A trio of insurers urged the First Circuit on Friday to uphold a judgment that UBS AG units can’t tap $20 million in coverage for costs associated with claims that investors lost billions of dollars because UBS manipulated Puerto Rico's municipal debt bond market, saying the bank has impermissibly raised new arguments on appeal.
A Massachusetts federal judge ruled Friday that the state’s entire Earned Sick Time Law is preempted by the federal Railroad Unemployment Insurance Act and cannot be enforced against railroads, expanding an appellate court’s ruling that found only one section covering just a worker’s own sick leave was preempted.
A small electricity reseller in New Hampshire lodged a proposed class action against Eversource Energy and Avangrid Inc. in Massachusetts federal court on Friday, claiming two of the largest power generators in the northeastern United States artificially drove up the wholesale cost of electricity for providers.
Phoenix Insurance Co. launched a federal lawsuit Friday in a bid to shield itself from a more than $10 million claim for allegedly faulty concrete at CSXI’s intermodal rail complex in Worcester, Massachusetts, saying its policy with a contractor involved carries exclusions for some damage or repairs.
A New York federal judge said Friday that Monster Worldwide Inc. does not owe Stone Key Partners LLC about $8.9 million in fees and costs for the boutique investment bank's role in evaluating strategic alternatives because the transactions that the job-search site ultimately completed were either too small or too late.
Kavanagh Advisory Group is reportedly planning to build a four-story Boston Seaport research building, software firm Splunk is reportedly leasing 284,000 square feet in San Jose and Morgan Stanley is said to have loaned $63 million for a recent Chicago-area office complex purchase.
A Massachusetts federal judge sentenced an elderly Texas resident to five years behind bars and denied his bid for acquittal on Wednesday after a jury found him guilty of spending over a decade stealing millions of dollars from his friends and business associates who believed he would invest it for them.
A special master appointed by a Massachusetts federal judge to probe the attorneys' fees arrangements in a $300 million class action against State Street agreed Thursday to modify his report that called for plaintiffs’ counsel to return up to $10 million in fees, averting a ruling on a request to have him taken off the case.
Choate Hall & Stewart LLP has hired Susan Yoon Parker as a partner in the Boston-based firm's transactional groups at a time of expansion, nabbing her after a series of senior in-house roles at major financial institutions.
LendingClub Corp. said in a regulatory filing Wednesday that the Massachusetts attorney general is investigating the San Francisco-based peer-to-peer lending company's advertising and disclosure practices to consumers in that state.
General Electric Co. has urged a Massachusetts federal judge to drop a proposed Employee Retirement Income Security Act class action accusing the company of funneling workers' retirement savings into subpar company-managed investment funds, claiming Wednesday that the suit does not prove the funds were a bad decision for the retirement plan.
Marcus & Auerbach LLC asked a Massachusetts federal judge Wednesday for final approval of a settlement that would guarantee the annuities of 5,000 Aviva PLC customers at a value of up to $41 million and include $4.1 million in attorneys’ fees.
Hedge fund Peaje Investments' $65 million in bonds issued by Puerto Rico's Highways and Transportation Authority are not secured by a lien on toll revenues, the First Circuit has affirmed in a decision that amounts to a victory for the commonwealth and yet another setback for creditors of its various government agencies.
Holland & Knight LLP partner Jenna C. Bigornia has spent her career advising clients on health care compliance issues, including helping close Express Scripts Holding Co.’s recent $3.6 billion purchase of eviCore, earning her a spot as one of five health care attorneys under age 40 honored by Law360 as Rising Stars.
The First Circuit on Wednesday reversed a ruling by the judge presiding over Puerto Rico's restructuring proceedings, finding she is not precluded from lifting automatic stay protections for the island's bankrupt electric utility so that bondholders can pursue legal action to appoint a receiver.
McTigue Law LLP and Beins Axelrod PC made a play on Tuesday to take over as lead counsel to a class of retirement plans after reading in a court filing that Labaton Sucharow LLP had yet to distribute $60 million the class is owed under a 2016 settlement with State Street Corp.
Financial professionals, investor groups and 17 attorneys general asked the U.S. Securities and Exchange Commission to clarify and strengthen its proposal to require brokers to prioritize their clients over themselves, according to public comments submitted before an Aug. 7 deadline.
Tronc is reportedly considering selling the Chicago Tribune to a private equity firm, UnitedHealth inked a tentative deal to buy Genoa Healthcare from Advent International, and Ping An is mulling a deal to buy the Asia division of Prudential PLC.
Blackbird Technologies LLC, a Boston patent litigation company founded by former WilmerHale and Kirkland & Ellis LLP partners, announced on Wednesday it has settled a patent dispute in Delaware federal court with Lenovo over whether the Chinese telecom company infringed a computer display patent.
Foley Hoag LLP said it has added the former head of Ropes & Gray LLP’s finance practice as a partner in its business department and co-chair of the debt finance practice in the firm’s Boston office.
As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.
I clerked for Justice Ruth Bader Ginsburg before the days of RBG bobbleheads and “You Can’t Spell Truth Without Ruth” T-shirts. I had no idea I would become a judge, and I feel lucky every day that I had the chance to learn from her, says California Supreme Court Justice Goodwin Liu.
A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.
In 1993, Ruth Bader Ginsburg was confirmed to the U.S. Supreme Court, and I began my two-year clerkship with her. In her first opinion as a justice, and in dozens since, Justice Ginsburg reminded us how the law needs to operate if equality is to be a reality, says Margo Schlanger, a professor at the University of Michigan Law School.
As a result of waning federal involvement, states have increased their roles in the regulation and litigation of private student loans, and servicers and lenders now confront an amorphous environment policed by a diverse cast. And with student loan defaults rising, state enforcement activities may not be the only increase in litigation the industry sees, say attorneys at Troutman Sanders LLP.
Courts have generally recognized that online contracts can be enforced like any other agreements, but a June decision from the First Circuit invalidates an arbitration clause in an electronic contract simply because the link provided was in the wrong font and color. This decision fundamentally misunderstands the nature of internet commerce, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Retailers and others with consumer websites that support physical sales facilities are being hit with lawsuits claiming that their websites exclude the visually impaired in violation of federal law. But thus far, federal courts have disagreed on whether a website is a “place of public accommodation,” say Alan Behr and Rachel Bandli at Phillips Nizer LLP.
A number of states have recently proposed or passed new laws targeting carried interest loopholes and the cap on state and local tax deductibility. Some of these efforts are taxpayer-friendly and some are expected to impose additional tax burdens, say Jeremy Naylor and Kimberly Ann Condoulis of Proskauer Rose LLP.
The recent emergence of artificial intelligence-based technology has prompted serious concerns about the future integrity of recordings. Attorneys must think critically about standards for authenticating audio and video evidence as well as legislative and regulatory safeguards to discourage pervasive manipulation and forgery, says Jonathan Mraunac of Ogletree Deakins Nash Smoak & Stewart PC.
Connecticut recently passed sales tax legislation requiring out-of-state online retailers to collect Connecticut sales tax. This law, which would have been unconstitutional had the Supreme Court upheld Quill Corp. v. North Dakota, is likely valid after the court eliminated the physical presence standard in South Dakota v. Wayfair Inc., says Marc Finer of Murtha Cullina LLP.