A New York federal judge Friday denied Lynn Tilton’s Patriarch Partners LLP insurance coverage for a $20 million U.S. Securities and Exchange Commission probe, saying it was already under investigation took out $5 million in excess coverage from Axis Insurance Co.
Olympic gold medalist Oksana Baiul on Thursday urged the Second Circuit to reconsider a decision affirming judgment for NBC in her royalty suit over a 1994 TV special, arguing that the ruling runs afoul of precedent from the appeals court itself and the U.S. Supreme Court.
A New York state judge has brought an end to QBE Americas Inc.’s suit seeking insurance coverage for a $19 million settlement of claims that it paid kickbacks to banks that drove up premiums for force-placed insurance, saying the claims are clearly excluded by the policies.
A New York state appeals court has ruled that a Long Island medical center must turn over a contract with the founder of an anesthesia practice in a suit brought by a patient who claims his anesthesia was bungled, overturning a lower court order protecting the document from discovery.
Bankrupt telecom giant Avaya Inc. became the 14th company to settle allegations that it infringed an Ethernet patent held by Network-1 Technologies Inc., agreeing to allow a $40 million unsecured claim against the estate, according to papers filed in New York bankruptcy court on Thursday.
A New York tax tribunal has mostly kept a Whole Foods subsidiary on the hook for $3.5 million to cover three years of back taxes, but tossed related penalties, finding that the unit “reasonably, but erroneously” didn't file a combined tax report with another subsidiary after paying it trademark royalties.
Two days after bringing sexual harassment claims against IHOP locations in Illinois, the U.S. Equal Employment Opportunity Commission brought a class action against several franchisees of the restaurant chain in Nevada federal court Thursday, alleging rampant sexual harassment, an illegal policy that discouraged employees from reporting such incidents and retaliation against workers who complained.
A proposed class of Fiat Chrysler Automobiles NV investors told a New York federal court Thursday that there’s no reason to trash their emissions-related allegations because they’ve shown the automaker’s executives knew about possible “defeat devices” in Fiat’s vehicles and thus intended to deceive investors about potential emissions problems.
A New York federal judge on Thursday rejected a proposed $19.1 million settlement between a putative class of 28,800 TGI Friday's tipped workers and the restaurant chain, saying it contains confidentiality and release provisions that could not “pass muster.”
Reliance Realty Partners has reportedly bought a Manhattan rental building for $30.8 million; Google is said to have dropped $130.9 million on an office campus in Boulder, Colorado; and Jernigan Capital has reportedly loaned $14.66 million for a Florida self-storage development project.
A New York federal judge hearing a dispute between Amtrak and a group of London market insurers over environmental cleanup coverage Thursday agreed with the rail company that the pollution could have been “accidental,” but he rejected Amtrak's definition of “sudden.”
An Iranian-American engineer serving 97 months for a violation of the Arms Export Control Act might “rue the day” if he ever stood trial for alleged misconduct that prosecutors say went far beyond a single offense on appeal, a Second Circuit judge warned Friday.
The engineers behind the New Jersey Transit and Long Island Rail Road train crashes over the past year that caused hundreds of injuries combined and left an attorney dead in one accident were later diagnosed with severe sleep apnea, according to reports made available Thursday by the National Transportation Safety Board.
Chadbourne & Parke LLP and the female attorneys accusing the firm of gender discrimination clashed in New York federal court Wednesday over whether Chadbourne should turn over more documents about partner complaints, compensation and the firm's management.
James Dyson of the Dyson appliance firm is reportedly paying between $73 million and $83 million for a Park Avenue penthouse in Manhattan, Silverman Group is said to have picked up two Florida industrial buildings for $30.7 million, and co-working firm Spaces is reportedly leasing 40,000 square feet in Chicago.
Amazon.com Inc. is expanding its New York City presence with a 359,000-square-foot office, thanks to $20 million in performance-based tax credits coming the online retail giant's way under a jobs and investment program, the state governor said Thursday.
The U.S. Commodity Futures Trading Commission said Wednesday that a Steptoe & Johnson LLP partner has been appointed to serve as director of the agency's Division of Swap Dealer and Intermediary Oversight.
A Manhattan judge was set on Thursday to order a default judgment against a former broker for subjecting unsophisticated clients to risky trades and spending client money on bar tabs, after the New York man sent a “rude and inappropriate” email to the U.S. Securities and Exchange Commission and skipped court.
The Federal Deposit Insurance Corp. asked a New York bankruptcy court Thursday to hit the snooze button on a suit filed by Lehman Brothers against Guaranty Bank over the sale of shoddy mortgages, saying Lehman must go through an administrative claims process first.
Former Manhattan U.S. Attorney Preet Bharara is joining CNN as a contributor, the cable news network said Thursday, one day after the former prosecutor for the first time described in detail his March firing by President Donald Trump.
The prosecution of HSBC’s former global head of foreign exchange spot trading — whose trial begins on Monday in the Eastern District of New York — will test whether the government can turn sharp dealing and deception in the unregulated institutional spot forex market into criminal fraud, says Scott Schirick of Pryor Cashman LLP.
When venue is challenged, who bears the burden of proof in patent cases? It turns out the courts are sharply divided on this important issue, say attorneys with Mayer Brown LLP.
After four decades attempting to apply the commercial-activity exception of the Foreign Sovereign Immunities Act — the most significant exception to sovereign immunity — no court has ever decided the meaning of the heart of the exception, and with it the FSIA, says Robert W. Ludwig, a founding member of Ludwig & Robinson PLLC.
Payment collection delays have caused law firms to seek new options, one of which is litigation finance. In this context, litigation finance can offer alternative avenues to firms as they approach the end of a fiscal year or partnership distribution dates, says Travis Lenkner of Burford Capital LLC.
A New York state court’s recent decision in LNYC Loft v. Hudson Opportunity Fund regarding the authority of a limited liability company to appoint a special litigation committee represents a departure in the trend of courts using statutory and common law to address questions that are not directly addressed by an LLC operating agreement, say Muhammad Faridi and Elizabeth Quirk of Patterson Belknap Webb & Tyler LLP.
Imagine going to a restaurant and ordering your steak medium-rare. The steak arrives burned. You expect the kitchen to bring you another one properly done, right? And you don’t expect to pay for two steaks, do you? Paying a vendor for document review should be no different, says Lisa Prowse, an attorney and vice president at e-discovery firm BIA Inc.
Companies are allowed to collect the money they are owed, but they cannot break the law or cheat people in the process. Some of the biggest players in the debt collection industry are not focused on getting it right, says Massachusetts Attorney General Maura Healey.
The Second Circuit's recent Martoma decision potentially expands the category of persons that, upon the disclosure of confidential information without pecuniary or tangible benefit, may constitute tippers or tippees subject to insider trading liability, say attorneys with Cadwalader Wickersham & Taft LLP.
Is the rising spate of opioid litigation comparable to the litigation that led to the mega-billion dollar settlement with Big Tobacco? According to ex-trial lawyer Richard Scruggs, who helped engineer the $248 billion tobacco settlement in the 1990s, the answer is "sort of."
Although the Trump administration has completed the vetting and confirmation of a cabinet and White House staff, thousands of senior positions remain unfilled throughout the executive branch. More than ever, people selected for those posts find themselves under close scrutiny, say Adam Raviv and Reginald Brown of WilmerHale.