orbach Associates Inc. on its $92.5 million purchase of an office and retail building in New York’s Flatiron district from the Kaufman Organization, according to public records filed Tuesday in New York.

  • March 3, 2015

    Insurer Says Property In Pot Farm Case Was 'Entrusted'

    United Specialty Insurance Co. told a New York federal court Monday that a criminal activity policy exclusion bars coverage for a realty company's property damage claim stemming from a tenant's alleged marijuana growing operation, arguing that the realty company wrongly claims it didn't "entrust" the property to the tenant.

  • March 3, 2015

    Wu-Tang Rapper's Producer Denies Ripping Off Boombox Pics

    The former general manager of Soul Temple, a failed record label with ties to Wu-Tang Clan rappers RZA and U-God, told a Manhattan civil jury Tuesday he had no idea he was using a copyrighted image of an iconic boombox when it was picked for the cover of U-God's ill-fated 2013 album "The Keynote Speaker."

  • March 3, 2015

    2nd Circ. Agrees To Speed Actavis Product-Hopping Hearing

    The Second Circuit agreed Monday to hear Actavis PLC's appeal of an injunction forcing the company to continue making an older version of dementia treatment Namenda as soon as possible and proposed April for the drugmaker's showdown with New York's attorney general.

  • March 3, 2015

    Rakoff Hopes SEC Will 'Think Twice' About Using Admin Court

    U.S. District Judge Jed S. Rakoff said on Monday he hopes the U.S. Securities and Exchange Commission will “think twice” about continuing to use its administrative courts for complex enforcement matters, a trend he said could lead to “awkward” and “troubling” results. 

  • March 3, 2015

    Blank Rome Can't Kick Morgan Stanley Exec's Ex-Wife's Suit

    A New York appeals court on Tuesday rejected Blank Rome LLP’s bid to trim claims from a multimillion-dollar malpractice suit over its simultaneous representation of a former client during her divorce and her husband's employer, Morgan Stanley, finding a conflict was adequately alleged.

  • March 3, 2015

    GM Seeks Dismissal Of 303 Plaintiffs In Ignition Switch MDL

    General Motors LLC on Monday sought the dismissal of 303 plaintiffs whose lawsuits are encompassed in multidistrict litigation over defective ignition switches, telling a New York federal judge they hadn't yet complied with discovery requirements.

  • March 3, 2015

    Chinese Investors Looking For A Place Outside Of Manhattan

    While Manhattan remains a top target for Chinese investors looking for U.S. property deals, rising prices, competition and the allure of better yields elsewhere have started to prompt the growing pool of foreign investors to look outside the Big Apple, according to experts.

  • March 3, 2015

    Suntech Reaches Ch. 15 Antitrust Deal With Solyndra Trust

    Suntech Power Holdings Co. Ltd.'s foreign liquidators have struck a tentative settlement with the litigation vehicle left behind by defunct Solyndra LLC in a California price-fixing lawsuit alleging Suntech colluded with other Chinese solar panel producers to squeeze out U.S. rivals.

  • March 3, 2015

    Real Estate Rumor Mill: AFIAA, Star Wars, Related Cos.

    Swiss pension fund manager AFIAA reportedly paid $104 million for a D.C. office and retail property, a California group is attempting to lure George Lucas' $700 million Star Wars Museum from Chicago to the Bay Area, and Related Cos.' CEO is said to be the buyer in a record-pushing $51 million Manhattan townhouse deal.

Expert Analysis

  • 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 mandatory inclusionary housing 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.

  • 2nd Circ. Seems Skeptical Of DOL Intern Test

    Robert S. Whitman

    While it is premature to draw conclusions from oral argument in Glatt v. Fox Searchlight Pictures Inc. and Xuedan Wang v. Hearst Corp., the Second Circuit hinted that the U.S. Department of Labor's six-factor test for internship status is overly rigid and focused on the utility of an alternate test to determine whether an internship primarily benefits the intern or the employer, say Robert Whitman and Adam Smiley of Seyfarth Shaw LLP.