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New York

  • September 12, 2018

    Judge Tells SEC, Firm To Talk It Out In Tribal Bond Doc Fight

    A Manhattan federal judge expressed frustration at a hearing Wednesday with the U.S. Securities and Exchange Commission and an investment firm that has been fighting the regulator's subpoena for documents related to an alleged tribal bond scheme, saying the parties should just talk instead of litigating the issue further.

  • September 12, 2018

    Ex-Deutsche Traders Fire Back At Gov't Bid To Nix Experts

    Two former Deutsche Bank traders accused of rigging the London Interbank Offered Rate urged a New York federal court to deny the federal government’s motion to exclude the expert testimony of two men that they argue will show the bankers' trading positions did not benefit them at the expense of others.

  • September 12, 2018

    Web.com Hit With Investor Suit Over $2B Siris Merger

    An investor filed a proposed class action against Web.com Group Inc. in Delaware federal court claiming the company failed to provide enough information for shareholders to vote on a roughly $2 billion merger deal proposed with private equity firm Siris Capital Group LLC.

  • September 11, 2018

    How A 'Lost Generation' Of Associates Bounced Back

    Caught in a whirlwind of firm dissolutions and layoffs, thousands of associates were thrust into one of the worst job markets in history a decade ago. While some have rebounded, others are still feeling the lingering effects of the financial crisis on their careers.

  • September 11, 2018

    Feds Nab First-Ever FATCA Conviction With Bank Exec's Plea

    The former head business officer and CEO of offshore Loyal Bank Ltd. on Tuesday admitted to setting up multiple opaque bank accounts for a purported stock fraudster in order to evade detection by U.S. authorities in violation of the Foreign Account Tax Compliance Act, the first conviction of its kind.

  • September 11, 2018

    Anthem Unit To Face Fiduciary Claims In Benefits Denial Suit

    An Anthem Inc. subsidiary must face allegations that it breached its fiduciary duties under the Employee Retirement Income Security Act with an exclusion for so-called wilderness therapy treatment, a New York federal judge ruled Tuesday, though the judge tossed the claims seeking to recover benefits from the insurer.

  • September 11, 2018

    Nigerian Gets 5 Years For Global Business Email Scam

    A Manhattan federal judge sentenced a Nigerian national to five years in prison Monday for a lengthy campaign of emailing businesses around the world to extract payments after remarking that the defendant would potentially be able to resume lawbreaking after leaving federal prison and being deported.

  • September 11, 2018

    M&T Bank Must Face Trimmed ERISA Suit, NY Court Rules

    M&T Bank Corp. must face a pared-down proposed class action accusing it of improperly stuffing its 401(k) plan with its own costly investment products, a New York federal judge ruled Tuesday, trimming certain Employee Retirement Income Security Act claims and a company from the suit but preserving other claims.

  • September 11, 2018

    NY Investment Firm, SEC Settle For $1M Over Note Losses

    A New York-based investment firm agreed to a nearly $1 million settlement Tuesday with the U.S. Securities and Exchange Commission that the agency will use to reimburse retail investors for their losses on a complex leveraged note the SEC says the firm recommended to them without reasonable basis.

  • September 11, 2018

    Real Estate Rumors: Blackstone, Ronald Haft, BMO Harris

    The Blackstone Group is reportedly buying a Queens apartment complex for nearly $500 million, real estate investor Ronald Haft is said to have paid $3,700 per square foot for a Miami Beach penthouse, and BMO Harris Bank is reportedly in talks to pre-lease as much as 500,000 square feet at a proposed Chicago tower.

  • September 11, 2018

    Nine West Offers To End Takeover Suit For $470M, Court Told

    An unsecured noteholders group in the Nine West Holdings Chapter 11 case told a New York bankruptcy court Monday that it has been told the company has offered to settle any estate claims against Sycamore Partners and KKR Capital Management for $470 million.

  • September 11, 2018

    NYU Workers Appeal ERISA Class Action Loss To 2nd Circ.

    A class of New York University workers have appealed to the Second Circuit their recent loss in an Employee Retirement Income Security Act case, seeking another shot in the suit claiming the school's two employee retirement plans were mismanaged to the tune of $358 million in losses.

  • September 11, 2018

    AT&T Wins Fees Suit Against 'Sham' Telecom Cos.

    A New York federal judge on Monday handed a victory to AT&T in a long-running case brought by allegedly sham telecom companies who had accused it of not paying them fees to which they were entitled.

  • September 11, 2018

    PTAB Guts Subway TV System Patent In Kawasaki Challenge

    The Patent Trial and Appeal Board delivered a win to Kawasaki Rail Car Inc. on Monday, invalidating much of what remained in a patent the company has been accused of infringing with rail cars made for New York City subway and New Jersey transit systems.

  • September 11, 2018

    Arnold & Porter Guides LoanCore REIT On $182M NYC Loan

    Arnold & Porter represented LoanCore Capital Credit REIT LLC in connection with its $182 million loan to Katsky Korins LLP-counseled APF Properties LLC for the real estate company's recent purchase of an office tower on Madison Avenue in Manhattan, according to records made public in New York on Tuesday.

  • September 11, 2018

    Jailed Chinese Billionaire Gets Back Most Of $20M Cash Bail

    The U.S. government returned $17.2 million to imprisoned billionaire Ng Lap Seng on Tuesday, cutting a check for most of the $20 million the Chinese real estate magnate pledged in 2015 as part of a massive bail package in the run-up to his bribery conviction.

  • September 11, 2018

    Ex-King & Spalding Associate's Atty Let Out Of Firing Suit

    A New York federal judge on Tuesday let an attorney cease representing an ex-King & Spalding LLP associate the attorney has accused of dodging bills and refusing his advice on how to handle an unfair-termination suit against the firm.

  • September 11, 2018

    Kind Fights Bid To Restart Snack Bar False Labeling Suit

    Kind LLC asked a New York federal court to hit the snooze button on multidistrict litigation alleging its snack products are mislabeled as "non-GMO" and "all natural," saying the consumers' argument that the stayed case should be restarted due to regulatory foot-dragging was without factual basis.

  • September 11, 2018

    HBC Merges Europe Retail Ops With Germany’s Karstadt

    Canadian retailer Hudson’s Bay Co. on Tuesday said it has inked a deal to merge its European retail operations with Karstadt Warenhaus GmbH and to form a German real estate joint venture with the German department store chain’s owner Signa Retail Holdings.

  • September 11, 2018

    Bristol-Myers Looks To Ax Investor Suit Over Clinical Trial

    Bristol-Myers Squibb asked a New York federal judge on Tuesday to toss a proposed class action alleging it misled investors about the clinical trial patients for its new lung cancer drug, saying the investors have yet to show a material misstatement or omission made by the company.

Expert Analysis

  • 2 Strikes And You’re Out: The Litvak Saga Comes To An End

    Joon Kim

    The U.S. Attorney’s Office for the District of Connecticut, following reversals of two prior convictions, has moved to dismiss its remaining securities fraud claim against bond trader Jesse Litvak. While it can be difficult to prove misstatements are material as a matter of law, the government's move is certainly not a death knell for similarly grounded fraud charges, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • When Antitrust Conspiracy Cases Merit Summary Judgment

    George Gordon

    The Second Circuit's recent ruling in Anderson News v. American Media clarifies the application of summary judgment standards in antitrust conspiracy cases, including with respect to how record and expert evidence is analyzed, say George Gordon and Thomas Miller of Dechert LLP.

  • Series

    Clerking For Ginsburg: 4 RBG Lessons On Having It All

    Rachel Wainer Apter

    Justice Ruth Bader Ginsburg is everything she is cracked up to be​ — f​eminist icon​, brilliant jurist​, fierce dissenter. She is also an incredible boss, mentor and friend.​ ​Her advice has shaped how I have tried to balance building a career and ​raising children, says Rachel Wainer Apter, counsel to the New Jersey attorney general.

  • Does The Word 'Will' Clearly Accelerate A NY Mortgage Debt?

    Diana Eng

    Currently, there is a split in New York appellate authority over whether a notice of default using the words “will be accelerated" clearly and unequivocally accelerates a mortgage debt upon the expiration of the cure period. Mortgage servicers and other financial institutions would benefit from adjudication of this heavily litigated gray area by the state’s highest court, say Diana Eng and Andrea Roberts of Blank Rome LLP.

  • Series

    Clerking For Ginsburg: How To Play The Long Game

    Arun Subramanian

    One of us was a clerk when Justice Ruth Bader Ginsburg read her Ledbetter dissent from the bench, inviting Congress to act, and the other clerked a few years later, when RBG's prominently displayed copy of the Lilly Ledbetter Fair Pay Act served as a daily reminder that dissents are not just for show, say Arun Subramanian and Mark Musico of Susman Godfrey LLP.

  • 'Ban The Box' Turns 20: Decoding The Current Framework

    Stephen Woods

    Twenty years ago, the first state "ban the box" law crystallized a movement that, in time, would yield similar background check restrictions across the U.S. The result is a crisscrossing jumble of requirements, putting employers in a difficult position when dealing with applicants in different jurisdictions, say attorneys with Ogletree Deakins Nash Smoak & Stewart PC.

  • Series

    Clerking For Ginsburg: In Pursuit Of Precision

    Trevor Morrison

    As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.

  • NY Offshore Wind Plan Spotlights Jones Act Compliance

    Charlie Papavizas

    Last month, New York Gov. Andrew Cuomo announced an ambitious offshore wind power plan. But to succeed, the plan must comply with the many restrictions of the Jones Act, a federal law that reserves U.S. domestic maritime trade to U.S.-built vessels owned and operated by Americans, says Charlie Papavizas of Winston & Strawn LLP.

  • The State Of Play For Retaliation Claims

    Amy Strauss

    The number of retaliation charges received by the U.S. Equal Employment Opportunity Commission in recent years has steadily been increasing. It's clear that this issue is bubbling closer to the surface, and it may be even more challenging for employers than the underlying discrimination from which it usually springs, says Amy Strauss of Fisher Phillips.

  • Opinion

    Judges Shouldn't Force Attorneys On Absent Class Members

    J.B. Heaton

    U.S. District Judge Manish Shah of the Northern District of Illinois recently said he will consider lead firms’ willingness to put young and diverse attorneys in positions to take substantive roles in the multidistrict litigation he is overseeing. This is an improper use of judicial power, says J.B. Heaton, a University of Chicago business law fellow and former partner at Bartlit Beck.