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New York

  • May 24, 2018

    Bryan Cave Partner Exits LabMD's Cover-Up Suit, For Now

    A New York federal judge Thursday dismissed without prejudice a cover-up suit that a cancer screening lab brought against Bryan Cave Leighton Paisner LLP and a partner just a few weeks ago, finding that LabMD Inc. failed to adequately plead subject matter jurisdiction.

  • May 24, 2018

    No Bonus For Consultancy That Kept Detroit's Art Out Of Ch. 9

    The Financial Guaranty Insurance Co. doesn’t need to pay an art consultancy a bonus tied to the so-called “Grand Bargain” that kept Detroit’s art collection off the table in its landmark municipal bankruptcy proceedings, a New York state appeals court ruled Thursday.

  • May 24, 2018

    Stormy Daniels Asks Judge To Let Trump Suit Move Forward

    Adult film star Stormy Daniels told a California federal judge Thursday he should reconsider a delay in her lawsuit to void a hush agreement she signed over a sexual encounter she claims she had with President Donald Trump, citing new evidence revealed by Rudy Giuliani and the president himself.

  • May 24, 2018

    Brooklyn DA’s Wiretap Victim Gets Green Light For Discovery

    A former Brooklyn assistant district attorney who was illegally wiretapped by a colleague won permission from a Brooklyn federal judge on Thursday to move forward with discovery in her privacy suit against New York City and her former employer, while her lawyer said they may opt to turn the suit into a class action.

  • May 24, 2018

    Ropes & Gray Partner Is Republican Candidate For NY AG

    Keith H. Wofford, a Ropes & Gray LLP partner who co-manages the firm's New York office, got the nod on Thursday to run for state attorney general on the Republican ticket in the wake of Eric Schneiderman's abrupt downfall.

  • May 24, 2018

    SALT Cap Enforcement May Mean Years Of Tax Limbo

    The U.S. Treasury Department is positioning itself to challenge states’ attempts to help constituents bypass the new federal limit on tax deductions, and taxpayers can expect years of uncertainty if the two sides — each facing difficulties justifying their viewpoints — go to court.

  • May 24, 2018

    Ruling In NYU ERISA Battle Likely To Come In July: Judge

    The judge overseeing an Employee Retirement Income Security Act class action accusing New York University of mismanaging workers' retirement savings has said she'll likely issue a decision in the closely-watched case in July. 

  • May 24, 2018

    ForceField Stock Promoter Gets Prison For $131M Fraud

    Stock promoter Louis Petrossi on Thursday was sentenced to over 3½ years in prison for his role in a $131 million market manipulation scam involving shares of lighting company ForceField Energy Inc.

  • May 24, 2018

    Empire State Building's Website Isn't Accessible, Suit Says

    The operator of the Empire State Building Observatory was slapped with a proposed class action in New York federal court Wednesday alleging that its website isn’t accessible to visually impaired and blind individuals and violates the Americans with Disabilities Act and state law.

  • May 24, 2018

    Iranian Banker Scores Bail In $115M Sanctions-Dodging Fight

    A Manhattan federal judge on Thursday agreed to the pretrial release of the Iranian chairman of a Maltese bank as he faces charges of evading U.S. sanctions on Iran by funneling $115 million in Venezuelan construction funds through American banks, following a protracted fight over a $34 million bail package.

  • May 24, 2018

    FedEx Wants Most Of $681M Cigarette Smuggling Case Axed

    FedEx Ground Package System Inc. asked a New York federal judge for a quick win on more than half of the damages at issue in a $681 million cigarette-smuggling lawsuit brought by New York City and state authorities, with the delivery company’s filings asserting most of the government’s claims were legally invalid or too late.

  • May 24, 2018

    Bond Hearing Ordered For Haitian Man Detained For 8 Months

    A New York federal judge on Wednesday ordered that a Haitian man detained for more than eight months be issued a bond hearing to determine whether he should be free as his deportation case proceeds, holding that to deny him the hearing would be unconstitutional.

  • May 24, 2018

    Feds Don't Want Star Witness Sideshow In Union Graft Retrial

    Federal prosecutors on Wednesday challenged an attempt by Platinum Partners LP co-founder Murray Huberfeld to discredit their star witness with allegedly incriminating evidence ahead of Huberfeld’s graft retrial alongside a labor boss, telling a New York federal judge the proffered evidence would send jurors down a rabbit hole of irrelevant information.

  • May 24, 2018

    Time Limits For Foreign Tax Credits Questioned By 2nd Circ.

    A Second Circuit panel asked during oral arguments Wednesday why the government would give taxpayers such as Trusted Media Brands Inc. a 10-year period to choose between using foreign tax payments as a credit or a deduction but only three years to claim the credits on their returns.

  • May 24, 2018

    NY Tells 2nd Circ. Native-Owned Tobacco Co. Flouted Tax Law

    The state of New York on Tuesday told the Second Circuit that a lower court correctly barred a Native American-owned tobacco maker's bulk sales of cigarettes within the state, saying the district court correctly found that the sale of cigarettes without tax stamps violates state tax law.

  • May 24, 2018

    Nigerian Cement Biz Snags $850M In Financing From PE Firm

    Ibeto Cement Co. Ltd., a Nigerian cement company run by billionaire Dr. Cletus M. Ibeto, announced on Thursday that it has received $850 million worth of financing from private equity firm Milost Global Inc. and is setting in motion plans to become a publicly traded company in the U.S.

  • May 24, 2018

    Pfizer Pays $24M To End Medicare Copay Kickback Claims

    Pfizer Inc. will pay $23.8 million to resolve allegations that it used a charitable organization to provide kickbacks to Medicare patients who took certain drugs manufactured by the pharmaceutical giant, the U.S. Department of Justice announced Thursday.

  • May 24, 2018

    Kirkland Guides LNK's $100M Investment In Dermatology Biz

    Private equity firm LNK Partners, with assistance from legal adviser Kirkland & Ellis LLP, has agreed to inject $100 million into Schweiger Dermatology Group to help the dermatology practice expand throughout the Northeast, according to a Thursday statement.

  • May 23, 2018

    ​​​​​​​UBS Sues Theater Cos. To End Row Over Missing Funds

    UBS sued two Off-Broadway production companies Tuesday in New York federal court as it sought to end an arbitration proceeding they had brought against the bank stemming from an underlying dispute involving $3.5 million in missing funds.

  • May 23, 2018

    Objectors Chafe At 18% Fee Request In $2.3B Forex Deal

    Major questions still dog the path to final approval of a $2.3 billion settlement of forex-rate-rigging claims by 15 major banks, a hearing Wednesday revealed, as a New York federal judge asked plaintiffs’ counsel for more data to support an 18 percent fee request and delved into the proper treatment of ERISA claims.

Expert Analysis

  • States Need Realistic Expectations For Sports Betting

    A.G. Burnett

    In the run-up to the U.S. Supreme Court's decision in Murphy v. NCAA, many state officials viewed legalized sports betting as the answer to their budgetary problems. But states will soon learn, if they haven’t already, that sports betting is a complicated and low-margin business. Nevada’s results are sobering, say A.G. Burnett and Rick Trachok of McDonald Carano LLP. 

  • Keys To Protecting Communications With Litigation Funders

    Alan Guy

    As different jurisdictions impose their own disclosure requirements regarding commercial litigation finance, there can be no “one size fits all” approach to ensuring confidentiality. But litigants, lawyers and litigation funders may be able to decrease disclosure risks through a handful of best practices, says Alan Guy of Vannin Capital.

  • Employee Choice Doctrine — Alive And Well In NY

    Jerome Coleman

    While the fate of recent bills seeking to prohibit or severely limit employment restrictive covenants is uncertain at best, in New York the employee choice doctrine remains a useful tool in the employer arsenal for restricting post-employment competition if the groundwork is properly created and administered, says Jerome Coleman of Putney Twombly Hall & Hirson LLP.

  • NY Unincorporated Biz Tax Proposal Overshoots Its Mark

    Leah Robinson

    The New York State Department of Taxation and Finance just released for comment a draft bill to enact a new unincorporated business tax. While that is a laudable goal, the proposal as currently drafted appears to generate substantially more revenue for the state than the benefit to individual partners would seem to justify, say attorneys at Mayer Brown LLP.

  • Introducing The Legal Industry To Millennial Business Owners

    Yaima Seigley

    ​The current business climate has produced vast opportunities for seasoned lawyers to create valuable connections with millennial business owners, but first lawyers must cleanse their palate of misconceptions regarding millennials, says Yaima Seigley of Isaac Wiles Burkholder & Teetor LLC.

  • Policy Language Can Curtail Long-Tail Insurance Claims

    Paul Ferland

    The New York Court of Appeals' recent decision in Keyspan v. Munich shows that the most effective tool an insurer has in cases involving long-tail claims is its specific policy language limiting coverage to losses that occur during the policy period, says Paul Ferland of Foran Glennon Palandech Ponzi & Rudloff PC.

  • Advertiser Self-Regulation And Class Actions: Part 3

    John Villafranco

    Companies take part in National Advertising Division proceedings as a form of industry self-regulation — and as an alternative to potentially costly litigation. Analysis of which plaintiffs firms are filing lawsuits after NAD rulings, and whether NAD decisions have any impact on federal courts, supports the conclusion that NAD participation has little correlation with consumer class actions, say attorneys with Kelley Drye & Warren LLP.

  • Reaffirming Omnicare's Section 10(b) Protections

    Susanna Buergel

    In its recent decision in Martin v. Quartermain, the Second Circuit reiterated that meeting the Omnicare standard set forth by the U.S. Supreme Court in 2015 is no small task for investors. This strict application of Omnicare ensures that Section 10(b) jurisprudence remains focused on identifying truly fraudulent conduct, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Advertiser Self-Regulation And Class Actions: Part 2

    John Villafranco

    Are plaintiffs lawyers scouring National Advertising Division rulings for litigation targets? An analysis of the timing of class actions in relation to NAD decisions suggests that the risk of being subject to a follow-on consumer class action after participation in an NAD proceeding that results in an adverse decision is low, say attorneys with Kelley Drye & Warren LLP.

  • 2 New Decisions Clarify Chapter 15 Requirements

    James Bentley

    Two recent decisions from the Southern District of New York reaffirmed several Second Circuit holdings that retainers placed with U.S. law firms constitute property of the debtor in the U.S. for Chapter 15 filing purposes. The surprising part was the required amount, says James Bentley of Schulte Roth & Zabel LLP.