Kirkland & Ellis LLP bolstered its litigation practice in New York with the hire of a complex securities and antitrust expert who previously served as Goldman Sachs Group Inc.'s associate general counsel, in a coup for the Chicago-based law firm that announced the hire Wednesday.
The Fifth Circuit on Wednesday denied a bid by Chesapeake Energy Corp. to overturn a $19.8 million judgment against it for backing out of a deal to acquire oil and gas leases from Peak Energy Corp. in 2008.
A Florida appeals court has dealt a major blow to insurers arguing that policyholders must win a breach of contract claim before they can bring bad faith actions, ruling last week that insureds that score a favorable appraisal award in a property damage dispute can pursue bad faith litigation.
The Obama administration said Wednesday that the president will likely veto a bill aimed at blocking $55 billion in defense budget cuts as part of a $1.2 trillion sequester, saying it contains no compromises and favors wealthy Americans.
A New York magistrate judge recommended Wednesday that Santander Holdings USA Inc. pay Bank of New York Mellon Trust Co. NA more than $308 million over Santander's 2009 takeover of Sovereign Bancorp Inc., which should have raised interest rates on bonds BNY Mellon held.
The U.S. House of Representatives on Wednesday approved a five-year reauthorization of the controversial amendment to the Foreign Intelligence Surveillance Act Amendments that lets federal agencies intercept international communications without individual warrants.
A New York federal judge on Monday altered part of a decision that vindicated three J. Ezra Merkin-owned hedge funds from allegations they had negligently funneled billions of investor dollars to perpetuate Bernard L. Madoff's Ponzi scheme, finding certain claims aren't preempted by the state's Martin Act.
A Texas federal judge said Wednesday that the America Invents Act couldn't be used to kill a multidefendant patent case filed on the eve of the law's effective date, overruling Hyatt Hotels Corp.'s protest that the complaint was just a placeholder used to avoid the new statute.
Trustees for MF Global Holdings Ltd. and its broker-dealer argued in New York bankruptcy court Wednesday that the companies' mass layoffs did not run afoul of the Worker Adjustment and Retraining Notification Act and that two putative class actions alleging so should be dismissed.
A New Jersey judge on Wednesday tossed Fairfax Financial Holdings Ltd.'s suit accusing Exis Capital Management Inc. and Morgan Keegan & Co. of participating in a disinformation campaign that cost it billions, finding the harm claimed by Fairfax is not recoverable under state law.
The U.S. Office of Special Counsel announced Wednesday that it has found Secretary of Health and Human Services Kathleen Sebelius violated the Hatch Act, which prohibits partisan speech by federal employees, when she endorsed President Barack Obama for re-election during a Feb. 25 speech.
A federal judge on Tuesday shot down NCR Corp.’s attempt to force Appleton Papers Inc. to immediately cough up more than $15 million to help clean up a Wisconsin Superfund site, saying it’s unclear how much Appleton actually owes.
A Pennsylvania federal judge overseeing sweeping multidistrict asbestos litigation against dozens of defendants including ConocoPhillips Inc. granted a motion Wednesday to reverse his dismissal in August of nearly 1,700 cases brought by sailors over alleged lung scarring, ruling that the cases weren’t properly vetted.
A Willkie Farr & Gallagher LLP real estate attorney with a subspecialty in advising private equity funds and banks has joined Bryan Cave LLP as a partner in its New York office, his new firm said Wednesday.
A California federal judge on Tuesday refused to dismiss criminal charges that Eagle Eyes Traffic Industrial Co. Ltd. and E-Lite Automotive Inc. conspired to fix prices for automobile lights, rejecting the argument that the indictment was deficient and failed to point out any significant anti-competitive effects.
Hunton & Williams LLP has lured a Consumer Financial Protection Bureau enforcement attorney who helped build the new agency's procedures over to the bankruptcy and creditors' rights practice in its Washington office, the firm said Monday.
Peregrine Financial Inc.'s bankruptcy trustee agreed to take more time Wednesday to consult with the U.S. Commodity Futures Trading Commission on how to test the validity of the firm's financial records before a judge decides whether to approve his plan to return $123 million to the collapsed firm's customers.
A former Bryan Cave LLP lawyer could not have saved New York businessman Herbert Feinberg's claims against an accountant after Feinberg came to believe he was shafted in an apparel company acquisition, a state appeals court ruled Tuesday, overturning a $10.6 million malpractice judgment.
The U.S. International Trade Commission will take a second look at a judge's determination that LG Electronics Inc. sold televisions and other products that infringed a light-emitting diode patent held by Siemens AG unit Osram GmbH, according to a preview of Thursday's Federal Register.
The former controller of Bernard L. Madoff Investment Securities LLC will plead guilty in New York federal court Thursday to charges he falsified records as part of the infamous multibillion-dollar Ponzi scheme, prosecutors said Tuesday.
A typical means to “monetize” a company's otherwise intangible IP asset — such as a patent — is by way of licensing. The introduction of a new IP-related exchange, which aims to eliminate licensing inefficiencies while facilitating investment in and risk management of IP-related assets, undoubtedly will shake up this landscape, say attorneys with Gibbons PC.
While the U.S. Supreme Court's decision in Sackett v. U.S. Environmental Protection Agency may have restricted the EPA’s enforcement reach under the Clean Water Act, it may have provided the EPA with a procedural tool in its attempt to regulate hydraulic fracturing under the Safe Drinking Water Act, says Earl Hagstrom of Sedgwick LLP.
The unnecessarily complex crowdfunding provisions of the JOBS Act stand in stark contrast to the relaxed public solicitation/advertising rules now permitted for Rule 506 private offerings to accredited investors, the new relaxed filing/governance standards for "emerging growth companies" with miniscule $1 billion in annual revenues, and the increase in the "of record" shareholders before registration with the U.S. Securities and Exchange Commission is required, says Thomas Sherman of Locke Lord LLP.
In the life science community particularly, claims directed to inventions in diagnostics and personalized medicine will likely face serious challenges under the U.S. Supreme Court's decision in Mayo Collaborative Services v. Prometheus Laboratories Inc., say Ling Zhong and Paul Prestia of RatnerPrestia.
While H.R. 4016 is more evidence that some in the House and the Obama administration are serious about taxing income from carried interests as services income, the bill makes no attempt to carve out half the gain from assets held for more than five years that was included in the Senate version as an accommodation to the venture capital industry, which made a late game play during the last go around on this topic, say Steven Bortnick and Timothy Leska of Pepper Hamilton LLP.
The most immediate consequence of the California Supreme Court’s ruling on redevelopment agencies is that each of the more than 400 RDAs will cease to exist as of Feb. 1, 2012, as will their special powers to receive property taxes, subsidize economic development projects, assemble land for redevelopment, address environmental liabilities and adopt land use regulations, say attorneys with Paul Hastings LLP.
The Volcker Rule has already elicited substantial comment and concern from the U.S. Chamber of Commerce, certain Democratic members of the House of Representatives, and industry groups like the Securities Industry and Financial Markets Association, which has called for an extended comment period. Delayed implementation of the rule certainly seems possible, says Benjamin Coulter of Burr & Forman LLP.
Barring intervention by the U.S. Supreme Court or Congress, the Federal Circuit's landmark decision in GPX International Tire Corp. v. U.S. will halt or overturn scores of countervailing duty proceedings involving China, profoundly impacting the administration of trade remedies in the U.S., say Jill Caiazzo and Brenda Jacobs of Sidley Austin LLP.
As we enter 2012, we wanted to look back on the top 10 trademark events of 2011 — some decisions that drew considerable news coverage but were not all that influential, some impressive judgments, a massive shakedown of trademark owners and one high-stakes litigation that is likely to be one of the biggest decisions of 2012, say Scott Johnston and Gregory Golla of Merchant & Gould.
The U.S. Senate will soon consider the enhancement of sentences in economic espionage and trade secret cases. While leaving the merits of the proposed amendments to policymakers, we seek to provide a fuller understanding of the sentencing process in both types of cases, including a discussion of the unique challenges presented and a review of some of the sentences imposed, say Mark Krotoski and Richard Scott of the U.S. Department of Justice.