New York

  • February 16, 2018

    Atty Botched Plea, Man Convicted Of Fraud Tells 2nd Circ.

    A man convicted in two separate multimillion-dollar fraud cases told the Second Circuit on Thursday that he suffered from ineffective counsel, saying his attorney never told him about a deal that would have consolidated his guilty pleas and potentially taken more than two years off his sentence.

  • February 16, 2018

    Experts Debate Larger Effects Of Losing SALT Deduction

    The uncapped state and local tax deduction offered benefits even to Americans who did not itemize and claim it, according to an analysis from an expert at the Urban-Brookings Tax Policy Center.

  • February 16, 2018

    Health Care-Focused Blank Check Co. Prices $250M IPO

    Blank check company DFB Healthcare Acquisitions Corp., formed by investment firm Deerfield Management and led by a longtime health insurance CEO, said it raised $250 million in an initial public offering Friday to support the intended acquisition of a health care business.

  • February 16, 2018

    FCC Halts Bitcoin Miner For Cell Network Interference

    The Federal Communications Commission said it has been forced to come down on a New York man whose operation of a bitcoin transaction monitor was interfering with T-Mobile’s cellular network.

  • February 16, 2018

    Newswire Hacker Can’t Beat $30M Securities Fraud Case

    A Brooklyn federal court rejected a former Morgan Stanley fund manager's request to trim his indictment for allegedly scheming to make $30 million by trading on information from stolen press releases, with the judge finding Friday the charges were sufficiently specific.

  • February 16, 2018

    Insurer Says Utah Bank, Finance Co. Can't Duck Award

    Allied World Assurance urged federal courts in Utah and New York on Thursday to confirm an international arbitration award against the Bank of Utah and a finance company valued at $424,392 and argued that the separate cases should not be consolidated.

  • February 16, 2018

    Weil's Role Part Of Probe Of Breitburn Conflict Claims

    A New York bankruptcy judge Friday said he would hold a hearing to address a Breitburn Energy Partners LP bondholder’s claim of conflicts of interest between a prospective stalking horse bidder, a Breitburn lienholder and Breitburn bankruptcy counsel Weil Gotshal & Manges LLP.

  • February 16, 2018

    Real Estate Rumors: RBC, Gramercy, Virgo Business Centers

    Royal Bank of Canada has reportedly loaned $236.6 million for a New York office property purchase, Gramercy Property Trust is said to have sold a Florida corporate center for $43.16 million and Virgo Business Centers is reportedly subleasing more than 42,000 square feet in Manhattan.

  • February 16, 2018

    Convicted Dewey Exec's SEC Deal Hinges On Criminal Appeal

    A settlement between the U.S. Securities and Exchange Commission and former Dewey & LeBoeuf LLP chief financial officer Joel Sanders, who was convicted of fraud, rests on the outcome of Sanders' criminal appeal, a Manhattan federal judge heard Friday.

  • February 16, 2018

    UBS Says CFTC Order Doesn't Goose Gold-Fix Claims

    UBS AG has told a New York federal court that the U.S. Commodity Futures Trading Commission’s consent order fining the Swiss bank $15 million over alleged spoofing does not bolster gold sellers’ claims that UBS was part of a conspiracy to manipulate a benchmark price of gold.

  • February 16, 2018

    Sidley Austin Lures Proxy Pro From Vinson & Elkins

    Sidley Austin has hired a mergers and acquisitions partner who founded and led Vinson & Elkins’ shareholder activism team and has been involved in more than 20 proxy contests.

  • February 16, 2018

    NY Atty Sues For Fees In $2.9M Bias Suit Settlement

    A New York attorney claims he is owed more than $385,000 in legal fees from a New Jersey lawyer stemming from their joint representation in an employee bias suit that settled for $2.9 million, but says the lawyer is using a Garden State loophole to render their fee-sharing agreement null, according to a complaint filed in New York state court.

  • February 16, 2018

    Ex-Allen & Overy Atty's Psych Exam Story Falls Flat

    Two New York state appeals judges scoffed at a fired Allen & Overy LLP attorney seeking to lift sanctions and revive her sexual harassment suit against the firm at a hearing Friday, hammering the attorney for cutting short a court-ordered psychiatric examination by threatening to have the doctor arrested.

  • February 16, 2018

    Judge Iffy On Spiking Bank’s $45M Fraud Suit Against Tilton

    A New York state judge expressed uncertainty at a hearing on Friday about whether she could consider a new motion to dismiss a German lender’s $45 million fraud suit against Lynn Tilton and her companies over its investments in two of her funds.

  • February 15, 2018

    Puerto Rico Electric Co. Denied Bid For Emergency Loan

    Access to electricity in Puerto Rico may be in short-term peril after a New York federal judge on Thursday denied the territory’s insolvent power utility access to $1 billion in emergency financing offered by the island’s central government, finding the superpriority lien attached to the loan unjustified.

  • February 17, 2018

    CORRECTED: Embedding Tweets Can Be Infringement, Judge Says

    A New York federal judge found Thursday that a slew of news organizations, including Yahoo, Time, The Boston Globe and Gannett, infringed a photographer’s copyrighted picture of NFL quarterback Tom Brady when they embedded tweets containing the image within articles on their websites. (Correction: An earlier story incorrectly described the underlying actions that constituted infringement. The error has been corrected.)

  • February 15, 2018

    6D Global Investors Say Derivative Suit Deal Is 'Worthless'

    Investors owning more than half of 6D Global Technologies Inc.’s stock have objected to a proposed settlement of derivative claims that the digital marketing company failed to stop a private equity firm’s CEO from manipulating its share price, telling a New York federal judge Wednesday that the corporate reforms spelled out in the deal are “utterly worthless.”

  • February 15, 2018

    Real Estate Rumors: Union Investment, ADME, Braintree

    Union Investment is reportedly buying a New York retail condo leased to Lexus for $88 million, A.D.M.E. Real Estate is said to have sold a Miami Beach assisted-living facility for nearly $18 million and mobile payment software firm Braintree is reportedly in talks with landlord Vornado Realty Trust for 40,000 additional square feet in Chicago.

  • February 15, 2018

    2 Long Island Mortgage Co. Execs Cop To $9M Fraud

    Two mortgage executives accused of lying to banks in order to obtain nearly $9 million in short-term loans for Long Island mortgage lender Vanguard Funding LLC admitted in New York federal court on Thursday to conspiring to commit wire and bank fraud, the Brooklyn U.S. Attorney’s Office said.

  • February 15, 2018

    2nd Circ. Rejects Citizens United Challenge To NY Donor Law

    A Second Circuit panel on Thursday upheld a New York state law forcing tax-exempt nonprofits to disclose their donors, nixing claims from conservative advocacy group Citizens United that the rule caused a “climate of fear” that could unconstitutionally stifle contributions.

Expert Analysis

  • Register Your California Cannabis Trademarks Now

    Joshua Cohen

    Any cannabis business that is holding its breath waiting for the U.S. Patent and Trademark Office to start registering cannabis-related trademarks should give up. But those located in states that have legalized recreational and/or medicinal cannabis should immediately seek state trademark registration where available, says Joshua Cohen, leader of Wendel Rosen Black & Dean LLP's intellectual property group.

  • How Emerging Sources Of ESI Will Impact Discovery

    Charles McGee

    Late last year, the Sedona Conference released the third edition of its principles addressing electronic document production, updated to account for innovations like Snapchat and Twitter. It may be necessary for these principles to be updated more often in order to keep pace with technology, says Charles McGee III of Murphy & McGonigle LLP.

  • 3 Mass. Proposals Signal A New Wave Of Offshore Wind

    Tommy Beaudreau

    Three companies recently submitted bids in response to the request for proposal issued by Massachusetts electric distribution companies, in coordination with the Massachusetts Department of Energy Resources, for offshore wind energy generation projects off the coast of Massachusetts. The stage is set for 2018 to be a breakthrough year in U.S. offshore wind development, say attorneys with Latham & Watkins LLP.

  • Put The Brakes On Acceleration Bay Litigation Funder Ruling

    David Gallagher

    Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF.

  • Some Pointers For Stressed And Distressed Charitable Orgs

    James Vincequerra

    There is speculation that the Tax Cuts and Jobs Act will have the unintended consequence of less charitable giving in 2018 and beyond. Administrators of not-for-profit charitable organizations may need to take a hard look at restructuring operations, say James Vincequerra and Gerard Catalanello of Alston & Bird LLP.

  • 2nd Circ. Courts Dive Into 'Class Arbitration' Questions

    Gilbert Samberg

    The U.S. Supreme Court has not yet addressed core issues that will ultimately determine the viability of a class arbitration award, nor have the various courts of appeal grappled with those issues. However, courts in the Second Circuit have recently begun to do so, says Gilbert Samberg of Mintz Levin Cohn Ferris Glovsky and Popeo PC.

  • Considerations For Attorneys Using Artificial Intelligence

    Ben Allgrove

    Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.

  • Health Republic’s Curious Liquidation: Part 14

    James Veach

    On Feb. 14, Health Republic Insurance of New York's liquidator will ask the New York Supreme Court to approve its report on the present status of its liquidation, but it is what the report doesn't discuss that will be most revealing, says James Veach of Mound Cotton Wollan & Greengrass LLP in the final part of this series.

  • Tips For Drafting Contractual Nonreliance Clauses

    Amy Park

    Contractual nonreliance provisions, sometimes called “big boy” letters, have received their fair share of attention, but little attention has been paid to the effect forum selection and choice-of-law issues have on such provisions. The choice of where to litigate and which law will govern can significantly impact, if not conclusively determine, the outcome of a dispute, say Amy Park and Niels Melius of Skadden Arps Slate Meagher & Flom LLP.

  • Series

    Judging A Book: Duncan Reviews 'Justice And Empathy'

    Judge Allyson Duncan

    In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed​. But the question of how the judiciary might conform to Burt’s expectations raises practical problems​, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit. ​