The Southern District of New York rocketed to the top of the list of most popular venues for antitrust claims in 2014, lifted by the continuing expansion of suits over benchmarks and commodities as well Keurig's controversial move to limit what kinds of pods will work with its coffee machines.
When Comcast Corp. decided to officially withdraw its $45.2 billion proposal to buy Time Warner Cable Inc. amid serious regulatory and public scrutiny, over a year of work by the companies and their attorneys seemed to go down the drain. But experts say firms can walk away from busted deals with their heads up as long as they’ve covered a few key bases.
Comcast Corp.'s $45 billion bid for Time Warner Cable Inc. on Friday became the latest deal to fall apart in the face of tough antitrust and regulatory scrutiny, underscoring the increasing importance of national markets in competition reviews, the risks of having to face off with two watchdogs at the same time and the difficulty of tackling widespread public outcry.
Amtrak on Friday urged a New York federal judge to reject insurers' bid to shrink a $1 billion dispute over losses tied to Superstorm Sandy by defining the disaster as a flood subject to a $125 million sublimit, saying almost none of the policies' definitions of flooding included storm surges.
A New York federal judge didn't toss but did trim a securities class action Friday accusing Barclays PLC and its executives of covering up, and even encouraging, aggressive high-frequency trading practices in an off-exchange “dark pool.”
The jury in the trial of a former Goldman Sachs Group Inc. programmer accused of stealing computer code for the bank’s high-frequency trading platform was unable to reach a verdict Friday, despite more than two days of deliberations, and appeared perplexed by the charges.
A company formed to create the intellectual property behind an off-exchange spread trading system has filed suit in New York state court accusing Morgan Stanley & Co. LLC. of fraud and breaching contracts in a dispute stemming from the investment firm’s alleged refusal to protect institutional investors from high-frequency traders.
Incoming U.S. Attorney General Loretta Lynch is unlikely to make radical changes to the Justice Department's focus on issues such as cyber- and financial crime, but her strong relationship-building skills could still help mend a rift between Congress and the DOJ, former colleagues say.
AMLI Management is said to have dropped $104 million on a Florida apartment complex, Anbau Enterprises is said to have paid $39 million for a New York development site, and a Leslie J. Garfield affiliate has reportedly sold a former warehouse in New York for $40 million.
Atlantic Recording Corp., Sony Music Entertainment and other record companies could win $736 million in damages in their copyright trial against Grooveshark's operators opening this week, after a New York federal judge ruled that the song-streaming service's act of copying nearly 5,000 songs was willful.
The Federal Railroad Administration has promised New York nearly $1 billion to update train lines running into Long Island and the suburbs north of New York City in an effort to prevent accidents like the one in the Bronx that killed four people in 2013, Gov. Andrew Cuomo announced Friday.
New York Attorney General Eric Schneiderman on Thursday sued two tanning companies in the state whom he accused of false advertising and misleading consumers by hiding or downplaying the potential skin cancer risks of indoor tanning.
A New York federal judge’s recent decision allowing ex-Gawker Media LLC interns to use LinkedIn and Twitter to contact potential collective action members about opting in to their wage dispute shows that courts are warming up to using social media notification programs, but attorneys crafting such plans should be careful not to trample on individual privacy rights and company reputations, experts say.
U.S. Attorney Preet Bharara said Friday that corruption in New York is a "systemic" problem in need of public discussion, comments that come in the wake of a New York federal judge scolding the prosecutor for bundling allegations of corruption against former state Assembly Speaker Sheldon Silver with a broader commentary on corruption in the state.
New York state authorities told a Manhattan federal judge on Friday that they were set to ratchet up damages claims against Federal Express Corp., likely into the multiple hundreds of millions of dollars, for allegedly helping traffickers on Native American land and elsewhere to ship cigarettes in ways that dodged hefty New York City and state taxes.
Comcast Corp. has pulled its hotly contested $45 billion proposal to acquire Time Warner Cable Inc. off the table, Comcast said Friday, due to intense regulatory and public scrutiny leading the cable giant to believe a deal was simply not in the stars.
The $45.2 billion merger of Comcast Corp. and Time Warner Cable Inc. appeared on the brink of collapse Thursday, with Comcast reportedly planning to withdraw its offer after Federal Communications Commission staff recommended a move blocking the deal.
When U.S. and U.K. authorities slammed Deutsche Bank AG with $2.5 billion in penalties and a guilty plea for one subsidiary for manipulating a slew of benchmark interest rates, they also released a treasure trove of trader chats waxing less than poetic on everything from the link between employee bonuses and favorable rate submissions to how illegal the rate-fixing was. Here, Law360 looks at a few of the choicest lines.
Manhattan prosecutors bolstered their corruption suit against former New York State Assembly Speaker Sheldon Silver, saying Thursday that he shuffled more than $4 million in allegedly ill-gotten gains from Weitz & Luxenberg PC and a real estate tax firm between investment accounts.
A New York judge has thrown out Aozora Bank Ltd.'s suit against Credit Suisse Group over losses that the Japanese lender suffered after investing in a $1.5 billion collateralized debt obligation it claims Credit Suisse used as a “trash bin” for toxic assets, saying Aozora sued too late.
The New York Court of Appeals' opinion in Alvarez v. NYLL Management Ltd. reiterates the importance of evidence of degenerative and pre-existing conditions in serious injury threshold cases when citing Insurance Law Section 5102(d), says Matthew Rosno of Hiscock & Barclay LLP.
The Second Circuit recently affirmed the government’s sweeping authority over a defendant’s assets in the face of unpaid restitution obligations. This authority includes the power to restrain assets prior to the entry of a restitution order, and — as exemplified by U.S. v. Bengis — this authority extends to assets held overseas, says Daniel W. Levy, a principal at McKool Smith PC and former federal prosecutor.
A recent Southern District of New York decision in the General Motors bankruptcy case raises important bankruptcy policy questions, including whether the outcome creates improper incentives for debtors that are subject to product liability and latent defect claims, and how the rights of creditors who are affected by lack of a claims bar date notice are to be dealt with in future cases, say Henry Jaffe and Lesley Welwarth of Pepper Hamilton LLP.
Newman is a sea change in the law when it comes to insiders who tip friends without a quid pro quo. At least in the Second Circuit, the government’s argument that a mere tip to a friend violates insider trading law is dead on arrival, says Jon Eisenberg of K&L Gates LLP.
While renting out rooms in New York through Airbnb may seem like an attractive proposition for many tenants, guests and hosts need to better inform themselves about the many potential pitfalls, legal and otherwise, says Alexander Lycoyannis Rosenberg & Estis PC.
The volume of commentary on the Omnicare opinion has pushed aside two other important and likely influenced decisions — the Second Circuit’s opinion in Roach v. T.L. Cannor Corp. addressing the breadth of Comcast Corp. v. Behrend, and New York’s Anwar v. Fairfield Greenwich Ltd., which requires readers’ attention because of the court’s discussion of the “predominance” element of Rule 23, says Fred Isquith of Wolf Haldenstein Adler ... (continued)
The Dodd-Frank Act whistleblower program has garnered much attention, but a less-noticed New York financial fraud whistleblower proposal could likewise have a significant impact, because New York regulators and enforcement agencies have been very active in bringing some of the largest investigations and enforcement actions in the financial sector, say John Wood and Michael Huneke of Hughes Hubbard & Reed LLP.
North Jersey Media Group Inc. v. Pirro and Fox News Network LLC is the latest in a recent line of fair use cases from the Second Circuit in which whether the use is “transformative” has won the day, to the point where it impacts what weight the courts give to the other three statutory fair use factors, say Michelle Lee and Erin Hickey of Fish & Richardson PC.
The U.S. Department of Justice's 2014 Indian Country Memorandum must be understood in the context of Indian law and the interplay between state, federal and tribal law on reservation lands. Depending on the legality of marijuana under state law, this interplay creates at least three different scenarios for tribes to consider, say Blaine Green and Emily Burkett of Pillsbury Winthrop Shaw Pittman LLP.
The U.S. Environmental Protection Agency's regulations on the disposal of coal combustion residuals are the first of their kind under the Resource Conservation and Recovery Act's Subtitle D enforcement structure, which grants enforcement authority to states and citizens rather than to the EPA, say attorneys at Crowell & Moring LLP.