A Minnesota federal jury on Wednesday found an alternative energy company's CEO guilty on criminal counts including mail and wire fraud after federal authorities accused him of lying to investors in a fraud scheme that cost them between $2.5 million and $7 million.
A junior Dewey & LeBoeuf LLP staffer hit with criminal charges for his alleged role in a scheme to misstate the firm’s financial position serves as a cautionary tale for any BigLaw employees who feel shielded from liability for the actions of their lawyer bosses, experts say.
A former lawyer for the Port Authority of New York and New Jersey pled guilty Friday to charges that he lied when he told the Port Authority that Weil Gotshal & Manges LLP would give the agency a 15 percent discount, prosecutors said.
A Pennsylvania federal judge on Friday doled out an 18-month prison sentence to a Bucks County, Pa., lawyer convicted of conspiracy and fraud charges over mortgage loans to distressed homeowners, in a case in which she cut the government's $14 million loss estimate to about $400,000.
The U.S. Securities and Exchange Commission on Friday barred a former attorney from association with any municipal adviser or nationally recognized statistical rating organization after he was convicted of conspiracy, mail fraud and illegal sales of unregistered securities, holding that it is in the public interest.
A New York federal judge on Friday ordered the arrest of Michael Jackson’s former concert promoter after he filed at least $1.4 billion in liens against Dentons and Loeb & Loeb LLP attorneys as well as Williams Morris Endeavor Entertainment LLC in defiance of a court order.
Rapper Lil Wayne has reportedly been slapped with a $12 million IRS tax lien, joining a long list of entertainers like actors Lindsay Lohan and Wesley Snipes who've butted heads with the agency. Entertainers often have erratic pay schedules that complicate their IRS filings, but with careful guidance they can avoid missed taxes. Here, experts share four tips for handling these matters.
Carmen J. Lawrence, a former director of the U.S. Securities and Exchange Commission’s Northeast region, has left Fried Frank LLP to bolster King & Spalding LLP's government investigations, white collar and securities practices as a partner in its New York office, King & Spalding announced Friday.
The former CEO and chairman of convicted Ponzi schemer Scott Rothstein's law firm, Rothstein Rosenfeldt Adler PA, was charged in Florida federal court Friday with conspiring to make illegal contributions to political campaigns, including U.S. Sen. John McCain's failed 2008 presidential run.
Former Jefferies & Co. Inc. managing director Jesse C. Litvak on Friday became the first individual to be convicted of Troubled Asset Relief Program fraud when a Connecticut jury found him guilty of a scheme to defraud customers on residential mortgage-backed securities trades.
The Backstreet Boys have requested additional time to resolve a dispute with their former Ponzi-scheming manager's bankruptcy trustee over $3.5 million in legal fees, seeking to push back a scheduled March 24 hearing on the matter.
The U.S. Securities and Exchange Commission filed a lawsuit Friday in Georgia federal court accusing a former high-ranking executive at children's clothing company Carter's Inc. of insider trading and tipping violations.
A male in-house counsel once told me I had not been "nice" to him when I approached him about a business opportunity and would therefore not get the business. To add insult to injury, one of my male partners told me I should be flattered by the interest paid to me by the in-house counsel, says Paulette Brown, chief diversity officer at Edwards Wildman Palmer LLP.
Several people have told me that they had a lot of trepidation when they found out they would be working for a woman. To be effective, you need to be able to eliminate or address the conscious or unconscious bias colleagues may have about having a female boss, says Nancy Mitchell, chairwoman of Greenberg Traurig LLP's New York business reorganization and financial restructuring practice.
The U.S. has signed agreements with Finland and Chile — and is near a deal with Luxembourg — under an information-sharing law designed to combat offshore tax evasion, a U.S. Department of the Treasury official told Law360 on Friday.
A New York federal judge on Friday refused to dismiss an indictment against Paul Ceglia, who is charged with falsely alleging that Facebook founder Mark Zuckerberg contractually owes him a 50 percent stake in the social media giant.
Employers that hired two of the former Dewey & LeBoeuf LLP executives charged Thursday with misrepresenting the bankrupt firm’s finances aren’t likely to face liability related to the criminal charges, experts told Law360 on Thursday, but they could very well suffer damage to their reputations despite their efforts to mitigate the harm.
Criminal allegations unveiled Thursday that Dewey & LeBoeuf LLP executives had systematically cooked their books over several years to hide a dire financial position will likely send some BigLaw leaders running to the ledgers to ensure their own accounting can withstand the closest scrutiny, experts told Law360.
Thursday’s criminal charges against the former top brass of the now-defunct Dewey & LeBoeuf LLP are music to the ears of parties bent on clawing back certain executives’ compensation and pursuing new claims related to Dewey’s spectacular downfall, experts say.
The unprecedented accusation that the former leadership at Dewey & LeBoeuf LLP lied about the now-defunct firm’s financial health could yield a relatively basic accounting fraud trial, but the defendants could implement some not-so-basic strategies to emerge victorious.
Cloud users must know how to use the cloud responsibly to prevent later difficulties with document production. When negotiating a cloud service agreement, users should look for certain services that will prove useful when responding to discovery requests, such as comprehensive search options, instant suspension of the auto-delete function, and preservation of metadata and embedded data, say attorneys with Sidley Austin LLP.
The recent bribery case involving Kurt Hammarskjold, a former PetroTiger Ltd. CEO, underscores the U.S. Department of Justice’s continued commitment to prosecuting individuals for Foreign Corrupt Practices Act-related offenses. In fact, 2013 saw the highest number of individual enforcement actions since 2010, and the Hammarskjold prosecution and other recent actions indicate that the DOJ will continue this upward trend, say attorneys with Norton Rose Fulbright.
While there was only one U.S. Department of Justice Foreign Corrupt Practices Act opinion procedure release in 2013, last year's enforcement actions, and remarks made by DOJ and U.S. Securities and Exchange Commission officials, provided a fair amount of guidance on various compliance topics — including travel and entertainment, gifts, charitable donations, third-party due diligence, self-reporting, cooperation and remediation, and commercial bribery, say attorneys with Shearman & Sterling LLP.
Ideally, implementing the type of Foreign Corrupt Practices Act review suggested by U.S. regulators in cross-border mergers and acquisitions will uncover any evidence of corruption before a deal is inked. But even if it does not, the exercise can provide a range of significant benefits, not the least of which is identifying “red flags” that can be addressed in deal documents and incorporated into the buyer’s integration plans, say attorneys with Dentons.
In stark contrast to the changing environment for the majority of lawyers today, the evolution for the general counsel is driven less by necessity than by opportunity. Today’s GC may touch every aspect of his or her organization to solve challenges and propel the company forward, keeping the GC far ahead of what is expected of the average lawyer, says James Merklinger, vice president and general counsel of the Association of Corporate Counsel.
Staying private antitrust lawsuits in deference to criminal proceedings can unduly interfere with the just and efficient adjudication of private antitrust claims. There are a number of narrow limitations that can be placed on discovery to both preserve the integrity of a government investigation while allowing private plaintiffs to effectively prosecute their cases, say Kellie Lerner and Elizabeth Friedman of Robins Kaplan Miller & Ciresi LLP.
The trustee of bankrupt agribusiness giant SK Foods LP recently completed the Herculean task of recovering approximately $50 million from Australia for the company’s creditors in a saga that involved one of the largest Chapter 11 cases in the Eastern District of California, criminal charges, and a last-minute attempt by Australian authorities to confiscate assets. Among other things, the trustee's ability to establish personal jurisdiction in the U.S. over asset protection vehicles proved invaluable, say attorneys with Schnader Harrison Segal & Lewis LLP.
With the recent decision in U.S. v. Bishop, the Fourth Circuit joined seven sister circuits in holding that proof of general knowledge of the illegality of the conduct is sufficient to convict a person of a willful violation of U.S. export laws. The zeal with which the government has methodically marched through the federal courts to establish a lower standard of intent underscores its intent to vigorously pursue criminal cases against individuals and companies, say attorneys with Arent Fox LLP.
In its recent decision in U.S. Securities and Exchange Commission v. Contorinis, the Second Circuit continued its expansive reading of civil liability for insider trading, which will facilitate the SEC’s pursuit of large civil recoveries beyond the tippee’s personal benefit from any insider trading, say Joel Haims and Kayvan Sadeghi of Morrison & Foerster LLP.
The recently closed comment period for the proposed Federal Rules of Civil Procedure amendments generated passionate antipodal responses over discovery rules that appear to benefit large corporate litigants at the expense of individual plaintiffs and civil rights groups. The nature and intensity of the response should lead the committee to reconsider the overall fairness of the proposed discovery amendments, says Henry Kelston of Milberg LLP.