The U.S. Securities and Exchange Commission on Friday hit unknown traders of private equity firm Fortress Investment Group LLC securities with a lawsuit alleging they reaped about $3.6 million in profits based on inside information about Japanese telecommunications and internet giant SoftBank Group Corp.'s impending $3.3 billion acquisition of Fortress.
The husband and wife owners of an iconic Jersey Shore eatery received respective prison and probation terms on Friday for committing tax evasion in other crimes against the Internal Revenue Service during their rise and fall at Manco & Manco Pizza.
A Florida ex-convict cooperating with prosecutors in the Manhattan bitcoin-exchange bribery and fraud trial of New Jersey pastor Trevon Gross and tech expert Yuri Lebedev conceded Friday that he tried to sell information and threatened Coin.mx founder Anthony Murgio before pleading guilty.
Former employees of religious hospital systems have urged the U.S. Supreme Court to uphold circuit court rulings that their former employers are subject to the Employee Retirement Income Security Act, arguing that the businesses are run as hospitals not churches, so they don’t qualify for a religious exemption.
Wind-up plans for remnants of bankrupt chemical maker Vertellus Specialties Inc. won confirmation from a Delaware bankruptcy judge on Friday, bringing the end closer for a Chapter 11 that opened with more than $650 million in financial liabilities and serious pollution burdens.
The union representing Atlantic City firefighters has urged a New Jersey state court to toss a federal subpoena issued to the city's mayor by state officials in the union's lawsuit over proposed layoffs and contract changes, saying the document is invalid since the case has been remanded from federal court.
The New Jersey tax court has found that buses an Altria subsidiary acquired in a leaseback arrangement with New Jersey Transit do not belong to the company, and thus the state cannot seek tax from the company for rental income.
The New Jersey Pinelands Commission on Friday approved South Jersey Gas’ proposal for a 21.6-mile natural gas pipeline that would traverse the state’s environmentally sensitive Pine Barrens despite questions over whether the plan meets the objectives of the region’s management goals.
The distribution trustee in Trump Entertainment Resorts Inc.’s Chapter 11 case told a Delaware bankruptcy court on Thursday that he needs more time to decide whether to object to what’s left of the $1.9 billion in general unsecured claims asserted against the former Atlantic City, New Jersey, casino operator.
Medtronic Inc. has been slapped with a lawsuit in New Jersey state court by a woman alleging that a company representative did not properly consult a doctor on the insertion of a device to treat urological issues, saying she was forced to undergo surgery to fix the improper placement.
The Third Circuit affirmed on Thursday a ruling that found Chartis Property Casualty Co. didn’t intentionally push out a prospective buyer during insurance claim negotiations after a Philadelphia area mansion burned down, saying Chartis only had an obligation to the mansion’s owner, who held the policy.
A New Jersey federal judge sentenced a Romanian man Thursday to nearly five years in prison for his role in a scheme to steal bank account information from thousands of customers and withdraw at least $5 million by installing secret card-reading devices and pinhole cameras on ATMs, federal authorities said.
A shareholder alleging generic-drug maker Impax Laboratories Inc. failed to disclose to investors a federal investigation over possibly collusive market activity has dropped his proposed class action in New Jersey federal court because a similar action is pending in California.
Global law firm DLA Piper nabbed former Lowenstein Sandler LLP litigator David Sager, who brings 25 years of experience to his new firm’s litigation practice in its Short Hills, New Jersey, office, the firm announced this week.
Honeywell International Inc. on Tuesday filed an antitrust action against Alarm.com and Icontrol Networks Inc. over a planned $140 million security technology acquisition deal, alleging in New Jersey federal court the deal would give Alarm.com a monopoly in the market.
A New Jersey state appeals court on Thursday found that the state does not have to cover the defense costs of a former county superintendent of elections in a lawsuit alleging retaliation against three workers because the litigation involves supervising employees and not enforcing election laws.
Braeburn Pharmaceuticals Inc., a commercial-stage biotech company developing a drug to treat opioid addiction, formally pulled an estimated $150 million initial public offering Wednesday, saying public markets are currently unattractive, echoing a common concern among life science issuers.
The Third Circuit has denied a request by auto and equipment dealers and others to reconsider a January ruling that international shipping companies are immune from allegations of a conspiracy to stifle competition and fix prices for vehicle transportation.
A Florida man who recently admitted to fraud and conspiracy charges in connection with the Coin.mx bitcoin exchange testified Wednesday that New Jersey pastor Trevon Gross and tech expert Yuri Lebedev were in on a plot to co-opt a small bank for use in a money-laundering operation.
A New Jersey federal judge said Wednesday that a Grunenthal GmbH subsidiary has settled a gender and disability discrimination lawsuit brought against the pharmaceutical company by a former Global Operations Study Leader alleging she was fired after seeking accommodations for her health problems and raising concerns about the mistreatment of female employees.
Presidential adviser Kellyanne Conway's TV appearances provide some examples of what lawyers should and shouldn't do when speaking to the media, says Michelle Samuels, a vice president of public relations at Jaffe.
Some state banking regulators see the Office of the Comptroller of the Currency's plan to create a new charter for financial technology companies as a direct threat to their existing authority. Litigation challenging the preemptive effect of the fintech charter would likely involve an interpretation of the limitations on the OCC’s statutory preemptive power, say attorneys with Eversheds Sutherland (US) LLP.
We all recognize that cutting or copying text from earlier works and pasting it into new documents saves attorneys time. However, with this increase in speed comes an increased risk of making, or not catching, errors, says Robert Lang of D’Amato & Lynch LLP.
Detractors of litigation funding have strained to characterize a recent decision from a California federal court as significant headway in their crusade against the litigation funding industry. However, in truth, this is a victory for both the industry and those in need of capital to bring meritorious claims against wrongdoers in an often prohibitively expensive legal system, say Matthew Harrison and Priya G. Pai of Bentham IMF.
The California Supreme Court recently reversed its 2003 decision in Henkel v. Hartford, where it previously held that a no-assignment clause will bar the transfer of insurance coverage rights to a successor entity. The clear majority trend among courts across the country is to uphold the ability of parties to transfer coverage in corporate transactions and prevent the forfeiture of historical insurance assets, say Michael Ginsberg ... (continued)
Marijuana cultivation suffers from the same pest and disease pressure as any large commercial greenhouse operation. However, the circumstance unique to this setting is that any use of a pesticide in the cultivation of marijuana is a violation of federal law, says Telisport Putsavage of Putsavage PLLC.
Many posit a material decline in environmental enforcement and a retrenchment or reversal of environmental regulatory initiatives in the new Trump administration. We expect three concrete areas where activism and activity will be on the rise during this time, targeting a variety of environmental, public health and liability issues of considerable potential consequences, say Lester Sotsky and Andy Wang of Arnold & Porter Kaye Scholer LLP.
The increasing number of foreign entities with U.S.-based wholly owned subsidiaries virtually guarantees that issues of personal jurisdiction are not going away anytime soon. When a party seeks to support its jurisdictional argument against a foreign entity on grounds that the U.S. subsidiary is the alter ego of its parent, it presents a new wrinkle to an already complicated issue, says Beth Rose of Sills Cummis & Gross PC.
Fred Korematsu’s U.S. Supreme Court case challenging President Franklin Roosevelt’s executive order that led to the incarceration of approximately 120,000 people of Japanese ancestry may sound like ancient history. However, Feb. 19 marks the 75th anniversary of the order's signing, and that it’s celebrating its diamond anniversary now is breathtaking timing, says Randy Maniloff of White and Williams LLP.
General counsels face the challenging task of understanding how companies can navigate the rules surrounding uses of artificial intelligence. To get smart on AI, general counsels must ask the right questions about areas such as human resources, intellectual property, liability and insurance, say Bruce Heiman and Elana Reman of K&L Gates LLP.