The Bank of New York Mellon Corp., acting as a trustee for a pool of home loans, has hit JPMorgan Chase Bank NA and others with a New York suit seeking $475 million over alleged misrepresentations made in the sale of $959 million in residential mortgage loans.
Lord & Taylor LLC is facing allegations by a former employee that it stood by while her boss’ “demeaning fascination” with her sexual orientation intensified into his crashing her same-sex wedding, according to a suit filed in New York federal court on Wednesday.
Mississippi’s public pension fund has launched a shareholder class action against Millennial Media Inc., claiming the mobile ad purveyor deceived investors about the viability of its technology platform prior to its $152 million initial public offering and a subsequent $162 million stock sale.
A slew of major banks, including Bank of America Corp. and BNP Paribas SA, were accused in a new class action Wednesday in New York federal court of conspiring to fix a leading benchmark for interest-rate derivatives, as an investigation by the U.S. Commodity Futures Trading Commission into possible abuses continues.
An activist investor facing an “imminent” U.S. Securities and Exchange Commission fraud suit filed his own complaint in New York federal court alleging SEC administrative actions are unconstitutional because the agency’s administrative law judges have too many layers of tenure protection.
Queens-based New York Democratic Assemblyman William Scarborough was arrested and indicted Wednesday on charges that he stole campaign funds and filed 174 false travel reimbursement requests, according to the state's attorney general.
Three former derivatives traders for Barclays Capital Inc. alleged on Tuesday in New York federal court that the bank wrongly stopped paying legal fees for their defense of regulators' allegations that they were part of a scheme to manipulate the London interbank offered rate.
Steadfast Insurance Co. filed suit Monday in New York court, saying it does not have to provide $25 million in coverage to Ally Financial Inc. for its $98 million settlement with the Consumer Financial Protection Bureau and the U.S. Department of Justice, which had alleged that it discriminated against certain auto loan borrowers by charging them higher interest rates.
Cafe Lalo, the restaurant famously featured in "You've Got Mail" with Meg Ryan and Tom Hanks, was hit Friday with a putative class action in New York federal court alleging the Upper West Side spot failed to pay overtime wages and accusing its manager of sexually harassing the wait staff.
A resident of a Manhattan condominium that was used for an “unauthorized adult sex orgy party” when it was rented through Airbnb Inc. urged a state court on Saturday to award him $2.7 million from the condominium complex for mental anguish and lost business opportunities.
An attorney who claims to have helped St. John's University recover royalties from a former professor and a student for their licensing of patents that created powdered forms of liquid medications has sued St. John's in New York state court seeking to recover potentially millions of dollars.
The U.S. Equal Employment Opportunity Commission said Thursday it has filed a complaint against legal staffing firm Strategic Legal Solutions for allegedly discriminating against an attorney applicant because of her age, in violation of federal law.
Procter & Gamble Co. and Unilever were each hit with separate putative class actions in New York federal court this week alleging their Old Spice, Axe, Degree and Gillette deodorants are sold in oversized packaging that misleads consumers into thinking they’re buying more product than they’re getting.
The U.S. Securities and Exchange Commission on Tuesday charged two Florida attorneys with playing a part in an offering fraud that swindled investors of $3.3 million by selling counterfeit stock certificates via cold calls.
Major League Baseball was hit Monday in New York state court with a putative class action alleging the league violated state wage laws by failing to pay volunteers who staffed the fan festival surrounding the 2013 all-star game.
Indonesian mobile phone company PT Bakrie Telecom TBK and several of its affiliates were slapped with a breach of contract lawsuit in New York state court Monday by investors who claim the company has failed to make interest payments on $380 million in bonds.
Davidoff Hutcher & Citron LLP on Tuesday sued fired partner and Long Island local lawmaker David Denenberg in New York City court, accusing the rising politician of a "truly heinous" criminal overbilling scheme that netted some $2 million over eight years.
Amtrak has filed suit against a number of insurers in New York federal court to recoup the total $504 million in losses the rail giant claims to have suffered from Superstorm Sandy, telling the court it has only received $30 million in compensation from the insurers thus far.
American Airlines Inc. on Thursday slapped the Port Authority of New York and New Jersey with a breach-of-contract suit in New Jersey federal court, claiming the authority’s negligence in maintaining fire suppression systems at LaGuardia Airport resulted in flooding damage to an American Airlines hangar.
Nomura Credit & Capital Inc. has been hit with a fifth New York state court suit over its sale of mortgage-backed securities to a trust purpose built for Nomura MBS and trusteed by HSBC Bank USA NA, this time over more than $613 million worth of loans the plaintiffs say were materially misrepresented.
It is a given that zoning should be a part of every developer’s due diligence. The question is, though, how much zoning analysis is enough and who should provide it, says Frank Chaney of Rosenberg & Estis PC.
In a recent Madoff-related decision, the Second Circuit took a relatively aggressive stance on U.S. court review of asset sales in Chapter 15 cases, and the ruling may have effects in bankruptcy cases outside Chapter 15, say George Shuster and Benjamin Loveland of WilmerHale.
Fifty years ago, Justice Felix Frankfurter cautioned courts about getting mired in the “political thicket” of redistricting. In agreeing to hear Arizona State Legislature v. Arizona Independent Redistricting Commission, the U.S. Supreme Court could be about to take a big step further into that thicket, says Michael Li, counsel at the Brennan Center for Justice, NYU School of Law.
There is an inherent tension between the process of preparing a corporate representative to testify and the protections usually afforded by attorney-client privilege. Judicial decisions addressing these tensions are limited and, as of yet, the Federal Circuit Courts of Appeals do not appear to have weighed in on these issues in any meaningful way, say Vanessa Miller and Nicholas Ellis of Foley & Lardner LLP.
The Second Circuit recently vacated a conviction in U.S. v. Zhyltsou because the trial court improperly admitted social media evidence that the government tied to the defendant without sufficient proof of its authenticity. The foundational prerequisites to authenticate and admit website evidence must be carefully considered and developed before presentation at trial, say attorneys with Nixon Peabody LLP.
Both Huggins v. Liberty Mutual Insurance Co. and Duffy v. Certain Underwriters at Lloyds of London offer lessons for policyholders — they should seek the broadest coverage possible and look to hold their brokers liable when failing to provide the coverage originally promised, say attorneys at Anderson Kill PC.
It has long been believed in New York that a Yellowstone injunction is not available in an action stemming from a default based solely upon the nonpayment of rent. However, the recent decision rendered and analysis proffered by a state court in Sagi Restaurant Corp. v. Brusco W. 78th St. LLC serves to debunk this notion, says Jesse Schneider of Davis & Gilbert LLP.
If the U.S. Supreme Court applies strict scrutiny in Williams-Yulee v. Florida Bar to strike down reasonable restrictions on judicial campaign activity, the increasing flood of judicial campaign spending may further damage the public’s eroding confidence in the judiciary, says Matthew Menendez, counsel in the Democracy Program at the Brennan Center for Justice, NYU School of Law.
The loss of a top officer to a criminal investigation is not unheard of, particularly in a change-of-control transaction. The Second Circuit’s ruling in a case involving a former Duane Reade Inc. CEO's securities fraud conviction establishes rules for companies to recover costs of investigation as restitution under the Victim and Witness Protection Act, say Lewis Liman and Breon Peace of Cleary Gottlieb Steen & Hamilton LLP.
Moving away from a stringent no-damage-for-delay provision — as the city of New York and its various agencies are now doing — may make owners more inclined to respond to cost confirmations and agree to the contractor’s figures. That's one less obstacle on the path to a smoother confirmation process, say Adam Paterno of Holland & Knight LLP and Carl Oliveri of Grassi & Co.