New York

  • October 5, 2015

    Lynn Tilton, Patriarch Partners Sued Over Investor Losses

    A German bank filed a complaint Monday in Manhattan court claiming private equity magnate Lynn Tilton and her Patriarch Partners firms concealed that their investment funds were used for risky equity investments, saying it lost $45 million in the scheme.

  • October 5, 2015

    Cutoff Date Set For Collective Notice In $100M Sex-Bias Suit

    A New York federal judge has ruled that collective notice will be provided to female employees accusing Forest Laboratories Inc. of gender bias who worked for the company as a sales representative as of May 22, 2012, rejecting the plaintiffs’ argument that notice should extend 10 months earlier.

  • October 5, 2015

    Feds To Rethink Insider Trading Strategy After Newman Snub

    Now that the U.S. Supreme Court has shown no interest in taking on a landmark insider trading appeal this term, federal prosecutors have to contend with a remade legal landscape that will force them to cut back on some cases, let go of others and figure out ways around the high standards for proving the crime.

  • October 5, 2015

    Antonelli Terry Ordered To Pay $224K In Contempt Sanctions

    A New York federal judge has ordered Antonelli Terry Stout & Kraus LLP and a former managing partner to pay nearly $225,000 in sanctions for violating a December court order meant to limit how the firm allocates its funds as it appeals a nearly $8 million judgment in a malpractice case brought by Protostorm LLC.

  • October 5, 2015

    SEC Points To Menendez Decision In House Subpoena Fight

    The U.S. Securities and Exchange Commission told a New York federal judge Monday that a decision ordering U.S. Sen. Robert Menendez to face most of a criminal corruption case shows the agency can question a former House Ways and Means Committee aide in a health care insider-trading probe.

  • October 5, 2015

    Lawyers Weigh In On Supreme Court's Newman Rejection

    The U.S. Supreme Court declined on Monday to consider the U.S. Department of Justice's appeal of the Second Circuit’s landmark Newman decision on insider trading. Here, attorneys tell Law360 why the cert denial is significant.

  • October 5, 2015

    Schwab's Libor Claims Get No Supreme Court Traction

    The U.S. Supreme Court on Monday refused to consider Charles Schwab Corp.'s attempt to revive its antitrust claims in multidistrict litigation over alleged Libor manipulation by top banks.

  • October 5, 2015

    BNY Mellon Can't Dodge RMBS Suit Over Loan Docs

    A New York judge on Friday refused a bid by The Bank of New York Mellon Corp. to quash a lawsuit brought by banks, insurers and other investors against BNY Mellon as the trustee of pools of poor-performing residential mortgage-backed securities, saying dismissal would be premature.

  • October 5, 2015

    Judge Grants Time For Review Of $125M Relativity Asset Sale

    A Manhattan bankruptcy judge refused Monday to approve a newly hatched bid by Relativity Media LLC to sell its television-related assets to senior lenders for $125 million and reorganize its film and other assets under CEO Ryan Kavanaugh, but the judge indicated a willingness to do so once interested parties get a chance to read up.

  • October 5, 2015

    High Court Knocks Down Madoff Victims’ Appeal

    The U.S. Supreme Court on Monday denied a bid for review of a Second Circuit decision finding that early investors in Bernard Madoff's Ponzi scheme can’t collect inflation or interest on their losses, paving the way for a $1.2 billion payout to victims.

  • October 5, 2015

    Related Gets $126M From JPMorgan For Hudson Yards Tower

    The Related Cos. has scored roughly $125.8 million in financing from JPMorgan Chase Bank NA for the company’s rental tower project on West 30th Street in New York City, part of Related’s massive Hudson Yards project, according to public records filed in New York on Friday.

  • October 5, 2015

    EPA Must Toughen Vessel Discharge Rules, 2nd Circ. Says

    The Second Circuit ordered the U.S. Environmental Protection Agency on Monday to redo a general vessel permit that environmentalists said allowed ships traveling between different bodies of water to spread invasive species.

  • October 5, 2015

    SL Green Sells Stake In $115M NYC Building

    Real estate investment trust SL Green Realty Corp.announced Monday that it has sold a stake in a $115 million New York office building that recently signed on WeWork LLC as an anchor tenant.

  • October 5, 2015

    2nd Circ. Wary Of Do-Over In Dispute Over $57M Building

    The Second Circuit appeared hesitant Monday to reopen claims that a former co-owner of a $57 million Manhattan apartment building double-dipped during a buyout, saying that moving one lever of a trial judge's decision could require moving others and needlessly complicate a done deal.

  • October 5, 2015

    ‘Flushable’ Wipe Class Actions Stayed Pending FTC Inquiry

    A New York federal judge on Monday ordered a stay in six proposed false labeling class action accusing Procter & Gamble, Costco, CVS and others of selling “flushable” wipes that clog pipes, stating that the U.S. Federal Trade Commission is currently evaluating the meaning of the term.

  • October 5, 2015

    NY Grants License To Winklevoss-Backed Bitcoin Firm

    A bitcoin exchange founded by entrepreneur twins Cameron and Tyler Winklevoss on Monday received a license to operate as a trust company under New York law, making it the third firm to receive state approval to operate a virtual currency business.

  • October 5, 2015

    How Gemini's Internal Battle Combusted Into Ch. 11s

    In the past year, internal turmoil among the leaders of Gemini Real Estate Advisors has exploded into the courtroom. As a New York bankruptcy court readies to weigh whether four Manhattan hotel properties can be sold in Chapter 11 auctions, Law360 looks back at the strife that led to the controversial legal play and the issues that will be front and center at the hearing.

  • October 5, 2015

    Law Trio Guides REIT’s $325M Financing For NYC Tower

    New York REIT Inc. announced on Monday that it had landed a $325 million financing package for a Manhattan office tower — in a deal that was guided by a trio of law firms — as it looks to kickstart various new strategic initiatives.

  • October 5, 2015

    High Court Declines Ex-Stockbroker's FINRA Privacy Appeal

    The U.S. Supreme Court on Monday declined to hear an appeal lodged by former stockbroker Alan Santos-Buch over the Financial Industry Regulatory Authority’s refusal to expunge its public record of a 1997 disciplinary action against him.

  • October 5, 2015

    Real Estate Rumors: Twitter, Ohio STRS, Alcon

    Twitter has reportedly axed plans to expand its offices in San Francisco due to a growth slowdown, while the State Teachers Retirement System of Ohio is buzzed to have struck a $650 million refinancing on a Manhattan tower and Alcon Laboratories is said to be injecting $275 million into an Atlanta expansion.

Expert Analysis

  • Lehman Ruling Offers Much-Needed Guidance On 'Loss'

    Fred Sosnick

    A Southern District of New York decision in a Lehman Chapter 11 suit, holding that Intel Corp.’s loss calculation resulting from a failed transaction was appropriate, is significant both because of the dearth of judicial interpretation of International Swaps and Derivatives Association closeouts, and because it affirms the general understanding that a nondefaulting party has broad discretion in calculating “loss,” say attorneys wit... (continued)

  • It May Not Always Be Safe To Follow Advice Of Counsel

    Steven A. Shaw

    The recent Southern District of New York decision in United States v. Wells Fargo Bank is one of the very few addressing whether an individual civil defendant can present an advice of counsel defense using information his employer asserts to be protected by attorney-client privilege, say Steven Shaw and Luke Meier of Covington & Burling LLP.

  • Solving Sovereign Immunity Issues In Reinsurance Disputes

    Edward K. Lenci

    The issue of sovereign immunity continues to bedevil U.S. cedents and retrocedents that seek to collect from foreign reinsurers owned by foreign states and that invoke a state’s pre-answer security requirements. However the proven solution to this problem, a binding arbitration agreement, may not always be available, says Edward Lenci at Hinshaw & Culbertson LLP.

  • State AGs Vocal In New Supreme Court Term

    Joe Jacquot.jpg

    Justice Antonin Scalia often admits, “I’m a fed,” acknowledging that the U.S. Supreme Court is appointed, confirmed and vested with federal power. A critical counterbalance to that are state attorneys general, who uniquely, often singularly, come before the court to defend the interests of states. Here comes another big term for state AGs, says Joseph Jacquot, a partner with Foley & Lardner LLP and former deputy attorney general of Florida.

  • UCC And The Importance Of A Paper Clip

    Christopher A. Gorman

    Never has the margin between victory and defeat been so thin as in HSBC Bank USA v. Roumiantseva, where a paper clip — yes, a paper clip — was the determining factor in a New York state court awarding summary judgment to the defendant-borrowers in a foreclosure action. The significance of the paper clip was rooted in provisions of the Uniform Commercial Code, says Christopher Gorman of Westerman Ball Ederer Miller Zucker & Sharfstein LLP.

  • Using The Unfortunate Event Test For NY Insurance Claims

    Larry P. Schiffer

    When insurance policy language does not evince an intent to aggregate separate incidents or claims into a single accident or occurrence, New York courts turn to the unfortunate events test to determine whether claims should be aggregated, which raises interesting questions about the accident or occurrence language used by insurance companies, says Larry Schiffer at Squire Patton Boggs LLP.

  • Pope Francis And Pro Bono Publico


    Listening to Pope Francis last week as he made his way from Washington to New York to Philadelphia, one could be forgiven for imagining he was a poverty lawyer in robes. Again and again, he shone light on challenges that pro bono lawyers have wrestled with for years, including the death penalty, housing and homelessness, immigration and even climate change, say Kevin Curnin and Jennifer Colyer of the Association of Pro Bono Counsel.

  • OPINION: Paul Harvey, RIP


    After recently hearing a young trial lawyer start his opening statement with the Paul Harvey approach, I feel motivated to set out the reasons why defense lawyers should not use this technique anymore, says Dr. Ross Laguzza of R&D Strategic Solutions.

  • Disease Outbreaks May Bode Ill For Your GCL Coverage

    Michael H. Sampson

    This summer in New York there was an outbreak of Legionnaires’ disease, allegedly caused by a hotel's cooling towers, that killed 12 people and made 100 others sick. If a business is hit with third-party lawsuits over a disease outbreak, are they covered by their commercial general liability policy? ask Michael Sampson and Caitlin Garber at Reed Smith LLP.

  • And Now A Word From The Panel: MDL Of The Century


    Unfortunately for sports fans, there is no “Deflategate MDL” — although that multidistrict litigation would have been a true fantasy football proceeding and made for a great discussion. Nevertheless, there is a new sports MDL proceeding and it has nothing to do with any of the four major U.S. sports leagues, says Alan Rothman of Kaye Scholer LLP.