New York

  • April 29, 2024

    Terraform Says SEC's $5.4B Sanction Bid Fails Under Morrison

    Crypto firm Terraform Labs and its founder Do Kwon struck back at the U.S. Securities and Exchange Commission's $5.4 billion sanctions request following its trial win, filing dual briefs Monday that argued the regulator has only shown that "a small number" of allegedly illegal token sales took place in the U.S. and under its jurisdiction as outlined in the U.S. Supreme Court's Morrison decision.

  • April 29, 2024

    DCG Gets To Face Combined Crypto Actions In Conn.

    Cryptocurrency venture capital company Digital Currency Group Inc. has won its bid to move an investor action from Manhattan to Connecticut, where it faces similar claims over alleged losses during the so-called "crypto winter."

  • April 29, 2024

    High Court Uncertainty Stalls SEC Case Against Marcum CPA

    The U.S. Securities and Exchange Commission has agreed to stay an in-house proceeding against a partner at accounting firm Marcum LLP accused of failing to properly oversee public company audits, saying that an impending U.S. Supreme Court ruling could call into doubt the agency's ability to fine the accountant.

  • April 29, 2024

    Target, Grubhub Say Visa, Mastercard Fee Deal Is A Scam

    Visa and Mastercard's settlement to slash their merchant fees by some $30 billion over the next several years has no fans in Target and Grubhub, who told the judge overseeing the long-running antitrust litigation that the deal isn't fair to anyone except the credit titans.

  • April 29, 2024

    NY Atty Gets 10 Years In Prison For Trying To Have Ex Killed

    A New York attorney convicted of arranging to pay a hitman to murder the mother of his two young children has been sentenced in California federal court to 10 years behind bars, the U.S. Department of Justice announced Friday.

  • April 29, 2024

    Bank Of China Beats Investor Suit Over Oil Derivative Trading

    The Bank of China has beaten a proposed class action alleging it misled investors and mismanaged an oil-linked derivative product, leading to $1.6 billion in losses, with a New York federal judge saying the suit fails to assert specific allegations against each of the defendants and suffers from group pleading, among other things.

  • April 29, 2024

    Diddy Calls 1991 Rape Claim 'False, Offensive And Salacious'

    Sean "Diddy" Combs has asked a New York court to trim one of the multiple sexual assault suits he is facing, calling plaintiff Joi Dickerson-Neal's allegations of a 1991 rape "false, offensive and salacious."

  • April 29, 2024

    UnitedHealth's Cyberattack Response Is 'Inadequate,' AGs Say

    Nearly two dozen state attorneys general urged UnitedHealth Group and its subsidiary Change Healthcare "to do more" to address the fallout from a February cyberattack by Russian ransomware group Blackcat that breached their systems and services, noting their response efforts to the outage "have been inadequate."

  • April 29, 2024

    Dentons, Boies Schiller Hit With $300M Fraud Suit

    The owner of a company that attempted to contract with Senegal to develop a power plant in the African nation has filed a $300 million racketeering suit against Dentons and Boies Schiller Flexner LLP, accusing the BigLaw firms of fraud and extortion in connection with their allegedly botched representation of the company.

  • April 29, 2024

    Defendant Seeks Tribe's Confidential Data In Smoke Shop Suit

    An entrepreneur being sued by the Cayuga Nation is arguing in New York federal court that he should be allowed to view "highly confidential" spreadsheets purportedly detailing revenue losses the tribe suffered due to an unlicensed smoke shop on tribal land, asserting he has no business ties to the store.

  • April 29, 2024

    'Tornado Cash' Crypto Fraud Wasn't Free Speech, Feds Say

    The founder of the Tornado Cash cryptocurrency exchange is mistaken in his arguments that First Amendment protections on computer code are grounds to dismiss his money laundering and sanctions-dodging charges, prosecutors told a Manhattan federal judge.

  • April 29, 2024

    Catching Up With Delaware's Chancery Court

    A multibillion-dollar Tesla trust proposal, a Truth Social bond, power plays over Prince's estate, and three in the ring for World Wrestling Entertainment. All of this and much more came up in Delaware Chancery Court dockets last week.

  • April 29, 2024

    Paramount CEO Departs As Rumors Of Skydance Deal Swirl

    Paramount Global said Monday that CEO Bob Bakish is stepping down and will be replaced by three senior company executives, as the company is said to be closing in on a merger deal with Skydance Media.

  • April 29, 2024

    NY Mag Readers Say Privacy Damages Enough For Fed. Court

    New York Magazine subscribers told a Michigan federal judge that "simple math" would show they clear a $5 million federal court damages threshold to bring a class action alleging the publisher disclosed their data to third parties, urging the court to ignore the magazine's bid to toss the case.

  • April 29, 2024

    ​​​​​​​Nike Settles TM Suit Against Bape Over Shoe Designs

    Nike has settled its trademark infringement suit accusing Bape of copying the "iconic" look of its Air Force 1 and Air Jordan sneakers, according to a notice of voluntary dismissal Monday, which comes nearly two months after a New York federal judge refused to nix the case.

  • April 29, 2024

    No Need To Delay $811M Immigrant Bond Co. Fine, CFPB Says

    The Consumer Financial Protection Bureau told a Virginia federal judge that there is no need to hold off fining a bonding company $811 million for predatory bonding practices, saying the company's fear of collapse is mooted by a recent sale.

  • April 29, 2024

    Menendez Defense Wants To Probe Qatari-Tied Investment Co.

    Defense attorneys representing U.S. Sen. Bob Menendez in the government's second bribery case against the New Jersey Democrat want to depose the general counsel and chief operating officer of an entity dubbed "Qatari investment company," according to filings made in New York federal court.

  • April 29, 2024

    Kirkland Adds 2nd Funds Group From Goodwin This Year

    Kirkland & Ellis LLP has hired a group of four attorneys specializing in investment funds from Goodwin Procter LLP, the firm said Monday, following its addition of five investment funds lawyers from the same firm in February.

  • April 29, 2024

    Aerosmith's Steven Tyler Beats NY Sex Assault Suit For Good

    A New York federal judge denied a former model's request to amend her dismissed lawsuit brought under the city's Gender Motivated Violence Protection Law accusing Steven Tyler of assaulting her in 1975, ruling Friday that the law is not retroactive and the statute of limitations to pursue her claims would have expired decades ago.

  • April 29, 2024

    NY Real Estate Pro Is Latest Morrison Cohen Atty To Join Loeb

    Loeb & Loeb announced the addition of another former Morrison Cohen attorney on Monday, this time a real estate partner with a record of success in the New York metropolitan area.

  • April 29, 2024

    Smith Gambrell Adds 4 Attorneys To New York Office

    Smith Gambrell & Russell LLP has added four attorneys in its New York office, two through a merger with a firm that specialized in representing companies from German-speaking countries in the U.S., and two from the recently shuttered Ingram LLP.

  • April 29, 2024

    Feds Accused Of 'Outrageous' Misconduct In Ozy Media Case

    Ozy Media and the defunct startup's founder want a New York federal judge to toss a criminal fraud case against them, accusing the government of prosecutorial misconduct and violating attorney-client privilege protections.

  • April 29, 2024

    Adidas Settles Suit Over Ads About 'Authentic' NHL Jerseys

    Sports apparel giant Adidas has reached a settlement to end a proposed class action in which a buyer claimed the company advertised and sold fake hockey jerseys branded as authentic after the court found the plaintiff reasonably pled the apparel company's use of the term "authentic" was misleading.

  • April 29, 2024

    Proskauer Brings On WndrCo GC As NY Private Funds Partner

    Proskauer Rose LLP said Monday that it has added a former general counsel and general partner of venture capital firm WndrCo as a private funds partner in New York.

  • April 29, 2024

    Justices Deny Review Of Hezbollah-Tied Bank's Immunity

    The U.S. Supreme Court on Monday refused to examine whether sovereign immunity shields a defunct Lebanese bank from terrorism victims' allegations the bank funded Hezbollah, despite the victims' contention that an answer would provide clarity for disputes involving foreign trade.

Expert Analysis

  • The Key Laws Retailers Should Pay Attention To In 2024

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    2024 promises to be another transformative year for retailers as they navigate the evolving regulatory landscape, particularly surrounding data privacy and sustainability laws, meaning companies should make it a practice to keep track of new legislation and invest in compliance efforts early on, say attorneys at Benesch.

  • What WeWork's Ch. 11 Filing Means For Landlords

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    WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.

  • SEC, NY Cybersecurity Rules Create Complexity For Insurers

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    Two separate cybersecurity rules recently adopted by the New York Department of Financial Services and the U.S. Securities and Exchange Commission pose distinct challenges for insurance industry participants, with important interactions, and potential tensions, for those required to comply with both frameworks, say attorneys at Debevoise.

  • The Ethics Of Accepting Advanced Legal Fees In Crypto

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    State and local bar associations have been weighing in on whether attorneys may accept cryptocurrency as a form of payment in advance of providing legal services, but the answer is frequently a fact-specific inquiry that demands close reading of the rules of professional conduct, say Matthew Feinberg and Jeffrey Cunningham at Goldberg Segalla.

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • 10 Steps To Reduce Risks From AI Employment Tools

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    In light of the White House’s recent executive order on responsible use of artificial intelligence, companies using AI tools to make employment decisions should take steps to understand and mitigate the legal risks posed by these products and keep up with the rapidly evolving regulations that govern them, say attorneys at Cooley.

  • Understanding Advance Notice Bylaws Is Key For All Parties

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    Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.

  • A Former Bankruptcy Judge Talks 2023 High Court Rulings

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    In 2023, the U.S. Supreme Court issued four bankruptcy law opinions — an extraordinary number — and a close look at these cases signals that changes to the U.S. Bankruptcy Code will have to come from Congress, not the courts, says Phillip Shefferly at the University of Michigan Law School.

  • 3 Defense Takeaways From The Bankman-Fried Trial

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    FTX founder and former CEO Sam Bankman-Fried’s recent fraud conviction offers several key lessons for future white collar defendants, from the changing nature of cross-examination to the continued risks of taking the stand, say Jonathan Porter and Gregg Sofer at Husch Blackwell.

  • Series

    Children's Book Writing Makes Me A Better Lawyer

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    Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.

  • Opinion

    What Happens If High Court Rejects Releases In Purdue Ch. 11

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    Reading the tea leaves following the U.S. Supreme Court's recent arguments in Harrington v. Purdue Pharma, it appears likely that the justices will decide that bankruptcy courts lack the power to release third-party claims against nondebtors, which would result in one of three scenarios, says Gregory Germain at Syracuse University.

  • A Review Of 2023's Most Notable Securities Litigation

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    There is much to be learned from the most prominent private securities cases of 2023, specifically the Tesla trial, the U.S. Supreme Court's Slack decision and the resolution of Goldman Sachs litigation, but one lesson running through all of them is that there can be rewards at the end of the line for defendants willing to go the distance, say attorneys at Fried Frank.

  • FDA's Recent Litigation Records Are Strong, But Imperfect

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    The U.S. Food and Drug Administration has notched its share of litigation wins in recent years thanks to a number of key advantages, but the FDA has been less successful in certain highly visible arenas, Jonathan Berman and Colleen Heisey at Jones Day.

  • Why Courts Are Nixing Insurer Defense Recoupment Claims

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    Following a recent trend, the Hawaii Supreme Court's decision in St. Paul Fire & Marine Insurance Co. v. Bodell Construction Co. provides a concise explanation of the argument that an insurer generally may not recoup costs for defending claims, based on three considerations, says Bradley Nash at Hoguet Newman.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

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