New York Law360 provides breaking news and analysis on legal and regulatory issues in New York state. Coverage includes high-stakes litigation, policy developments, and corporate deals affecting the state.
New York's highest court on Tuesday upheld a lower court's ruling that an AIG unit is liable for $1.3 million in excess damages plus certain interest on a construction worker's $2.7 million personal injury win, saying the excess insurer is not liable for interest that would have been paid by the primary insurer under a now-voided policy.
A New York City real estate developer that destroyed a famed graffiti space known as 5Pointz has agreed to pay attorneys at Eisenberg & Baum LLP, who are representing the artists behind the space, more than $2 million in attorney fees, according to a joint stipulation filed Tuesday.
The Second Circuit has overturned a decision in a derivative securities suit ordering a hedge fund with a stake in 1-800-Flowers to cough up the $4.9 million it earned buying and selling company stock, finding that questions remain over who controls the shares in the flower delivery retailer.
Lyft faced tough questioning from a New York state appeals panel on Tuesday in its bid to set aside a New York City regulation that created a minimum wage for app-based drivers, with one justice suggesting the city and Lyft merely had different goals for the regulation.
A New York federal judge wasn't happy with the amount of hours or law firms on the attorney fee bill she received in the wake of a $187 million deal with JPMorgan and other major financial institutions over claims of interbank rate rigging, but on Tuesday she granted $45 million in fees anyway.