New York

  • February 17, 2017

    Freddie Mac, FDIC Lose Bid For Redo In Libor Rigging Fight

    A New York federal judge refused Thursday to reconsider her dismissal of allegations by Freddie Mac, the Federal Deposit Insurance Corp. and Principal Financial Group Inc. regarding a conspiracy by big banks to rig the London interbank offered rate, saying U.S.-based accusations were dismissed in 2015.

  • February 17, 2017

    Noted Patent Lawyer On Verge Of Default In SEC Ponzi Case

    A Texas lawyer once referred to by Wired Magazine as the "world's most innovative patent troll" appeared on the verge Friday of defaulting out of a U.S. Securities and Exchange Commission suit alleging he and another lawyer schemed to pilfer $6 million from small businesses' escrow accounts.

  • February 17, 2017

    Buzzfeed Says Euro News Outlet's Libel Claims Lack Proof

    BuzzFeed Inc. on Thursday urged a New York federal judge to reject a libel lawsuit by a European news distribution company and its journalist owner, saying they failed to show the stories they published were true and refused to produce adequate supporting materials.

  • February 16, 2017

    Galanis Father, Son In Gerova Scam Get 6 Years Each

    During back-to-back hearings Wednesday, a New York federal judge sentenced father fraudster John Galanis and his swindling scion Derek Galanis to six years each in prison for their roles in the $20 million Gerova Financial Group Ltd. pump-and-dump scheme.

  • February 16, 2017

    Willkie Farr, Ex-Client Spar Over Tossed Backstabbing Claim

    An ex-client of Willkie Farr & Gallagher LLP squared off against the firm in a New York appellate court on Thursday in a bid to overturn the dismissal of his case, saying the court misconstrued his suit as a legal malpractice case and used the wrong date when it determined he sued too late.

  • February 16, 2017

    Breast Implant Fight Should Stay In Court, Brazilian Co. Says

    The Brazilian manufacturer behind Sientra Inc.’s silicone breast implants fought back Wednesday against Sientra’s attempts to pause litigation between the companies in favor of international arbitration, telling a New York federal court that such a move would drag out urgent intellectual property matters.

  • February 16, 2017

    Founder Of BlueHippo, Itself Underwater, Files For Ch. 7

    The former CEO of now-defunct BlueHippo Funding LLC filed for personal Chapter 7 bankruptcy in Florida on Wednesday, two days before he was required to respond to a motion to hold him in contempt for failing to pay $13.4 million for violating an order that his company cease deceptive practices.

  • February 16, 2017

    International Shipholding Ch. 11 Plan Hits Creditor Snag

    International Shipholding Corp. was forced by a New York bankruptcy judge on Thursday to engage in a separate hearing with a financier over a $6.25 million administrative priority claim after resolving all but one secured lender's objection to its amended plan to restructure more than $200 million in debt.

  • February 16, 2017

    NYU Asks Judge To Toss ERISA Suits Over Retirement Plan

    New York University on Wednesday asked a federal judge in New York to throw out a proposed class action alleging it breached a fiduciary duty to employees in its retirement plan, saying the employees had never alleged a conflict of interest that could lead to a claim the university breached its loyalty to the plan.

  • February 16, 2017

    Commerzbank Tells Judge Not To Toss Wells Fargo RMBS Suit

    Commerzbank AG on Thursday urged a New York federal judge not to toss its suit alleging that Wells Fargo Bank NA failed to protect it from massive residential mortgage-backed securities losses, saying a ruling in a similar suit against Deutsche Bank National Trust Co. supports such an outcome. 

  • February 16, 2017

    Dewey Ex-Finance Head Says Accounting Fix Was Wrong

    The former international finance director at Dewey & LeBoeuf LLP testified in Manhattan criminal court on Thursday that one of two ex-Dewey executives facing a fraud retrial asked her to make accounting entries she thought were improper.

  • February 16, 2017

    Con Ed Agrees To $153M Settlement In Deadly NYC Gas Blast

    New York state and Con Edison reached a $153.3 million settlement over a 2014 East Harlem gas explosion that destroyed two buildings and killed eight people, according to an announcement Thursday from Gov. Andrew Cuomo’s office that called the agreement the largest gas-safety related financial settlement in state history.

  • February 16, 2017

    Port Authority OKs $32.2B Capital Plan For Transpo Projects

    The Port Authority of New York & New Jersey on Thursday signed off on a $32.2 billion, 10-year capital plan, advancing plans to fund a new bus terminal on Manhattan's west side, the long-awaited third tunnel under the Hudson River, and the ongoing redevelopment of LaGuardia Airport.

  • February 16, 2017

    Judge Suggests UN Bribe Indictment Gets By McDonnell

    Chinese billionaire Ng Lap Seng told U.S. District Judge Vernon S. Broderick on Thursday that the McDonnell precedent requires prosecutors to detail what official acts were taken in exchange for Ng's payments, but the judge intimated that he was unlikely to dismiss the high-profile bribery case on those grounds.

  • February 16, 2017

    Real Estate Rumors: Hampshire, Western Beef, Mount Sinai

    Hampshire Properties has reportedly scored $70 million in financing for a Brooklyn rental project, a Western Beef affiliate is said to have sold a Florida grocery store for $11.7 million, and Mount Sinai Health System has reportedly leased 26,100 square feet in New York from Empire State Realty.

  • February 16, 2017

    Diamond Magnate's Arbitration Award Upheld In Court

    A New York federal judge on Thursday confirmed an arbitration award totaling more than $100 million to diamond and real estate magnate Lev Leviev’s company, LGC USA Holdings Inc., over a dispute with LGC’s former business partner Julius Klein Diamonds LLC.

  • February 16, 2017

    FedEx Can Seek Documents On Illegal Cigarette Shipping

    FedEx can seek documents from New York City it believes may shield the company from claims it illegally and knowingly delivered untaxed cigarettes from a Long Island Native American reservation to the Big Apple, a New York federal judge has ruled.

  • February 16, 2017

    JPMorgan's $797M Settlement With Lehman Gets Court OK

    A New York bankruptcy judge on Thursday signed off on JPMorgan Chase Bank NA’s $797.5 million settlement with Lehman Brothers Holdings Inc., ending the last of the lawsuits and disputes between the two stemming from Lehman’s crisis-triggering 2008 collapse.

  • February 16, 2017

    Berliner Pilson Guides Zar Property's $83M NYC Purchase

    Berliner & Pilson represented Zar Property NY LLC in connection with its $83 million purchase of a New York property from Ascot Properties LP, according to documents made public in New York on Wednesday.

  • February 16, 2017

    NY Judge Gives Nod To Ex-AIG Head’s $10M Deal

    A New York state judge on Thursday indicated he approved the nearly $10 million deal the state attorney general reached with former American International Group Inc. CEO Maurice “Hank” Greenberg and the insurer’s former chief financial officer, and will dismiss the long-running fraud case once the pair pay up.

Expert Analysis

  • Saving Lawyers 1 Less Drink At A Time

    Jennifer Gibbs

    Lawyers are likely turning to alcohol to lessen stress and anxiety, to socialize, and even to sleep better. Unfortunately, many are unaware that their nightly pour could be causing or exacerbating the anxiety that is plaguing the legal profession, says Jennifer Gibbs of Zelle LLP.

  • A Lesson On The Rule Of Explicitness

    Sarah R. Borders

    A New York federal court's recent ruling in U.S. Bank v. T.D. Bank serves as a good reminder that lenders should carefully consider the interplay between loan documents in order to ensure they correctly represent the parties' intent. Under applicable state law, the rule of explicitness may apply to intercreditor disputes outside of bankruptcy, not just to disputes within a bankruptcy proceeding, say attorneys with King & Spalding LLP.

  • Opinion

    Lawyers Cannot Stay Silent While Trump Belittles The Courts

    Alexandra Wald

    This is not the first time that a president has criticized the judiciary. But what is unique about President Donald Trump's attacks is that they target not just a specific decision, but the judiciary and its decision-making power altogether. Every lawyer, regardless of political persuasion, must speak up, says Alexandra Wald of Cohen & Gresser LLP.

  • Marketing Basics For Solo Practitioners And Small Law Firms

    Matthew Horn

    There is no question that solo practitioners and small law firms need to spend the majority of time on legal work, but in order to achieve sustainable growth, marketing should not be a secondary task “put-off” until you have some free time, says Matthew Horn, founder of Legal Services Link LLC.

  • State AGs Can Enforce Emoluments Clause Against Trump

    Jed Shugerman

    Many argue that President Donald Trump is violating the Constitution's emoluments clause, because foreign states and officials are making payments to Trump through his businesses. Quo warranto — an obscure legal procedure previously used by "birthers" against President Obama — empowers state attorneys general to pursue Trump's business entities for emoluments clause violations, says Jed Shugerman of Fordham University Law School.

  • Sirius Copyright Ruling Is Setback For Recording Artists

    Ian Ballon

    The New York Court of Appeals’ recent decision in Flo & Eddie v. Sirius marks the first time that the highest court of any state has weighed in on whether state law recognizes a public performance right in pre-1972 sound recordings, and it may be influential in outstanding cases in California and Florida, say Ian Ballon and Justin MacLean of Greenberg Traurig LLP.

  • Transferring A Landmark's Development Rights Across The Street

    Michael A. Smith

    In New York City, real estate owners and developers can seek to obtain 74-49 special permits, which transfer unused development rights from an individual landmark to sites across the street. These transfers can be lucrative, but there have been only five recorded 74-79 special permit applications in the past 30 years, says Michael Smith of Herrick Feinstein LLP.

  • Much More Than East Texas Is At Stake In TC Heartland

    Steven Pollinger

    The U.S. Supreme Court’s grant of certiorari in TC Heartland has received a considerable amount of press regarding the potential impact on the Eastern District of Texas's ability to retain patent infringement litigation. But commentators have neglected to address how the overruling of VE Holding would, in many cases, prohibit patent holders throughout the country from filing suit in their home districts, say Steven Pollinger and Yu... (continued)

  • Final Face-Off For The Future Of Employment Class Waivers

    John B. Lewis

    For five years, employers and the National Labor Relations Board have battled over the impact of class and collective action waivers in arbitration agreements. But the U.S. Supreme Court will soon hear arguments on the issue and its resolution of the conflict will have profound implications for employers nationwide, say John Lewis and Dustin Dow of BakerHostetler.

  • Law Firm Margin Improvement: The Long Game

    Jack Diggle

    For all the lessons learned since 2008, it's surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The firms that will survive and thrive must invest in ongoing margin-improvement capability, which will combine enhanced business- and change-management skills and take a long-term view to drive out the more difficult changes, says Jack Diggle of Elevate Services Inc.