The trial of three former South American soccer officials wrapped Thursday as the prosecution argued its trove of secret recordings, unearthed ledgers and wire transfer records clearly established the men’s roles in long-running bribery schemes, while the defense accused the prosecution of overplaying its hand in the government’s wide-ranging corruption inquiry into international soccer.
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TOP NEWS

FIFA Trial Wraps In Blitz Of Denials And Recriminations

The trial of three former South American soccer officials wrapped Thursday as the prosecution argued its trove of secret recordings, unearthed ledgers and wire transfer records clearly established the men’s roles in long-running bribery schemes, while the defense accused the prosecution of overplaying its hand in the government’s wide-ranging corruption inquiry into international soccer. Read more »

Gov't Misconduct Claims Blocked From Ex-Katten Atty Trial

A Brooklyn federal judge on Thursday refused to allow allegations of government misconduct to be heard by jurors in the fraud trial of former Katten Muchin attorney Evan Greebel, after revealing that a witness claims a prosecutor told him to change his story, drop his legal action against Retrophin Inc. and pay the pharmaceutical company $170,000. Read more »

Turkish Banker Gets To Sleep On Decision To Take Stand

Mehmet Hakan Atilla, the Turkish banker accused of helping Iran evade billions of dollars of U.S. sanctions, stood up to take the stand on his own behalf Thursday before a close to the trial day afforded him the opportunity to sleep on his decision. Read more »

Ex-Deutsche Traders' Libor Trial Delayed By Taint Inquiry

A frustrated Manhattan federal judge on Thursday pushed the criminal trial of two former Deutsche Bank traders from early to mid-2018, making more time to examine whether the London Interbank Offered Rate rigging case was tainted by testimony compelled in the U.K. Read more »

Russia-Linked Cos. Accuse Feds, Dutch Of Undermining Deal

Offshore companies that agreed to pay $6 million after the U.S. government seized their assets over their supposed link to a Russian tax scam argued in Manhattan federal court on Thursday that federal officials may have conspired with prosecutors in the Netherlands to keep some of their assets frozen, while a government lawyer said the companies simply took a legal risk and lost. Read more »

NY, NJ Pledge $5.55B Toward 'Urgent' Commuter Tunnel Rehab

New York and New Jersey have pledged $5.55 billion for the construction of two new commuter rail tunnels under the Hudson River, an infrastructure project New York Gov. Andrew M. Cuomo and New Jersey Gov. Chris Christie said Thursday is “urgent” and critical to public safety and the economy. Read more »

REAL ESTATE & DEVELOPMENT

Real Estate Rumors: UniVista, PebblePost, Steph Curry

UniVista Insurance has reportedly bought a new Miami building for $10.2 million, marketing startup PebblePost is said to be taking nearly 20,000 square feet on Lafayette Street in New York, and basketball player Steph Curry's family foundation has reportedly reached a deal to lease office space in Oakland, California. Read more »

ENERGY & ENVIRONMENTAL

FERC Won't Reconsider Atlantic Bridge Pipeline Project OK

The Federal Energy Regulatory Commission on Wednesday stood by its approval of the Atlantic Bridge natural gas pipeline project in New York and New England, rejecting arguments from environmentalists and local municipalities saying that its environmental review was flawed. Read more »

INSURANCE

NY High Court Says No Set Rule On Reinsurer's Liability Cap

New York's highest court held Thursday that one of its prior rulings didn't create a general rule that a reinsurance contract's total liability cap encompasses both indemnity and defense costs incurred by an insurer, resolving a query from the Second Circuit in Century Indemnity Co.'s bid for reinsurance coverage of costs paid to defend Caterpillar in asbestos litigation. Read more »

CYBERSECURITY & PRIVACY

Conspirator In Fake-Business-Invoice Scam Gets 41 Months

A Nigerian national involved in a conspiracy to steal at least $25 million from businesses through sham invoice emails — what prosecutors called “the financial crime of choice for many criminal organizations” — was sentenced Thursday to 41 months. Read more »

AGs Want High Court To OK Microsoft Overseas Data Access

A coalition of 35 state attorneys general urged the U.S. Supreme Court on Wednesday to strike down a ruling that the federal government can’t access user data stored overseas by Microsoft, saying the “remarkable” decision gives too much control to private companies, while the European Commission and the U.K. and Irish governments separately weighed in on the dispute. Read more »

CONSUMER PROTECTION

State AGs Sue Over Corinthian Debt Relief Delays

The attorneys general of New York, California, Illinois and Massachusetts went after the U.S. Department of Education in federal court Thursday, alleging that the agency is shirking its obligations to the victims of Corinthian Colleges Inc. by not discharging their federal student loans and unlawfully trying to collect on the debts. Read more »

MEDICAL MALPRACTICE

NY High Court Says 'Wrongful Birth' Claims Start At Birth

New York’s highest court ruled Thursday in favor of two couples claiming they wouldn’t have had children through a fertility clinic had they known the egg donor was a genetic defect carrier, saying the statute of limitations began running at birth, rather than the date of the alleged medical malpractice. Read more »

SECURITIES & WHITE COLLAR

SEC Gets Extension Of Asset Freeze For Digital Coin Offerer

A New York federal judge on Thursday signed off on the U.S. Securities and Exchange Commission’s bid to extend an asset freeze against the initial coin offering business allegedly involved in what the agency has claimed was a $15 million scam run by a Quebecois couple. Read more »

Ex-Cuomo Aide Pleads Not Guilty In Bribery Case

A former aide of New York Gov. Andrew Cuomo and three others pled not guilty on Wednesday to an expanded indictment tied to alleged bribes for higher education and energy projects, ahead of a trial set for January. Read more »

$6.5M Investor Deal Preceded Leidos High Court Cancellation

Shareholders reached a $6.5 million proposed settlement sans attorneys’ fees in a fraud suit against Leidos Inc.’s predecessor SAIC Inc. in a case that was previously set to be heard by the U.S. Supreme Court, according to a proposal filed Wednesday in New York federal court. Read more »

Broker, Cable Vendor Downsize IPOs Just Before Pricing

Two companies — commercial real estate broker Newmark Group Inc. and cable vendor Casa Systems Inc. — significantly downsized their expected initial public offerings on Thursday, shortly before their scheduled pricing. Read more »

MERGERS & ACQUISITIONS

Disney Buys 21st Century Fox Assets In $52.4B Blockbuster

Disney and 21st Century Fox have come to terms on a $52.4 billion agreement that will see Disney pick up 21st Century Fox’s film and television studios, along with cable and international TV assets, according to a Thursday statement. Read more »

BANKRUPTCY

Observation Wheel Builder Reaches Deal On Interim DIP Cash

The company contracted to design and build a large observation wheel in Staten Island, New York, reached a deal with the wheel’s owners Thursday in Delaware to allow the bankrupt design company interim access to post-petition financing to be used to pay storage costs for large amounts of components for the wheel. Read more »

TELECOMMUNICATIONS

NY, Mass., Wash. To Sue Over Net Neutrality Rollback

Attorneys general in Massachusetts, New York and Washington state on Thursday announced their intentions to sue the Federal Communications Commission after it moved to undo regulations that protected net neutrality. Read more »

EXPERT ANALYSIS

Why Information Governance Is More Important Than Ever

It used to be that hiring a good law firm was the single most important thing a company could do when facing litigation. You could now make the case that an organization’s most powerful asset in prosecuting or defending a claim is its information, says Linda Sharp, associate general counsel of ZL Technologies and chair of the ACC Information Governance Committee. Read more »

LEGAL INDUSTRY

IRS Floats Tiered Partnership Rules Under New Audit Regime

The IRS on Friday released highly anticipated guidance on a new partnership tax audit regime to address, among other things, how tax adjustments should be taken into account by so-called tiered partnerships that have pass-through entities as partners. Read more »

GC Cheat Sheet: The Hottest Corporate News Of The Week

Experts shared with Law360 tips for helping employers keep the holiday festivities merry while limiting their legal risk, President Donald Trump tapped the U.S. Equal Employment Opportunity Commission's Chai Feldblum for a new term and two Senate Democrats challenged the National Labor Relations Board's new general counsel. These are some of the top stories in corporate legal news you may have missed this past week. Read more »

Law Firm Diversity Is Uneven Across US Cities, Report Says

African-American and other minority lawyers continue to be underrepresented in U.S. law firms, a nationwide report released Thursday has found, but the failure to build a diverse workforce is much more stark in some cities, such as Boston, than in others, such as Miami. Read more »

Social Media Can Create Confidentiality Exception, ABA Says

The fact that a piece of information about a former client is publicly available doesn’t necessarily mean it’s not subject to the lawyer’s duty to keep their confidences close, according to a Friday opinion from the American Bar Association. Read more »

Litigation Attorney Hiring To Tick Up In 2018, Survey Says

Litigation is expected to be a bright spot in an otherwise lackluster legal hiring market during the first six months of 2018, a survey of 200 law firm and corporate legal department hiring professionals has found. Read more »

2nd Circ. Gets Kozinski Sex Probe Amid New Reports

Federal court leaders moved quickly Friday to answer accusations of inappropriate sexual behavior by U.S. Circuit Judge Alex Kozinski, sending a misconduct investigation to an oversight council at the Second Circuit amid new reports that brought the total number of public accusers to 15. Read more »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week. Read more »

Q&A

A Chat With Orrick COO Laura Saklad

In this new monthly series, legal recruiting experts Amanda Brady and Amy Mallow from Major Lindsey & Africa interview law firm management from Am Law 200 firms about how they are navigating an increasingly competitive business environment. The first in this series is a conversation with Laura Saklad, chief operations officer for Orrick Herrington & Sutcliffe LLP. Read more »

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