A host of limited partners in funds formerly managed by The Nutmeg Group LLC launched a derivative suit Friday claiming a Barnes & Thornburg LLP partner tapped to act as receiver violated financial regulations and mismanaged the funds, costing investors upward of $50 million.
Hogan Lovells has brought four new intellectual property partners on board from Haynes and Boone LLP and a fifth from an independent firm to join its offices in Silicon Valley and San Francisco, it said Monday.
Lead attorneys for victims of the Deepwater Horizon oil spill on Monday urged a Louisiana magistrate judge to reject discovery requests from opponents of a $7.8 billion class action settlement, saying the demands for more details about the deal are publicity stunts.
A Texas federal judge on Monday added $5 million to a $10 million jury award against Citrix Systems Inc. following a trial that found the software maker willfully infringed SSL Services LLC's patented technology covering software for virtual private networks.
Around 60 former Howrey LLP attorneys have joined forces and hired counsel to defend against potential clawback suits from the defunct law firm's Chapter 11 trustee, according to documents filed in California bankruptcy court Friday.
A Kinder Morgan Inc. subsidiary on Friday settled a $45 million suit against a general contractor that charged more than double its bid to construct a 135-mile natural gas pipeline, ending three years of litigation in Texas court on the eve of trial.
The Sixth Circuit on Monday affirmed a ruling that Federal Insurance Co. does not owe Goodyear Tire & Rubber Co. $10 million in excess coverage for legal fees incurred during a series of shareholder lawsuits over a $280 million accounting restatement.
The Second Circuit on Monday agreed to put a hold on a book digitization dispute between Google Inc. and a group of authors while Google contests class certification, further elongating a copyright dispute that has run for seven years.
A Washington federal judge on Monday approved a $24 million settlement between SLM Corp., the parent company of Sallie Mae Inc., and a class of borrowers who alleged the student loan company autodialed their cellphones in violation of the Telephone Consumer Protection Act.
A Florida federal judge on Monday confirmed an arbitration panel’s $10.3 million award to two former Merrill Lynch brokers who said they never received their contractual deferred compensation after they resigned, saying there was no evidence of improper conduct by the panel.
In a dispute with an ex-Dewey & LeBoeuf LLP partner who defaulted on a Citibank NA loan, the bank denied Wednesday that it conspired with Dewey to take advantage of partners in granting them capital contribution loans despite knowing of the firm's financial condition.
The head of the U.S. Department of Justice's Public Integrity Section will leave the agency next month to become a partner in O'Melveny & Myers LLP's white collar defense and corporate investigations practice, according to the firm.
Russell Wasendorf Sr., disgraced CEO of bankrupt Peregrine Financial Group Inc., pled guilty Monday to a $100 million embezzlement scheme and was ordered to remain in custody after prosecutors warned he may try to flee the country to avoid prison.
The Fifth Circuit on Friday denied Countrywide Home Loans Inc.'s bid to overturn the certification of a class of borrowers who claim they were charged illegal fees, ruling that the bankruptcy judge had properly defined the class.
A proposal that would provide pregnant employees with protections similar to those extended to disabled workers picked up steam Friday when a U.S. senator unveiled a companion to a bill previously introduced in the House of Representatives.
A New York federal judge on Thursday shaved a hefty chunk off the “breathtaking” $3.1 million in fees sought by Kramer Levin Naftalis & Frankel LLP in a real estate dispute, saying it was “highly unlikely” that the firm reviewed its billing records.
A Wisconsin judge's ruling nullifying key parts of a controversial state law curbing public employees' collective bargaining rights on the grounds that the law was unconstitutional could stymie efforts to enact similar limitations on bargaining in other parts of the country, attorneys said Monday.
Holland & Knight LLP's Chicago office has scored a former federal prosecutor and SNR Denton partner to strengthen its white collar practice group, particularly in the health care, insurance and finance realms, the firm announced Monday.
The U.S. on Monday lodged a complaint with the World Trade Organization over Chinese government subsidies on cars and auto parts, the same day China launched its own WTO challenge over U.S. duties on billions of dollars worth of exports.
Chicago's Board of Education asked an Illinois court Monday to force an end to the weeklong city teachers' strike after the union balked at a tentative deal, but a quick resolution seemed unlikely after a judge declined to consider an injunction before Wednesday.
While many advocates of the Volcker Rule want to leave it as is, it seems likely, and certainly just, that exceptions for municipal securities and tender offer bond programs will be made. Without these exceptions, there will be increased costs in borrowing for state and local governments, the municipal bond market will be disrupted, and a key class of short-term debt available for money market investors will be eliminated, says Jamie Kocis of Kramer Levin Naftalis & Frankel LLP.
The actions by the U.S. Department of Justice in USA v. Pyo may mark the first time criminal charges have been brought against defendants for altering documents submitted with a Hart-Scott-Rodino filing and during a merger investigation. The charges serve as a stark reminder that HSR filings and subsequent Federal Trade Commission and DOJ review and analysis of a proposed transaction constitute an "official proceeding" for purposes of the criminal obstruction statutes, say attorneys with Jones Day.
The Fourth Circuit's highly anticipated ruling in Rosetta Stone Ltd. v. Google Inc. implicitly acknowledges that keyword advertising programs are being used by some advertisers for deceptive purpose, and could renew interest in search engines as potential targets for trademark enforcement actions, say Sheldon Klein and Ashley Ewald of Gray Plant Mooty.
The U.S. Supreme Court decision in Mayo Medical Laboratories v. Prometheus Laboratories has been extensively discussed in the media, but its possible impact on the Federal Circuit decision in Myriad has received much less attention. Prometheus increases the invalidity risk for the isolated BRCA DNA claims of Myriad and other patents having similar claims, says Barry Wilson of Sheppard Mullin Richter & Hampton LLP.
In a watershed moment for the transgender community, the Equal Employment Opportunity Commission has solidified its intended protection of transgender employees under Title VII of the Civil Rights Act of 1964. This decision highlights the broad range of protected categories that could subject employers to more liability for discrimination, say Rania Afram and Eugene Connors of Reed Smith LLP.
The increased participation in the U.S. banking market by foreign banks in recent years can be expected to increase more rapidly following the Federal Reserve's May 9 approval of controlling investments in a U.S. bank by three Chinese entities, say Gerard Comizio, Kevin Petrasic and Helen Lee of Paul Hastings LLP.
The Eleventh Circuit's decision in Morgan Keegan follows the U.S. Supreme Court’s decision in Matrixx Initiatives Inc. v. Siracusano, which declined to establish a bright-line test for evaluating materiality and instead reaffirmed that whether an alleged misstatement or omission is material is a fact-specific inquiry, say Kenneth Hausman and Arthur Luk of Arnold & Porter LLP.
Does a secured creditor have an absolute right to credit bid? With the U.S. Supreme Court recently hearing oral arguments in RadLAX Gateway Hotel LLC v. Amalgamated Bank, there may soon be an answer to this question — one of the hottest debates in bankruptcy law in recent years, say Lisa Herrington and Douglas Gooding of Choate Hall & Stewart LLP.
Although much remains uncertain surrounding the Consumer Financial Protection Bureau, businesses should, at a minimum, have a basic understanding of the CFPB’s authority, what it has already done, and what it sets out to do, say Evangeline Heppenstall and Chad Pinson of Baker Botts LLP.
When fully implemented, the JOBS Act may affect private equity and venture capital funds in a number of ways. In particular, due to mandated U.S. Securities and Exchange Commission rulemaking, private funds may be able to raise more capital in less time and may come to regard IPOs as more than just a theoretical exit strategy for their portfolio companies, says Robert Rapp of Calfee Halter & Griswold LLP.