Top News

  • October 31, 2014

    Herbalife Pays $15M To End 'Pyramid Scheme' Class Action

    Herbalife Ltd. agreed to pay more than $15 million to members of its sales force who filed a class action accusing the company of being a pyramid scheme, according to a proposed settlement filed in California federal court Friday.

  • October 31, 2014

    Galleon's Rajaratnam Says $92M Fine Carried Bogus Motives

    Convicted Galleon Group LLC founder Raj Rajaratnam on Friday kicked off a Second Circuit fight over his $92.8 million civil fine, telling the appeals court that U.S. District Judge Jed Rakoff improperly used the fine to try to impoverish him.

  • October 31, 2014

    BofA, US Bank To Settle Suit Over $3.3B WaMu Losses

    Bank of America counsel told a New York federal judge Friday that they've reached a meeting of the minds with pension funds suing BofA and US Bank, which are the trustees of 19 Washington Mutual mortgage-backed securities portfolios that have allegedly experienced over $3.3 billion in recognized losses.

  • October 31, 2014

    Samsung's Cheil Goes For $1.4B IPO As SDS Prices At $1.1B

    Two Samsung companies are gearing up for two big offerings this year, with the de facto group holding company, Cheil Industries, applying for a $1.4 billion IPO Friday, the same day information technology unit Samsung SDS Co. priced at nearly $1.1 billion, as the group chairman prepares to hand over the reins of his empire. 

  • October 31, 2014

    Insurer Must Pay $50M Of Cameron's Deepwater BP Deal

    A Louisiana federal judge ruled Friday that Liberty International Underwriters Inc. must cover $50 million of a $250 million settlement reached between Cameron International Corp. and BP PLC over Cameron’s failed Deepwater Horizon blowout preventer, but that the insurer doesn’t have to also pay for defense costs.

  • October 31, 2014

    2nd Circ. Denies UBS Arbitration Bid In Facebook IPO Spat

    A split Second Circuit on Friday rejected UBS Securities LLC's bid to revive a $350 million arbitration over Nasdaq OMX Group Inc.'s alleged breach of an agreement for mishandling Facebook Inc.'s initial public offering in May 2012.

  • October 30, 2014

    Whirlpool Leaves 'Price Premium' Theory Down, But Not Out

    Whirlpool Corp.'s victory Thursday in a closely watched moldy-washer lawsuit dealt a blow to claims that consumers paid more for a product believing it did not have a defect, but attorneys say the so-called price premium theory will continue to be a major front in a variety of consumer litigation.

  • October 30, 2014

    Barclays Takes $800M Provision Related to Forex Probes

    Barclays PLC announced Thursday that it has taken a £500 million ($800.3 million) provision in the third quarter related to government investigations into its foreign exchange trading activities, joining another bank that announced a large set-aside this week.

  • October 30, 2014

    Spain's Abertis Eyes Telecom Spinoff

    Spanish road operator Abertis Infraestructuras told regulators Thursday that it wants to spin off its telecommunications business and list it on the Madrid Stock Exchange, believing that the unit is not returning its full potential value to shareholders.

  • October 30, 2014

    GTAT Judge Intends To Unseal Records On Apple Spat

    The judge presiding over GT Advanced Technologies Inc.’s secretive bankruptcy on Thursday endangered a settlement of the contract dispute with Apple Inc. that destroyed GT's business, saying that a key document both companies want sealed should be made public.

  • October 30, 2014

    AgFeed Shareholders Blame Hormel For Ch. 11

    The equity committee for bankrupt AgFeed Industries Inc. launched an adversary action Wednesday alleging ex-business partner Hormel Foods Corp. made “false representations” and knew about claims it had asserted against the hog production company that led to an arbitration award that the debtor says ultimately pushed it into Chapter 11.

  • October 29, 2014

    EXCLUSIVE: SEC Issued Badges Without Security Checks

    The U.S. Securities and Exchange Commission neglected to perform required background checks before giving security keycards to some of its workers and failed to document who received those keycards, according to a previously undisclosed report by the agency’s inspector general.

  • October 29, 2014

    9th Circ. Shreds Stan Lee Media's Iron Man Lawsuit

    The Ninth Circuit on Wednesday tossed Stan Lee Media Inc.'s lawsuit against its former president, comic book legend Stan Lee, alleging it owns characters he created or co-created, including Spider-Man, Iron Man and the X-Men, calling the company's claim "simply implausible."

  • October 29, 2014

    Wells Fargo Must Pay $203M Overdraft Award, 9th Circ. Says

    Wells Fargo Bank NA can't escape a $203 million class action penalty for misrepresenting the way it processed debit cards in order to maximize overdraft fees, a Ninth Circuit panel ruled Wednesday, saying the bank's false statements support the lower court's decision.

  • October 29, 2014

    McGraw-Hill Takes $60M Charge To Cover SEC Probe Of S&P

    McGraw-Hill Financial Inc. is in talks to end a Securities and Exchange Commission investigation into its Standard & Poor's Ratings Services unit, taking a $60 million charge this quarter to cover potential costs in a resolution there, it said Wednesday.

  • October 29, 2014

    Anadarko's Western Gas Pays $1.5B For Nuevo Midstream

    Anadarko Petroleum Corp. subsidiary Western Gas Partners LP will buy private-equity backed Nuevo Midstream LLC for $1.5 billion, bolstering development potential in the fertile Delaware Basin where its parent is producing energy.

  • October 29, 2014

    HSBC's $40M TCPA Deal Goes To Judge For Final Approval

    A Nevada federal judge was asked on Tuesday to grant final approval to a $40 million settlement that would resolve class action allegations that HSBC Bank NA violated the Telephone Consumer Protection Act, and to quash the efforts of so-called “professional objectors” to scuttle the deal.

  • October 29, 2014

    Fifth Street Returns With Downsized IPO After Pulling Plug

    Fifth Street Asset Management Inc. has revitalized its initial public offering plans, slashing the amount of shares and their expected price late Tuesday after calling off plans last week amid bumpy market conditions and continued volatility for new issuers.

  • October 29, 2014

    Ex-SAC Trader Hires Paul Clement In 2nd Circ. Appeal

    Former SAC Capital Advisors LP manager Mathew Martoma has retained star attorney Paul Clement of Bancroft PLLC as he prepares to appeal a nine-year insider trading sentence to the Second Circuit, according to a Wednesday court filing.

  • October 28, 2014

    Comcast Agrees To $50M Settlement In Philly Antitrust Row

    A group of Philadelphia-area Comcast Corp. customers on Tuesday said the cable giant would pay $50 million to settle their decade-long putative class action accusing Comcast of controlling a regional monopoly for TV services.

Expert Analysis

  • 6 Tips For Creating Effective Trial Graphics

    Aaron Stienstra

    These days, jurors and judges are so accustomed to seeing graphics — on the street, on the Web, on their smartphones — that they expect to see something good in the courtroom. The best graphics are composed of consequential information, clearly displayed, with emphasis on what matters most, paired with artwork that adds meaning. This simultaneously compels people to think, feel and make decisions, says Aaron Stienstra, design direc... (continued)

  • Takeaways From United Technologies' $75M Settlement

    Jeffrey Gerrish

    United Technologies Corporation's global settlement with the U.S. Departments of State and Justice underscores the importance of a robust compliance program to prevent, detect and remediate any violations of export control laws or regulations — especially if products and services are destined for China, say Jeffrey Gerrish and Soo-Mi Rhee of Skadden Arps Slate Meagher & Flom LLP.

  • Understanding Mayo V. Prometheus

    William Merkel

    Following the U.S. Supreme Court's treatment of the machine-or-transformation test in Mayo Collaborative Services Inc. v. Prometheus Laboratories Inc., the test — previously thought to be the governing test for patent eligibility under § 101 — no longer appears to occupy such a prominent role in patent-eligibility jurisprudence, says William Merkel of Marshall Gerstein & Borun LLP.

  • Radlax — 'An Easy Case'

    Douglas Spelfogel

    “This is an easy case,” Justice Antonin Scalia wrote in his opinion in Radlax Gateway Hotel LLC v. Amalgamated Bank, settling the issue of whether the Bankruptcy Code grants the secured creditor a right to credit bid in an auction sale under a plan. But interestingly, the opinion barely mentions the infamous Philadelphia News decision from the Third Circuit which was effectively overruled by the U.S. Supreme Court, say attorneys wi... (continued)

  • The Latest Attempt At Criminalizing 'Robo-Signing'

    Ralph Mazzeo

    While the New York state Senate did not act on the Foreclosure Fraud Prevention Act of 2012 before adjourning its regular session — and as a result there is little chance the bill will be enacted this year — the bill represents the latest attempt by state governments to impose criminal liability on fraudulent foreclosure practices by mortgage servicers or their employees, say attorneys with Dechert LLP.

  • How The 2nd Circ. Aleynikov Opinion Went Awry

    Mark Krotoski

    In United States v. Aleynikov, the Second Circuit recently created an unfortunate cloud over the scope of the federal trade secret statute. The decision detracts from the primary legislative objectives to promote and protect national economic security and punish individuals who misappropriate intellectual property in the form of trade secrets, say Mark Krotoski and Richard Scott of the U.S. Department of Justice.

  • PPACA Victory Sets Stage For New Wave Of Litigation

    Howard Shapiro

    Although the Patient Protection and Affordable Care Act and its coverage mandates have been upheld, the lack of regulatory guidance for many key areas of the statute creates uncertainty regarding implementation and enforcement. No matter how employers and plan fiduciaries approach the various coverage mandates, it is clear that the future is not without risk of litigation, say attorneys with Proskauer Rose LLP.

  • Did The Court Get The Oracle Analysis Right?

    David Makman

    The Northern District of California's opinion in Oracle America Inc. v. Google Inc. is suprising given that there was direct copying and that the threshold of originality required for a work to qualify as copyrightable has traditionally been so low that the application programming interfaces almost certainly qualified as sufficiently original to be protected by copyright, says David Makman of the Law Offices of David A. Makman.

  • Facing CFIUS: Better Safe Than Sorry

    George Wang

    The Committee on Foreign Investment in the United States recently blocked yet another acquisition involving Chinese investors. Any foreign companies looking to invest in the U.S. should be wary of the scrutiny they may confront, and determine whether CFIUS review is likely, say George Wang and Yelena Kotlarsky of Haynes and Boone LLP.

  • A Closer Look At ING's $619M Settlement

    Ed Krauland

    ING Bank NV's $619 million fine to settle criminal charges is the largest ever against a financial institution in connection with an investigation into U.S. sanctions violations and related offenses. The enforcement action is also notable in several other respects, say attorneys with Steptoe & Johnson LLP.