A Second Circuit judge hearing the appeal of a $3.5 million summary judgment in favor of New York University in a breach of contract dispute between the school and drugmaker Galderma Laboratories Inc. told the parties Wednesday that U.S. District Judge Alvin K. Hellerstein made a “crystal clear mistake” of New York law in deciding the case.
Commerzbank AG urged a New York judge on Tuesday not to rethink his allowing its claims over the Bank of New York Mellon’s oversight of residential mortgage-backed securities to proceed, saying BNY Mellon cannot point to anything the judge overlooked.
A proposed class of Celadon Group Inc. investors on Wednesday alleged in New York federal court that the commercial trucking business exaggerated a joint venture contribution and hid a U.S. Securities and Exchange Commission investigation, causing stock drops when both issues came to light.
The New Jersey Appellate Division on Wednesday said a workers' compensation claim against Raymours Furniture Co. Inc. could proceed in New Jersey in connection with an injury that occurred in New York, because the employee lives in the Garden State and he accepted his job while speaking by phone there.
A Florida-based power-generating company has initiated an arbitration against Australia over the alleged improper taking of its interest in a power facility, according to documents filed in New York federal court Tuesday, and it's asking for assistance in obtaining certain relevant evidence.
A former JPMorgan executive who claims the bank fired her for flagging possible fraud has urged a New York federal judge to rethink rescinding an order that an anonymous bank client will be identified at trial and may be called to testify, saying the judge’s initial logic was sound.
A New York investment firm and its co-founder inflated their assets under management by tens of millions of dollars and touted a nonexistent fund to induce investments from prospective clients, according to a lawsuit filed by the U.S. Securities and Exchange Commission.
Former Retrophin Inc. CEO Martin Shkreli and his ex-Katten Muchin Rosenman LLP attorney will be tried separately, a Brooklyn federal judge ruled Wednesday, citing a “a serious risk” that Shkreli wouldn’t receive a constitutionally fair trial in a joint proceeding.
Eight utility companies on Tuesday said that newly bankrupt Westinghouse Electric Co. LLC — which just tapped $350 million in financing — will be too broke to pay its power bills within two months, and asked a New York bankruptcy court to quadruple planned deposits.
The parent company of Fox News cut ties with star news anchor Bill O’Reilly on Wednesday amid allegations that he sexually harassed multiple female colleagues over a period of years, making him the second high-profile Fox News figure to be shown the door since July, when former CEO Roger Ailes departed in the wake of his own harassment controversy.
After an infamous earnings restatement and charges against two former executives, American Realty Capital Properties Inc. was sued Tuesday in New York federal court by three insurance companies that say their $60 million investment tanked following the disaster.
Marketing company Sailthru has reportedly leased 27,320 square feet at One World Trade Center, Abacus Capital is said to have dropped $68.2 million on a Florida apartment complex and German bank Helaba has reportedly loaned $232 million for two New York properties that have hotel and retail components.
The New York Police Department is viewing the death of New York associate appellate judge Sheila Abdus-Salaam as “suspicious,” confirming Wednesday that although there is no evidence of criminality, more information is needed to uncover the cause and events leading up to her death.
Attorneys for SAC Capital Advisors LP slammed a bid by a lead investor in a settled class suit to receive roughly $760,000 in compensation for his role assisting counsel, arguing in a recent New York federal court filing that the request was "excessive" and "extraordinary."
Several insurers fighting Bear Stearns successor JPMorgan Chase & Co. over who will ultimately pay $140 million that the investment bank paid the U.S. Securities and Exchange Commission to settle a probe in 2006 had their defenses totally rejected by a New York state judge on Monday.
Attorneys for the artist Richard Prince asked a New York federal judge Tuesday to dismiss a copyright infringement suit based on photos he pulled from Instagram, saying his “appropriation art” was transformative and therefore permissible fair use, thanks to a previous, similar copyright suit where he prevailed.
A unit of hedge fund Black Diamond Capital Management LLC on Tuesday urged a New York judge to find Barclays PLC liable in a roughly $300 million dispute over whether or not it defaulted on a derivatives contract in the height of the 2008 financial crisis, as the long-awaited bench trial kicked off.
A former Madoff investor was blocked Monday from appealing orders to turn over bank records to the liquidating trustee for the failed investment firm, as a New York federal judge said Monday that the situation didn’t meet clear standards for an appeal.
Investors asked the Second Circuit to reinstate class allegations Tuesday that JPMorgan Chase & Co. employees aided and abetted Bernie Madoff’s Ponzi scheme, saying even though the investors were net winners in the fraud, they had legitimate claims that were not time-barred.
At the conclusion of a hearing Tuesday over whether MF Global's excess insurers should be able to send a coverage dispute to arbitration in Bermuda, a New York bankruptcy judge urged the sides to settle the underlying issue through mediation, saying the matter “cries out to be resolved.”
The most successful Am Law 200 law firms have evolved from being partner-run to being run by a group of highly skilled professionals reporting to firm shareholders. The data collected from our recent survey indicates this model is generally conducive to increased profitability, says Anita Turner, senior director at Colliers International.
The best outside counsel think like the client. That includes understanding the client’s perspectives and goals with regard to reaching a settlement — because “good results” mean different things for different clients. Outside counsel must ask themselves the right questions, and know the answers, to shape a client-focused settlement strategy, say Kate Jackson of Cummins Inc. and Patrick Reilly of Faegre Baker Daniels LLP.
Republican party leaders have long said they believe Medicaid is fiscally unsustainable and a spending cap is necessary to fix its finances. The American Health Care Act, introduced by Republican House leadership last week, finally puts those ambitions into official legislative language, says Miranda Franco of Holland & Knight LLP.
The glaring misperception created by the mere filing of MF Global’s case against PricewaterhouseCoopers is that the audit firm had or should have some responsibility for MF Global's collapse. In addition, certain hallmarks of a framework for a potential claim against accounting firms are absent here, says Jacob Frenkel of Dickinson Wright PLLC.
Commercial leases in New York often contain a rent acceleration clause, which provides a landlord relief after the termination of a lease due to a tenant's uncured default. Recently, courts have started to scrutinize the enforceability, scope and effect of these clauses, so they should be carefully written to avoid provisions that would allow a landlord to "double-dip" in the event of a breach, say Eric Sherman and Meghan Hill of P... (continued)
A bill recently introduced in the New York State Assembly would repeal the state’s version of the Uniform Fraudulent Conveyance Act and replace it with the Uniform Voidable Transaction Act. Adoption of the UVTA would be an important step in ensuring that New York law remains the gold standard in commercial contracts, says Patrick Fitzmaurice of Troutman Sanders LLP.
President Donald Trump’s recent executive order banning travel to the U.S. by certain people from several Muslim-majority countries, and the related preliminary injunctive orders, are directly related to concepts of immigration law. However, the temporary restraining order mechanism available under Federal Rule of Civil Procedure 65(b) is relevant to many practitioners, say attorneys at Skadden Arps Slate Meagher & Flom LLP.
When associates contemplate a potential lateral move, there is a common misconception that all law firms are the same. It may seem that one law firm is just like the next, but if you dig deeper, you may discover unique attributes at some firms that may be more appealing and improve your professional satisfaction significantly, says Darin Morgan of Major Lindsey & Africa.
Nerves were high on the day of the trial. While technically client interests were not at stake, our reputations were still on the line. We were not only presenting our case in front of our newly acquainted colleagues, but also for partners at our firm, expert witnesses, federal judges and in-house counsel — potential employers and clients, say attorneys with Dentons, sharing their recent mock trial experience.
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 ...