The ex-CEO of American Realty Capital Properties told his then-financial chief which line of a U.S. Securities and Exchange Commission filing to finagle so a key earnings metric would match the company’s investor guidance, the government’s star witness testified Monday in the former CFO's New York federal fraud trial.
Manhattan prosecutors on Monday announced the indictment of three art dealers who sold around $400,000 worth of counterfeit Damien Hirst artworks, one of whom previously went to prison for the same scheme.
A creditor of in-store media provider Muzak and parent company Mood Media told a New York bankruptcy court on Friday that the companies' bid for Chapter 15 protection should fail to the extent that it will disrupt pending patent infringement claims potentially worth up to $130 million.
Justice Sonia Sotomayor discusses the one thing she hates seeing at oral arguments, why diversity matters on the federal bench, and her habit of embracing audience members at live talks, in the first of two articles based on an exclusive interview with the 111th justice.
The heirs of comedy duo Abbott and Costello on Monday said they shouldn’t owe attorneys’ fees for filing a failed copyright suit over a Broadway play’s use of the famous “Who’s on First?” routine, saying the judge’s analysis of the reasonableness of their case was based on hindsight.
Federal prosecutors Monday ripped controversial ex-pharma executive Martin Shkreli for trying to reduce his bail by millions of dollars while spouting off about his money ahead of a health care securities fraud trial, but his own lawyer said not to believe everything his client says on social media.
The $1.6 billion Penn Station redevelopment project is set to move forward as developers Related Companies and Vornado Realty LP and construction firm Skanska AB finalized the financial arrangements of the deal, New York Gov. Andrew M. Cuomo has announced.
The federally appointed board overseeing Puerto Rico's restructuring is facing heat over its proposal to appoint independent agents to resolve competing claims over the territory’s sales tax revenues, as bondholders and insurers complained Friday that the agent selection process is flawed.
Meal kit delivery startup and so-called unicorn Blue Apron Inc. served up plans for a $480 million initial public offering on Monday, leading a hearty plate of seven deals across the biotech, banking and technology sectors that have launched since Friday.
Federal securities regulators sued liquidating alternative energy company Arista Power Inc. in New York federal court on Monday, saying it lied in public filings and for months tried to manipulate its own stock price.
Venable LLP has hired as a partner the former director of the U.S. Department of Justice’s consumer protection branch, where he led a team charged with enforcing criminal and civil federal statutes related to financial fraud and food, drug and medical device safety, the firm said Monday.
A New York federal judge refused Monday to vacate her dismissal of a proposed class action accusing HSBC Bank of failing to warn customers about late-payment penalty charges, calling the customers' reconsideration arguments “flat-out wrong.”
Various stakeholders of bankrupt ticket reseller and alleged Ponzi scheme vehicle National Events Holdings LLC have pushed back hard against a recent attempt by one creditor to lift the automatic stay and liquidate the debtor’s $5.8 million in remaining assets, calling the move premature and “grossly unfair.”
An ex-King & Spalding associate who has accused the firm of wrongfully firing him for raising ethical concerns about partners representing ZTE Corp. never communicated that he thought anyone had engaged in misconduct, the firm said in a Friday filing in New York federal court.
Highland Capital Management LP, a bee in the bonnet of bankrupt driller Ocean Rig UDW, told a New York bankruptcy judge on Friday that it's decided to hold its tongue as to whether Ocean Rig's parallel Caymans bankruptcy proceedings are main or nonmain — a question in Ocean Rig's Chapter 15 — and has called off scheduled depositions and hearings.
Pension funds represented by Robbins Geller Rudman & Dowd LLP will lead the investors bringing three proposed stock-drop class actions against insurance firm Amtrust Financial Services Inc. that were consolidated in New York federal court Monday.
Sheppard Mullin Richter & Hampton LLP has nabbed a new partner in its entertainment and digital media practice from Hughes Hubbard & Reed LLP, where the veteran transaction attorney advised media giants like Viacom on everything from asset exchanges to monetizing disruptive technologies.
President Donald Trump was never far from the center of attention Monday morning at the New York City Bar Association’s Diversity and Inclusion Conference, the organization’s third annual symposium on attorneys’ responsibilities not only as litigants and activists but also as colleagues and community members.
Clean energy firm Pattern Energy Group Inc. said Monday that a fund backed by energy-focused private equity firm Riverstone Holdings LLC will provide the bulk of a $724 million investment in new project development and that Canadian pension manager PSP Investments is acquiring a stake in the company.
The Manhattan federal judge overseeing the billion-dollar real estate seizure effort targeting an Iran-linked charity warned Monday against cherry-picking quotes from the often-irresolute testimony of a noted Islamic economist who was the treasurer of the charity when it allegedly violated U.S. sanctions.
The U.S. Supreme Court has reduced the giant oak that is Rule 10b-5 to a stump with one withered branch — the narrow scope of liability under Rule 10b-5(b). The court must retrace its steps back to Affiliated Ute, which recently turned 45 and was the court's last decision before it adopted the false star Blue Chip Stamps, says Gary Aguirre, a former staff attorney at the U.S. Securities and Exchange Commission.
How is it possible that an employee who used nasty language when referring to his supervisor on Facebook is protected, while an employee who yelled directly at his manager using similar verbiage is not? There are several key distinctions that help explain the vastly different outcomes in each case, say attorneys with Nixon Peabody.
Most law firms today aren't using common security and data protection measures that other industries employ to protect sensitive data. Options like continuous data replication and backups have various pros and cons, but most importantly, law practices must understand the need for a two-tiered approach to data protection, says Jeff Ton of Bluelock LLC.
As social media continues to expand, the legal issues that inevitably follow growth have begun to arise, and courts have found themselves struggling to adapt. One new challenge facing employers, employees and courts is the effect of social media on the traditional nonsolicitation agreement, say James Patton Jr. and Tae Phillips of Ogletree Deakins Nash Smoak & Stewart PC.
Justice Neil Gorsuch joined the U.S. Supreme Court a little more than 30 days ago, on April 7, 2017. And while it is too early for him to have written any opinions, Gorsuch participated in the final 13 oral arguments of the 2016 term. Charles Webber of Faegre Baker Daniels LLP offers five takeaways from his first month on the job.
Although the end often comes quickly, law firms do not fail overnight. Randy Evans of Dentons and Elizabeth Whitney of Swiss Re Corporate Solutions review five mistakes that expedite law firm failures.
This month, the Federal Circuit reversed a decision of noninfringement in Braintree v. Breckenridge, providing further guidance in the recent body of decisions under the Hatch-Waxman scheme regarding when proposed drug labeling evidences intent to induce patent infringement, say attorneys with Paul Hastings LLP.
The protections in New York City’s “Freelance Isn’t Free Act” have been described as “the first of their kind in the country,” and may be a harbinger of what’s to come. As national attention on the gig economy intensifies, we anticipate similar laws in other jurisdictions, say attorneys with Gibson Dunn & Crutcher LLP.
States considering whether to enforce existing cybersecurity rules more aggressively, or else pass standards of their own, should carefully consider the policy rationale and potential pitfalls of existing frameworks and collaborate with private experts to determine what works and what does not, say David Forscey of the National Governors Association, and Steven Cash and Benjamin Nissim of Day Pitney LLP.
Last week's $250,000 settlement between MoneyGram’s ex-chief compliance officer and the Financial Crimes Enforcement Network resolving alleged anti-money laundering compliance violations appears to be the largest penalty FinCEN has ever imposed on an individual. The first lesson that comes from this resolution is that financial institutions need to empower their AML compliance officers, say attorneys with Crowell & Moring LLP.