A broker used client funds to make highly volatile and risky trades without their knowledge and to pay off his personal credit card debt, bar tabs and restaurant bills, the U.S. Securities and Exchange Commission alleged in New York federal court on Tuesday.
The Brooklyn federal judge handling antitrust claims against American Express over rules barring merchants from suggesting the use of other credit cards was in no hurry Wednesday to prod the the six-year-old litigation forward, with a key ruling in favor of AmEx in a related case possibly bound for the Supreme Court.
A New York federal judge Wednesday declined to dismiss an indictment against Chinese real estate billionaire Ng Lap Seng charging him with a plot to bribe United Nations officials to facilitate construction of a convention center in Macau, saying it is legally sufficient.
The Second Circuit on Wednesday affirmed the dismissal of class allegations that JPMorgan Chase & Co. employees aided and abetted Bernie Madoff’s Ponzi scheme, agreeing with a lower court that JPMorgan’s lack of control over the scheme dooms the suit.
A Manhattan federal judge has declined to end a former UBS AG mortgage analyst's lawsuit that claims he was fired for refusing to skew his mortgage-backed securities research to be more favorable to the bank, likely sending the five-year-old dispute to trial.
KKR Real Estate Finance Trust Inc., a real estate investment trust managed by private equity giant KKR and focused on commercial real estate debt, set terms Wednesday for an initial public offering that could bring in around $210 million.
More Fox News workers from around the country may join a putative New York state class action alleging the network systemically discriminates against black workers, anchor and new named plaintiff Kelly Wright said Wednesday at a press conference with his attorney, Douglas Wigdor of Wigdor LLP.
KKR said Wednesday it plans to buy a Tokyo-listed Hitachi Ltd. unit in a tender offer that values the video solutions and semiconductor business at 257.1 billion Japanese yen ($2.3 billion) and will see Hitachi and a Japanese private equity firm take stakes in the business.
The New York City Bar Association on Tuesday told the Second Circuit that it supported Cravath Swaine & Moore LLP in its bid to block the disclosure of Royal Dutch Shell PLC documents for a planned environmental and human rights suit abroad, saying that handing them over could hurt attorney-client relationships.
The U.S. Commission on Civil Rights has urged the federal government to rethink sending U.S. Immigration and Customs Enforcement agents to state and local courthouses, noting that in one recent case, ICE agents arrested a woman right after she obtained a protective order against her alleged abuser.
Blackstone affiliate Equity Office has reportedly sold a Miami office and retail tower for $155 million, Boston Properties is said to have scored a $2.3 billion loan for a Manhattan property and New York landlord Pinnacle Group has reportedly issued $120 million of bonds in Israel.
New York tax authorities have determined that sales tax applies to online file-sharing software used by corporate boards of directors in an advisory opinion released Tuesday, but allowed for proportional exclusions for out-of-state board members and exempt internet access functions.
A New York federal judge Tuesday signed off on a settlement dismissing a proposed investor class action alleging that Multi Packaging Solutions International Ltd. and its executives hid information from shareholders regarding the packaging supplier’s $2.28 billion sale to WestRock Co.
Bankrupt green energy giant SunEdison Inc. on Tuesday narrowly avoided defaulting on its debtor-in-possession loans and jeopardizing its chances to reorganize when a New York bankruptcy judge approved a $640 million replacement loan in light of a compromise reached with a tenacious group of unsecured creditors.
Fox News Network LLC employees accusing the network of overlooking racist conduct and discriminating against black employees refiled their case as a putative class action in New York state court on Tuesday, while an ex-employee brought a new action in federal court alleging similar claims.
An attorney for the former executive director of Dewey & LeBoeuf LLP on Tuesday made her final remarks to the jury in the retrial over a purported scheme to fraudulently prop up the now defunct law firm, telling a Manhattan jury no witness testimony or evidence implicates Stephen DiCarmine in a crime.
Lawyers for Citibank NA came out swinging Tuesday to open a bankruptcy court trial over the nearly $2 billion valuation of about 30,000 derivatives trades that went into default after Lehman Brothers’ 2008 collapse, saying Citibank used proper methods to determine the cost of replacing those trades.
The Second Circuit on Tuesday ordered a lower court to pause, rather than dismiss, a lawsuit lodged against a U.S. patent licensing company by a U.K. technology company while the parties hash out a breach of contract dispute in arbitration, saying a stay is required under federal law.
A New York state appellate court on Tuesday rejected Popular Community Bank’s request to overturn a lower court decision refusing to dismiss a consumer’s claim that the financial institution violated state business law by reordering ATM transactions in order to maximize overdraft fees.
A Tuesday hearing in New York bankruptcy court saw representatives of bankrupt Gawker Media LLC, billionaire Peter Thiel and the attorneys for wrestler Hulk Hogan spar over Gawker's request for discovery against the parties involved in the lawsuit that brought the website down.
James Veach of Mound Cotton Wollan & Greengrass LLP continues his discussion of Health Republic's complicated liquidation process. In this part, he assesses New York Department of Financial Services Superintendent Maria Vullo's written response and testimony, finding that she failed to acknowledge several key facts about how Health Republic's money is being spent.
If Time Magazine is correct in that being a lawyer is one of the five worst high-paying jobs, it may be time for the legal profession to pull one from the playbook of musicians and professional athletes and seek to enter a state of “flow,” says Jennifer Gibbs of Zelle LLP.
James Veach of Mound Cotton Wollan & Greengrass LLP continues his discussion of Health Republic's complicated liquidation process. This article investigates the question of whether or not Superintendent Maria Vullo missed an opportunity to settle Health Republic's account with the New York Department of Health and Human Services before the Obama administration left office.
While a New York federal court recently acknowledged that certain factors supported class and collective treatment of the plaintiffs’ claims in Scott v. Chipotle Mexican Grill, a number of factors impacting employees' daily activities rendered certification of the plaintiffs’ state and federal wage and hour claims inappropriate, says Adriana Kosovych of Epstein Becker & Green PC.
For the second time in five years, the U.S. Supreme Court has granted review from the Second Circuit to consider the scope of the Alien Tort Statute. Jesner v. Arab Bank could have a significant impact on the burgeoning field of corporate social responsibility-related litigation, say attorneys with Ropes & Gray LLP.
Recent settlements reached between three health app developers and New York Attorney General Eric Schneiderman underscore the intense regulatory interest in the digital health arena. They also add to the growing concerns health app developers should consider when developing products, say attorneys with Pepper Hamilton LLP.
The Cleaning Product Right to Know Act of 2017 was recently introduced in California and is intended to require manufacturers to disclose the ingredients in their cleaning products. The bill contributes to the increasing legislative trend in California — and elsewhere — of consumer product right-to-know initiatives, say Thomas Manakides and Krista deBoer of Gibson Dunn & Crutcher LLP.
Suffering from law firm ranking fatigue? Bewildered by the methodologies? If so, you're in good company. Alan Morrison, associate dean for public interest and public service law at George Washington University Law School, wonders just how far law firm ranking efforts may go.
Group property and casualty insurance offers many advantages over traditional individualized coverage, but sometimes leads to more regulatory questions across both the admitted and surplus lines insurance markets. States can be fully expected to issue clarity on these issues through new statutes, regulations, bulletins and opinions in the months and years to come, says Zachary Lerner of Locke Lord LLP.
New York and Illinois have approved programs providing nuclear power plants with monetary credits for generating electricity without emitting carbon dioxide. Opponents have sued in federal court to nullify the programs. Although the lawsuits are narrowly targeted, an unfortunate consequence could be rulings that also annul renewable portfolio standards and renewable energy credits, says Gordon Coffee of Winston & Strawn LLP.