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New York

  • December 6, 2018

    AmTrust Says Switching Auditors Doesn't Equal Fraud

    AmTrust Financial Services urged a New York federal judge Wednesday to toss a second amended complaint alleging its 2017 financial restatements led to a stock price drop for which it is now responsible, saying switching auditors and adhering to the new auditor's accounting standards is not securities fraud.

  • December 6, 2018

    FTC Fines NY Sports Owner For Failing To Report Stock Adds

    The Federal Trade Commission said Thursday that James L. Dolan, executive chairman of Madison Square Garden Co., the owner of the New York Knicks and Rangers franchises, has agreed to pay a $609,810 civil penalty for not reporting his acquisition of additional shares in the company.

  • December 6, 2018

    Ex-Sears CEO's Fund Submits $4.6B Ch. 11 Purchase Bid

    The hedge fund run by Sears Holding Corp. chairman and former CEO Eddie Lampert has said it will make a $4.6 billion offer to buy the bankrupt retail giant that the fund says would preserve about 500 stores and 50,000 jobs across the country.

  • December 6, 2018

    Odebrecht Says Bond Fraud Suit Can’t Continue Further

    Brazilian engineering conglomerate Odebrecht SA and two subsidiaries on Wednesday urged a New York federal judge to toss a fraud suit related to a far-reaching bribery scheme, arguing that the investment firm and funds suing them have not remedied defects that plagued the suit’s previous iterations.

  • December 6, 2018

    Bic Seeks To Put Out Knockoff Lighters At ITC, NY Court

    Bic Corp. has taken aim at several rivals accused of selling knockoff pocket lighters that infringe on its designs, urging the U.S. International Trade Commission to block imports from China and launching a trademark suit in New York federal court.

  • December 6, 2018

    Real Estate Rumors: Lewis Brisbois, Hamleys, Mercantil Bank

    Lewis Brisbois Bisgaard & Smith LLP is reportedly taking 24,000 additional square feet in downtown Los Angeles, British toy retailer Hamleys is said to be close to leasing roughly 30,000 square feet in New York from REIT SL Green and Mercantil Bank has reportedly loaned $10 million for a recent Florida industrial property purchase.

  • December 6, 2018

    REIT Blasts Investor's 'Meritless' Bid To Block Merger

    Select Income REIT challenged an investor’s “meritless” attempt to block its proposed merger with Government Properties REIT in New York federal court Wednesday, saying that the investor is merely following a recent trend of investor suits over company mergers and that he presents no real claim.

  • December 6, 2018

    Hyundai Drivers Seek Class Cert. In Sonata Brake Defect Suit

    Consumers asked a New York federal judge Wednesday to certify their proposed class action alleging Hyundai Motor America knowingly sold Sonata sedans with defective brakes, saying they were subjected to the same Hyundai misrepresentations and warranties so pursuing their claims as a class is warranted.

  • December 6, 2018

    Axis Needn't Cover Patriarch In SEC Probe, 2nd Circ. Affirms

    The Second Circuit on Thursday affirmed that Axis Insurance Co. doesn't owe Lynn Tilton's Patriarch Partners LLC $5 million to cover the costs of a U.S. Securities and Exchange Commission investigation and enforcement action, saying coverage is barred because Patriarch was aware the SEC had the firm in its crosshairs before the Axis policy went into effect.

  • December 6, 2018

    Ex-FIFA Official Free To Leave US After 3 Years In Hiding

    Rafael Salguero, a Guatemalan lawyer and former FIFA official who pled guilty to fraud, racketeering and money laundering offenses, was spared time in prison at his sentencing on Thursday, where he was revealed to have cooperated with prosecutors while living in hiding from potential threats for the past three years.

  • December 6, 2018

    Ex-Travel Finance Pro Gets 18 Months For $2.3M Theft Spree

    A Manhattan federal judge on Thursday sentenced former finance executive Randy Wang to 18 months in prison for using the corporate credit card of his former employer, OneWorld Management Co., to go on a $2.3 million electronics shopping spree, hiding the purchases and reselling the goods for cash.

  • December 6, 2018

    Hunton Andrews Steers Cross River's $100M KKR-Led Round

    Fintech-focused Cross River Bank said Thursday KKR & Co. LP led a recent funding round that brought in $100 million, with Hunton Andrews Kurth LLP guiding the New Jersey-chartered bank.

  • December 6, 2018

    Data-Driven Lawyer: Ogletree's Evan Moses

    Ogletree's Evan Moses uses unconventional strategies to boost the firepower of his class action practice, including a homegrown Monte Carlo algorithm, earning him a spot on our 2018 list of Data-Driven Lawyers.

  • December 6, 2018

    Orrick, Clifford Chance Guide $87.3M Financial News Deal

    U.K.-based business and financial magazine publisher Euromoney Institutional Investor PLC said on Thursday that it has agreed to buy The Deal LLC, which is made up of BoardEx and The Deal, from financial news and information provider The Street Inc. for $87.3 million, in a deal guided by Clifford Chance LLP and Orrick Herrington & Sutcliffe LLP.

  • December 5, 2018

    17 Women Sue Columbia Over OB-GYN's Alleged Abuse

    Seventeen women claim a former Columbia University obstetrician-gynecologist sexually abused them during appointments while the school did nothing to prevent the abuse spanning a period of more than 20 years, according to a suit filed Tuesday in New York state court.

  • December 5, 2018

    Techie, Pastor Ask 2nd Circ. To Ax Bitcoin Fraud Convictions

    A Florida tech expert and a New Jersey pastor urged the Second Circuit on Wednesday to reverse their convictions over a purported scheme to co-opt a small credit union into facilitating unlawful bitcoin transactions, citing errors with key witnesses.

  • December 5, 2018

    Medical Groups Back States In Association Health Plan Row

    The American Medical Association has told a D.C. federal judge that the U.S. Department of Labor's association health plan rule flies in the face of Affordable Care Act’s aim of trying to make sure patients across the country can get good, affordable health coverage.

  • December 5, 2018

    Deutsche Bank Settles BlackRock RMBS Suits

    Deutsche Bank has struck a deal with residential mortgage-backed securities investors including funds of BlackRock Inc. and other asset managers to settle their litigation in New York federal court and California state court over the bank’s handling of hundreds of RMBS trusts.

  • December 5, 2018

    Swanky NY Club Made Women, Not Men, Share Tips: Suit

    A former cocktail waitress at the Rose Bar, an exclusive Manhattan nightclub known for its celebrity clientele, said in a proposed class action filed Tuesday that the club’s management required the women — and only the women — to share their tips with male coworkers, telling the women it was because “you girls make too much money.”

  • December 5, 2018

    KPMG Ruling Casts Skeptical Light On Dukes Decision

    A footnote in a recent ruling rejecting class certification in a long-running pay equity suit against accounting giant KPMG posed an intriguing question: Does the U.S. Supreme Court's Wal-Mart v. Dukes decision have a blind spot when it comes to "implicit bias" and pay decisions?

Expert Analysis

  • Opinion

    Time To Reclaim Wellness For All Lawyers

    Leesa Klepper

    The decision last month by Baker McKenzie’s global chairman to step down due to exhaustion indicates that the legal profession needs to mount a broader wellness effort to address long hours, high stress, frequent travel and the daily demands of practice, says Leesa Klepper, director of Thrivewell Coaching.

  • Section 1782 Appeals Receive Stricter Scrutiny In SDNY

    Jonathan Tompkins

    To benefit from U.S.-style discovery in foreign proceedings, litigants have increasingly turned to 28 USC Section 1782. Federal courts, which impose a stringent test for personal jurisdiction, have been more lax in analyzing the statute's residency element, but four recent cases in the Southern District of New York buck this trend, says Jonathan Tompkins of Shearman & Sterling LLP.

  • Opinion

    AGs Are Now The 1st Round Draft Picks Of American Politics

    Joshua Spivak

    Given their recent track record and growing policy power, state attorneys general should be the group everyone is watching on Election Day. Chances are the winners of these races will move to higher offices soon enough, says Joshua Spivak, senior fellow at the Hugh L. Carey Institute for Government Reform at Wagner College.

  • Spotlight On Private Antitrust Enforcement At Seoul Forum

    James Robertson Martin

    At the 10th International Seoul Competition Forum, panelists discussed how private litigation can supplement public enforcement of antitrust laws, and explored how Korea, Hong Kong, China and Europe are all moving in the direction of U.S.-style private enforcement, but to varying degrees, says James Robertson Martin of Zelle LLP.

  • Lehman Highlights Challenges Of Cross-Border Settlements

    Jeffrey Murphy

    The Southern District of New York recently reversed a bankruptcy court order that disallowed and expunged claims against Lehman Brothers Holdings Inc. related to an English settlement. The case is a reminder that cross-border issues can affect the enforcement of U.S. guarantees, say attorneys with Dentons.

  • 2 Recent Decisions May Affect Your Cyber Policy

    Erin Illman

    Social engineering claims have often faced coverage denials under cyber or computer fraud insurance policies, but two circuit courts have reversed the trend in recent months. Combined with the legislative focus on cybersecurity and privacy at the federal level, these cases could mean big changes for cyber insurance, say Erin Illman and Alex Purvis of Bradley Arant Boult Cummings LLP.

  • State Anti-SLAPP In Federal Court: An Update From Texas

    April Farris

    Can litigants use the powerful Texas Citizens Participation Act in the Fifth Circuit? The upcoming decision in Klocke v. Watson is likely to resolve this question, but that answer could be short-lived if the U.S. Supreme Court resolves the circuit split over state anti-SLAPP applicability, say April Farris and Matthew Zorn of Yetter Coleman LLP.

  • NY Tax Minutes: October

    Timothy Noonan

    This month in NY Tax Minutes, Timothy Noonan and K. Craig Reilly of Hodgson Russ LLP discuss a new coalition fighting the SALT deduction cap, highlight a $30 million settlement in a tax whistleblower action against a hedge fund manager and review the draft amendments to the business corporation franchise tax.

  • Copyright Of 'Frankenstein': 5 Things To Know

    David Kluft

    ​This year marks the 200th anniversary of "Frankenstein," and Halloween is ​the perfect time to ​explore the horror novel's relationship to copyright law, says David Kluft of Foley Hoag LLP.

  • Protecting Law Firm Talent At Both Ends

    Susan Blakely

    By 2030, it is possible that 75 percent of lawyers practicing in the U.S. will be millennials. A broadened focus on retention and advancement of all young lawyers is therefore a logical step forward but it fails to address another major retention issue that law firms should explore, says Susan Smith Blakely of LegalPerspectives LLC.