A Texas federal judge said Monday that Proskauer Rose LLP was "frivolous” to appeal a $1.5 billion clawback suit by the receiver for the $7 billion Stanford Ponzi scheme, confirming trial for next week as scheduled but nevertheless carving out a separate trial for any claims by an investor group.
A U.S. Justice Department attorney urged federal jurors Monday to avoid over-complicating the felony trial of four Wilmington Trust executives charged in Delaware with concealing hundreds of millions of dollars in past due commercial loans.
Chicago-based private litigation funder Longford Capital Management LP added former Jenner & Block LLP partner Justin Maleson to its roster last week as a director focused on investment sourcing, due diligence and monitoring of portfolio investments.
A customer of the defunct cryptocurrency exchange Cryptsy does not have to arbitrate his proposed class action against digital currency giant Coinbase Inc. alleging it helped Cryptsy’s CEO launder roughly $8 million in stolen customer funds, the Eleventh Circuit said Monday.
The Office of the Comptroller of the Currency on Monday threw its weight behind Bank of America in urging the Ninth Circuit to review a panel decision that found the National Bank Act does not preempt a California state escrow interest law, arguing that it’s the “rare case that justifies rehearing.”
A Bulgarian telecommunications provider urged a New York federal court Monday not to freeze certain funds related to a complex satellite financing deal while an arbitral tribunal considers a California company's $6.7 million claim against it, saying the motion is a bullying tactic.
Bowles Rice LLP told a federal court on Friday that First American Title Insurance Co. can't prove the timeline at the heart of its argument that the law firm, which helped it during underwriting, owes money for the $41 million settlement of a title policy claim linked to a coal plant project.
Tencent Music is eyeing an initial public offering, Techcombank and its investors are set to reap $922 million in an IPO of its own, and JP Morgan and VTB Capital have been tapped to lead the international offering of Kazakhstan’s largest telecommunications company.
Cadwalader Wickersham & Taft LLP represented Deutsche Bank AG in connection with its $110 million loan to DLA Piper-counseled Oxford Properties Group for the purchase of various commercial condo units at a luxury condo tower on East 57th Street in Manhattan, according to records made public in New York on Monday.
Borrowers accusing Wells Fargo and National General Insurance of adding unneeded auto insurance to car loan bills have told a California federal court that dismissal bids from the pair in the multidistrict litigation “border on frivolous” in the wake of last week’s $1 billion fine for the bank.
Covington & Burling LLP said it has bolstered its technology transactions practice in Silicon Valley with the hire of a former longtime Wilson Sonsini Goodrich & Rosati partner who has advised on intellectual property matters in multiple billion-dollar transactions.
The U.S. Supreme Court on Monday appeared divided on whether U.S. Securities and Exchange Commission administrative law judges are "inferior officers" subject to the appointments clause of the Constitution, and whether a ruling that they are would render them more accountable for their decisions or less politically independent.
The U.S. Supreme Court declined Monday to review the Sentinel Management Group Inc. trustee’s bid to claw back nearly $300 million from the bankrupt investment firm’s creditors, driving the final nail in the dispute’s coffin despite the trustee’s warning that future financial fraud bankruptcies will “become free-for-alls” unless the case was taken up.
A New Jersey federal judge on Friday tossed a lawsuit against Wells Fargo by a former employee alleging she was wrongfully discharged for refusing to take part in opening phony accounts without customers' consent, saying she could not pursue a contract action without the existence of an employment agreement.
BuzzFeed is trying to get more information from overseas banks about whether its publication of a dossier alleging ties between Russia and President Donald Trump had any effects on the business of a Russian billionaire named in the dossier, according to requests for international judicial assistance sent to The Hague by a Florida federal judge.
The U.S. Senate’s recent passage of a measure to scrap Consumer Financial Protection Bureau guidance on auto lending has been framed by supporters as a business-friendly move to rein in a rogue agency, but some experts say this use of the Congressional Review Act could lead to greater uncertainty and more regulation by enforcement.
Administrative law judges at the U.S. Securities and Exchange Commission can no longer count on Solicitor General Noel Francisco to defend them in their upcoming fight before the U.S. Supreme Court, but they may not need him if an attorney invited by the court can convince the justices there was no constitutional foul in the way they were hired.
Six firms are set to guide companies on initial public offerings estimated to surpass $1.3 billion during the week of April 23, steering a technology-dominated lineup led by a projected $542 million offering from electronic signature company DocuSign Inc.
Blaming market conditions, FirstCaribbean International Bank Ltd. pulled an estimated $226 million initial public offering late Thursday, becoming the second company in two days to cancel IPO plans at the last minute.
Federal prosecutors and defense attorneys shipped 173 pages of jury-instruction proposals Friday to a federal judge hearing a criminal case in Delaware against four Wilmington Trust executives accused of hiding hundreds of millions of dollars in bad loans, with the words “past due” appearing 159 times.
The widespread adoption and increasing regulation of virtual currencies and related technologies will give rise to the need for individuals with expertise in traditional fields, such as financial services and tax, say Collin Starkweather, a principal at Charles River Associates, and Izzy Nelken, a member of the Chicago Board Options Exchange's product development committee.
The U.S. Supreme Court is set to consider in Raymond J. Lucia v. SEC whether the U.S. Securities and Exchange Commission’s previous hiring of administrative law judges violated the Constitution. Let's look at two issues on the horizon if the answer is yes, says Daniel Walfish of Walfish & Fissell LLP.
Among the proposed amendments to Rule 23 of the Federal Rules of Civil Procedure, which are scheduled to take effect Dec. 1, are specific requirements related to “front-loading.” They outline the process for seeking preliminary court approval of class action settlements and related notice plans, say Shandarese Garr and Niki Mendoza of Garden City Group LLC.
Despite the powerful incentives to engage in external whistleblowing after Digital Realty, companies should know that their compliance programs can contribute in meaningful ways to whether employees decide to report possible misconduct internally or to the U.S. Securities and Exchange Commission, say attorneys with Paul Hastings LLP.
How can we improve meetings in the legal industry, which tends to evolve with the speed of a tranquilized water buffalo mired in quicksand? Breaking it down to three phases can yield significant benefits, says Nicholas Cheolas of Zelle LLP.
One way law firms differentiate themselves from the competition to attract and retain top talent is through their real estate and workplace strategies. Taking a lead from the hospitality industry can help create a more inviting, welcoming and collaborative workspace environment, says Bella Schiro of Jones Lang LaSalle Inc.
After the D.C. Court of Appeals' recent decision in Andrea Liu v. U.S. Bank, secured lenders may find themselves fighting for the validity of their security interests as a result of condo association foreclosures. However, the court has provided some guidance that should give secured lenders some solace, say attorneys with Bradley Arant Boult Cummings LLP.
In his first year on the U.S. Supreme Court, Justice Neil Gorsuch has proven to be a narrow-minded elitist who consistently votes in favor of corporations and the powerful, acting to roll back protections for workers, consumers, LGBTQ individuals and other marginalized communities, says Elliot Mincberg of People for the American Way.
Resolution of the standing issues raised in the U.S. bribery suit brought by Venezuela’s state-owned oil company PDVSA may have implications not just for this case, but for whether PDVSA may be bound by the Venezuelan government to any future debt restructuring, say Richard Cooper and Boaz Morag of Cleary Gottlieb Steen & Hamilton LLP.
Not all cryptocurrencies are created equal from an economic standpoint, and understanding their differences has crucial implications on their valuation, say economists Simona Mola and An Wang of Bates White LLC.