New York

  • January 18, 2017

    NYPD Illegally Passed Over Applicant With HIV, Suit Says

    The U.S. Department of Justice accused the New York Police Department on Tuesday of refusing to hire an HIV-positive man as a police emergency dispatcher after discovering his health condition, according to a lawsuit filed in New York federal court.

  • January 18, 2017

    NY Says Bid To Force Pipeline Decision Is Uncalled For

    The New York State Department of Environment Conservation asked the D.C. Circuit to dismiss a suit by a natural gas pipeline company alleging the state agency is moving too slowly on approving a 7.8-mile gas pipeline, arguing on Tuesday that the state is following the timeline set out by law.

  • January 18, 2017

    Finance Pros Tell Fund Fraud Jury Visium Quotes Were Off

    A series of asset management professionals told Manhattan jurors Wednesday that price quotes procured by Stefan Lumiere from allegedly complicit brokers to overvalue a distressed-credit fund appeared to be inflated in value, as prosecutors closed their fraud case against the former Visium Asset Management LP portfolio manager. 

  • January 18, 2017

    State Attys Say Sessions' Record Makes Him Unfit As AG

    Attorneys general in New York, Massachusetts and four other states urged U.S. senators on Wednesday to reject Jeff Sessions as the new U.S. Department of Justice head, pointing to a judge's finding of “serious and wholesale prosecutorial misconduct” when he was Alabama's state attorney.

  • January 18, 2017

    Med Mal Suit Over Maternity Care Yields $2.7M Settlement

    A New York federal judge on Tuesday signed off on a $2.7 million settlement to resolve a medical malpractice suit lodged against a New York hospital and federally funded doctors over allegedly negligent maternity care that caused a baby to suffer chronic lung disease and other permanent injuries.

  • January 18, 2017

    Swaps Trading Is On New CFTC Chair's Radar

    Soon-to-be U.S. Commodity Futures Trading Commission acting chair and current commissioner J. Christopher Giancarlo on Wednesday outlined his plans and outlook for the near future, paying special attention to a swaps trading regime he said “has caused numerous harms.”

  • January 18, 2017

    Ex-NY Sen. Leader Gets 5 Years For Obstruction, Lying To FBI

    The former minority leader of the New York state Senate was sentenced Wednesday to five years in prison on his conviction for obstruction of justice and lying to federal agents in connection with a corruption case over his alleged embezzlement of real estate funds.

  • January 18, 2017

    2nd Circ. Revives Enforcement Bid On Metal Cos.' $48M Award

    The Second Circuit on Tuesday revived a bid by several Brazilian iron companies to enforce a more than $48 million arbitral award against the alleged alter egos and successors of Steel Base Trade AG, which are accused of orchestrating a fraudulent transfer scheme to avoid paying the award.

  • January 18, 2017

    Feds Oppose New Trial For Ex-Racer After Fraud Conviction

    The U.S. government has blasted convicted race car driver Tommy C. Constantine’s bid for an acquittal and new trial in his criminal fraud suit, arguing that his attempt to introduce a civil deposition does not qualify as new evidence.

  • January 18, 2017

    2nd Circ. Revives $140M FDIC Mortgage Securities Suit

    A federal appeals court on Wednesday reinstated a Federal Deposit Insurance Corp. lawsuit against five banks, including Credit Suisse Group AG, over $140 million in mortgage-backed securities that led to the failure of two smaller banks, saying that the regulator’s complaint was not time-barred.

  • January 18, 2017

    Calif. Law Firm Could Owe $13M For Pump-And-Dump Scheme

    A New York federal judge on Tuesday recommended that defunct San Diego law firm Carrillo Huettel LLP and its name partners pay $13 million and be barred from penny stock trading as a judgment in the U.S. Securities and Exchange Commissions’ suit accusing them of facilitating a pump-and-dump scheme.

  • January 18, 2017

    Mallinckrodt Inks $100M Antitrust Deal With FTC, States

    Mallinckrodt PLC has agreed to pay $100 million to end accusations by the Federal Trade Commission and several states’ attorneys general that it acquired the U.S. rights to an infant seizure drug that competed with its own Acthar, allowing it to dramatically raise prices, the FTC said Wednesday.

  • January 18, 2017

    Coinbase Gets NY BitLicense, Clearance For Its Operations

    The New York State Department of Financial Services on Tuesday handed out the fifth of its BitLicenses to Coinbase Inc., a digital currency wallet that allows buyers and sellers to complete transactions with Bitcoin and other virtual currencies, after finding that the company’s policies and operations meet the state’s expectations. 

  • January 18, 2017

    Real Estate Rumors: American Eagle, SpotHero, Mars

    American Eagle has reportedly leased nearly 13,000 square feet in New York, parking app firm SpotHero is said to be taking 28,000 square feet in Chicago and Mars has reportedly leased more than 7,000 square feet in Miami from a venture that includes Independencia Asset Management.

  • January 18, 2017

    Texas Atty Loses 2nd Bid To Ditch SEC's Ponzi Scheme Suit

    A New York federal judge on Tuesday refused to toss the U.S. Securities and Exchange Commission’s suit alleging a Texas attorney and another lawyer facilitated a Ponzi scheme by acting as escrow agents to collect $13.8 million from clients, finding the case should proceed in New York.

  • January 18, 2017

    Judge Rejects Newman Plea For Insider Trading Convictions

    A New York federal judge has refused to overturn insider trading convictions for the co-founders of trading firm Incremental Capital LLC, rejecting the pair’s bid to invoke the Second Circuit’s U.S. v. Newman decision.

  • January 18, 2017

    Smith Gambrell Bolsters Corporate Practice With 3 New Attys

    Smith Gambrell & Russell LLP has strengthened its New York corporate practice with the addition of three new attorneys with an established Italian practice, a move that comes after the firm's recent European expansion.

  • January 18, 2017

    O'Melveny Nabs DLA Piper Sports & Entertainment Pro

    A nationally known sports and entertainment partner from DLA Piper with extensive mergers and acquisitions and private equity experience has left that law firm to join O'Melveny & Myers LLP’s New York office, where he will chair the firm’s sports industry group.

  • January 18, 2017

    Sprint Asks To Mull AGs’ Changes To $50M Cramming Fund

    Sprint Corp. told a New York federal court on Tuesday that it was “premature” of several state attorneys general to say that the wireless carrier had agreed to proposed changes to a $50 million consumer repayment fund set up to settle allegations the company had crammed unauthorized charges onto subscribers' bills.

  • January 18, 2017

    Feds, Chase Reach Deal In Mortgage Discrimination Case

    A JPMorgan Chase & Co. unit on Wednesday agreed in principle to settle claims that it charged black and Hispanic borrowers higher mortgage rates between 2006 and 2009, federal prosecutors said.

Expert Analysis

  • The End Of Robosigning Challenges To Calif. Foreclosures

    Kenneth R. Styles

    California's Third District Court of Appeal has closed a door on challenges to securitized mortgage trusts. The Mendoza v. JP Morgan decision is important because it answers a key question that the California Supreme Court had left open, says Kenneth Styles of Miller Starr Regalia.

  • United Case Highlights Achilles’ Heel Of Fraud Prevention

    Joseph Moreno

    United Airlines recently paid a $2.4 million penalty to the U.S. Securities and Exchange Commission for failing to follow its own anti-corruption policies, underscoring the fact that even a perfectly designed internal control environment will not operate effectively when management can circumvent or ignore controls, say attorneys with Cadwalader Wickersham & Taft LLP.

  • Deciphering RJR Nabisco's 'Domestic Injury' Requirement

    Robert P. Reznick

    Since the U.S. Supreme Court's decision in RJR Nabisco v. European Union last year, courts have grappled with the ruling's articulation of the “domestic injury” requirement for private claims under the Racketeer Influenced and Corrupt Organizations Act, and their analyses and conclusions as to where an “injury” has occurred are all over the map, say attorneys at Orrick Herrington & Sutcliffe LLP.

  • Less Is More When Drafting 'All Assets' UCC-1 Descriptions

    Michael A. Karpen

    The Second Circuit sent a clear message with its recent decision in Ring v. First Niagara Bank — that secured creditors and their attorneys should exercise restraint in providing superfluous detail to “all assets” Uniform Commercial Code-1 collateral descriptions, say attorneys with Troutman Sanders LLP.

  • Punitive Damages: Post-Campbell, Questions Remain

    Allison Ebeck

    The U.S. Supreme Court has established a framework that requires a case-by-case, fact-based inquiry to gauge punitive damages. Procedural safeguards and substantive due process restrictions have been gradually imposed on punitive damage awards since such limitations were first considered in 1988. But approaches and results have been and remain inconsistent, says Allison Ebeck of Eckert Seamans Cherin & Mellott LLC.

  • Time To Reopen Some DOJ Antitrust Field Offices

    Robert E. Connolly

    President-elect Donald Trump has pledged to spend up to $1 trillion upgrading America’s infrastructure. To help ensure that money is spent free from corruption, the incoming administration should reopen at least two of the four Antitrust Division field offices that were shuttered in January 2013, says Robert Connolly of GeyerGorey LLP.

  • 2016 Environmental Case Law Highlights: Part 3

    Anthony B. Cavender

    The final article in this series reviews some of the most significant environmental cases of 2016 decided in the Tenth and Eleventh Circuits, as well as several state supreme courts. Anyone who reads these cases will be impressed by the painstaking approach these courts apply to some of the most vexing and complicated cases on their dockets, says Anthony Cavender of Pillsbury Winthrop Shaw Pittman LLP.

  • Talking 'Bull': Episode 10, E.J.

    Roy Futterman

    In this weekly column, real-life New York City jury consultant and psychologist Roy Futterman parses fact from fiction in "Bull," the new TV series airing on CBS about a fictional NYC jury consultant/psychologist. Spoiler alert ...

  • Court's Sensible Analysis Saves Banker Fees In Bankruptcy

    Michael Cook

    Thanks to a New York bankruptcy court’s sweeping opinion in Relativity Fashion, investment bankers now have powerful ammunition to resist a U.S. trustee’s attempt to second-guess a fixed-fee or contingent-fee retention under Bankruptcy Code Section 328(a), says Michael Cook of Schulte Roth & Zabel LLP.

  • 2016 Environmental Case Law Highlights: Part 2

    Anthony B. Cavender

    In part 2 of this three-part review of 2016's most significant environmental cases, Anthony Cavender of Pillsbury Winthrop Shaw Pittman LLP highlights decisions from the Fifth, Sixth, Seventh, Eighth and Ninth Circuits. In particular, these cases reflect issues common to the energy-producing states as well as additional Endangered Species Act decisions.