New York

  • November 21, 2014

    Aereo's Gone, But Internet TV Is Here To Stay

    Aereo Inc. ended its three-year copyright battle with a bankruptcy filing, but the trend that the streaming startup so publicly represented — the increasing popularity of novel, Internet-based services for access to video content — isn't going anywhere.

  • November 21, 2014

    RE Rumor Mill: BofA, TIAA-CREF, Carlyle

    Bank of America Corp. is said to have reached a deal in a mortgage bond case with regulators to complete a stalled $16.7 billion settlement, while TIAA-CREF has reportedly made a $295 million apartment buy in Washington, D.C., and a Carlyle Group joint venture is said to be planning a condominium in Queens, New York.

  • November 21, 2014

    Bondholders Assert Appeal Rights In Libor Fixing Case

    Bondholders seeking to revive antitrust claims in multidistrict litigation against several major banks for allegedly rigging the London Interbank Offered Rate told the U.S. Supreme Court that a district court’s dismissal of their claims allows them the right to an immediate appeal without waiting for broader MDL litigation to conclude.

  • November 21, 2014

    Con Ed On Hook For Part Of $24M Gas Plant Cleanup Suit

    A New York federal judge ruled on Friday that Consolidated Edison Co. of New York Inc. would have to pay part of an estimated $24 million in cleanup costs associated with a polluted former manufactured gas plant, finding that half of the plaintiffs hadn’t entered agreements that would limit their claims.

  • November 21, 2014

    Ex-Jenkens & Gilchrist Bigwig's Wife Wants To Keep Cash

    The wife of Jenkens & Gilchrist PC’s former Chicago head Paul Daugerdas is fighting to keep millions that she says are hers and can't be taken by the government after her husband's conviction for a $7 billion tax fraud, telling a New York federal court Friday that the burden of proof is on the government.

  • November 21, 2014

    GM Wants To Limit Discovery In Defect Cover-Up Suit

    General Motors told a New York federal court on Friday that it only wants to submit discovery documents that are related to claims that the automaker hid key details about its defective ignition switches, and not years of employee records, in multidistrict litigation related to a massive recall earlier this year.

  • November 21, 2014

    Pandora Isn’t Guaranteed Access To BMI’s Songs, Judge Says

    A New York federal judge on Friday rejected a bid by Pandora Media Inc. to preserve its access to BMI's music catalog regardless of the outcome of a licensing fee trial, denying the Internet radio giant a "license in effect" because it would tie the hands of intervening music publishers including Sony/ATV, among other reasons.

  • November 21, 2014

    Baker McKenzie, Fried Frank Guide Hugo Boss' NY Lease

    Baker & McKenzie represented designer Hugo Boss AG in its lease, announced Friday by landlord broker CBRE Group, for nearly 74,000 square feet of space in New York, while Fried Frank Harris Shriver & Jacobson LLP counseled New Water Street Corp., the building’s landlord.

  • November 21, 2014

    Perkins Coie Snags Tech-Loving IP Pro For NY Office

    Perkins Coie LLP has hired from Fish & Richardson LLP a former United States Coast Guard engineer and co-founder of a mobile phone start up as an intellectual property partner in its New York office. 

  • November 21, 2014

    NYPD Can't Dodge Suit Seeking Muslim Surveillance Docs

    The New York City Police Department cannot dodge a suit seeking records pertaining to alleged surveillance of Muslim students in New Jersey, as a New York state judge says he is unconvinced he should adopt a common law exception to a federal public records law in his interpretation of state law.

  • November 21, 2014

    Kelso, Estancia Pick Up American Beacon From TPG, Pharos

    New York-based Kelso & Co. and Estancia Capital Management LLC agreed Thursday to buy Lighthouse Holdings, the parent company of investment advisory services group American Beacon in a deal reportedly worth upward of $600 million including debt.

  • November 21, 2014

    Apple's $450M E-Books Settlement OK'd

    A New York federal judge on Friday granted final approval to Apple Inc.’s $450 million settlement with consumers over claims it conspired with publishers to raise e-book prices, a deal that includes a $30 million award for the plaintiffs’ lawyers.

  • November 21, 2014

    Warren Tells NY Fed Chief To Fix Enforcement Or Move On

    Noted Wall Street critic Sen. Elizabeth Warren, D-Mass., on Friday urged Federal Reserve Bank of New York chief William Dudley to correct a perceived lax enforcement culture at the banking regulator, saying if he didn’t fix the problems, she would push to “get someone who will.”

  • November 21, 2014

    Ex-Longtop Exec Found Liable In Rare Class Action Trial

    A New York federal jury on Friday found a former Longtop Financial Technologies Ltd. executive liable for recklessly making misstatements about the Chinese software company’s financial health, marking a victory for investors in a rare class action trial.

  • November 21, 2014

    SoulCycle Ban On Ex-Worker's Atty Unlawful, Suit Says

    SoulCycle LLC violated New York and California anti-retaliation law when it banned an attorney and SoulCycle patron from its premises for pursuing a proposed class action accusing the indoor cycling fitness chain of stiffing instructors on wages, according to a suit filed Thursday.

  • November 21, 2014

    SEC Says It Can Pursue Wyly Widow In $261M Judgment

    The U.S. Securities and Exchange Commission urged a New York federal judge on Thursday not to drop tycoon Charles Wyly's widow as one of 16 newly named relief defendants for a currently $261 million judgment, saying it's well established that she can be named in that role despite her current bankruptcy.

  • November 21, 2014

    Rakoff Continues Crusade Against SEC Admin Courts

    District Judge Jed S. Rakoff on Friday expanded his criticism of the U.S. Securities and Exchange Commission's increasing use of administrative courts for serious enforcement matters, saying the agency's administrative law judges lack the appearance of neutrality, are susceptible to "tunnel vision" and aren't in the position to develop federal law.

  • November 21, 2014

    Aereo Files For Ch. 11 In Bid To Dodge Copyright Suits

    TV streaming service Aereo Inc., whose targeted signals were ruled by the U.S. Supreme Court in June to violate copyrights by retransmitting broadcasts without permission, filed for bankruptcy in a move CEO Chet Kanojia said Friday would allow it to avoid civil copyright litigation liability.

  • November 20, 2014

    Kenneth Cole's $279M Going-Private Deal Survives NY Appeal

    A New York appeals court on Thursday upheld the dismissal of a shareholder suit over Kenneth Cole Productions Inc.'s $279 million go-private deal, ruling that majority shareholders' actions were shielded by the business judgment rule.

  • November 20, 2014

    Detroit Ch. 9 Empowers Cities To Tackle Soaring Pensions

    The city of Detroit’s emergence from bankruptcy with significant concessions from its retirees offers renewed hope for municipalities across the country to address the accounting gimmickry used to avoid confronting huge employment-related liabilities, experts said at a panel discussion Wednesday.

Expert Analysis

  • Obama's Immigration Action Is Cause For Celebration

    Robert S. Whitehill

    Though implementation of President Obama's announced changes to U.S. immigration policy on Nov. 20 will take some time and may be slowed by legal action or accelerated by Congress enacting immigration reform, the president's executive action will give hope and relief to millions, which is cause for celebration, says Robert Whitehill of Fox Rothschild LLP.

  • Does Dodd-Frank Protect Foreign Whistleblowers?

    Matthew K. Edling

    In Liu v. Siemens, the Second Circuit upheld a ruling from the Southern District of New York, concluding that Congress did not envision the Dodd-Frank Act protecting foreign whistleblowers. Neither Liu court, however, attempted to reconcile this conclusion with the fact that Dodd-Frank governs violations of the Foreign Corrupt Practices Act — a definitively extraterritorial law, say Matthew Edling and Ben Fuchs of Cotchett Pitre & McCarthy LLP.

  • Novartis FCA Case Reaffirms Importance Of Company Policies

    Michael Loucks

    To the extent other courts adopt the New York federal court's analysis in U.S. v. Novartis Pharmaceuticals Corporation, the collateral consequence of an employee breach of internal policy or industry code of ethics and a corporate failure to appropriately sanction those employees could yield adverse consequences in the event of follow-on federal False Claims Act litigation, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Has NYC Added A 4th Test For Determining Combined Group?

    Jessica L. Kerner

    In the matter of the petition of Astoria Financial Corp. & Affiliates, an administrative law judge determined that the federal savings and loan association was not required to include a subsidiary in its combined New York City bank tax return. It appears, however, that in addition to focusing on the three statutory criteria for requiring a combined return, the city audit also raised a fourth criterion, say Jessica Kerner and Leah R... (continued)

  • Don't Be Shocked By NY's 'Surprise Bills' Law

    Jackie Selby

    New York's recently enacted Emergency Medical Services and Surprise Bills law will impact billing and reimbursement for some out-of-network health care services, require new disclosures from providers regarding their health plan participation status and add new rules for health plans regarding networks and reimbursement for out-of-network services, says Jackie Selby of Epstein Becker & Green PC.

  • Dewey Partner Clawback Ruling May Hurt New York Law Firms

    Evan C. Hollander

    Unless the recent ruling in the Dewey & LeBoeuf LLP bankruptcy case is overturned on appeal or the New York Legislature amends the state’s fraudulent transfer and partnership laws, partners of New York firms will bear greater risk if their firms fail than will members of many non-New York partnerships. This risk factor might even affect decisions by prospective lateral partners about which firms to join, say attorneys with Arnold & Porter LLP.

  • Scalia’s Deference Argument Could Have Dramatic Effects

    Matthew T. Martens

    If a litigant were to take up Justice Antonin Scalia’s invitation to raise the issue of the amount of deference owed to executive agencies’ interpretations of laws that contemplate both criminal and civil enforcement, it could mean that the U.S. Securities and Exchange Commission will face an uphill battle making and defending the rules that it is required to promulgate, say attorneys with WilmerHale.

  • Why Can’t We Be (Facebook) Friends? You Be The Judge

    Peter J. Gallagher

    Some jurisdictions prohibit judges from being social media “friends” with any lawyer who appears regularly before them, while others do not prohibit the practice unless the “friendship” also implicates one of the canons of the Code of Judicial Conduct. The latter seems to be the better approach, says Peter Gallagher of Porzio Bromberg & Newman PC.

  • FCA Case Will Likely Set Standard On ACA Overpayments

    Bill Mateja

    A New York federal court's ruling on the motion to dismiss that was just filed in the False Claims Act suit against Continuum Health Partners Inc. will most likely set forth some needed guidance as to what kind of factual scenario triggers the start date for the Affordable Care Act’s 60-day overpayment rule, say Bill Mateja and Mike Nammar of Fish & Richardson PC.

  • Martoma And Litvak: Prison Can Wait ... Sometimes

    Daniel Suleiman

    Before Wednesday's ruling, it seemed possible that former SAC Capital Advisors LP trader Matthew Martoma, who was sentenced to nine years in prison for insider trading, might remain free while the Second Circuit considers his case — last month, the same court allowed former Jefferies Group LLC trader Jesse Litvak to avoid prison. Why the different results? Not all well-argued questions are "close," says Daniel Suleiman, special cou... (continued)