The trustee for Bernie Madoff's investment outfit launched a full-court press Monday on an issue that threatens over $800 million worth of his clawback suits, telling a New York bankruptcy court he is authorized to reach overseas to take back profits from Credit Suisse AG, Societe Generale SA and others.
Plaintiffs targeting General Motors Co. in the New York federal multidistrict litigation over its ignition switch defect lashed out against the automaker Friday, arguing that its motion for a protective order on pre-trial discovery is part of its strategy to 'spin' the media after its recall scandal.
The National Football League Ventures LP has issued $620 million in senior notes, guaranteed by the NFL, to raise funds for its teams’ various stadium projects, statistical ratings organization Fitch Ratings said Friday.
FAO Schwarz is close to reaching a deal to lease 40,000 square feet on Broadway, while Ares and Aimbridge Hospitality are said to have sold a Chicago-area hotel for $19 million and NRG Energy has reportedly signed for more than 51,000 square feet of space in San Francisco.
An unethical relationship between a former MasterCard Inc. lawyer and a plaintiffs attorney that resulted in their sharing confidential information irrevocably tainted multibillion-dollar swipe fee settlements with MasterCard, Visa Inc. and American Express Co., an attorney representing major retailers told a New York federal court Monday.
The New York State Department of Environmental Conservation released its findings on the environmental impacts of hydraulic fracturing Monday, outlining the state’s reasons for outlawing the controversial drilling technique.
Antonelli Terry Stout & Kraus LLP lodged an appeal with the Second Circuit on Monday less than a month after a New York federal judge refused to kill an $8 million malpractice award against the law firm in a suit brought by Protostorm LLC over botched online ad patents.
Pandora Media Inc. has officially played its long-expected hand in a royalty battle with Broadcast Music Inc., pointing a New York federal judge to its recently closed purchase of a South Dakota FM radio station that the company claims should slash the rate.
New York Attorney General Eric Schneiderman announced Monday that his office has reached a $2.5 million settlement with a pharmacy primarily owned by Walgreen Co. over claims it had submitted false Medicaid billing statements for drugs prescribed primarily to hemophilia patients.
A New York bankruptcy judge approved a settlement Monday that will see Lehman Brothers Inc. pay Barclays Capital Inc. nearly $1.3 billion to resolve a dispute over the sale of the collapsed investment bank's brokerage business, saying it will benefit Lehman creditors.
The Second Circuit on Monday found that British investment manager CarVal UK Ltd. does not have customer status under the Securities Investor Protection Act to pursue $44 million in repurchase transaction claims from Lehman Brothers Inc., saying that the agreements did not create a fiduciary relationship.
Mitchell Silberberg & Knupp LLP, a firm specializing in entertainment litigation, has merged with Richardson Patel LLP, a boutique firm focusing on securities matters, forming a combined company with 130 attorneys, the firms announced on Monday.
The Second Circuit on Monday backed a lower court's decision to toss a Fair Labor Standards Act class action brought against the U.S. Tennis Association by U.S. Open umpires, saying the lower court correctly found the umpires are independent contractors.
The Second Circuit on Monday ruled that a movie director can't own a separate copyright on his contribution to a film, expressly endorsing the Ninth Circuit's high-profile ruling last month in Garcia v. Google in the process.
The U.S. Supreme Court on Monday agreed to hear the case of a man who said it should settle differences between the nation’s appellate courts over whether a state-level charge of attempted arson constitutes an aggravated felony under the Immigration Nationality Act.
Hedge fund manager Gerti Muho told a Florida federal court Friday that a New York bankruptcy court’s stay does not bar his suit accusing Jones Day partner and Fletcher Asset Management trustee Corrine Ball of aiding a conspiracy to take control of his assets, saying the Chapter 11 case itself is illegal.
With the U.S. Supreme Court closing the curtain Monday on a term that brought landmark decisions on same-sex marriage, health insurance subsidies and lethal injections, court watchers focused on corporate transactions and capital markets are feeling a little left out. Here, experts tell Law360 what has kept the justices away from business cases and the issues they'd like to see taken up in the future.
The Second Circuit on Monday decided to revisit a year-old ruling in which it overturned an accountant’s tax evasion conviction on Fourth Amendment grounds, saying a full panel of its judges should weigh whether the government had illegally searched the defendant’s personal computer files.
Federal prosecutors on Monday said that they had gone “above and beyond” their legal requirements to provide documents to a former Wells Fargo & Co. vice president in an increasingly heated discovery battle related to a government mortgage fraud suit against the bank.
Sheppard Mullin Richter & Hampton LLP has boosted its bench of health care regulatory experts with the former head of Garfunkel Wild PC’s compliance and white collar defense practice.
The Second Circuit's decision to allow negative guest satisfaction surveys to be used as a basis for termination in HLT Existing Franchise Holding LLC v. Worcester Hospitality Group, makes it easier for franchisers to terminate franchise agreements and still comply with the statutory and common law requirements for good cause or good faith and fair dealing, says Eugene Podesta at Baker Donelson LLP.
Whether on competition in the solar energy market, oversight of professional occupations or the safety of electronic payment systems, businesses should proactively engage with state attorneys general as they fulfill their consumer protection role, says Foley & Lardner LLP's Joseph Jacquot, a former Florida deputy attorney general and chief of staff of the attorney general’s office.
The Second Circuit's recent decision in Madden v. Midland Funding LLC calls into question the enforceability of bank- and thrift-originated loans that have subsequently been assigned to nonbank entities such as hedge funds, securitization vehicles, whole-loan purchasers and other investors, say Scott Cammarn and Nathan Bull of Cadwalader Wickersham & Taft LLP.
In legal marketing circles, there are few topics peddled about more than “hot tips” for improving your law firm’s website. Google it. You’ll find more advice than you could ever digest. However, there are larger trends in technology, culture and user behavior that are impacting firms in very significant ways and are not being talked about nearly as much as they should be, says Stephan Roussan, founder of consulting and web developm... (continued)
In Lido Beach Towers v. Denis A. Miller Agency Inc. the New York state appeals court affirmed a lower court’s order dismissing all claims of negligence, breach of contract and cross-claims against the individual insurance broker, demonstrating that under certain circumstances an argument based on agency principles may relieve a broker from personal liability for the alleged acts of his principal, says Sara Ward Mazzolla at Bressler... (continued)
Every so often counties decide to legislate on matters involving consumer product safety and a trend like the recent one in New York begins. Unfortunately, these laws introduced and considered by localities tend to be more about politics and headlines than safety and have little effect on actually improving the safety of children’s products, says Matthew Cohen of Mintz Levin Cohn Ferris Glovsky and Popeo PC.
For players in many consumer goods sectors, the contact lens wars currently pending in Utah may be a test case for the new vertical pricing regime in antitrust, and the stakes are higher than some imagined, says August Horvath of Kelley Drye & Warren LLP.
The New York City Sanitation Department is considering whether to require restaurants, hotels and other food-related businesses to participate in a mandatory composting program. If the law is enacted industrywide, it will, in addition to the beneficial environmental effects, have the potential to negatively impact the bottom line of thousands of small businesses, says Robert Ontell of Michelman & Robinson LLP.
While the Obama administration's Clean Power Plan may have survived its first legal challenge in Murray Energy Corp. v. U.S. Environmental Protection Agency before the D.C. Circuit, because the victory hinged on procedural grounds and the presiding judges were Bush-era appointees, the only certainty going forward is that the plan will continue to face both legal and legislative attacks, says Jennelle Arthur of Jackson Kelly PLLC.
The recent decision in ACE Securities Corp. v. DB Structured Products Inc. reinforces New York’s commitment to promoting certainty and finality in contractual matters by strictly applying the statute of limitations. A contrary ruling would have exposed residential mortgage-backed security defendants to nearly open-ended liability, say Robert Fumerton and Alexander Drylewski of Skadden Arps Slate Meagher & Flom LLP.