New York

  • February 29, 2024

    Bankrupt Endo To Pay $465M To Resolve Opioid Claims

    Drugmaker Endo International has agreed to pay as much as $465 million to resolve criminal and civil claims stemming from its sale and marketing of a powerful opioid, and will turn over its assets to a group of secured lenders who will operate the company under a new corporate structure.

  • February 28, 2024

    Kasowitz Sues Ex-BigLaw Atty Client For Unpaid $470K Tab

    Kasowitz Benson Torres LLP says its former client, who previously worked at Boies Schiller Flexner LLP and Gibson Dunn & Crutcher LLP, owes more than $420,000 in legal fees for Kasowitz's work defending him in a criminal case, according to a suit filed in New York state court.

  • February 28, 2024

    Musk, Ex-Twitter Staff Fail To Reach Deal In Severance Dispute

    Settlement talks between X Corp., formerly known as Twitter, and a group of former employees have fallen apart, the parties told a Delaware federal judge on Wednesday, asking the judge to lift a stay in their dispute over severance compensation.

  • February 28, 2024

    Marcum CPA Sues To Stop SEC's 'Unprecedented' In-House Case

    A certified public accountant and Marcum LLP engagement partner has sued the U.S. Securities and Exchange Commission in New York federal court, seeking to block its administrative case against him by arguing his constitutional rights are being violated by an "entirely unprecedented" enforcement action.

  • February 28, 2024

    Wells Fargo Fired Teller For AML Whistleblowing, Suit Says

    Wells Fargo faces an ex-employee's suit alleging the bank fired her in retaliation after she raised concerns that the bank's "streamlined" online account opening process allowed customers to open accounts even if they'd previously failed screening aimed at preventing money laundering.

  • February 28, 2024

    Biotech Co., Ex-Exec And Investor To Pay $5.2M In SEC Suit

    A New York federal judge entered final judgments against medical device company RenovaCare, its controlling shareholder, and its former chief operating officer to settle a U.S. Securities and Exchange Commission suit accusing them of artificially inflating RenovaCare's stock price, ordering them to pay a total of $5.2 million.

  • February 28, 2024

    Gemini To Pay $37M Fine, Vows To Make Customers Whole

    Crypto exchange Gemini Trust Co. has committed to making users of its now-shuttered Earn product whole through the bankruptcy of its former partner Genesis Global under a new settlement with a New York regulator that included a $37 million fine for additional alleged compliance failures.

  • February 28, 2024

    Rochester Loses Telecom Fee Bench Trial Over Hearsay

    Verizon Communications and Crown Castle Fiber have won their fight with Rochester, New York, over how much the city can charge telecoms to do business after the New York federal judge overseeing the case declared the city's cost spreadsheet to be hearsay. 

  • February 28, 2024

    Kwok Trustee Seeks Second Judge's Help With Clawbacks

    Offering four high-profile bankruptcies as examples, the Chapter 11 trustee overseeing the $374 million case of Chinese exile Ho Wan Kwok has suggested that a second Connecticut bankruptcy judge could act as a mediator to help speed a deluge of 278 avoidance actions efficiently toward possible settlements.

  • February 28, 2024

    Objectors Want $1M Atty Fees In $5.6B Swipe Fees Settlement

    Class members who initially objected to a $5.6 billion settlement with Visa and Mastercard have told a New York federal judge they are seeking nearly $1 million in legal fees for "enhancing the adversary process, sharpening the debate, and pursuing meritorious appeals in this litigation over the past eleven years."

  • February 28, 2024

    Elite Schools Get OK For $166M More Aid-Fixing Deals

    An Illinois federal judge handling student aid-fixing allegations against 17 top universities gave his initial blessing to another $166 million in settlements Wednesday, the day after he ordered three universities to produce documents that could show they handled certain students' admissions differently from others.

  • February 28, 2024

    Ousted Roche Freedman Atty Wants Ex-Partners Sanctioned

    The ousted partner of the law firm formerly known as Roche Freedman LLP asked a New York federal judge to impose sanctions on his former colleagues, claiming the partners destroyed evidence when they communicated through an application that auto-deleted their messages in the lead-up to voting him out of the firm.

  • February 28, 2024

    Intercept, Others Hit OpenAI, Microsoft With Copyright Suits

    The Intercept and two other news publications filed nearly identical complaints against OpenAI and Microsoft Wednesday, accusing them of removing author and copyright information from material used to train ChatGPT.

  • February 28, 2024

    AG James Accuses Meat Co. JBS Of Misleading Enviro Claims

    New York Attorney General Letitia James slapped JBS USA, the U.S. subsidiary of the world's largest producer of beef products, with a complaint in New York state court Wednesday, accusing the company of misleading the public about the environmental impact of its products.

  • February 28, 2024

    NY Bar Assoc. Building Owner Hits Ch. 11 Amid Lender Tiff

    The company that controls the historic New York County Lawyers Association Building in Manhattan petitioned a New Jersey bankruptcy court for Chapter 11 protection Wednesday, estimating between $50 million and $100 million in debt, as it faces in New York a roughly $28 million lawsuit leveled by a mortgage lender.

  • February 28, 2024

    Brazilian Airline Approved For Ch. 11 Loan Worth $1B

    GOL Linhas Aereas Inteligentes SA received final bankruptcy court approval Wednesday for a debtor-in-possession financing package that has grown to $1 billion after achieving consensus with creditors that previously objected to the package.

  • February 28, 2024

    Amgen Seeks Dismissal Of Investor Action Over $11B Tax Bill

    Amgen had no obligation to disclose specific amounts of proposed adjustments to its taxes, the company told a New York federal court as it again demanded dismissal of a proposed class action alleging the company hid a $10.7 billion tax bill from investors.

  • February 28, 2024

    Bankrupt Coffee Co. Says Nicaraguan Asset Sale Unlikely

    Coffee supplier Mercon Coffee Corp. Wednesday told a New York bankruptcy judge it no longer believes it will be able to win government cooperation for the sale of its Nicaraguan assets before it runs out of cash to fund its Chapter 11 case.

  • February 28, 2024

    Ex-NYPD Officer Accused Of Forex Investment Fraud

    A former NYPD officer has been charged with using misrepresentations to induce people to invest in his foreign exchange fund and then paying them back with proceeds from future investors to give the appearance of legitimacy.

  • February 28, 2024

    MasterCard Loses Another Attempt To End Patent Case

    The Federal Circuit ruled Wednesday that MasterCard will have to continue litigating against a patent litigation outfit that the credit card company has been fighting for almost a decade over language in a 2005 patent licensing agreement, with one judge pointing out that the case "illustrates the importance of carefully reviewing the language in a covenant not to sue."

  • February 28, 2024

    Halkbank Immunity Gambit Doesn't Appear To Sway 2nd Circ.

    The Second Circuit did not appear keen Wednesday to dismiss criminal charges accusing Halkbank of laundering over $1 billion of Iran oil proceeds, after the U.S. Supreme Court directed arguments on the Turkish state-owned lender's assertion that common-law sovereign immunity protects it.

  • February 28, 2024

    Anderson Kill Litigator To Co-Lead GRSM50 Antitrust Group

    Gordon Rees Scully Mansukhani LLP has tapped a former Anderson Kill PC litigator with more than three decades of civil and criminal experience to co-chair its antitrust practice group, the firm announced on Wednesday.

  • February 28, 2024

    Trump Can't Freeze $465M Penalty But Can Seek Loans

    A New York state appellate judge on Wednesday refused to freeze the $465 million civil fraud judgment against Donald Trump while he appeals the award, but said the former president could take out loans to cover the cost of the judgment.  

  • February 28, 2024

    2nd Circ. Revives Asylum Bid Over Testimony Interruption

    The Second Circuit ruled that an immigration judge wrongly faulted an asylum-seeking Eritrean man for not testifying about being tied up and left outside after being interrogated by the Eritrean military, saying the judge didn't give the man a chance to.

  • February 28, 2024

    NY Judge In Trump Case Receives Suspicious White Powder

    A suspicious white powder spilled out of an envelope addressed to the judge who ruled against Donald Trump in his New York civil fraud case, prompting emergency personnel to flood the courthouse at 60 Centre St. in Manhattan on Wednesday.

Expert Analysis

  • 5 Takeaways From SEC's First Marketing Rule Action

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    The U.S. Securities and Exchange Commission's recent settlement — the first under the amended marketing rule — with Titan Global on charges that the fintech company misled investors shows investment advisers that they should expect close scrutiny of marketing materials and that their questions will only be answered through SEC enforcement, say attorneys at Mayer Brown.

  • Previewing Big Changes To NY's Finance Cybersecurity Rules

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    With the New York State Department of Financial Services likely to significantly amp up its cybersecurity requirements for financial institutions later this year, covered entities should prepare to adapt their technical security safeguards and employee protocols to comply with the proposed amendments, say attorneys at Squire Patton.

  • What Upholding Of Short-Term Rental Law Means For NYC

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    A New York state judge's dismissal of Airbnb's challenge against the Short-Term Rental Registration Law will benefit the city's hospitality industry and exert downward pressure on apartment rents, and potentially provide a model for other local governments around the U.S. to curb short-term apartment rentals, says Alexander Lycoyannis at Holland & Knight.

  • Lessons From High-Profile Witness Tampering Allegations

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    As demonstrated by recent developments in the cases against former President Donald Trump and FTX founder Sam Bankman-Fried, allegations of witness tampering can carry serious consequences — but attorneys can employ certain strategies to mitigate the risk that accusations arise, says Kenneth Notter at MoloLamken.

  • Ruling Clarifies Bankruptcy Courts' Class Action Jurisdiction

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    The Second Circuit’s recent ruling in Bruce v. Citigroup shines a light on the limits of bankruptcy court jurisdiction over class actions and provides leverage for defendants to enforce the idea that courts should grant motions to dismiss and strike class allegations, say attorneys at McGuireWoods.

  • If Binance Criminally Charged, Crypto Exchanges May Exit US

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    Unlike recent government enforcement actions against Ripple Labs and Terraform, which were isolated to those companies, should the U.S. Department of Justice pursue criminal charges against industry go-to crypto exchange Binance, it could mean exchanges deciding to stop servicing the U.S., says Andrew St. Laurent at Harris St. Laurent.

  • Opinion

    A New Strategy For Defending Spine Injury Claims

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    With spinal injury claims proliferating — often with verdicts in the seven-figure range — defense counsel can expand their current trial playbook by retaining experts to prepare and publish peer-reviewed scientific studies that can then be used in the courtroom to help juries understand the issues, says Nicholas Hurzeler at Lewis Brisbois.

  • 2nd Circ. Ruling Is Good For Syndicated Lending Stability

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    The Second Circuit’s recent Kirschner v. J.P. Morgan Chase decision reaffirms the long-held market practice that syndicated loans are not securities, representing a positive development for the continued strength of the syndicated lending market, and demonstrating the importance of structuring loan terms to avoid mischaracterization, say attorneys at Latham.

  • Fair Lending Activity: Calm On The Surface, Churning Below

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    The Consumer Financial Protection Bureau's recently released annual fair lending report to Congress confirms that despite the paucity of public fair lending enforcement actions in 2022, the CFPB and prudential banking agencies are engaged in significant nonpublic oversight, examination and enforcement activities, say attorneys at Cooley.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Gauging The Scope Of NYC's New AI Employment Law

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    Although employers have received some guidance on the requirements of New York City's new restriction on the use of automated employment decision tools, there are many open questions to grapple with as Local Law 144 attempts to regulate new and evolving technology, say attorneys at Gibson Dunn.

  • The 7 Most Notable FCRA Cases Of 2023 So Far

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    Both consumer reporting agencies and furnishers should take note of Fair Credit Reporting Act decisions by federal district and appellate courts so far this year, especially those concerning dispute processing and the distinction between legal and factual inaccuracies, say attorneys at Troutman Pepper.

  • Opinion

    Purdue Ch. 11 Case Exemplifies Need For 3rd-Party Releases

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    In the Purdue Pharma Chapter 11 case, the U.S. Supreme Court will eventually decide whether the Bankruptcy Code authorizes a court to approve third-party releases, but removing this powerful tool would be a significant blow to the likelihood of future victims being made whole, says Isaac Marcushamer at DGIM Law.

  • Mont. Kids' Climate Decision Reflects 3 Enviro Trends

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    A Montana district court's recent ruling in Held v. Montana represents a rare win for activist plaintiffs seeking to use rights-based theories to address climate change concerns — and calls attention to three environmental trends that are increasingly influencing climate litigation and policy, says J. Michael Showalter at ArentFox Schiff.

  • 3 Factors That May Complicate Jury Selection In Trump Trials

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    As former President Donald Trump prepares to face four trials in Georgia, Florida, New York and Washington, D.C., judges and attorneys in these venues may find it challenging to seat fair and impartial juries for several key reasons, says Richard Gabriel at Decision Analysis.

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