Private equity firm Colony Capital is no longer in talks with The Weinstein Co. about a potential deal, a source familiar with the discussions said Wednesday, ending a potential lifeline for the film studio as it faces instability after firing co-chairman Harvey Weinstein amid a series of sexual assault and harassment accusations.
Acting Comptroller of the Currency Keith Noreika on Wednesday said that he expects to release proposed changes to the Volcker Rule, the Dodd-Frank Act’s ban on proprietary trading, in the spring.
A Justice Department attorney asked the Ninth Circuit at a hearing Tuesday to block orders by California and New York federal judges requiring it to produce a broad range of internal documents detailing how the government decided to phase out the Deferred Action for Childhood Arrivals program, saying the orders are unduly burdensome.
McDonald’s Corp. is lying to its customers about what they’re actually buying when they purchase the fast-food chain’s chicken breast filet sandwiches, salads and wraps, according to a proposed class action in New York on Tuesday alleging the premium-priced products also include rib meat.
Defense attorneys in a New York federal trial over an alleged bribe paid to former New York City correction union boss Norman Seabrook for investing union money in Murray Huberfeld's now-defunct Platinum Partners LP told the jury in summations that alleged payoff was for the government’s star witness, not the union leader.
“Cowboy” venture capitalist Darren Blanton, an early investor in a doomed hedge fund belonging to Martin Shkreli, told jurors Tuesday in the trial of Shkreli’s former Katten Muchin attorney that he never had any real talks with the lawyer about an allegedly fraudulent settlement deal with the now-jailed former pharmaceutical executive.
A Bermuda company that recently prevailed in arbitration over a satellite sale that was later nixed by Korean regulatory authorities asked a New York federal court Monday not to vacate its award, saying the decision — from which there was a lengthy dissent by arbitrator Gary Born — is final.
A New York federal judge on Tuesday sent to arbitration a suit brought by a proposed class of consumers over issues with Showtime Networks Inc.’s online stream of the August fight between Floyd Mayweather Jr. and Conor McGregor, ruling that the arbitration clause was visible to those purchasing the fight.
A New York federal judge on Tuesday handed down a 30-month prison sentence to a would-be hedge fund founder who pled guilty to a fraud conspiracy charge over allegations he solicited investments in his fund Matrix Capital by touting a stellar track record that didn't exist.
A Virginia man who orchestrated a $100 million market manipulation scheme that netted him just $4,000 pled guilty Tuesday to securities fraud in a case that accused him of posing as an executive for a Chinese company and tendering a phony offer for all of Fitbit’s stock.
Specialty pharmaceutical company Insys Therapeutics Inc. has urged a New York federal court to toss a proposed class action accusing it of seeking to cover up declining revenues from its fentanyl-based pain medication Subsys, saying that the investors behind the suit are making a mountain out of a molehill.
A putative class of patients arguing that a data breach at bankrupt cancer treatment center operator 21st Century Oncology exposed their personal information told a New York bankruptcy court on Monday that allowing them to file a class action claim would be best for all concerned.
The NFL on Monday urged a New York federal judge to move forward with its case seeking to uphold the suspension of Dallas Cowboys running back Ezekiel Elliott for domestic violence, even as the players union has appealed to the Second Circuit to keep Elliott on the field.
Fox News Channel contributor Ed Butowsky is pushing for sanctions against an attorney who represents a private investigator suing him and the network over a retracted story, claiming the lawyer filed the litigation just to create a media circus.
The Federal Deposit Insurance Corp. asked a Manhattan federal court Monday to keep the agency’s updated legal claims against several investment banks fully intact for their roles in selling risky residential mortgage-backed securities to Alabama’s since-failed Colonial Bank.
Uber Technologies Inc. told a New York federal court on Monday that the customer accusing the ride-hailing service of price-fixing can't raise the issue of his phone's keypad obscuring a hyperlink to the terms of service at this point in the case because he should have known about it all along.
A Third Circuit panel has postponed a case brought by Pennsylvania landowners over the Delaware River Basin Commission's moratorium on fracking after an attorney representing the commission fainted Tuesday during oral arguments.
Continental Realty is said to have bought a Florida retail center for $21.3 million, Bank of America has reportedly loaned $51 million for a New York Park Avenue property, and Estate Investments Group is said to have landed $52 million in financing for a Florida apartment project.
Pillsbury Winthrop Shaw Pittman LLP has said a deal attorney who's represented big names in the private equity, daily fantasy sports and pharmaceutical industries has joined the firm as a partner in its New York office.
Chadbourne & Parke LLP and three female ex-partners behind a proposed New York federal class action accusing the firm of underpaying women sparred in a joint letter Tuesday on the women’s request to search named firm leaders’ personal emails, splitting on whether accounts must be used for “business” to be discoverable.
In a largely unheralded development, New York state recently authorized state courts to seal nonviolent criminal convictions that are more than 10 years old. The statute, one of the most expansive record-sealing provisions in the nation, represents an abrupt and dramatic about-face for New York, says attorney David Gourevitch.
A proposed $19.1 million deal to settle wage-related class claims affecting up to 28,800 employees of TGI Friday's was big news. Big news, that is, until a New York federal court quickly sent the parties back to the drawing board. The proposed settlement and the court’s reaction to it point up a number of hot spots in wage and hour suits, says David Miller of Bryant Miller Olive.
Judge Shira Scheindlin recently published an op-ed in The New York Times discussing the statistical truth that law firms have poor representation of female attorneys as first-chair trial lawyers. Backed by data collected by the New York State Bar Association, Judge Scheindlin’s observation is not merely anecdotal. But it doesn’t have to be inevitable, says Sarah Rathke, a partner and trial lawyer at Squire Patton Boggs LLP.
I'm not saying the charges filed last month against 10 individuals in a college basketball corruption scheme are legally flawed — not all of them, anyway. But I do question whether bringing multiple felony charges on these facts is sound exercise of prosecutorial discretion, says Randall Eliason, a former federal prosecutor.
Powers of attorney offer lenders rights in connection with a fund’s ability to call capital contributions from investors. Drafted properly, POAs can provide a lender with the ability to take immediate action after a triggering event, such as an event of default, say attorneys with Mayer Brown LLP.
Financial Crisis Anniversary
State attorneys general have worked with the Consumer Financial Protection Bureau, other federal agencies and each other to take on issues deemed to be the fallout of the financial crisis that started 10 years ago. But unlike the CFPB, the jurisdiction of which is limited, the AGs have assumed a wider reach, say former Maryland Attorney General Douglas Gansler and Michelle Rogers of Buckley Sandler LLP.
It is unclear how successful the U.S. Commodity Futures Trading Commission's newly announced policy will be in motivating firms to self-report when they know they will face a costly, disruptive and potentially open-ended enforcement investigation before receiving the benefit of a penalty reduction, say attorneys with Latham & Watkins LLP.
Manufacturing facilities that produced and used perfluorinated chemicals are already targets of plaintiffs attorneys. Now, current and former military aviation installations may be next, as these military sites could be subject to Clean Water Act litigation risk concerning PFCs used in firefighting foam, say Seth Kerschner of White & Case LLP and Zachary Griefen of the Conservation Law Foundation.
If conducted properly, depositions can be a powerful tool. At times, though, opposing counsel employ tactics to impede the examiner’s ability to obtain unfiltered, proper testimony from the deponent. By knowing and effectively using applicable rules and case law, however, deposing attorneys can take specific steps to combat these tactics, say attorneys with Ogletree Deakins Nash Smoak & Stewart PC.
With an admirable purpose and unanimous support in Congress, the Holocaust Expropriated Art Recovery Act should be a rare legislative success. Instead, the act’s convoluted language will only lead to more litigation and debates over timeliness of claims, say Covington & Burling LLP partner Simon Frankel and Third Circuit clerk Sari Sharoni.