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May 16, 2024
Olo Investor Sues In Chancery To Stop Raine Group Takeover
A shareholder in New York online food-ordering company Olo Inc. sued its officers, directors and largest stockholder in Delaware's Court of Chancery on Wednesday, alleging the board had approved a stock buyback program that would hand control of the company to its largest shareholder for no consideration.
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May 16, 2024
Colombian Consumer Lender Hits Ch. 11 To Trim $55M Of Debt
Colombian consumer lending giant Credivalores-Crediservicios filed for bankruptcy in New York on Thursday, with a prepackaged Chapter 11 plan to cut $55 million from its balance sheet and emerge from bankruptcy next month.
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May 16, 2024
3 Firms Assist As AIG Sells $3.8B Corebridge Stake To Nippon
Latham & Watkins LLP is guiding Japan's Nippon Life Insurance Co. on a new deal to buy 120 million shares of Corebridge Financial Inc. common stock from AIG for $3.8 billion, with Debevoise & Plimpton LLP guiding Corebridge and Wachtell Lipton Rosen & Katz representing AIG, the purveyors of insurance products said Thursday.
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May 16, 2024
Faegre Drinker Hires NY Life Insurance Co. Litigator
Faegre Drinker Biddle & Reath LLP has hired the former assistant general counsel for the New York Life Insurance Co., who joins the firm in New York, to continue representing insurer clients in a range of matters, the firm announced Thursday.
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May 16, 2024
Menendez Bribery Case Criminalizes Gifts, Jury Told
Prosecutors are trying to criminalize friendship, gifts and advocacy, the counsel for one of U.S. Sen. Robert Menendez's co-defendants said Thursday in an opening statement in the corruption trial in Manhattan federal court.
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May 16, 2024
Siemens Selling Innomotics Unit To PE Firm KPS In $3.8B Deal
German tech conglomerate Siemens AG said Thursday it has agreed to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners at an enterprise value of €3.5 billion, or roughly $3.8 billion.
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May 15, 2024
Trump Taking Criminal Gag Order Appeal To NY's High Court
Former president Donald Trump wants New York's highest court to review a gag order intended to stop him from criticizing witnesses and others involved in his criminal fraud trial, according to a docket entry Wednesday, just a day after a lower appellate court refused to overturn the order.
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May 15, 2024
SolarWinds Says SEC's Cyber Breach Suit Goes Too Far
SolarWinds Corp. on Wednesday asked a Manhattan federal judge to throw out the U.S. Securities and Exchange Commission's suit accusing the enterprise software company of deceiving investors about its lax cybersecurity, which left it open to a Russian hacking campaign.
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May 15, 2024
Bolt Financial Cancels $37M In Shares To End CEO Loan Suit
Bolt Financial Inc. will cancel over $37 million in shares to settle a derivative suit against the company's board of directors that accuses its former CEO of purposely defaulting on a $30 million loan, according to a filing in Delaware's Court of Chancery.
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May 15, 2024
Insurer Says Security Co. Not Covered For Nightclub Injuries
A security services company is not owed coverage for three underlying personal injury lawsuits stemming from multiple shooting and stabbing incidents at a Florida gentlemen's club, an insurer told a New York federal court, stating its policies exclude coverage for injuries sustained at clubs and assault.
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May 15, 2024
Chancery Nixes BuzzFeed Worker Arbitration Bid
Delaware's Court of Chancery dismissed from an arbitration access dispute on Wednesday 85 BuzzFeed Media Enterprises employees who sued for arbitration of a stock conversion right, rejecting claims that company employment agreements require Delaware courts to handle the issue.
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May 15, 2024
2nd Circ. Calls Starbucks' Union Discovery Order 'Overbroad'
The Second Circuit on Wednesday revived the National Labor Relations Board's suit seeking to halt Starbucks' alleged labor violations nationwide, finding that the lower court erred in tossing the suit for noncompliance with its "overbroad" discovery order granting the coffee chain's subpoenas seeking confidential union intel and workers' communications.
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May 15, 2024
2nd Circ. Revives Removal Fight Over Judge's Lack Of Analysis
An immigrant facing removal despite fearing a drug cartel's torture back home got another shot to fight deportation, after the Second Circuit ruled that an immigration judge didn't adequately explain why short shrift was given to the immigrant's expert witness.
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May 15, 2024
Feds Urge Prison For Convicted Baby Formula Fraudster
Urging the judge to communicate the gravity of white collar crime, federal prosecutors in New York asked Wednesday that a Staten Island man get at least 2.25 years in prison after he pled guilty to forging baby formula prescriptions as part of a scheme to defraud insurers of $1.9 million.
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May 15, 2024
Schulte Roth Adds Ex-Kleinberg Kaplan Partner To Tax Group
Schulte Roth & Zabel LLP added a former Kleinberg Kaplan Wolff & Cohen PC partner with a focus on private investment funds to its tax group in New York.
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May 15, 2024
Knicks Owner Must Face Sexual Assault Suit, Accuser Says
A massage therapist has urged a California federal court to not let New York Knicks owner James Dolan out of her lawsuit accusing him of coercing her into a sexual relationship, saying she sufficiently claimed that he forced himself on her despite her refusals.
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May 15, 2024
DoorDash Inks Deal To End NY AG's Conviction Bias Claims
DoorDash has reached a settlement with New York Attorney General Letitia James to resolve allegations that the food delivery platform regularly rejected applicants with criminal histories without considering factors such as the nature of the conviction and its bearing on the job sought, the law enforcement official's office announced Wednesday.
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May 15, 2024
NY Magistrate Judge, SD Law Partner OK'd For District Courts
The Senate voted 51-42 on Wednesday to confirm Magistrate Judge Sanket Jayshukh Bulsara to the Eastern District of New York and 61-33 to confirm Eric C. Schulte, partner at Davenport Evans Hurwitz & Smith LLP, to the District of South Dakota.
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May 15, 2024
Seyfarth Shaw Adds Corporate Pro From Hogan Lovells
Seyfarth Shaw LLP has brought on a new corporate partner with more than 30 years of BigLaw advisory experience amid the firm's continuing corporate department growth in New York.
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May 15, 2024
Brothers Stole $25M Of Crypto In 12 Seconds, Feds Say
Two Massachusetts Institute of Technology-educated brothers were charged with orchestrating a first-of-its-kind cryptocurrency heist that allowed them to siphon virtual tokens worth around $25 million from Ethereum blockchain users within just 12 seconds, an indictment unsealed Wednesday said.
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May 15, 2024
'Where's Bob?' Nowhere Near Wife's Gold Bars, Jury Hears
Sen. Robert Menendez and his future wife weren't living together when an alleged bribery scheme took root six years ago and continued residing mostly apart after they married, he in Washington, D.C., and she in her New Jersey home that had a closet filled with gold bars and cash, jurors heard Wednesday.
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May 15, 2024
Ex-FTX Exec Seeks Leniency, Saying He Was Kept In The Dark
A former top FTX official has asked a Manhattan federal judge for a lenient 18-month sentence, saying he was not part of company co-founder Sam Bankman-Fried's inner circle and was as shocked as everyone else to learn that the crypto exchange was operating a fraud that siphoned billions in customer funds.
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May 15, 2024
Kaufman Dolowich Lands Insurance Duo From London Fischer
Kaufman Dolowich LLP has added two professional liability partners from London Fischer LLP, the firm said Wednesday.
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May 15, 2024
AI Job Recruiter Joonko Blames CEO Fraud For Ch. 11 Filing
AI-powered employee recruitment venture Joonko Diversity Inc. has filed for Chapter 11 protection in a Delaware bankruptcy court, saying its business had rested almost entirely on fraudulent claims made by its ex-CEO.
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May 15, 2024
Photographer Sues De La Hoya's Co. Over Lennox Lewis Pic
A photographer has sued Oscar De La Hoya's boxing promotion business, its parent company, and Getty Images US for allegedly using a photo of former heavyweight champion Lennox Lewis without his permission.
Expert Analysis
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Think Like A Lawyer: Follow The Iron Rule Of Trial Logic
Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.
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Court Clerk Error Is No Excuse For A Missed Deadline
Two recent Virginia Court of Appeals decisions in which clerical errors led to untimely filings illustrate that court clerks can be wrong about filing deadlines or the date an order was entered, underscoring the importance of doing one's own research on filing requirements, says Juli Porto at Blankingship & Keith.
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Circuit Split Brews Over Who's A Securities Seller Under Act
A Securities Act section that creates private liability for the sale of an unregistered security is rapidly becoming a favored statute for plaintiffs to wield against participants in both the digital asset and traditional securities markets, but the circuit courts have diverged on who may be held liable for these violations, say Jeffrey L. Steinfeld and Daniel Aronsohn at Winston & Strawn.
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Banks Have Won Syndicated Loan Battle, But Not The War
Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.
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Potential Unintended Consequences Of NY Sovereign Debt Bill
New York lawmakers recently proposed a law to create a framework for restructuring sovereign debt, but there are concerns that the bill will increase financing costs and that it attempts to solve problems that have largely been dealt with by collective action clauses, say Jeffrey Rothleder and Tara Peramatukorn at Squire Patton.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Exploring A New Era Of IP Law Amid The Rise Of Generative AI
Attorneys at Hogan Lovells explore the effects of generative artificial intelligence in three areas of intellectual property, recent updates and emerging trends, and its significance on the IP landscape now and moving forward.
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McKesson May Change How AKS-Based FCA Claims Are Pled
The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.
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5 Employer Actions Now Risky After Justices' Title VII Ruling
Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Teach Your Party Representative The Art Of Nonverbal Cues
As illustrated by recent reports about President Donald Trump’s nonverbal communication in court, jurors notice what’s happening at counsel table, which may color their perceptions of the case as a whole, so trial attorneys should teach party representatives to self-monitor their nonverbal behaviors, says Clint Townson at Townson Consulting.
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Bracing For The CFPB's War On Mortgage Fees
As the Consumer Financial Protection Bureau homes in on the legality of certain residential mortgage fees, the industry should consult the bureau's steady stream of consumer lending guidance for hints on its priorities, say Nanci Weissgold and Melissa Malpass at Alston & Bird.
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Top 10 Queries For Insurers Entering Surplus Lines Market
John Emmanuel at Locke Lord discusses what insurers should understand before entering into the surplus lines market, a growing, state-regulated area, subject to much variation in application and enforcement.
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Considering CGL Defense For Social Media Addiction Claims
A recent lawsuit filed in California state court against Meta seeks damages from technology companies for the costs of treating children allegedly suffering from social media addiction, but the prospects of defense coverage under commercial general liability insurance policies for a potential new wave of claims look promising, say Craig Hirsch and Tae Andrews at Pasich.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.