New York

  • April 24, 2015

    NY Southern District Becomes Antitrust Hotspot

    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.

  • April 24, 2015

    3 Ways Firms Can Weather A Massive Deal Collapse

    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.

  • April 24, 2015

    3 Takeaways From Comcast's Failed Bid For TWC

    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.

  • April 24, 2015

    Sandy Was No Flood, Amtrak Says In $1B Insurance Suit

    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.

  • April 24, 2015

    Class Action Over Barclays 'Dark Pool' Moves Forward

    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.”

  • April 24, 2015

    Jury In Goldman IP Trial Mired In Confusion Over Obscure Law

    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.

  • April 24, 2015

    Morgan Stanley Wanted A Dark Pool 'Feast,' Suit Says

    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.

  • April 24, 2015

    Lynch’s Skills Could Help Mend DOJ Rift With Lawmakers

    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.

  • April 24, 2015

    Real Estate Rumor Mill: AMLI, Anbau, Leslie J. Garfied

    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.

  • April 24, 2015

    Record Cos. Could Win $736M In Grooveshark IP Trial

    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.

  • April 24, 2015

    Feds Pump $1B Into New Metro-North, LIRR Braking System

    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.

  • April 24, 2015

    Indoor Tanning Salons Hiding Cancer Risks, NY AG Says

    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.

  • April 24, 2015

    Social Media Class Notices Gain Traction But Carry Risks

    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.

  • April 24, 2015

    Bharara Blasts 'Systemic' Corruption In NY

    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.

  • April 24, 2015

    NY To Ratchet Up Damages In FedEx Bootleg Cig Case

    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.

  • April 24, 2015

    Comcast Scraps $45B Time Warner Tie-Up Amid Scrutiny

    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.

  • April 23, 2015

    $45B Comcast, TWC Merger Doomed After FCC Balks

    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.

  • April 23, 2015

    7 Sauciest Lines From Deutsche Bank's Libor Traders

    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.

  • April 23, 2015

    US Atty Details Alleged Bribes In New Silver Indictment

    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.

  • April 23, 2015

    Credit Suisse Beats Lender's Fraud Suit Over $1.5B CDO

    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.

Expert Analysis

  • NY High Court Emphasizes Evidence In Serious Injury Cases

    Matthew J. Rosno

    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.

  • Court Has Broad Authority Over Assets To Satisfy Restitution

    Daniel W. Levy

    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.

  • New GM Is Free And Clear, But The Battle Will Rage On

    Lesley S. Welwarth

    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.

  • Trading Inside Information With 'Friends' Post-Newman

    Jon Eisenberg

    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.

  • Airbnb: Boon Or Bane For NYC Residential Real Estate?

    Alexander Lycoyannis

    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.

  • Spring Begins With 3 Important Class Action Decisions

    Fred T. Isquith

    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)

  • NY Financial Compliance Landscape May Get Treacherous

    Michael H. Huneke

    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.

  • The Changing Landscape Of Fair Use: 'Transformative' Is Key

    Michelle Lee

    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.

  • 3 Different Scenarios For Marijuana In Indian Country

    Blaine I. Green

    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.

  • 10 Topics For Corporate Counsel To Consider On Coal Ash

    Kirsten L. Nathanson

    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.