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April 16, 2024
Sheppard Mullin Adds Attys From Greenberg Traurig, Loeb & Loeb
Sheppard Mullin Richter & Hampton LLP has hired a labor and employment attorney in Houston from Greenberg Traurig LLP and an entertainment attorney in New York from Loeb & Loeb LLP, Sheppard Mullin announced Tuesday.
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April 16, 2024
Rochester, NY, Diocese's Creditors To Mull Rival Ch. 11 Plans
A New York bankruptcy judge sent a pair of competing Chapter 11 plans for the Roman Catholic Diocese of Rochester out Tuesday morning for creditor votes, after rejecting previous explanations of the proposals for being unclear about payouts to childhood sexual abuse survivors.
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April 16, 2024
Microsoft, OpenAI Say Intercept's IP Suit Should Be Axed
Microsoft and OpenAI have asked a Manhattan federal judge to dismiss a complaint by The Intercept accusing the companies of removing author and copyright information from material allegedly used to train ChatGPT, saying the publication lacks standing to sue because it has provided no evidence to support its claims.
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April 16, 2024
BigLaw Attys Among First 7 Jurors Picked In Trump's NY Trial
Two BigLaw attorneys on Tuesday were among seven people sworn in as jurors in Donald Trump's Manhattan hush money trial, which could proceed to opening statements as soon as Monday.
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April 16, 2024
Activist Axes $3.6B SilverBow Merger Plan Amid Proxy Fight
New York-based asset manager Kimmeridge said Tuesday it has scrapped its March offer to create a $3.6 billion Eagle Ford shale operator by combining the assets of Kimmeridge Texas Gas with those of shale driller SilverBow Resources, stating it will now focus on getting its three nominees elected to SilverBow's board.
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April 16, 2024
Cybersecurity-Focused PE Firm Secures $1.1B For 3rd Fund
Cybersecurity-focused private equity firm Evolution Equity Partners on Tuesday announced that it raised $1.1 billion of capital commitments for its third technology-focused fund, which will be used to back entrepreneurs building cybersecurity companies.
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April 16, 2024
Focus On Prosecutor Will Set Ga. Trump Jury Questions Apart
The jury questionnaire currently before hundreds of Manhattan residents in Donald Trump's first criminal trial will serve as a partial blueprint for his upcoming election interference case in Georgia, experts told Law360, with at least one significant difference: a sharp focus on the Fulton County case's high-profile, controversial prosecutor.
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April 16, 2024
Latham Adds 2 Simpson Thacher Attys To Its NY Office
Latham & Watkins LLP has added two attorneys from Simpson Thacher & Bartlett LLP for its New York office, one of whom joins as co-chair of its global hybrid capital practice.
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April 16, 2024
Moving Co. Execs Found Guilty In $7.7M Payroll Tax Scheme
The former president of a moving company and its head bookkeeper conspired to evade more than $7.7 million in federal payroll taxes, a New York federal jury has found.
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April 15, 2024
Taro Inks $36M Investor Deal Over Generics Price-Fixing
Taro Pharmaceutical Industries shareholders asked a New York federal judge Monday to greenlight a $36 million settlement resolving proposed class claims that the company misled investors about alleged generic drug price-fixing that led to a drop in stock price upon news of a U.S. Department of Justice antitrust investigation.
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April 15, 2024
SEC Scores Win In $119M Rochester, NY Muni Bond Suit
A New York federal judge on Monday granted an early win to the U.S. Securities and Exchange Commission on its claims against an advisory and its two principals who were involved in a $119 million bond offering by the city of Rochester, New York, saying the firm failed to disclose conflicts of interest present in its fee arrangements.
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April 15, 2024
Giuliani Can't Dodge $148M Defamation Verdict, Judge Says
A D.C. federal judge on Monday refused to disturb a jury verdict directing Rudy Giuliani to pay $148 million to two Georgia election workers whom he falsely accused of committing ballot fraud in the 2020 presidential election, saying the former New York City mayor and Trump ally hasn't offered any reason to modify the jurors' decision or hold a new trial.
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April 15, 2024
Barclays To Pay FINRA Fine Over Research Analysts Conflicts
Broker-dealer Barclays Capital Inc. will pay a $700,000 fine to the Financial Industry Regulatory Authority after it self-reported two issues involving alleged conflicts of interest on the part of its research analysts, FINRA has announced.
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April 15, 2024
Coinbase Wants 2nd Circ. To Weigh Crypto's Howey Question
Crypto exchange Coinbase has asked a Manhattan federal judge to send the question of whether digital assets meet the definition of investment contracts to the Second Circuit, challenging a March order that found the U.S. Securities and Exchange Commission had adequately pled that the platform offered securities.
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April 15, 2024
Model Bella Hadid Settles Photog's IP Suit Over Instagram Pic
A New York federal judge Monday dismissed a photographer's suit accusing Bella Hadid of copyright infringement over an image the supermodel republished onto her Instagram account four years ago after the photographer advised the court they've reached a settlement in principle with Hadid.
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April 15, 2024
Youth Sports Investment Group Bags Soccer, Baseball Cos.
Unrivaled Sports, a youth sports-focused investment group led by the owner of the NFL's Washington Commanders, NBA's Philadelphia 76ers and NHL's New Jersey Devils, is quickly building its portfolio since launching last month, with two acquisitions announced Monday and last week.
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April 15, 2024
Diocese Says Insurer Must Refund Sex Abuse Claims Defense
Certain underwriters at Lloyd's of London must pay defense expenses related to sexual abuse claims against the Roman Catholic Diocese of Rockville Centre, the diocese has told a New York court, maintaining that its bankruptcy proceedings do not relieve the insurer of reimbursement requirements.
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April 15, 2024
Feds Say $3.5M 'Cryptojacking' Scam Targeted Cloud Services
A Nebraska man defrauded two cloud computing services of $3.5 million and used the proceeds to mine an additional $1 million in cryptocurrency, Brooklyn federal prosecutors said Monday.
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April 15, 2024
Photog Beefs Up Copyright Suit Over Barry Sanders Statue
A photographer has added several new claims, including breach of contract, to his copyright lawsuit that accuses the Detroit Lions, the NFL and a host of other defendants of unlawfully using his photo to create a statue of legendary running back Barry Sanders.
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April 15, 2024
'Magician' Tax Preparer Arrested On $100M Fraud Charges
The owner of a New York tax preparation business who was known as "the magician" was arrested Monday on charges that he caused more than $100 million in tax losses to the government over a decade, according to the U.S. Department of Justice.
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April 15, 2024
Catching Up With Delaware's Chancery Court
Last week, Delaware justices mulled whether one Chancery Court vice chancellor properly voided four company bylaws — just as another vice chancellor voided one more. Fights among Truth Social investors continued, and shareholders launched new cases involving Macy's, United Airlines, and Clayton Dubilier & Rice LLC and Stone Point Capital LLC.
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April 15, 2024
Bond Co. Asks For Life-Saving Pause On $811M Fine
Immigration bonding company Libre by Nexus Inc. has begged a Virginia federal court for more time to pay an $811 million judgment for predatory bonding practices, saying it would collapse if forced to pay before it can execute its transfer to a new owner.
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April 15, 2024
Orrick Adds Kramer Levin Life Sciences Head In NY
The former head of Kramer Levin Naftalis & Frankel LLP's life sciences practice has jumped to the intellectual property litigation team at Orrick Herrington & Sutcliffe LLP in New York, Orrick said Monday.
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April 15, 2024
Feds Flag DNA, Bank Names On Menendez Cash Bundles
Federal prosecutors pursuing bribery charges against U.S. Sen. Robert Menendez have countered his bid to scrap evidence — such as gold bars and $10,000 cash bundles — from his upcoming trial, telling a New York federal judge that fingerprints, DNA and currency straps from banks where Menendez and his wife don't have accounts derail his claim that the money comes from personal savings.
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April 15, 2024
2nd Circ. Affirms Telecom Co.'s $13M Union Pension Bill
The Second Circuit upheld a New York federal court's determination that a telecommunications company owed $13 million in withdrawal liability to a multiemployer pension plan for electrical and contract workers, agreeing Monday with an arbitrator's finding that a construction industry exception didn't apply to the disputed work.
Expert Analysis
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Opinion
Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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1 Year In, Money Laundering Law Tweak May Have Big Impact
Despite receiving little attention, Congress' quiet extension of the statute of limitations for money laundering offenses involving foreign bribery offenses is a powerful prosecutorial tool that defense counsel can nevertheless counter by using certain pretrial challenges, says attorney Andrew Feldman.
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Why NYC Building Owners Shouldn't Ignore Emissions Rule
New rules from the New York City Department of Buildings clarify the previously vague good faith efforts that building owners may make to mitigate penalties for not complying with a major carbon emission law that takes effect in January, and should discourage owners from simply paying the fines instead of decarbonizing, says William McCracken at Moritt Hock.
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2nd Circ. Defamation Ruling May Chill NY Title IX Reports
The Second Circuit’s recent decision, holding accusers in Connecticut Title IX sexual misconduct cases are not immune to defamation claims, means that New York higher education institutions should reassess whether their disciplinary hearing procedures both protect due process and encourage victim and witness participation, says Nicole Donatich at Cullen and Dykman.
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Series
Writing Thriller Novels Makes Me A Better Lawyer
Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.
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What Lawyers Must Know About Calif. State Bar's AI Guidance
Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.
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Industry Must Elevate Native American Women Attys' Stories
The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.
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3 AI Regulation Developments Insurers Must Follow
Insurance regulators continue to actively develop regulations and guidance on the use of artificial intelligence, so insurers should be aware of recent developments from the Colorado Division of Insurance, the National Association of Insurance Commissioners and the New York Department of Financial Services, say attorneys at Willkie.
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New York Cybersecurity Amendments Raise Regulatory Bar
Financial service providers both in and outside New York should study recent changes to the state financial regulator's cybersecurity requirements, which add governance controls, technical safeguards and incident response protocols to improve what is already becoming the national benchmark for robust cybersecurity compliance programs, say attorneys at Baker McKenzie.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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5 Steps To Meet CFTC Remediation Expectations
After the U.S. Commodity Futures Trading Commission recently updated its enforcement policies, organizations should implement elements of effective remediation — from root-cause analyses to design effectiveness tests — to mitigate the risk of penalties and third-party oversight, say Jonny Frank and Chris Hoyle at StoneTurn Group.
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Asserting 'Presence-Of-Counsel' Defense In Securities Trials
As illustrated by the fraud trial of FTX founder Sam Bankman-Fried, defense attorneys in securities trials might consider arguing that counsel had some involvement in the conduct at issue — if the more formal advice-of-counsel defense is unavailable and circumstances allow for a privilege waiver, say Joseph Dever and Matthew Elkin at Cozen O'Connor.
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An Overview Of Circuit Courts' Interlocutory Motion Standards
The Federal Arbitration Act allows litigants to file an immediate appeal from an order declining to enforce an arbitration agreement, but the circuit courts differ on the specific requirements for the underlying order as well as which motion must be filed, as demonstrated in several 2023 decisions, says Kristen Mueller at Mueller Law.
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3 Rulings Illustrate Infringement Hurdles For Hip-Hop Plaintiffs
Three district court decisions dismissing hip-hop copyright claims recently came down in quick succession, indicating that plaintiffs face significant hurdles when they premise claims on the use of words, phrases and themes that are common in the genre, say Benjamin Halperin and Shiara Robinson at Cowan DeBaets.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.