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New York
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May 30, 2013
Blank Rome Escapes $7.5M Learning Annex Malpractice Suit
A New York state appeals court on Thursday affirmed the dismissal of a $7.5 million lawsuit alleging Blank Rome LLP hid key documents from The Learning Annex LP during a private equity investment, calling the plaintiff’s arguments unavailing.
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May 30, 2013
Allstate Beats Suit Over Property Repair Deadline
A New York federal judge on Tuesday dismissed a putative class action alleging Allstate Insurance Co. improperly requires insured property owners to fix damaged property within 180 days of receiving an actual cash value payment from Allstate, finding the provision did not run against state insurance law.
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May 30, 2013
States Drop Some Claims In Advance Of E-Book Antitrust Trial
A New York federal judge on Wednesday allowed a group of state attorneys general to drop some of their claims in an antitrust case accusing Apple Inc. of conspiring with major publishers to fix e-book prices.
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May 30, 2013
Credit Suisse Reportedly Settles Suit Over $1B Fraud
An Israeli military-tech company on Thursday dropped a lawsuit over Credit Suisse Group Inc.'s alleged involvement in a $1 billion criminal fraud run by two of its brokers, saying the financial services firm agreed to pay a settlement.
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May 30, 2013
Jaspan Schlesinger Malpractice Suit Survives Firm's Appeal
A New York appeals court on Thursday allowed a malpractice claim to proceed against law firm Jaspan Schlesinger LLP, saying there was a triable issue as to whether the firm could have prevented a former Whitney Group LLC executive from running the headhunting company into the ground by misappropriating $7 million.
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May 30, 2013
Microsoft Reaches $1M Deal In Vringo Search Engine IP Suit
Microsoft Corp. will pay at least $1 million to settle a New York federal suit brought by a unit of mobile technology company Vringo Inc., which accused Microsoft of infringing two patents related to a technology that helps search engines optimize advertisement placement, Vringo said Thursday.
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May 30, 2013
AMR Judge Greenlights Union Integration, FAA Deals
AMR Corp. on Thursday scored a New York bankruptcy judge's approval to enter a deal that significantly reduces the Federal Aviation Administration's claims against the airline, as well as an agreement outlining the integration of AMR's workers with those at US Airways Group Inc.
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May 30, 2013
Director James Ivory Settles Suit Over Film Distribution
Legendary film director James Ivory and his Merchant Ivory Productions Ltd. production company have agreed to settle a copyright infringement lawsuit against Janus Films LLC, which was accused of continuing to distribute its catalog of classic movies well after a licensing deal between the two companies had expired.
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May 30, 2013
Allstate Settles $200M MBS Suit Against Citigroup
Allstate Insurance Co. agreed to settle the $200 million mortgage-backed securities lawsuit it had lodged against Citigroup Inc., according to court filings in New York state court Tuesday, two months after another judge preserved three Allstate suits against other banks.
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May 29, 2013
NBC Gets Oxygen Employee's OT Claims Sent To Arbitration
A New York federal judge on Wednesday denied an NBCUniversal Media LLC production coordinator’s bid for collective action certification of her wage and hour claims, ordering her to arbitrate her individual allegations that the company and its Oxygen Media subsidiary failed to pay overtime.
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May 29, 2013
Spurned Dakota Tenant Can't Use Evidence Of Defamation
A New York state judge on Wednesday barred a tenant from offering certain evidence to prove damages in his discrimination and defamation suit against owners and board members of the famed Dakota apartment building, saying the tenant had failed to make the evidence available to defense counsel.
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May 29, 2013
Velvet Underground Settles Warhol Banana Rights Battle
Seminal 1960s rock band The Velvet Underground on Wednesday resolved its feud with The Andy Warhol Foundation for the Visual Arts Inc. over licensing rights to an iconic Warhol illustration of a banana.
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May 29, 2013
US Bank, Wells Fargo Escape $125M Chicago Hotel Loan Suit
Wells Fargo and U.S. Bank won dismissal Wednesday from a suit over a $125 million Chicago hotel loan's restructuring, but a New York state judge said an affiliate of Arbor Realty Trust Inc. must still face a contract claim from another junior lender.
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May 29, 2013
Bankrupt K-V Settles Texas Medicaid Fraud Suit For $3M Claim
K-V Pharmaceutical Co. has agreed to hand Texas a $3 million unsecured claim in its bankruptcy to settle a whistleblower suit alleging the company made false claims to the state’s Medicaid program, according to court documents filed Tuesday.
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May 29, 2013
2nd Circ. Upholds Ex-MediSys Chief's Bribery Conviction
The Second Circuit on Wednesday affirmed the conviction of ex-MediSys Health Network CEO David Rosen on honest services fraud and bribery charges, almost two years after he was found guilty of bribing three New York legislators in exchange for state funds and other benefits for the company.
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May 29, 2013
DelShah Loses Fraud Suit Over $4M Loss In Condo Conversion
A New York federal judge on Tuesday tossed a securities fraud suit tied to a failed commercial-to-residential condominium conversion, finding that Zamir Equities LLC hadn't misrepresented the project and that DelShah Capital LLC's $4 million investment loss was a product of its own mistakes.
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May 29, 2013
2nd Circ. Nixes Citizens Bank Managers' OT Class
The Second Circuit on Wednesday vacated the certification of a class of assistant branch managers accusing RBS Citizens NA of misclassifying them as exempt from overtime pay and sent the case back to a New York federal court for further consideration of whether certification is appropriate.
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May 28, 2013
Citi Settles FHFA's Suit Over $3.5B in MBS Sales
Citigroup Inc. settled a suit Tuesday filed by the Federal Housing Finance Agency accusing it of misguiding Fannie Mae and Freddie Mac into buying $3.5 billion worth of risky mortgage-backed securities.
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May 28, 2013
Anonymous-Linked Hacker Admits To Data Theft Conspiracy
A computer hacker linked to the group Anonymous pleaded guilty Tuesday to conspiring to steal data from intelligence firm Strategic Forecasting Inc. and others.
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May 28, 2013
Cayman Law Bars Suit Over $1B Fund, NY Appeals Court Says
A New York appeals court on Tuesday affirmed the dismissal of a derivative suit accusing an offshore life settlement fund of mismanaging a portfolio once valued at $1.2 billion, saying the suit was barred under the law of the Cayman Islands.
Expert Analysis
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Caronia And Harkonen — Lessons For The Gov't
After U.S. v. Caronia and U.S. v. Harkonen, there can be little question that the landscape has shifted — securing a final conviction in a misbranding case, based not on a false or misleading label on the drug but rather on oral statements made in promoting the drug for a nonapproved use, is, at best, a difficult quagmire for the government, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
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3 Ways To Leverage Internet Access During Trial
A survey of local rules for courthouses with available Wi-Fi has shown that no courts expressly prohibit the use of Internet by lawyers to gain information about the venire. Interestingly, at least one appellate court has held that it was error not to allow counsel to access the Internet during jury selection, say Derek Sarafa and William O'Neil of Winston & Strawn LLP.
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Takeaways From 2nd-Ever Bermuda Form Insurance Case
Recently in AstraZeneca Insurance v. XL Insurance and ACE Bermuda Insurance, the Commercial Court of England and Wales held that AstraZeneca’s insurer was not entitled to the defense costs of a litigation involving the drug Seroquel. The most surprising part of the judgment was that the court essentially stated that the same ruling might have been reached under New York law, says John Iole of Jones Day.
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NY Anti-Corruption Law Could Be A Game-Changer
Following the recent arrests of two New York state lawmakers on federal bribery charges, Gov. Andrew Cuomo has proposed legislation creating a new class of public corruption crimes. The proposals have the potential to increase the power of the state government to prosecute those accused of public corruption and fraud, say attorneys with Nixon Peabody LLP.
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How A Product Liability Case May Impact Your Insurance
The recent $236 million jury verdict in New Hampshire over the use of the gasoline additive MTBE raises the question of whether litigation of product liability losses may adversely impact insurance coverage. More specifically, it reminds companies to be aware that factual evidence that can resolve insurance coverage issues may be available in the public domain, say attorneys with Carroll Burdick & McDonough LLP.
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Turnover Under Ch. 15: In Re AJW Offshore
What happens when a foreign representative wishes to exercise rights or powers under provisions of the Bankruptcy Code that are neither expressly included nor excluded in the UN's Model Law on Cross-Border Insolvency? In In re AJW Offshore Ltd., the U.S. Bankruptcy Court for the Eastern District of New York addressed this silent zone in considering a foreign representative’s request for turnover of records pursuant to sections 542 and 543, says Kevin Ray of Greenberg Traurig LLP.
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How Do You Solve A Problem Like ReDigi?
A federal district court in New York recently ruled against ReDigi, the fledgling digital music resale service provider, in a copyright challenge brought by Capital Records. Although the result was no surprise, the decision — which will likely be appealed — leaves digital copyright law lagging some distance behind its favored hard copy brother, says Peter Karol of New England Law, Boston.
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A Lesson In Drafting Make-Whole Provisions
Today’s historically low interest rates provide debtors with the opportunity to use bankruptcy, at least in part, to refinance high-yield notes with lower interest debt while seeking to avoid paying any premium on the debt being refinanced. As a result, disputes surrounding noteholders’ rights to make-whole amounts may occur with greater frequency. The recent Southern District of New York decision in the American Airlines case is a good example, say Mark Broude and Melinda Franek of Latham & Watkins LLP.
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Sound The Alarm: Uninjured Plaintiffs Now Have Standing
The recent Second Circuit decision in National Resources Defense Council v. U.S. Food and Drug Administration sets a concrete example of the potential of Administrative Procedure Act actions involving products that are not yet proven harmful, sounding a warning alarm for regulatory agencies and manufacturers, says Jesse Morris of Weil Gotshal & Manges LLP.
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Summa V. Hofstra — A Cautionary Tale For Employers
The Second Circuit's recent decision in Summa v. Hofstra University provides a clear lesson to employers: When employers learn that their employee is being harassed, they need to not only quickly stop the harassment but also ensure that the harassed employee does not face retribution for raising the issue in the first place, say attorneys with Katz Marshall & Banks LLP.