Former Walt Disney Co. employees have urged the Ninth Circuit to revive their suit alleging their pension plan trustees breached a fiduciary duty by not monitoring a mutual fund’s investments in now-embattled Valeant, arguing the lower court incorrectly treated their allegations as stock-drop claims.
Arnold & Porter has hired a veteran international arbitration and antitrust litigation attorney with a background in investor state and commercial contract disputes from Shepherd and Wedderburn LLP, the firm recently announced.
A New York judge on Friday put tough questions to a fashion model who seeks to lead a class action over low pay by three management firms, telling her that her claims may be too vague but also telling the defendants that the suit may make it to discovery.
An Australian judge refused to lift an order barring a Kraft Heinz Co. subsidiary from proceeding with a New York arbitration stemming from an Australian dairy company's alleged misuse of Kraft's peanut butter jar design, saying Friday the parallel proceedings could lead to inconsistent findings.
A Delaware judge on Friday put off until next week ruling on the dismissal of the Chapter 11 case of the bankrupt design and build team for the proposed New York observation wheel, after attorneys for the team said they had restarted negotiations with the project’s developer.
The last week has seen a contract dispute erupt between Russia's Sberbank and a fellow state-controlled bank in Azerbaijan, Greece's Alpha Bank sue more than a dozen Lloyd's syndicates, and underwriters and Lit Securities take on Morgan Stanley.
The Swinomish Indian Tribal Community urged a Washington federal judge Thursday not to permit an appeal of his rulings in favor of the tribe in its suit alleging BNSF Railway Co. shipped crude oil across reservation land in violation of an agreement, saying the railroad is merely trying to prolong the case.
Cardtronics USA Inc., the world's largest ATM operator, on Friday sued gas station operator MTS Enterprises LLC for allegedly refusing to return more than half a million dollars to Cardtronics — money the company said it mistakenly transferred to MTS in an “innocent clerical error."
In a precedential decision on Thursday, the Third Circuit revived a suit over an investment opportunity turned sour that was dismissed after a $3.5 million settlement had already been reached, after new counsel argued that the federal courts did not have jurisdiction over the case.
Trustees for investors who bought toxic residential mortgage-backed securities from Lehman Brothers Holdings Inc. before the 2008 financial crisis got an earful Thursday from a New York bankruptcy judge who fumed that their concerns over how to distribute funds from a $2.4 billion settlement could have been raised months ago.
Acclaimed sculptor Jeff Koons and art dealer Larry Gagosian were sued for more than $39 million by a Wall Street investor and Museum of Modern Art trustee Thursday over claims they failed to deliver three Koons sculptures on time as part of an alleged Ponzi-like scheme.
Illinois-based Bio-Pharm Inc. must face a suit accusing the company of reneging on a drug supply agreement and holding generic medication “hostage” in order to gain a larger share of the profits than originally agreed upon, an Illinois federal judge ruled Thursday.
A New York court ruled Thursday that entertainment giant AMC could add to its arguments to defeat a $280 million suit brought by former "The Walking Dead" showrunner Frank Darabont and others over royalties from the smash hit program.
Citing in part a corporate law doctrine of “efficient breach,” a Delaware vice chancellor on Thursday awarded Leaf Clean Energy Company just $1 in damages in an investment dispute with wind farm developer Invenergy Wind LLC that Leaf said should have triggered a $126 million cash-out.
A technology solutions company asked a California federal court on Wednesday to confirm a $1 million arbitral award issued against its former Pakistani business partner in a dispute over a renegotiated services contract, arguing that the Middle Eastern company never showed up to the arbitration.
A New Jersey federal court has knocked down a hedge fund owner's bid to overturn his convictions on charges of duping two investors into giving him about $4 million and spending most of it on a lavish lifestyle, finding more than sufficient evidence that he acted with fraudulent intent.
A Texas federal judge on Thursday refused to toss Native American Services Corp. counterclaims lobbed at ENGlobal U.S. Inc. in a dispute over a biomass power plant project contract, finding there was conflicting evidence relevant to deciding if either party breached the deal.
The Delaware Chancery Court on Thursday allowed the bulk of claims to proceed in a derivative suit alleging CBS Corp.’s directors wasted corporate assets and unjustly enriched controlling shareholder Sumner Redstone by approving substantial salaries for the incapacitated media mogul.
Calling a New Jersey fitness center’s customer waiver form “one-sided” and “unconscionable,” a New Jersey appellate panel reversed a trial court’s dismissal of a suit filed by a woman who was seriously injured after she says a trainer instructed her to step onto a running treadmill.
A Louisiana federal court partly granted a restaurant developer's bid to toss a real estate investment firm's $3.4 million suit accusing it of lying about the potential profitability of two new Margaritaville restaurants in New Orleans and Minneapolis, letting the developer off the hook on two claims but keeping the other eight.
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.
The American Bar Association continues to oppose legislation that would impose certain European Union and U.K. anti-money laundering requirements on U.S. lawyers. The ABA should further consider its approach to this issue as there is a viable middle ground that protects privileged communications and confidential information while advancing the interests of the legal profession, says Matthew O’Hara of Freeborn & Peters LLP.
American organizations with a European workforce, or presence, should not assume that they can ignore the General Data Protection Regulation in favor of a self-regulatory approach to employee privacy, as is often favored across the U.S., say Sam Rayner and Tom Mintern of Bird & Bird LLP.
M&A contracts often set forth a detailed methodology for arriving at the actual working capital of the business at close. Notably, they almost never contemplate the failure of the buyer to deliver its calculation of working capital by the deadline, say Jordan Weiss and Jenna Newmark of Goodwin Procter LLP.
The impact of millennials has already been felt within the legal community by our eagerness to embrace new technologies. One way that we will have potentially even more impact lies in our willingness to embrace new ways of developing business and financing law, says Michael Perich of Burford Capital LLC.
The FBI raid of the office of President Donald Trump’s personal lawyer set off a firestorm of controversy about the sanctity of the attorney-client privilege, epitomized by Trump's tweet that the "privilege is dead." But attorney-client privilege is never taken lightly — I have battle scars from the times I have sought crime-fraud exceptions, says Genie Harrison of the Genie Harrison Law Firm.
In this series, experts discuss the unique aspects of closing a law firm, and some common symptoms of dysfunctionality in a firm that can be repaired before it's too late.
I am often asked, “When there are one or more partner departures, what can a firm do to prevent this from escalating to a catastrophic level?” The short answer is “nothing.” Law firms need to adopt culture-strengthening lifestyles to prevent defections from occurring in the first place, says Larry Richard of LawyerBrain LLC.
Given the competing public policies of protecting clients’ right to counsel of their choice, lawyer mobility, and the fiduciary duty partners owe to a dissolved firm, it behooves law firms to carefully review their partnership agreements to make sure they adequately spell out what happens in the unfortunate event that the law firm chooses to wind down, say Leslie Corwin and Rachel Sims of Blank Rome LLP.
There has been, of late, significant dispute as to the application of the unfinished business doctrine, particularly with respect to hourly rate matters of now-dissolved large law firms. And the California Supreme Court’s recent decision in Heller Ehrman, like others as to similar points, is highly questionable, says Thomas Rutledge of Stoll Keenon Ogden PLLC.