A Manhattan federal judge on Friday denied a request by a Russian lawyer whose meeting with Donald Trump Jr. sparked controversy to be temporarily admitted to the U.S. to take part in legal proceedings related to a disputed $6 million settlement in a cloak-and-dagger tax fraud case.
Former JPMorgan Chase & Co. private wealth manager Jennifer Sharkey told a Manhattan jury Monday that she is owed least $660,000 for being fired after raising concerns about a rich client, but the $350 billion megabank painted Sharkey as a liar in search of a payday.
A change in administration opens revolving doors for BigLaw, allowing some attorneys to transition to a government gig while giving others the chance to move into the private sector. Here are the firms and attorneys cycling through some prominent executive branch positions.
U.K. real estate investment trust Redefine International will sell a retail portfolio for €205 million to German investment company Patrizia Immobilien AG as Redefine looks to cash in on the strong German market, the firm said Monday.
Corporations and their attorneys can be some of the country’s most ardent deregulation enthusiasts, but many are struggling to navigate uncertainty clouding the Trump administration’s efforts to pare down the rulebook.
As Robert Mueller’s investigation of the Trump campaign draws a slew of corporate attorneys to the scene, here’s a look at the legal firepower representing figures in the special counsel’s inquiry.
Last November’s Election Day triumph for Donald Trump seemed likely to bring about, as one consultant put it, a “legal industry on steroids.” A year on, though, the picture for law firms is decidedly mixed.
Several banks ensnared in multidistrict litigation over allegations they conspired to fix the London Interbank Offered Rate benchmark urged a New York federal judge on Friday to deny a class certification bid from a group of over-the-counter investors, arguing that the new representative shows why no class should be certified.
The Abu Dhabi National Oil Company on Monday announced a $3 billion bond to fund its growth plans, marking the United Arab Emirates oil giant’s first international debt issue that it says is one of the largest nonsovereign bond offerings in Middle East history.
A class of investors who sued JPMorgan Chase & Co. over the performance of several stable value funds that held mortgage-backed securities during the financial crisis told a federal judge in Manhattan on Friday that they’ve reached a $75 million settlement with the bank.
A Minnesota federal judge on Friday blocked the U.S. Department of Labor from enforcing the anti-arbitration provision of its fiduciary rule for retirement advisers against Thrivent Financial, saying the provision will harm the company even if, as the DOL plans, it never takes effect.
The New Jersey Casino Reinvestment Development Authority is reportedly eyeing a 59,000-square-foot Atlantic City building, Peterson Management is said to have leased 40,000 square feet in Manhattan, and real estate investment trust HCP has reportedly sold a Florida medical office building for $11.25 million.
Federal Reserve Bank of New York President William Dudley on Monday said he intends to step down from his post by the middle of next year, marking another early departure among Obama-era U.S. financial regulators.
The Federal Home Loan Bank of Boston on Thursday re-animated a suit alleging Moody’s lied about the quality of $5.7 billion in risky mortgage-backed securities, landing its long-running suit in New York state court after a winding path that took it to the highest federal court and back again.
A defense attorney in the fraud trial of entrepreneur and “Twilight” financier Omar Amanat and former KIT Digital Inc. CEO Kaleil Isaza Tuzman on Friday accused a high-ranking U.S. Department of Justice lawyer of providing legal advice to a cooperating witness and giving him a referral to a relative’s law firm.
The government of Puerto Rico is pushing back against the installation of an emergency manager to run the island’s beleaguered electric utility, saying Friday that the federal board overseeing the territory’s finances is attempting to overstep the powers it was granted by Congress.
An investor in Men’s Wearhouse Inc. whose effort to make several hedge funds disgorge their short-swing profits was summarily rejected by a Second Circuit panel asked the full court on Thursday to reconsider, saying the panel drew the wrong lesson from a Supreme Court ruling.
The House of Representatives has passed a pair of bills aimed at making initial public offerings easier while also expanding the population eligible to invest in pre-IPO companies, moves that attorneys say could modestly benefit capital raising if they pass the Senate.
A California federal judge Thursday granted class certification in an Employee Retirement Income Security Act suit alleging Northrop Grumman and several officers breached their fiduciary duty to more than 100,000 participants in the company’s pension program by charging excessive fees.
A real estate investment trust and its partners told a Delaware Chancery judge on Friday that a putative class action brought by two members over an alleged $1 billion Ponzi scheme should be halted in favor of a series of actions over similar claims brought in Texas federal court.
China is increasingly emerging as an engaged United States investor and business partner, though some regulatory and geopolitical realities have tempered the Chinese enthusiasm. Anyone involved with Chinese investments in the U.S. should be prepared for uncertainty as a result of both China's tightened outbound approval regime and heightened scrutiny from the U.S. side, says Kai Wang of Carlsmith Ball LLP.
Because capital acquisition brokers may act as placement agents in the sale of certain securities, the U.S. Securities and Exchange Commission is now proposing to expand its pay-to-play rules to include CABs. The rule may also encourage investment advisers to take certain steps, says Zachary Parks of Covington & Burling LLP.
If conducted properly, depositions can be a powerful tool. At times, though, opposing counsel employ tactics to impede the examiner’s ability to obtain unfiltered, proper testimony from the deponent. By knowing and effectively using applicable rules and case law, however, deposing attorneys can take specific steps to combat these tactics, say attorneys with Ogletree Deakins Nash Smoak & Stewart PC.
The mutual fund industry has expressed concerns about troves of new data being filed on EDGAR starting in June 2018 as part of the U.S. Securities and Exchange Commission’s new reporting requirements. The recent disclosure of an SEC breach perfectly illustrates those concerns and adds to the clamor to delay or revise the requirements, says Jeanette Turner, managing director and chief regulatory officer at Advise Technologies.
Chairman Jay Clayton of the U.S. Securities and Exchange Commission recently made the surprising announcement that the SEC’s EDGAR database had been hacked. The chairman’s statement and subsequent testimony leave a number of critical questions unanswered, says Scott Kimpel of Hunton & Williams LLP.
Litigator Roberta Walburn’s rollicking new book, "Miles Lord: The Maverick Judge Who Brought Corporate America to Justice," is a really good read — a fascinating story about a life lived in the heat of battle and usually at the edge of what might have been considered appropriate for a federal judge, says Chief U.S. District Judge John Tunheim of the District of Minnesota.
For as long as e-discovery lawyers have been using technology assisted review, a belief has persisted that it cannot be used economically or effectively in small cases. But TAR can be highly effective in small cases, typically reducing the time and cost of a review project by 60 to 80 percent, say John Tredennick, Thomas Gricks III and Andrew Bye of Catalyst Repository Systems LLC.
Financial Crisis Anniversary
The Financial Stability Oversight Council, created in the wake of the global financial crisis that caused so much human and economic damage over the last decade, has been a central point of controversy about the Dodd-Frank Act. But time will prove that the core purposes and duties of the council are important, say Amias Gerety and David Portilla, both formerly of the FSOC.
A series of recent lawsuits that focus on universities’ Section 403(b) retirement plans are similar to the 401(k) plan excessive fee cases against for-profit companies that have been common over the past decade. If any of these new suits are successful, then retirement plans offered by a host of nonprofit entities may be ripe candidates for legal challenges as well, say Michael Graham and Charles Stevens of Michael Best & Friedrich LLP.
The prosecution of Martin Shkreli reveals some important lessons about the Fourth Amendment protections against search and seizure in the digital corporate context: Physical access to documents on a server may trump actual ownership of records, say Claire Johnson and Douglas Young of Farella Braun & Martel LLP.