The Elan Corp. shareholder classes suing now-defunct hedge fund SAC Capital Advisors LP over its insider trading scandal have hired Quinn Emanuel Urquhart & Sullivan LLP in the lead-up to a trial, according to a filing Friday in New York federal court asking to make Quinn Emanuel one of the lead class firms.
Paul Weiss Rifkind Wharton & Garrison LLP's Susanna Buergel fought at the Second Circuit to allow Citigroup to reach a settlement with the U.S. Securities and Exchange Commission without admitting or denying the SEC's allegations, winning a landmark decision that overturned New York's Judge Jed Rakoff and helped her snag a spot as one of Law360's Influential Women in Securities Law.
A New York attorney was disbarred by a state appeals court Thursday for forging a bankruptcy judge’s signature on a phony 2013 order, just weeks after he was sentenced to 16 months in federal prison for the crime.
After a Florida jury decided security company Tyco wasn't liable for the theft of $60 million in Prozac and Zyprexa from an Eli Lilly warehouse, Tyco asked Thursday for attorneys' fees and costs, saying it offered National Union a settlement well before a jury handed over a complete defense verdict.
A New York state judge on Friday ordered former Dewey & LeBoeuf LLP chairman Steven H. Davis to pay Citibank nearly $400,000 for a capital contribution loan he took out to help fund the now-shuttered firm before financial fraud charges were lobbed against him and other executives.
The Second Circuit declined Friday to resurrect Ritchie Capital’s suit over Costco’s alleged involvement in the $3.6 billion Ponzi scheme orchestrated by Tom Petters, saying the hedge fund can’t raise a new argument at the appellate level.
Germany’s Federal Financial Supervisory Authority, or BaFin, on Friday said that it has created a centralized office for whistleblowers to report regulatory violations, calling the protection of those who report corporate wrongdoing a top priority.
A Spanish man who ducked U.S. Securities and Exchange Commission charges that he engaged in insider trading involving a takeover bid for fertilizer giant Potash Corp. was indicted in Illinois federal court on Friday for allegedly lying and hiding trading proceeds during the SEC investigation.
A former official of the Chippewa Cree Tribe of the Rocky Boy's Indian Reservation pled guilty on Thursday to charges related to the tribe’s bribe-tainted purchase of an overpriced asphalt mixer in 2012, making him the latest figure to face a potential prison sentence over the scandal.
A New York federal judge Thursday sentenced a restaurateur to six months in federal prison after he pled guilty to falsifying his tax returns in a federal investigation that also took down his business partner, former U.S. Rep. Michael Grimm.
Pacific Gas & Electric Co. asked a California federal judge Friday to bar dozens of regulator records from its criminal trial over the deadly 2010 San Bruno pipeline blast, saying there’s no witness with the authority to add the documents to the record.
Federal officials launched a felony tax evasion case against a former Washington, D.C., administration official on Thursday in federal court, alleging that he underreported his 2009 income by more than $200,000.
The U.S. Department of Justice has appealed a Massachusetts federal judge’s decision to loosen house arrest to a curfew for the president of the New England Compounding Center, who stands accused of murder in the deadly 2012 meningitis outbreak.
A state judge on Thursday denied Penn State University’s bid for an immediate appeal of a ruling that insurance policies issued in the 1990s barred the school from coverage for settlements paid out to former assistant football coach Jerry Sandusky's sex abuse victims.
A New Jersey federal judge on Thursday upheld the conviction of a disbarred attorney in a conspiracy to dupe individuals into investing in purported ticket resale and real estate ventures and then spend the money on illegal gambling debts and personal expenses, saying there was sufficient evidence to back up the jury's verdict.
Exits from public service are often more prominent than entrances, but a Cleary Gottlieb partner chosen as the new CEO of the Financial Industry Regulatory Authority reversed the trend in June, while the New York white collar market saw an influx of ex-federal prosecutors.
A Texas appellate court on Thursday dismissed a request from Texas Attorney General Ken Paxton, who is facing felony securities fraud charges, to reconsider its June ruling that kept the three charges alive.
Prosecutors seeking to pin fraud and ID theft charges on former Epix chief digital officer Emil Rensing may have to crack his encrypted iPhone in their effort to prove that he billed the movie network for $8 million in allegedly sham contracts, according to a Friday hearing.
A New York immigration lawyer and his wife, the owner of several medical staffing agencies, have forfeited $1 million after admitting to giving false information to U.S. immigration authorities when applying for H1-B visas for foreign nurses, federal prosecutors said on Thursday.
The sister of disgraced ex-Pennsylvania Supreme Court justice Joan Orie Melvin saw a federal judge on Thursday deny a petition seeking an appeal of her conviction on charges over the use of state employees to conduct campaign-related activity.
Criminal pleas, suspension of dollar clearing, and approximately $6 billion in fines against foreign banks provide just some indication of the New York State Department of Financial Services’ increasingly rigorous enforcement. And there are a variety of indications that the agency will continue some of this approach under new chief Maria Vullo, say attorneys with Debevoise & Plimpton LLP.
All too often, law firm financial proposals are too complicated, making them contingent on a host of different assumptions. This makes determining the value of the proposal extremely difficult, and the odds increase dramatically that the proposal will be disregarded, says Dave Sampsell, general counsel of Digi International Inc.
The U.S. Supreme Court's decision in McDonnell represents a continuation of the pullback from unfettered prosecutorial power begun in Skilling relating to “honest services” mail and wire fraud, say Henry Hockeimer and Thomas Burke of Ballard Spahr LLP.
Two bills introduced in the recently ended New York legislative session, if adopted into law, will provide government entities and Freedom of Information Law practitioners with the mooring of predictable and consistent outcomes in FOIL proceedings by changing the standard for determining attorneys’ fee awards, say Matthew McLaughlin and Benjamin Argyle of Venable LLP.
The U.S. Department of Justice has voiced its commitment to prosecuting more criminal environmental cases. In some instances, this effort may result from more investigations or resources committed to bringing such cases. More startling, though, is that other instances reflect a change in prosecutorial discretion, so that more serious criminal cases may be brought in new contexts, say attorneys at Perkins Coie LLP.
Student loan debt can feel overwhelming to new lawyers, especially when just getting started post graduation. Andrew Josuweit, co-founder and CEO of Student Loan Hero Inc., reviews the loan repayment plans available and discusses the best path forward for recent grads shouldering law school debt.
A recent World Bank report enhances the public’s and practitioners’ understanding of the World Bank’s sanctions process and suggests that the bank may be increasingly interested in settling sanctions cases, say Dave Nadler and Adam Proujansky of Blank Rome LLP.
Despite regular news stories detailing the need to update our digital privacy laws and increase our cybersecurity protections, law firms and in-house legal departments should feel confident that utilizing cloud providers with strong privacy and security protections will not breach their ethical obligation to clients, says Bradley Shear of the Law Office of Bradley S. Shear LLC.
Most of the publicity surrounding the Panama Papers has focused on the important role that shell companies have played in the laundering of the proceeds of criminal activity and in tax evasion. Understanding how shell companies can be used to engage in criminal behavior is critical to protecting an organization. Let’s look at some of the most common schemes, say Glenn Pomerantz and Brian Mich of BDO Consulting.
It’s important to first decide what your personal brand is. Are you a crusader? A wry observer? A compassionate witness? Your social media presence doesn’t have to reflect the deepest aspects of your identity — it’s merely an image that you project, says Monica Zent, founder and CEO of Foxwordy Inc.