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.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.