JPMorgan Chase & Co. and Deutsche Bank AG have agreed to pay a combined $148 million to escape two investor suits alleging they rigged the Libor benchmark rate, according to a proposed deal Friday, asking for early approval despite both banks having technically been dismissed from one of the cases.
Medidata Solutions Inc. is entitled to coverage from a Chubb Ltd. unit for a $4.8 million loss it suffered when it was tricked into wiring the money overseas, a New York federal judge ruled on Friday, holding that the incident constituted covered computer fraud under Medidata's crime policy.
The government's case against "pharma bro" Martin Shkreli inched toward conclusion on Friday, with both sides engaged in heated sparring over the final pieces of evidence and testimony in the closely watched securities fraud trial.
Federal prosecutors told a New York federal judge on Friday that they want to dismiss fraud and conspiracy charges against two European former derivatives traders at JPMorgan Chase & Co. involved in the $6 billion “London Whale” debacle, because they can’t extradite the defendants and can’t rely on their star witness.
A group of 20 Democratic attorneys general asked President Donald Trump on Friday to defend the Obama administration program allowing unauthorized immigrants who arrived as children to stay in the U.S., a request that came against a backdrop of opposition from some Republican state AGs and an uncommitted White House.
A bond trader fired by Odeon Capital Group LLC who won $1.1 million from his former employer over unpaid wages had his win confirmed by the Second Circuit on Friday, with the court tacking on attorney’s fees and rejecting Odeon’s claims that the decision was tainted by perjury.
A New York federal judge on Friday told burger chain Five Guys Enterprises LLC that it can’t dodge a putative class action alleging its website’s ordering systems aren’t accessible to blind users in violation of the Americans with Disabilities Act.
A New York federal judge on Friday again imposed a 20-year prison sentence on an investment adviser who pled guilty to masterminding a large investment fraud scheme, despite the Second Circuit ruling in April that the judge originally bungled the adviser's first sentencing.
A New York bankruptcy court granted Breitburn Energy Partners LP shareholders a look at the company’s books on Friday, a day after it granted the company another seven-week extension on its Chapter 11 plan deadline.
A billionaire Chinese real estate boss accused of bribing United Nations officials pumped millions of dollars into his New York news outfit, using it to make fat payments to hangers-on including the wife of late General Assembly President John Ashe, an accountant testified on Friday.
Sephora is reportedly leasing roughly 18,000 square feet in Times Square from Vornado Realty Trust, Liberty Property Trust is said to have sold a parking lot and vacant land in Florida for $10.32 million and Starwood Mortgage Capital has reportedly loaned $105 million for a New York property that's being converted into retail space.
A contractor urged a New York federal court Thursday to require Delaware Trust Co. to turn over a $21.1 million payment from the Republic of Congo as part of its efforts to collect on arbitral awards, a request Delaware Trust has already pushed back against in two related cases.
Creditors looking to force bankrupt renewable energy giant SunEdison Inc. to rework its pending Chapter 11 restructuring plan won perhaps just a short term-battle Thursday, as a New York bankruptcy judge adjourned the company's plan confirmation hearing before pending objections could be fully decided, allowing arguments to proceed into next week.
A Brooklyn federal judge on Wednesday slammed the attorneys behind a copyright suit over an Ethiopian cookbook, hitting them with sanctions and levying attorneys’ fees on their client after finding the case could have been avoided with 20 minutes of legal research.
Attorneys for Martin Shkreli and prosecutors in his securities fraud trial on Thursday traded barbs over a government bid to admit a slew of investor documents into evidence without calling those investors to the witness stand, which the defense claims would violate Shkreli's Sixth Amendment rights.
In overturning two traders' convictions for rigging a global financial benchmark, the Second Circuit handed the U.S. Department of Justice a major defeat that cross-border practitioners say creates an obstacle in joint U.S. enforcement cases.
The Second Circuit on Thursday upheld a New York federal court’s decision to vacate its own order enforcing a $57 million arbitral award against Laos after a Malaysian court set the award aside, finding an international enforcement agreement requires deference to the region where arbitration proceedings took place.
A Canadian gold mining company asked a New York federal court on Wednesday to hear a breach-of-contract suit brought against it in that state’s trial court by investment bank Jefferies LLC over a $175 million debt refinancing that the company announced days after severing its relationship with the bank.
A New York man on Thursday pled guilty in Manhattan federal court to stealing Native American and African tribal artworks from the estate of an art collector and then trying to sell them through a flea market dealer.
Abbott Laboratories and a Florida pharmacy have agreed to settle a suit accusing the pharmacy of selling “gray market” versions of the drugmaker's diabetes test strips, with the companies on Thursday asking a New York federal court to enter a permanent injunction blocking the pharmacy from selling unauthorized products.
Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.
It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.
In New York City, Local Law 26/04 requires that owners of buildings above a certain size must install sprinklers on all floors by July 1, 2019. Landlords' counsel should be mindful of whether form leases are updated to address this requirement, and tenants' counsel should be savvy of where issues and costs arising out of the requirement may be lurking in a typical lease, says Daniel Suckerman of Lowenstein Sandler LLP.
For all companies engaged in international commerce, guidance from the U.S. Supreme Court on the Second Circuit's controversial decision in the Vitamin C Antitrust Litigation would be welcome. If the Supreme Court's recent request for input from the acting solicitor general is any indication, the court may agree, say Nicholas Melzer and Janet Chung of Holland & Knight LLP.
Health Republic's liquidator has stated that claimants will not be paid until Health Republic's disputed claims against and from the federal government are resolved. Policyholders and other creditors should not be told to wait through a claims adjudication process only to find that potentially barely any money may remain to pay even a small portion of approved claims, says James Veach of Mound Cotton Wollan & Greengrass LLP.
In the first installment of this three-part series, attorney Robert W. Ludwig takes a deep dive into the controversial history of Second Amendment jurisprudence.
In nearly all jurisdictions, expert discovery is recognized as an important and necessary part of any civil case. In contrast, New York state courts do not permit expert discovery as most civil litigators know it, even in complex cases that primarily hinge on expert testimony, say Mark Shifton and Milena Shtelmakher of Seiger Gfeller Laurie LLP.
The Second Circuit's Allen decision Wednesday tilts the scales toward subjects and targets in multinational investigations. U.S. prosecutors could be forced to get involved in international investigations earlier than they might like, say Gregory O’Connell and Peter Sluka of De Feis O’Connell & Rose PC.
In May, the Federal Energy Regulatory Commission held a conference focused on the interplay between state policy goals and the organized energy markets in the eastern U.S. The subsequent comments from more than 70 interested parties reflect a basic lack of consensus among industry participants on the best approach going forward, say attorneys with Bracewell LLP.
Considering the U.S. Supreme Court may soon determine whether Title VII prohibits sexual orientation discrimination, it's tempting to view the Second Circuit's recent decision to reconsider en banc Zarda v. Altitude Express as having little long-term consequence. But this question's history and the interests at stake caution against underestimating its importance, say Raymond Wendell and Katharine Fisher of Goldstein Borgen Dardarian & Ho.