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.
Private equity magnate Lynn Tilton asked a Delaware federal court Thursday to take over a state-court suit filed by three investment funds that are wrestling with her for control of several businesses, saying the funds are trying to undermine her action against them in New York federal court.
The U.S. Supreme Court's decision to overturn a California high court's ruling that 600 nonresidents could pursue claims against Bristol-Myers Squibb over a blood thinner drug heads this year's list of top product liability cases, along with a bankruptcy ruling exposing General Motors to millions of claims not related to its infamous ignition switch.
Units of Wells Fargo and other banks went back to New York state court Friday to ask for guidance on how they, as trustees for a slew of residential mortgage-backed securities trusts, should distribute the $4.5 billion they expect to receive soon from a settlement between JPMorgan and a group of investors in the trusts.
The former CEO of a mobile content company was convicted Friday on eight counts linked to a $100 million scheme to place unauthorized charges on consumers' phone bills, prosecutors announced, yielding a retrial win after a former jury deadlocked.
Bankrupt clothing retailer Aeropostale filed an amended restructuring plan Thursday, more than a year after it was sold to a group of commercial real estate owners and other companies, saying its lenders have agreed to its proposed wind-down and distribution arrangement.