New York

  • August 29, 2014

    Order On Microsoft Customer Emails Warrant Back In Play

    A New York federal judge lifted a stay on an order that Microsoft Corp. produce customer emails stored on a company server located overseas, ruling Friday that the order, which stems from a narcotics trafficking probe, wasn't final and therefore wasn't subject to appellate review.

  • August 29, 2014

    Madoff Trustee Seeks Repleadings In Bankruptcy Suits

    The bankruptcy trustee for Bernard Madoff’s investment fund asked a New York bankruptcy judge on Thursday for time to replead cases against Credit Suisse Group AG and others in light of new standards handed down from the district court.

  • August 29, 2014

    Goldman, JPMorgan, Others Dodge Aluminum Warehouse MDL

    A New York federal judge on Friday freed Goldman Sachs Group Inc., JPMorgan Chase & Co. and others from multidistrict litigation alleging they conspired to manipulate the supply of aluminum to inflate its value, ruling that the plaintiffs lack antitrust standing and haven't sufficiently pled the existence of a conspiracy.

  • August 29, 2014

    $42M Payday For NYC School Bus Drivers Ripe For Challenge

    A move by New York City leaders to mitigate pay cuts imposed on school bus drivers under less labor-friendly contracting rules by granting them $42 million is rankling spending watchdogs as well as contractors who won't accept the payout quietly, experts say.

  • August 29, 2014

    AIG Needn't Cover QBE Defense In Kickback Case, Court Says

    A New York state court judge has ruled American International Group Inc. doesn’t have to pay defense costs for individual and proposed class action suits brought by mortgage borrowers who claim QBE Holdings Inc. paid improper kickbacks to banks — but Darwin Select Insurance Co. does — because AIG’s policy lacks a duty-to-defend provision.

  • August 29, 2014

    GFI Shareholder Suit Says CME Takeover Undervalues Co.

    Brokerage and trade services provider GFI Group Inc. and futures exchange operator CME Group Inc. were hit with a proposed shareholder class action in a New York court Friday to block CME’s $580 million takeover of GFI, alleging the deal undervalues the company.

  • August 29, 2014

    Ex-Countrywide Exec Defends Fannie-Freddie Loans' 'Quality'

    Former Countrywide Financial executive Rebecca Mairone asked a New York federal court Friday to overturn a jury's decision that she helped defraud Fannie Mae and Freddie Mac, saying the finding that she helped the Bank of America Corp. unit to scam the government relied on a distortion of the term “quality” as it applied to the loans.

  • August 29, 2014

    Revolving-Door Roundup: DLA Piper, Akin Gump, Covington

    August saw a number of big names move back and forth between the government and BigLaw, and no firm played a bigger role in that movement than DLA Piper. Of the nine attorneys who crossed the public-private divide, three of them now call DLA Piper home.

  • August 29, 2014

    Banks Say Forex Plaintiffs Have No Proof Of Antitrust Plot

    JPMorgan Chase & Co., Bank of America Corp. and other large banks targeted in the foreign exchange antitrust litigation told a New York federal court on Thursday that the plaintiffs still have not alleged that the banks have manipulated the market.

  • August 29, 2014

    Meal Delivery Cos. Not Liable For Sales Tax On Fees, NY Says

    Online food ordering companies don't count as food vendors and don't have to pay sales tax on their service fees on individual orders, according to an advisory opinion recently issued by the New York State Department of Taxation and Finance.

  • August 29, 2014

    RE Rumor Mill: Squarespace, Blackstone, Silverstein

    Squarespace has reportedly agreed to take 100,000 square feet at 225 Varick St., The Blackstone Group LP is poised to take a stake in a special economic zone development in India for 10 billion Indian rupees ($165 million) and Larry Silverstein's newest development will have its own "poor door."

  • August 29, 2014

    The 5 Most Fearsome EEOC Regional Offices

    Employers should beware of aggressive U.S. Equal Employment Opportunity Commission regional offices that are leading the agency's efforts to limit the use of criminal background checks, eradicate pregnancy discrimination and tackle other issues, attorneys say. Here's a look at five EEOC district offices on the leading edge of enforcement efforts.

  • August 29, 2014

    PE Fund Slams Removal Bid By Limited Partners In Fee Row

    Real estate secondary investing private equity fund Liquid Realty Partners has sued a group of its limited partners, saying that efforts by investors to remove it from its role as general partner to a set of funds is nothing more than an unjust effort to avoid paying $26.5 million in service fees.

  • August 29, 2014

    ICMA Revises Sovereign Bonds To Avoid Another Argentina

    The International Capital Market Association on Friday issued revised guidelines for sovereign debt securities in order to avoid a repeat of Argentina’s long-running fight with holdout creditors, which led to the country’s second default in 13 years.

  • August 29, 2014

    Dealmakers Q&A: WilmerHale’s Brian Johnson

    We are seeing an uptick in renewed venture investing in earlier-stage and new life sciences and biotechnology companies. These new companies could form the basis for the next crop of initial public offerings in future years, says Brian Johnson, co-chairman of Wilmer Cutler Pickering Hale and Dorr LLP’s capital markets group.

  • August 28, 2014

    Ford, IBM Win Dismissal Of Apartheid Abuse Suits

    Ford Motor Co. and IBM Corp. won dismissal Thursday of long-running suits alleging they aided and abetted apartheid-era South Africa by selling its government military vehicles and computers, with a New York federal judge ruling that they can't be sued in the U.S. over actions by their subsidiaries abroad.

  • August 28, 2014

    BofA Wants Verdict Scrapped In $1.3B Mortgage Fraud Case

    Bank of America Corp. urged a New York federal judge on Thursday to toss a jury’s verdict finding that the bank’s Countrywide Financial unit defrauded Fannie Mae and Freddie Mac with faulty mortgages — for which BofA was fined $1.3 billion — or grant a new trial, calling the verdict "unreasonable."

  • August 28, 2014

    Ex-Israel Official Says Arab Bank Was Lender For Hamas Heads

    A former Israeli military intelligence officer on Thursday told a federal jury in New York that Arab Bank PLC did business with top officials of the Palestinian Islamist group Hamas, including its co-founder and spiritual leader, who was a designated terrorist at the time.

  • August 28, 2014

    Ampal-American Trustee Demands $39M From Ex-Brass

    The Chapter 7 trustee winding down energy investment holding company Ampal-American Israel Corp. lobbed a lawsuit on Wednesday demanding a combined $39 million from former executives who allegedly swung imprudent consulting and loan payments to the Ampal CEO’s Israeli firm.

  • August 28, 2014

    Prestige Must Shed Bonine To Win FTC Nod On $750M Deal

    The Federal Trade Commission will require pharmaceutical company Prestige Brands Holdings Inc. to divest assets connected with the motion sickness drug Bonine to resolve competition concerns over its proposed $750 million acquisition of Insight Pharmaceuticals LLC, the agency said Thursday.

Expert Analysis

  • NY Joins Texas In The Broad Use Of Appraisal

    Steven J. Badger

    New York's scope of appraisal after a recent change in state insurance law appears to support an appraisal process even broader than Texas' after that state's high court decided State Farm Lloyds v. Johnson, says Steven Badger of Zelle Hofmann Voelbel & Mason LLP.

  • 2nd Circ. Has Made Morrison Standard Even More Arbitrary

    J. Robert Brown Jr.

    The Second Circuit was appropriately concerned with the implications of the Section 10(b) test set forth by the U.S. Supreme Court in Morrison v. National Australia Bank. But in ParkCentral Global Hub Ltd. v. Porsche Automobile Holdings, the court developed a test only used to deny the availability of Rule 10b-5, says J. Robert Brown Jr. of Sturm College of Law at the University of Denver.

  • The 8 Gotchas Of Technology Contracting: Part 2

     Craig Auge

    Contracts for providing and obtaining technology establish important, often long-term relationships. When they involve mission-critical products and services, the impact of a flawed contract can be devastating, says Craig Auge of Vorys Sater Seymour and Pease LLP.

  • The 8 Gotchas Of Technology Contracting: Part 1

    Craig Auge

    Every business runs at least in part on technology — and, when contracting for technology products and services, the “gotchas” don’t discriminate based on size or industry. All parties can benefit from avoiding these situations, says Craig Auge of Vorys Sater Seymour and Pease LLP.

  • Some Calm For NY Claims Handlers Over Late Disclaimers

    William E. Murray

    The impact of a threatened expansion of the late disclaimer standard prior to the New York Court of Appeals' ruling in KeySpan Gas East Corp. v. Munich Reinsurance American Inc. would have been heavy for the insurance industry in that it would have created a significant burden on claims handlers, say William Murray and Joseph Geoghegan of Gordon Rees Scully Mansukhani LLP.

  • Inside 2nd Circ. Ruling On Overseas Whistleblower

    Mary Beth Hogan

    For companies with global operations, the Second Circuit's recent decision in Liu v. Siemens AG should provide at least some level of comfort that allegations by foreign employees regarding conduct exclusively outside the United States are outside the reach of Dodd-Frank’s anti-retaliation provision, say attorneys with Debevoise & Plimpton LLP.

  • Plain Prosecution Bar May Not Cover Inter Partes Reviews

    Bruce Wexler

    In Endo Pharmaceuticals Inc. v. Amneal Pharms Inc., a New York federal court recently rejected an attempt by generic defendants to prevent litigation counsel for the innovator company from participating in related inter partes review proceedings, absent explicit language in a protective order. This issue will continue to arise unless care is exercised in negotiating protective orders, say Bruce Wexler and Jason Christiansen of Paul Hastings LLP.

  • NY Court Cuts Back On Runner Doctrine

    David M. Cost

    While New York plaintiff attorneys will likely continue to fit cases where a plaintiff does not fall or no object falls on him under Labor Law Section 240(1), Diaz v. Globalfoundries U.S. Inc. may serve as a basis to move for summary judgment in the event the evidence shows that an object neither fell nor was on a descent when injury occurred, says David Cost of Hiscock & Barclay LLP.

  • Picard Powerless To Block Independent Madoff Settlements

    Jonathan Sablone

    The Second Circuit ruling that Bernard L. Madoff bankruptcy trustee Irving Picard may not block two large settlements involving Madoff feeder funds is welcome news for institutions that invested in “intermediate” funds that are still solvent. Commentators, however, fully expect that Picard will continue to appeal adverse decisions, including this most recent ruling, say Jonathan Sablone and Danielle McLaughlin of Nixon Peabody LLP.

  • Inside New York's Proposed Virtual Currency Regulation

    Marcus A. Asner

    New York’s proposed virtual currency rules intended to prevent money laundering and bolster cybersecurity have been met with mixed reactions and will likely trigger a lot of discussion about issues such as rooting out illegal activity without stifling innovation, say attorneys with Arnold & Porter LLP.