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New York

  • June 19, 2018

    5 Investment Advisers Ran $102M Ponzi Scheme, SEC Says

    The U.S. Securities and Exchange Commission on Tuesday said it has secured an asset freeze against five investment advisers and three companies for allegedly conning at least 637 investors over several years through $102 million Ponzi scheme.

  • June 19, 2018

    Bloomberg, Workers Move For $54.5M Settlement In OT Suit

    Bloomberg LP and a class of help desk representatives moved for a $54.5 million settlement in New York federal court Tuesday in a suit alleging the company wrongfully excluded them from overtime pay, according to the joint motion for settlement.

  • June 19, 2018

    NY Plans Suit Over Family Separations At Border

    New York Gov. Andrew Cuomo said Tuesday that he and several Empire State government agencies plan to sue President Donald Trump’s administration alleging constitutional rights violations for the migrant children pouring into federal shelters in the state.

  • June 19, 2018

    'Silk Road' Laptop Said To Have Dirt On Alleged Sidekick

    A Canadian man on Tuesday denied helping incarcerated Silk Road founder Ross Ulbricht run his infamous web bazaar for illegal drugs, and a prosecutor told the Manhattan federal judge overseeing the case that the government will use chats from Ulbricht's seized laptop in its effort to convict his alleged right-hand man.

  • June 19, 2018

    Dental Startup Beats Big Distributors' False Ad Claims

    A startup dental supply company exaggerated its ability to offer lower prices than two larger distributor rivals, but they didn’t show that consumers would have cared, a New York federal judge ruled Monday in axing the rivals’ claims.

  • June 19, 2018

    HSBC Loses Stay Protection In China Fishery Ch. 11 Probe

    A New York bankruptcy judge Monday ended a stay on discovery by the trustee overseeing China Fishery Group Ltd.'s Chapter 11 inquiry into HSBC’s debt collection efforts against the company a month after the Second Circuit turned down HSBC’s attempt to stop it.

  • June 19, 2018

    US Trustee Challenges Navillus' Ch. 11 Equity Auction

    The federal bankruptcy watchdog on Tuesday blasted construction heavyweight Navillus Tile Inc.’s plan to auction off its equity with a $500,000 opening bid, saying the proposed bidding procedures give too much protection to the stalking horse bidder — who is also Navillus’ CEO.

  • June 19, 2018

    ICE Prevails In Bid To Block Pause Of Activist's Deportation

    A New York federal judge denied a bid by free speech advocate groups to stop removal proceedings against a prominent immigration activist Tuesday, agreeing with U.S. Immigration and Customs Enforcement that the REAL ID Act stripped district courts of the jurisdiction to halt deportations.

  • June 19, 2018

    Real Estate Rumors: Beacon, Grand Peaks, Isaac Schwartz

    Beacon Capital is reportedly close to a deal to buy a Chicago office tower for $182 million, Grand Peaks Properties is said to have dropped $65.6 million on a Florida apartment complex, and developer Isaac Schwartz has reportedly landed a $55 million loan for a Brooklyn residential and retail project.

  • June 19, 2018

    High Court's Vitamin C Ruling Leaves Work For Lower Courts

    The U.S. Supreme Court ruled in an antitrust case over Chinese vitamin C exports that U.S. courts are not bound by another country's description of its own laws, but the justices only provided a few hints about how much weight to give competing evidence about what a foreign law requires, leaving trial courts to parse the deference due in future cases.

  • June 19, 2018

    2nd Circ. Frees Ex-HSBC Forex Exec While Appeal Plays Out

    The Second Circuit on Tuesday ordered former HSBC foreign currency exchange executive Mark Johnson released from prison on bail pending appeal of his conviction for defrauding Cairn Energy PLC in a $3.5 billion currency deal, hours after he argued that his post-conviction international travel and compliance with court orders show he’s not a flight risk.

  • June 19, 2018

    Former Top Attys, State AGs Condemn Family Separations

    A flood of condemnation over the Trump administration’s new “zero tolerance” immigration policy that’s left nearly 2,000 children separated from their parents at the border poured in on Monday and Tuesday from former U.S. attorneys and state attorneys general who called for an end to the “cruel and illegal attack” on immigrant families.

  • June 19, 2018

    NLRB Validates NY Charter Worker's Union Decert Petition

    A National Labor Relations Board official has concluded that a Charter Communications Inc. employee could file a petition to decertify a union’s representation of workers in New York City since he was no longer a supervisor at the time the petition was filed, according to a decision issued Monday. 

  • June 19, 2018

    Verizon Didn't Fire Worker For Backing Union, DC Circ. Says

    The D.C. Circuit on Tuesday threw out a National Labor Relations Board decision to reinstate a Verizon employee fired for lying during an internal investigation, finding that the company didn't target her for being a union supporter.

  • June 19, 2018

    Bahamas Man's NYC Meetings Trigger Fraud Claims: 2nd Circ.

    A judge erred in dismissing federal securities fraud claims against a Bahamian businessman accused by a U.S. backer of filching $343,000 from him, the Second Circuit held Tuesday, finding that their New York City meetings to discuss restaurant investing triggered jurisdiction in Manhattan federal court.

  • June 19, 2018

    Military Contractors Who Sold Co. Win $70M Earnout Fight

    The owners of a military contracting firm who sold the company to GardaWorld Corp. persuaded a New York judge to rule in their favor Tuesday in a contract dispute that could trigger up to $70 million in earnout payments, with the judge saying there’s “no question” that the contract favored them.

  • June 19, 2018

    Union Bosses Sat On Sex Harassment Charge: NY Carpenters

    Two members of a carpenters union told a New York federal court Monday that the union's leadership didn't inform members about allegations that the union president had sexually harassed a female employee until after he won re-election in December.

  • June 19, 2018

    Cadwalader Regulatory Atty Decamps For Debevoise

    Debevoise & Plimpton LLP has bolstered its banking group with a regulatory lawyer from Cadwalader Wickersham & Taft LLP who counseled the International Swaps and Derivatives Association when it rolled out compliance tools for companies to use in the wake of Dodd-Frank, the firm has announced.

  • June 19, 2018

    SEC Sues NY Man Over $11.5M Microcap Co. Stock Scheme

    The U.S. Securities and Exchange Commission accused a Bronxville businessman of manipulating microcap company Plandai Biotechnology Inc.’s stock price in a scheme that netted him more than $11.5 million in illicit stock sale proceeds, according to a lawsuit filed in New York federal court on Monday.

  • June 19, 2018

    Satellite Operator Blasts 'Baseless' Challenge To $1M Award

    A Bermuda-based satellite operator urged a New York federal judge Monday to confirm a $1 million arbitral award stemming from a soured transaction, accusing a Korean satellite communications provider of doing everything in its power to get out of paying up.

Expert Analysis

  • #MeToo At Law Firms And What We Can Do About It

    Beth Schroeder.JPG

    While some may say it’s ironic, it’s also embarrassing and enraging that the very industry that offers anti-harassment training, policies and counsel now finds itself the subject of #MeToo headlines. The American Bar Association recommendation that will bring about the greatest change is the call to provide alternative methods for reporting violations, says Beth Schroeder, chair of Raines Feldman LLP's labor and employment group.

  • Scrutinizing Noncash Settlements In Consumer Class Actions

    Thomas Dickerson

    In consumer class action settlements, cash provides the class and the court evaluating a proposed settlement with a quantitatively measurable benefit. Noncash settlements require heightened scrutiny by the court, since they are generally worth less to consumers than cash, and may benefit defendants and class counsel more than class members, says retired judge Thomas Dickerson.

  • Knowledge Lawyers Can Help Firms Stay Ahead Of The Curve

    Vanessa Pinto Villa

    In a profession notoriously averse to change, it should come as no surprise that there is skepticism about the value of having attorneys perform nonbillable tasks. But U.S. law firms have slowly begun to incorporate knowledge lawyers into their operations — and the trend is likely to continue, says Vanessa Pinto Villa of Hogan Lovells.

  • Bristol-Myers Squibb: 1 Year Later

    Adam Pollet

    In the year since the U.S. Supreme Court decided Bristol-Myers Squibb Co. v. Superior Court of California — limiting where plaintiffs can bring claims and curbing forum-shopping in mass tort litigation — courts have grappled with questions that the ruling did not address, and defendants have pursued jurisdictional defenses in class actions and federal cases that were not previously available, say attorneys with Eversheds Sutherland LLP.

  • Insights From State AG Coordinated Opioid Investigation

    Richard Lawson

    Much ink has been and will be spilled over the merits and complexities of the lawsuits brought against opioid manufacturers by 23 state attorneys general. However, for any company engaged in a consumer-facing industry, the progress of the recent multistate investigation offers lessons on what to expect when subject to this type of inquiry, says Richard Lawson of Manatt Phelps & Phillips LLP.

  • An Unprecedented Look Inside The FARA Unit

    Brian Fleming

    For close observers of the Foreign Agents Registration Act, the June 8 release by the U.S. Department of Justice of over 50 FARA advisory opinions was a watershed. These opinions offer an unprecedented glimpse into how the FARA Registration Unit interprets the law, say Brian Fleming and Andrew Herman of Miller & Chevalier Chtd.

  • One Size Doesn't Fit All Product Labeling Class Actions

    Jon Tomlin

    Recent product labeling class actions centering on Starbucks coffee, Tito's Vodka, 5-Hour Energy and other products differ substantially from each other in their claims and the products involved. The fundamental economic differences between these cases mean that cookie-cutter methods are not likely to yield reliable measures of classwide damages, says Jon Tomlin of Navigant Consulting Inc.

  • Options For Failing Marijuana Cos. And Their Creditors

    Brett Theisen

    In the marijuana industry, there is ambiguity surrounding failing businesses because the product remains illegal under federal law. Brett Theisen of Gibbons PC identifies the credit risks associated with lending to, or working with, a marijuana business and highlights key state law solutions for both debtors and creditors.

  • A Farxiga Opinion That's All Hat, No Cattle

    Lora Spencer

    Is everything really bigger in Texas? A New York federal court's ruling in Aron v. Bristol-Myers Squibb — apparently the first reported opinion from the Farxiga multidistrict litigation — would have us believe that pharmaceutical manufacturers have bigger tort liability under Texas law. But the court let the plaintiffs slide on a number of key points, says Lora Spencer of Reed Smith LLP.

  • Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 2

    John Reed Stark

    The legal industry has already begun to feel the impact of anti-bribery and anti-money laundering requirements. When involved with cryptocurrency trading and remittance, law firms face more than the risk of being perceived as organizations that support money laundering practices, says John Reed Stark of John Reed Stark Consulting LLC.