A New York federal judge said Thursday that sanctions must be imposed against counsel from Wolf Haldenstein Adler Freeman & Herz LLP who filed an allegedly frivolous consolidated securities class action claiming AOL Inc. bought millions of its shares at artificially depressed prices before announcing a $1 billion patent sale.
Opponents of New York’s participation in a multistate cap-and-trade initiative were too late in bringing claims that the program unlawfully imposed a tax on energy by executive fiat, a state appeals court ruled Thursday.
The liquidation trustee for the estate of Getty Petroleum Marketing Inc. has filed an adversary complaint against the men who purchased the company from a unit of OAO Lukoil for $1 in 2011, claiming the buyers drained $6.5 million from the company mostly to line their own bank accounts.
A former Dell Inc. manager who provided investment firm professionals with inside information was sentenced to probation Thursday, dodging a prison term after he cooperated with prosecutors in investigations, including that of SAC Capital Advisors LP's Michael Steinberg.
LightSquared Inc. on Wednesday urged a New York federal judge not to toss its adversary suit claiming Dish Network Corp. and its chairman, Charlie Ergen, illegally bought more than $1 billion in bankrupt LightSquared's debt, arguing it has provided ample evidence Ergen wasn't acting for his benefit alone.
Private equity firm Coller Capital didn't do enough to make sure it smoothed the sale of three technology patent portfolios, the attorney for a buyer who said it lost $300 million because of the failed deal told a New York state appeals court panel Thursday.
Lululemon asked a New York federal judge on Wednesday to toss a consolidated shareholder complaint accusing the retailer of inflating its stock after consumers discovered its yoga pants were see-through, arguing that investors failed to prove that the company made misleading statements.
As trial lawyers line up to target the Metro-North railroad with multimillion-dollar claims over a deadly New York City train crash, attorneys saw the potential for liability to stretch beyond the railroad's corporate parent — possibly to the makers of the train itself — depending upon how an investigation shakes out.
New York law firm Holwell Shuster & Goldberg, launched in 2012 by former Southern District of New York Judge Richard Holwell and three former Kasowitz Benson Torres & Friedman LLP partners, is going big-time with bonuses, the firm told Law360 on Thursday.
Liberty Insurance Underwriters Inc. filed suit in New York federal court Tuesday claiming it is not responsible to provide coverage for claims brought against Wiss & Co. LLP and some of its current and former employees who were involved in financing a failed luxury resort in Costa Rica.
Video game icon Atari Inc. on Thursday received a bankruptcy court’s approval for its restructuring plan that allows it to exit Chapter 11 and keep its French parent in control of the company.
Kaufman & Co. LLC this week welcomed an experienced commercial attorney with a focus on intellectual property, real estate and media-related litigation and counsel to its recently opened New York City office.
The Second Circuit on Thursday killed a failed magazine advertising research firm’s antitrust suit claiming one-time rival GfK Mediamark Research & Intelligence LLC drove it out of business, finding no strong evidence of predatory pricing or attempted market monopolization.
America Movil could face forced asset sales based on findings from Mexico's telecom watchdog, while Kyle Bass' Hayman Capital unloaded the hedge fund's remaining stake in J.C. Penney.
Investment firm Land and Buildings called on BRE Properties Inc.'s board of directors Thursday to consider selling the company amid reports earlier this week that competitor Essex Property Trust has offered to buy the company for about $5 billion.
New York federal prosecutors on Thursday charged dozens of current and former Russian diplomats and their spouses with lying about their incomes to score Medicaid benefits in the U.S., pulling back the curtain on an alleged $1.5 million health care fraud scheme.
Lloyd's London was not required to defend or indemnify Lacher & Lovell-Taylor PC in a malpractice action alleging the estate law firm sapped a client out of $6 million in fees, a New York appellate court said Thursday, affirming a trial judge's order that $166,000 be returned to the insurer.
New York City could raise $1.6 billion in 2015 if it imposes a new progressive tax on commuters who work in NYC but live outside the city, according to a report released Wednesday by the city's independent budget office.
A group of investors including private equity firms Delos Capital LLC and Texas-based Satori Capital LLC have acquired paint, athletic surface and chemical coating manufacturer California Products Corp. for an undisclosed amount, the companies announced Thursday.
Investors can't get any discovery yet for their $450 million mortgage-backed securities lawsuit against Goldman Sachs Group Inc., a New York state judge ruled during a hearing Thursday, saying he first needed a better idea of if he'd dismiss it.
Money laundering in the context of the Foreign Corrupt Practices Act is under increased attention from prosecutors, and failure to abide by anti-money laundering compliance requirements can lead to significant enforcement actions against financial institutions, as illustrated in recent settlements by HSBC Bank and TD Bank, say attorneys with Debevoise & Plimpton LLP.
As evidenced by the U.S. District Court for the Southern District of New York's recent decision in Janus et Cie v. Kahnke, the law must balance between protecting against claims of trade secret misappropriation and permitting employers to harass former employees by litigating unsupported claims without alleging any wrongdoing, say R. Mark Keenan and Dennis Artese of Anderson Kill PC.
Sometimes — as in the Arizona immigration case — the preemption question before the U.S. Supreme Court is about state legislation, and whether the state has power to legislate in an area that is already governed by federal law. But lately the question has been more often about litigation, and whether federal law prevents plaintiffs from bringing state law claims, says Jason Steed of Bell Nunnally & Martin LLP.
The question of how hoteliers can protect themselves from financially crippling discrimination lawsuits takes on great importance in light of recent high-profile cases, such as the Millennium Broadway Hotel incident in New York and the Fontainebleau Miami Beach Hotel incident in Miami, say Richard Barrett-Cuetara of Shannon Gracey Ratliff & Miller and Peter Campbell Sode of Rutgers University.
Whether it’s an $11 million operation or a small-town baking contest, if you’re running a prize promotion, you should be aware of the high level of regulation and interest in this area of promotions law, and the fact that sweepstakes and contest sponsors can be held responsible for what may seem to be minor or technical violations and slip-ups in the administration of a promotion, say Maura Marcheski and Melissa Landau Steinman of Venable LLP.
Commentators frequently liken the auditing methods for abandoned and unclaimed property — consumer and vendor credits, gift cards, uncashed checks and dividends, and dormant accounts — to the Wild West. They describe an aggressive, lawless environ in which cash-strapped states, desperate for nontax revenue, form posses of third-party auditors with itchy, statistically deficient trigger-fingers, and let them loose in a town ungoverned by precedent or statute, says Dr. Brett A. Margolin of economics and statistics consulting firm BLDS LLC.
The New York Supreme Court’s recent summary judgment decision in Le Bel v. Donovan concerns the continued existence of a law firm upon the death of a partner. The decision illustrates that it is very difficult to obtain certainty, even where the partnership agreement explicitly dealt with this very situation, say Joan Secofsky and Richard Janvey of Diamond McCarthy LLP.
Mayor Michael Bloomberg recently signed a bill amending the New York City Human Rights Law to require most employers to reasonably accommodate pregnant workers. The new law is significant because it expands coverage to all pregnant employees, regardless of whether a pregnant employee's condition would qualify as a disability under federal, state or city law, say attorneys with Epstein Becker & Green PC.
Among 10 battle-proven strategies for getting your witnesses ready for trial is to role-play the cross-examiner. For instance, if you expect the cross-examiner to yell, get in the witness’ face or use scathing sarcasm, do that during practice to minimize surprises at trial, say Dawn Solowey and Lynn Kappelman of Seyfarth Shaw LLP.
A recent New York court decision in 172 Madison (NY) v. NMP-Group provides a foreclosing lender with potential new protections and resolution strategies if a borrower files for bankruptcy during a pending foreclosure. The decision also serves as a firm warning to potential borrowers and guarantors who think they can game the system by being a “bad boy,” say John Doherty and Robert Sullivan of Alston & Bird LLP.