New York

  • June 20, 2016

    Bharara Calls Bribery Bust Of NYPD Officials Heartbreaking

    Two senior New York City police officials and a police officer were arrested Monday along with an ally of Mayor Bill de Blasio and charged with bribery offenses in what U.S. Attorney Preet Bharara called a painful example of corruption in the nation's largest police force.

  • June 16, 2016

    'Doctor Trusted' Seals Have No Medical Basis, FTC Claims

    The Federal Trade Commission on Thursday filed suit against Doctor Trusted, a website which certifies that a doctor has reviewed health care products and services sold online to provide credibility, in New York federal court, alleging the doctors conducting the reviews never used their medical expertise in the process.

  • June 16, 2016

    Chip-Card Maker’s $172M IPO Misleading, Class Action Says

    A maker of chip-enabled financial cards oversold its product in the runup to its $172.5 million initial public stock offering, misleading stock purchasers who saw the value of their shares halved as orders plummeted thanks to “bloated” inventory at financial institutions, a New York class action filed Wednesday alleges.

  • June 15, 2016

    Harvard Grad Who Lost Ropes & Gray Gig Sues Over Bar Exam

    A Harvard Law School graduate who lost her job at Ropes & Gray LLP after twice failing the bar exam has sued the New York State Board of Law Examiners for refusing to accommodate her anxiety-related disabilities until it was too late.

  • June 15, 2016

    Visium Fund Manager, Others Arrested On Fraud Charges

    Current and former portfolio managers for health care-focused hedge fund company Visium Asset Management LP on Wednesday were arrested on securities fraud charges for a pair of purported schemes to trade on inside government information and to falsely inflate one fund’s value.

  • June 14, 2016

    Boxer Socks Opponent With $5M Suit For Canceled Bout

    A Russian boxer whose failed drug test led to the cancellation of a championship fight should pay his bereft opponent at least $5 million, according to a suit filed in New York federal court Monday.

  • June 14, 2016

    Sun Products Sued Over Deceptive Detergent Packaging

    The Sun Products Corp. was hit with a putative class action in New York federal court on Tuesday alleging that the company's liquid detergent products are packaged in oversize containers that mislead consumers into thinking they are getting more detergent than they are actually purchasing.

  • June 14, 2016

    Winged Foot Lands In Rough Over Stock Price Offer

    The famed Winged Foot Golf Club has illegally scooped up and controlled the price of shares in the public company that owns the land it sits on, duping at least one shareholder into selling his stake in the company for a fraction of its actual value, a proposed class action filed Monday in New York alleges.

  • June 13, 2016

    Insurer Seeks To Cut Claims After Fresenius’ $250M Deal

    National Union Fire Insurance Co. of Pittsburgh on Monday filed a declaratory action against Fresenius Medical Care Holdings Inc., saying coverage exclusions apply to some of Fresenius' claims seeking coverage for its proposed $250 million settlement resolving multidistrict litigation over injuries allegedly caused by dialysis drugs GranuFlo and NaturaLyte.

  • June 13, 2016

    Personal Trainer Claims NBC Stole Fitness Show Idea

    The makers of the NBC show "Strong" stole the idea from a personal trainer who had been shopping his idea for a fitness competition show to Hollywood production companies, including one involved in the NBC hit, according to an at-least $7 million suit filed in New York on Friday.

  • June 13, 2016

    Contractor Accused Of Overbilling USAID On Pakistan Project

    A would-be whistleblower alleges CDM Inc. overbilled and underperformed on a series U.S. Agency for International Development projects rebuilding Pakistan’s infrastructure after a 2005 earthquake, according to a lawsuit unsealed in New York federal court Thursday.

  • June 10, 2016

    Bharara Accuses NYC Principal Of Racial Discrimination

    A high school principal in Queens repeatedly discriminated against three black teachers in violation of Title VII, according to a lawsuit filed by Manhattan U.S. Attorney Preet Bharara against the New York City Department of Education in New York federal court on Thursday.

  • June 10, 2016

    2 Ex-InSys Staffers Charged Over Fentanyl Kickback Scheme

    Two former employees of InSys Therapeutics Inc. were charged in New York on Thursday for participating in a scheme that paid kickbacks to doctors who took part in sham educational programs meant to induce them to prescribe millions of dollars' worth of a fentanyl spray, media reports said on Friday.

  • June 8, 2016

    NYC Fund Manager, Union Head Accused Of $20M Fraud

    The founder of a Manhattan hedge fund and the head of New York City's correction officers' union were both arrested on Wednesday and charged with funneling $20 million in union retirement money to the hedge fund in exchange for bribes to the union leader, according to prosecutors.

  • June 7, 2016

    Agency Challenges Pepsi Over Super Bowl Ad Copyright

    A Connecticut advertising agency says Pepsi’s “Joy of Dance” Super Bowl halftime ad wasn’t so super after all, alleging Tuesday in a New York federal lawsuit that the soft drink giant stole its idea to produce the showcase spot.

  • June 6, 2016

    Ex-JP Morgan Exec Director Files Age, Gender Bias Suit

    JPMorgan Chase & Co. is facing an age and gender discrimination lawsuit filed on Friday in New York state court by a former executive director and capital adviser in its private banking division who says that a deliberately low performance rating led to her dismissal.

  • June 3, 2016

    BofA Faces Another Antitrust Action Over SSA Bonds

    Bank of America NA, Deutsche Bank AG and others were hit Friday with a new proposed antitrust class action in New York federal court alleging traders working for the banks manipulated trades in the $9 trillion agency bond market.

  • June 3, 2016

    Ex-Oppenheimer Adviser Charged With Insider Trading

    A former investment adviser with Oppenheimer & Co. Inc. was arrested on Friday and charged with securities fraud for allegedly using information gained through a relationship with a Pfizer Inc. employee to purchase stock in the company’s acquisition targets.

  • June 2, 2016

    2 Ex-Deutsche Bank Employees Indicted For Libor Fraud

    Two former traders at Deutsche Bank have been hit with federal criminal charges in New York for allegedly working to manipulate the London Interbank Offered Rate, the U.S. Department of Justice said Thursday.

  • May 27, 2016

    Renco Bondholder Suit Aims To Thwart $211M Judgment

    Business magnate Ira Rennert's Renco Group Inc. filed a lawsuit Friday in New York that seeks to thwart bondholders’ ability to collect on a $211 million judgment over allegations that Rennert and his investment holding firm helped drive the company’s magnesium production unit MagCorp into bankruptcy.

Expert Analysis

  • Focusing A Sentencing Court On Everything But Prison Time

    Daniel Wenner

    When Chevelle Nesbeth, who was recently convicted of importation of cocaine, faced a guidelines range of 33-41 months of incarceration, a New York federal judge imposed a sentence of probation. The judge's opinion and reasoning are forceful statements about the real-world impacts of felony convictions, and have application in white collar cases, says Daniel Wenner of Day Pitney LLP.

  • Spotlight Remains On Marketplace Lenders Post-Madden

    Joseph Cioffi

    Following the U.S. Supreme Court’s denial of certiorari in Madden v. Midland Funding, the focus on online marketplace lenders spawned by the Second Circuit’s decision has only intensified. As potential issues crystallize through lawsuits and regulations, the opportunity exists for lenders to adjust their practices and steer away from unintended consequences, say Joseph Cioffi and Massimo Giugliano of Davis & Gilbert LLP.

  • NY's Latest Position On Unauthorized Insurance Co. Taxation

    Andrew D. Appleby

    The New York State Department of Taxation and Finance recently issued two advisory opinions determining that unauthorized nonlife insurance corporations are subject to insurance franchise tax instead of premium tax, a position that is arguably improper, says Andrew Appleby of Sutherland Asbill & Brennan LLP.

  • Will McDonnell Corruption Decision Save Silver And Skelos?

    James Corsiglia

    There has been widespread speculation that the U.S. Supreme Court's recent McDonnell decision provides a means to avoid prison for two of the most prominent politicians embroiled in corruption cases — Sheldon Silver and Dean Skelos. James Corsiglia of Cleary Gottlieb Steen & Hamilton LLP takes a look at whether their acts meet the new standard of “official acts” laid down in McDonnell.

  • Can Courts Review The Sandy Claims Review Process?

    Douglas J. Pepe

    While the statute of limitations has run for policyholders who want to litigate their initial Sandy insurance claim determinations, the unique nature of the failed Sandy claims review process may have reset the clock for legal redress in the courts, says Douglas Pepe at Joseph Hage Aaronson LLC.

  • NHTSA Autonomous Vehicle Rules Take An Unexpected Turn

    Todd B. Benoff

    In recent discussions about guidelines for autonomous vehicles, National Highway Traffic Safety Administration Administrator Mark Rosekind noted that states will be allowed to develop some of their own rules. However, auto manufacturers and technology companies are understandably concerned about a patchwork quilt of different state laws, which could impact not only how AVs evolve, but also when, says Todd Benoff at Alston & Bird LLP.

  • 2nd Circ. Guarantees 'Absolute And Unconditional' Guarantees

    Bonnie Lynn Chmil

    The Second Circuit's recent decision in 136 Field Point Circle v. Invar International sets aside a whole body of case law with regard to absolute and unconditional guarantees and permits liquidated damages provisions, even if violative of public policy, to be enforced against guarantors, say Bonnie Lynn Chmil and Matthew Parrott at Katten Muchin Rosenman LLP.

  • New York's Final AML Rule And Strategic Alternatives

    Michael A. Mancusi

    New York's final anti-money laundering rule imposes a burden on financial institutions unlike ever before, which should cause regulated entities to evaluate whether it makes business sense to remain a New York-regulated institution, say attorneys with Arnold & Porter LLP.

  • NY 'Zombie Property' Legislation Is Back From The Dead

    Craig M. Johnson

    "Zombie properties" — residential properties abandoned by a homeowner after the initiation of a foreclosure action but prior to the completion of such action — have been a serious problem in New York since the housing collapse of 2008, but the Legislature has finally passed a law that might be able to fix New York's zombie property epidemic, say attorneys at Dentons.

  • How To Close A Law Firm — Practically And Ethically

    Janis M. Meyer

    Winding down a law firm is at best stressful, at worst excruciatingly painful, and often carried out as if it were an emergency, rendering the process even more difficult. There are certain common steps that should be on the firm's radar from the moment the decision to dissolve is made, says Janis Meyer, a partner with Hinshaw & Culbertson LLP who helped oversee Dewey & LeBoeuf's 2012 bankruptcy filing and the subsequent wind-down of the firm.