New York

  • January 19, 2017

    Real Estate Rumors: LA Mansion, WRS, Endurance

    A spec mansion in L.A. is reportedly listed for a record $250 million, WRS Realty is said to be nearing a deal to pay $34.5 million for the Underground Atlanta mall, and insurance company Endurance has reportedly leased 143,000 square feet in New York from Rockefeller.

  • January 19, 2017

    Jason Galanis Pleads Guilty In $60M Tribal Bond Scheme

    Inveterate white collar fraudster Jason Galanis faces up to 30 years in prison after pleading guilty in a New York federal court Thursday to securities fraud and conspiracy charges and hopes, while he’s awaiting sentencing, to be able to keep teaching business courses to fellow inmates.

  • January 19, 2017

    Jury Finds Ex-Visium Manager Guilty Of Hedge Fund Fraud

    A Manhattan jury took just 90 minutes Thursday to convict former Visium Asset Management LP portfolio manager Stefan Lumiere of scheming to overvalue a $480 million fund focused on health care-sector debt.

  • January 19, 2017

    Kelley Drye Steers Loan For $94M NYC Hotel Buy

    McSam Hotel Group LLC has purchased the Club Quarters Hotel Wall Street from Rockwood Capital LLC for $93.55 million and has scored roughly $71.5 million in financing from Kelley Drye & Warren LLP-counseled Aareal Capital Corp., according to multiple documents filed in New York on Wednesday.

  • January 19, 2017

    NY Doctor's Sexual Misconduct Coverage Row Goes To Trial

    A New York federal judge on Wednesday ordered a trial in a doctor's dispute with Harleysville Worcester Insurance Co. over coverage for a medical malpractice and battery complaint filed by the granddaughter of a former patient.

  • January 19, 2017

    Blank Rome Gains Cross-Border Transaction Partner In NY

    Blank Rome LLP announced it has added a Withers Bergman LLP partner to its corporate, mergers and acquisitions, and securities group and its cross-border practice.

  • January 19, 2017

    Customer Fights Soap Maker's Bid To Duck 'Natural' Suit

    The leader of a proposed class action accusing Beaumont Products Inc. falsely peddling its Clearly Natural Essentials soaps as "natural" despite containing synthetic ingredients urged a New York federal judge Wednesday to ignore a dismissal request “that will serve no useful purpose.”

  • January 19, 2017

    Akerman Nabs Former CBS Exec For NY Tax Group

    A former vice president of CBS Inc. has accepted a partner position in the New York office of Akerman LLP, leaving his current management role at Mayer Brown LLP to lend his experience counseling companies on everything from international to local tax matters to Akerman’s growing tax practice group.

  • January 19, 2017

    Colgate Seeks To Brush Away Toothpaste False-Ad Suit

    Colgate-Palmolive asked a New York federal judge on Wednesday to toss a proposed class action alleging the company overstated the tooth-whitening power of one of its toothpaste brands, saying federal labeling regulations eclipse any state laws on the subject.

  • January 18, 2017

    Fairmont Seeks $15M In Mexico Hotel Contract Breach Row

    Luxury hotel operator Fairmont Hotels & Resorts asked a New York federal judge on Tuesday to confirm a $15 million arbitration award against the owners of two hotels in Mexico for allegedly breaching management contracts Fairmont had struck with the previous owners of the hotels.

  • January 18, 2017

    Exxon, Quanta Settle Long-Running NY Cleanup Suit

    Exxon Mobil Corp. and Quanta Resources Corp. told a New York federal judge Wednesday they had reached a settlement that would release dozens of companies from labyrinthine environmental cleanup litigation over Quanta's old waste transfer station in Queens.

  • January 18, 2017

    Niro Attys Again Face Sanctions In Sloan-Kettering IP Row

    A New York federal judge ruled Wednesday that a biopharmaceutical company can refile its suit seeking to reclaim gene therapy patent rights from the Sloan-Kettering Institute in state court, but said the company and its counsel must explain their delay in making the move or face sanctions.

  • January 18, 2017

    SAC Trader, Feds Feud At 2nd Circ. Over Salman Impact

    Jailed ex-SAC Capital Advisors manager Mathew Martoma sparred with federal prosecutors Tuesday over the U.S. Supreme Court’s recent decision upholding the Salman insider trading case conviction, with the hedge funder saying a Second Circuit decision still carries weight.

  • January 18, 2017

    Niger’s $30M Central Park Mansion Seized For $46M Award

    A New York federal judge gave the all-clear on Tuesday for a company with a massive judgment against Niger to seize a $30 million property the country owns that’s just steps from Central Park, giving Africard Co. Ltd. a win-by-default after years of legal wrangling with the country.

  • January 18, 2017

    Agent Not Liable In Hurricane Irene Coverage Row, Court Says

    Intermarket Insurance Agency Inc. cannot be held liable for negligence for allegedly failing to secure sufficient insurance for a textile wholesaler prior to Hurricane Irene, leaving it without coverage for losses due to the storm, a New York state judge has ruled, finding that the agent had no duty to advise the policyholder to acquire additional coverage.

  • January 18, 2017

    Paul McCartney Tells Sony To 'Let It Be' Over Early Work

    Paul McCartney lodged a suit against Sony/ATV on Wednesday over copyright interests in The Beatles’ songs, asking a New York federal judge to confirm that the legendary songwriter won’t face breach of contract claims if he cuts off rights Sony’s predecessors acquired 50 years ago.

  • January 18, 2017

    TiVo Damages Lost Value Claim Tossed In Kantar IP Row

    A New York federal judge on Wednesday ruled that said that TiVo Research and Analytics Inc. hadn’t proved it is entitled to damages between $60 million and $196 million as a result of Kantar Media Audiences’ alleging devaluing of its business in a long-running patent infringement row. 

  • January 18, 2017

    NYC Transpo Workers Get Racist Treatment, Feds Say

    The federal government ripped into the New York City Department of Transportation on Wednesday, alleging its maintenance division's managers habitually used racial slurs and systematically excluded minority candidates for supervisory spots.

  • January 18, 2017

    NY Hospital Escapes Med Mal Suit Over Surgery Injury

    A New York federal judge on Tuesday tossed a medical malpractice suit accusing a Manhattan hospital of being responsible for an elderly man’s shoulder nerve damage allegedly sustained during surgery, saying the plaintiff's expert opinion was speculative.

  • January 18, 2017

    Indicted CEO Can't Escape Securities Fraud Charges

    A New York federal judge on Wednesday refused to toss criminal securities fraud and money laundering charges against private equity CEO Benjamin Wey, and said the court would rule on his effort to suppress evidence seized during government searches after a hearing next week.

Expert Analysis

  • The Prudential Need For Insurer Access To Information

    Jason P. Cronic

    In the recent American Realty class action, the Southern District of New York ruled that confidential information could not be shared with insurers. When courts prevent such disclosure, they significantly hamper insurers' ability to be meaningfully involved in the defense and settlement of claims, say Jason Cronic and Leland Jones IV of Wiley Rein LLP.

  • Proportionality Takes Hold In 2nd Circ.: Takeaways For 2017

    Elizabeth Del Cid

    District courts within the Second Circuit have issued at least 15 decisions in which a discovery ruling was based, at least in part, on the proportionality factors set forth in amended Federal Rule 26(b)(1). In more than half those decisions, courts denied discovery requests on proportionality grounds. Elizabeth Del Cid and Soren Packer of Murphy & McGonigle PC discuss seven takeaways for litigants as the amended rule turns two.

  • State Attorneys General Play Growing Data Privacy Role

    Jasen Eige

    State attorneys general play an active role in data privacy and security, bringing evolving state laws and broad consumer protection authority to bear on changing technologies and threats. Private sector custodians of personal data such as retailers, financial institutions, technology companies and health systems must understand the role of state attorneys general before a crisis occurs, say Jasen Eige and Kassie Schroth of McGuireWoods LLP.

  • Door Closing On 'Unavailability' Insurance Exception: Part 2

    Scott M. Seaman

    Historically, decisions applying New Jersey law have applied the "unavailability of insurance" exception in the context of some asbestos and environmental coverage claims, but the already narrow exception may potentially be further limited in the near future, says Scott Seaman of Hinshaw & Culbertson LLP.

  • Gawker Breaks News 1 Last Time

    Danielle Donovan

    In bankruptcy court, releases are more controversial than a sex tape. That’s why Gawker’s recently approved Chapter 11 liquidation plan, which provides for releases of Gawker’s current and former employees and independent contractors, is a treasure trove, says Danielle Donovan of Weil Gotshal & Manges LLP.

  • Door Closing On 'Unavailability' Insurance Exception: Part 1

    Scott M. Seaman

    Over the last 20 years, policyholders have often tried to use the "unavailability of insurance" exception to counteract the consequences of pro rata allocation, but recent activity suggests that the exception is losing support even in the few jurisdictions that have recognized it, says Scott Seaman of Hinshaw & Culbertson LLP.

  • Curbing The Power Of Pari Passu Clauses

    Sergio J. Galvis

    The New York courts’ interpretation of the pari passu clause in Argentine bonds to provide a basis for a powerful injunctive remedy was widely viewed as novel. But a new ruling out of the Southern District of New York will likely limit the precedential effect of the earlier rulings on sovereign debt restructurings for the large number of still-outstanding securities that contain pari passu clauses, say attorneys with Sullivan & Cromwell LLP.

  • In Congress: Obamacare, The Cabinet

    Hertling_Richard_Covington.jpg

    Republican leaders in Congress plan to take the initial steps toward repealing and replacing Obamacare this week, hoping to deliver on the campaign promises made by most Republicans over the past six years and by President-elect Trump during the 2016 election cycle, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.

  • The Sky's The Limit For Public-Private Aerial Transit

    Frank Rapoport.jpg

    Aerial tramways have been used in a number of U.S. cities for public transport in recent years. Now, aerial gondola lifts are being considered for moving commuters and tourists in New York City, Miami, Philadelphia, Chicago and elsewhere, and the public-private partnership model is emerging as a favored way of delivering and maintaining these green and cost-efficient systems, says Frank Rapoport of Peckar & Abramson PC.

  • Why NY Employers Should Carefully Consider Freelancers

    Loren Lee Forrest Jr.

    Employers that engage independent contractors should be aware of certain tensions between the new Freelance Isn't Free Act and the Court of Appeals of the State of New York's recent Yoga Vida decision. Both serve as reminders to scrupulously examine formalization of policies concerning independent contractors, say Loren Lee Forrest Jr. and Katherine Marques of Holland & Knight LLP.