New York

  • May 09, 2024

    Davis Polk, Simpson Thacher Drive EV Maker's $441M IPO

    Chinese electrical vehicle maker Zeekr on Thursday priced an upsized $441 million initial public offering, represented by Davis Polk & Wardwell LLP and underwriters' counsel Simpson Thacher & Bartlett LLP, marking the largest U.S. IPO by a China-based company since 2021.

  • May 09, 2024

    SEC Sues 3 Penny Stock Firms Over Failure To Register

    The U.S. Securities and Exchange Commission has filed suit against a Long Island man and his three companies, accusing them of violating registration provisions of federal securities law in connection with a $75 million penny stock scheme.

  • May 09, 2024

    Attys Want $102M In Fees In Stock Loan Antitrust Deal

    Quinn Emanuel Urquhart & Sullivan LLP and Cohen Milstein Sellers & Toll PLLC attorneys asked for $102 million in fees for settling claims from investors that major banks colluded to avoid modernizing the stock loan market, saying the long and complex nature of the case warrants the payout.

  • May 09, 2024

    US Bank Sees Unauthorized Account Suit Tossed For Good

    A New York federal judge has permanently thrown out a proposed class action against U.S. Bancorp alleging shareholders were harmed after the bank paid a $37.5 million fine to the Consumer Financial Protection Bureau in connection with allegations its bankers secretly opened accounts in customers' names.

  • May 09, 2024

    Chinese Tycoon In $500M Debt To Investors To Be Released

    A Chinese cinema magnate who owes his investors more than $500 million will no longer be detained on immigration and campaign donor fraud charges, a New York federal court ruled Thursday.

  • May 09, 2024

    Tesla Illegally Imposed Tech Policy In Buffalo, NLRB GC Says

    National Labor Relations Board prosecutors accused Tesla of having an illegal policy to dissuade workers from unionizing at its Buffalo, New York, manufacturing plant, according to a copy of the complaint obtained by Law360 on Thursday, with agency prosecutors seeking a nationwide posting of workers' rights.

  • May 09, 2024

    NYC Wins Remand Of Climate Deception Suit Against Exxon

    A New York federal judge on Wednesday returned to state court the Big Apple's lawsuit alleging Exxon, BP, Shell and the American Petroleum Institute violated a city consumer protection law by systematically deceiving the public about the climate change impacts of their operations.

  • May 09, 2024

    Skadden-Led Firm Nets $250M In May's Second SPAC Listing

    GP-Act III Acquisition Corp., a Skadden-led special-purpose acquisition company backed by multiple private investment firms, began trading on Thursday after completing a $250 million initial public offering, marking the second SPAC listing this month in an otherwise battered market.

  • May 09, 2024

    CFTC Moves For Win Over Gemini's 'Misleading' Statements

    The U.S. Commodity Futures Trading Commission has told a New York federal judge there's no need to try claims that Gemini Trust Co. LLC misled the regulator on a bitcoin futures contract since discovery "confirmed" that the cryptocurrency exchange made "scores of materially false or misleading statements and omissions."

  • May 09, 2024

    Policies Bar Origis Investor Suit Coverage, Del. Judge Finds

    A Delaware Superior Court judge dismissed most insurers from a renewable energy company and its now-former CEO's action seeking coverage for an underlying investor suit over devalued shares, saying Thursday that a "no action" clause in one set of policies and a prior acts exclusion in another preclude coverage.

  • May 09, 2024

    Masimo Makes Offer To End Activist Politan's Proxy Contest

    Medical technology company Masimo Corp. revealed Thursday that it is willing to appoint one of the director nominees put forth by activist investment firm Politan Capital Management LP in exchange for the company dropping its proxy fight, though Politan signaled distaste with the proposed deal.

  • May 09, 2024

    Syracuse Diocese Creditors Urge Contempt On Insurer Leaks

    Unsecured creditors of the bankrupt Roman Catholic Diocese of Syracuse have asked a New York judge to hold insurers Interstate and an affiliate of Allianz in contempt for sharing confidential sex abuse survivors' claim information with third parties and failing to inform the debtor or the court.

  • May 09, 2024

    Sen. Menendez's 2nd Bribery Trial: All You Need To Know

    In the wake of a 2017 mistrial on bribery charges, U.S. Sen. Robert Menendez reaffirmed his dedication to public service and vowed never to stop fighting for the people of New Jersey.

  • May 09, 2024

    A Senator's Path From NJ Politics To Corruption Charges

    U.S. Sen. Robert Menendez, the son of Cuban immigrants who climbed the political ladder from the ranks of a New Jersey school board to ultimately become chairman of the Senate Foreign Relations Committee, is defending his reputation and career against federal corruption charges for the second time in less than a decade.

  • May 09, 2024

    Coverage Recap: Day 10 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments to porn star Stormy Daniels ahead of the 2016 election. Here's a recap from day 10.

  • May 09, 2024

    Mobile Carriers Pay $10M To End 50 AGs' Deceptive Ad Claims

    A coalition of nearly all the country's state attorneys general on Thursday announced $10.25 million in settlements that AT&T, Verizon and T-Mobile have agreed to pay to end a multistate probe into the wireless carriers' allegedly misleading advertising practices.

  • May 09, 2024

    6th Circ. Nominee Sparks Debate Over Blue Slips

    Four judicial nominees were approved by the Senate Judiciary Committee on Thursday, including a Sixth Circuit nominee who has come under fire from Republicans for ethics accusations and whose nomination sparked a larger debate about the lack of blue slips for appellate nominees.

  • May 09, 2024

    Ex-Celtic 'Big Baby' Gets 40 Mos. In Health Fraud Case

    Former Boston Celtics forward Glen "Big Baby" Davis was sentenced to 40 months in prison Thursday after being convicted for his role in a scheme to submit fraudulent invoices to an NBA healthcare plan.

  • May 09, 2024

    Trump SPAC Investor Convicted Of Insider Trading

    A Manhattan federal jury on Thursday convicted a Florida investment pro of securities fraud and conspiracy for allegedly exploiting confidential plans to take Donald Trump's media company Truth Social public in a $23 million insider trading case.

  • May 09, 2024

    NYC Denies IVF Coverage To Gay Male Workers, Court Told

    New York City unlawfully discriminates against gay male employees by refusing to cover in vitro fertilization under its healthcare plan while providing heterosexual and lesbian workers with those benefits, according to a proposed class action filed Thursday in federal court.

  • May 09, 2024

    Sam Ash Music Hits Ch. 11, Plans To End 100-Year Retail Run

    Sam Ash Music, a 100-year-old music instrument retailer, filed for Chapter 11 protection in New Jersey bankruptcy court with up to $500 million in debt and plans to close its 42 stores in the U.S., citing weakened sales as customers shifted to online shopping during the COVID-19 pandemic.

  • May 08, 2024

    AGs Blast Federal Data Privacy Law's Proposed State Override

    California joined attorneys general from more than a dozen other states and Washington, D.C., on Wednesday to urge Congress to ensure that proposed federal data privacy legislation sets a "floor, not a ceiling" that would preserve more stringent protections states have enacted and allow them to add new laws to address rapid technological developments. 

  • May 08, 2024

    NY AG Says $6M NRA Verdict Should Stand

    A New York state court should not undo a jury's finding that the National Rifle Association allowed its officers to misappropriate $6.4 million of donor money, the state's attorney general has argued, saying trial evidence abundantly laid out evidence of misconduct and organizational failures.

  • May 08, 2024

    Google Fights Subpoena On Texas Amid Ad Tech MDL

    Google is urging a New York federal judge overseeing sweeping multidistrict litigation over the tech giant's alleged monopoly in digital advertising to stamp out a subpoena seeking discovery from Texas in related litigation in the Lone Star State.

  • May 08, 2024

    Water-Damaged Conn. Hotel Sues Insurer For More Coverage

    A Connecticut hotel took Sompo America Insurance Co. to state court after the insurer only partially covered substantial water damage that forced the newly opened lodge's closure and purportedly offered "nonsensical" justifications for denying full coverage.

Expert Analysis

  • Sex Harassment Arbitration Exemption: Devil Is In The Date

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    A Federal Arbitration Act amendment that exempts workplace sexual harassment claims from arbitration is muddled in ongoing confusion about its chronological reach — and as many such cases begin to run up against applicable statutes of limitations, the clock is ticking for claimants to bring their actions in court, says Abe Melamed at Signature Resolution.

  • Cybersecurity Issues For Financial Industry To Track In 2024

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    In 2024 financial institutions will confront new federal, state and industry regulations around cybersecurity that require additional procedures, enhanced proactive security measures, and timely disclosure of security incidents, say Alex Koskey and Matt White at Baker Donelson.

  • 4 Ways The DOJ Is Changing Its Approach To Insider Trading

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    The U.S. Department of Justice’s recent increased focus on insider trading cases and the manner in which the DOJ is pursuing prosecutions reflect a break from historical practices and signal that the DOJ is branching into new areas to pursue perceived illicit trading activities, say attorneys at Davis Wright.

  • After Headwinds, 2024 May See Offshore Wind Momentum

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    Despite skyrocketing raw material costs, conflicting state and federal policies, and other setbacks for the offshore wind sector in 2023, the industry appears poised for growth in the coming year, with improving economics, more flexible procurement procedures and increasing legislative support, say Emily Huggins Jones and Ben Cowan at Locke Lord.

  • How State AGs Process And Prioritize Consumer Complaints

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    Recent state attorneys general actions illustrate how their offices triage, monitor and respond to consumer complaints — and why businesses need to be proactive in addressing these issues as they arise, say Meghan Stoppel and Hannah Cornett Land at Cozen O'Connor.

  • 10 Considerations For Litigating A New York Tax Case

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    While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.

  • 5 Trends That Will Affect Food Litigation In 2024

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    In 2024, food and beverage companies are likely to continue to face threats of litigation relating to so-called forever chemicals, citric and malic acid, and ESG claims, but recent developments in case law have created potential avenues for defense, say Abby Meyer and Khirin Bunker at Sheppard Mullin.

  • Charting The Course For Digital Assets In 2024

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    Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

  • The Most-Read Legal Industry Law360 Guest Articles Of 2023

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    A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.

  • Inside Higher Education's New FCA Liability Challenges

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    As the educational sector expands its use of government funding, schools are at increased risk under the False Claims Act, but recent settlements offer valuable lessons about new theories of liability they may face and specific procedures to reduce their exposure, say James Zelenay and Jeremy Ochsenbein at Gibson Dunn.

  • How SEC And NY Cyber Reporting Rules Affect Key Industries

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    The new U.S. Securities and Exchange Commission and New York State Department of Financial Services cybersecurity disclosure requirements, and their competing obligations, reveal the increasing complexity for organizations evaluating and reacting to cybersecurity incidents — particularly those in the healthcare and financial services industries, say attorneys at Manatt.

  • NY Wrongful Death Law Revamp Retains Original's Drawbacks

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    If approved by New York Gov. Kathy Hochul, the Grieving Families Act will transform the landscape of wrongful death law in New York by increasing the potential for damages, raising insurance premiums, burdening hospitals and courts, stifling the economy and subjecting parties to the unsettling effects of retroactive legislation, say attorneys at Shaub Ahmuty.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • In The World Of Legal Ethics, 10 Trends To Note From 2023

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    Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.

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