The U.S. Supreme Court on Tuesday said it won't review a Third Circuit decision that allowed the 2015 confirmation of a troubled laboratory company's Chapter 11 plan over opposition from creditors that argued the plan unconstitutionally released key parties from damage claims without creditor consent.
Investors accusing Bank of America, Deutsche Bank and HSBC of rigging the market for bonds issued by foreign governments are urging a New York federal court to approve a proposed allocation of the $95.5 million in settlements reached with the banks over the proposed class action.
Texas Capital and Independent Bank Group have decided to terminate their planned $3.07 billion stock merger due to market turmoil caused by the coronavirus, the companies said Tuesday, marking the latest in a series of significant transactions to be called off because of the pandemic.
They've represented consumers, companies, and government entities, taken on Goliaths in industries ranging from aerospace to health care to finance to technology to sports, and won landmark victories on behalf of clients across the country.
A group of law professors and former SEC officials said the Second Circuit's recent split-panel ruling against Goldman Sachs in a heavily watched class certification fight creates risks to public companies that are now exacerbated by the COVID-19 crisis.
A Houston-area law firm and one of its attorneys have been hit with a state court lawsuit seeking more than $100 million in damages by a member of a prominent Texas family alleging the firm tricked his ailing father into giving them power over his business empire.
Curtis Mallet-Prevost Colt & Mosle LLP has added a pair of attorneys with experience in legal actions involving global brands such as Gucci and Parmalat to its Milan office, along with a new tax counsel.
The Consumer Financial Protection Bureau on Friday unveiled a framework to help banks get no-action relief for small-dollar loans they're considering offering, outlining certain "guardrails" that would need to be included in such products to meet with the agency's approval.
Two purported student debt servicers and their executives will pay $5.5 million to end claims they duped student borrowers into paying for loan services that should have been free, New York's attorney general said Friday.
The U.S. Securities and Exchange Commission is clamping down on investment advisers and broker-dealers with wide-ranging initiatives and settlements that highlight a "hyperfocus" on disclosure issues, showing the regulator is determined to improve the ways firms communicate with clients, attorneys say.
A three-member Financial Industry Regulatory Authority panel chucked an enforcement action accusing a brokerage firm and its principals of fraudulently selling $12.5 million in promissory notes to prop up a struggling real estate investment business, finding on Thursday that the regulator was short on evidence.
The U.S. Consumer Financial Protection Bureau can join forces with Florida's state attorney general and financial regulator to fight a single lawsuit accusing mortgage servicer Ocwen Financial of pervasive misconduct, a Florida federal judge has ruled.
A New Jersey federal judge on Friday refused to release an ex-president of a staffing agency from prison due to the coronavirus pandemic as he serves time for defrauding a lender out of more than $400,000, saying he didn't follow the requisite administrative process through the Bureau of Prisons.
The past week in London has seen a Puerto Rican lender sue Venezuela's state-run oil company months after inking a settlement over suspicious payments, a Dutch tulip grower take Maersk into court over a cargo shipment and Wilmington Trust face down commercial fraud claims. Here, Law360 looks at those and other new claims in the U.K.
Lewis Brisbois has added a new partner in its Fort Lauderdale, Florida, office who brings extensive experience handling a variety of commercial transactions and regulatory matters, especially involving the maritime and cruise industries.
In this edition of Coronavirus Q&A, one of Dechert's global real estate finance leaders discussed the ways COVID-19 is impacting the commercial mortgage-backed securities market and likened the current pandemic to the unknowns faced by early explorers and cartographers.
The coronavirus outbreak has shaken up how initial public offerings are done in ways that could last beyond the pandemic itself, including a shift to virtual roadshows that deal advisers say provide certain efficiencies that companies may enact permanently. Here, Law360 takes a look at three ways the pandemic is altering how IPOs are practiced.
Cannabis dispensary operator Tryke Management has put in a bid for attorney fees after an Arizona federal judge awarded the company a judgment of nearly $1.8 million in its fight with embattled cannabis industry credit card processor Linx Card Inc.
Exide Technologies LLC's second Chapter 11 in the past decade is off to a contentious start as a Delaware judge Thursday gave his nod for Exide to use lender cash collateral and up to $40 million in debtor-in-possession financing, despite strong opposition from certain secured lenders.
A former Goldman Sachs banker who copped to sharing corporate secrets with a supervisor's acquaintance told a New York federal judge Wednesday that given the pandemic, he should be sentenced to supervised release and a year of community service.
Cannabis businesses in Los Angeles that are used to paying their city taxes in cash can now pay through online accounts, through a banking agent working with the city to help the underbanked industry during the COVID-19 lockdowns.
An auto parts magnate has urged a Michigan federal court to declare his ownership of assets held in his personal revocable trust in a move that seeks to quash JPMorgan Chase's attempts to collect a $425 million judgment in a long-running bankruptcy debt dispute.
An Illinois federal judge refused Wednesday to dismiss indictments against two former Merrill Lynch traders accused of a yearslong scheme to spoof the precious metals futures market, saying prosecutors had adequately argued the traders intended to manipulate the market.
Manhattan federal prosecutors brought fraud and false statements charges Thursday against a Chinese national over a purported scheme to get more than $20 million in government-backed loans earmarked for small businesses adversely affected by the coronavirus pandemic.
A Boston law firm targeted by an email scam can't hold First Republic Bank responsible for processing a $337,000 counterfeit check and subsequent wire transfers because the bank was simply following the firm's directions, the Massachusetts intermediate-level appeals court ruled Wednesday.
For professors, trainers, lawyers, students and businesses grappling with the unexpected challenges of distance learning, trial attorney and teacher James Wagstaffe offers best practices for real-time online instruction.
To chart a sustainable path for the decade or more that will be required for full economic recovery from the global pandemic, the U.S. and other G-20 nations need a course correction in trade policy, say Robert Holleyman and Himamauli Das at C&M International.
Mortgage defaults and losses resulting from COVID-19 should be more limited than during the Great Recession, but nonetheless litigation may arise over mortgage servicing and origination practices, say members of Analysis Group.
Recent changes to term sheets for the Federal Reserve's Main Street Lending Program, allowing borrowers to utilize adjusted earnings before interest, taxes, depreciation and amortization, will increase the available loan amount and qualify more borrowers, says Keith Durkin at BakerHostetler.
Business disputes are not a priority for courts right now, so companies looking to protect their trade secrets or rights to contractual performance must tailor their requests for emergency relief to the unique circumstances of this time, says Shannon Armstrong at Holland & Knight.
There may be precious little notice before the legal community ramps up, so it's important to have return-to-work plans that address the unique challenges law firms will face in bringing employees back to offices, say attorneys Daniel Gerber, Barbara O'Connell and Richard Tucker.
Creating a specific regulatory framework for income share agreements would help distinguish them from traditional student loans, and allow for better informed decision-making and consumer protections, say Alissa Gardenswartz and Tony Arias at Brownstein Hyatt.
The U.S. Securities and Exchange Commission's recent charge against a former Goldman Sachs U.K. executive over his role in a bribery scheme illustrates the importance of Foreign Corrupt Practices Act diligence that goes beyond representations of employees and others with an interest in a transaction, say John Murray and Shrutih Tewarie at Foley Hoag.
When faced with potential disputes over funding obligations in deals agreed to — but not closed — before the pandemic, parties should carefully review key lending agreement provisions, such as force majeure and conditions precedent, say Andrew Kratenstein and Chelsea Cosillos at McDermott.
To help prepare my students to navigate local practice, I wrote a set of rules for the classroom that mimics those they might encounter from a local judge or court, says Michael Zuckerman at Northwestern Pritzker School of Law.
While many contract disputes due to COVID-19 are sure to raise novel issues in litigation and arbitration, companies across industries can benefit from understanding certain commonalities — related not only to affirmative defenses and burdens of proof, but also to relevant evidence, expert testimony and winning strategies, says James Ferguson at Mayer Brown.
Creditors seeking to enforce judgments and arbitration awards across borders have benefited from lengthened civil litigation timelines as well as from the unique opportunities in intelligence gathering made possible by the widespread shift to remote business function, say Daniel Pascucci and Joseph Dunn at Mintz.
General counsel may be tempted to resort to matter-level requests for proposals in the wake of the COVID-19 economic crisis, but alternatively, a singular, global RFP process — to select a panel of law firms for all legal needs — can reduce legal spend while fostering long-term relationships, say Vivek Hatti, formerly at Avis Budget Group, and Jaron Luttich at Element Standard.
The first three criminal actions against individuals for alleged schemes to defraud the Paycheck Protection Program send a strong message about the rigor with which the U.S. Department of Justice will proceed in order to root out abuse of the CARES Act relief programs, say attorneys at Winston & Strawn.
Maryland's digital advertising tax contains some of the same constitutional infirmities as Washington's banking surtax — which was ruled unconstitutional by a Washington state court last week — and will spawn similar litigation if the Maryland Legislature passes it over the governor's veto, say attorneys at Eversheds Sutherland.