New York

  • September 25, 2017

    CFTC Enforcement Chief Touts Self-Reporting To Deter Crime

    The U.S. Commodity Futures Trading Commission's new enforcement chief outlined a program Monday that encourages financial institutions to self-report misdeeds, arguing that creating incentives that favor voluntary disclosure of wrongdoing can deter white-collar crime much the same way that similar programs deter violent crime.

  • September 25, 2017

    MBS Investors Want Rethink Of Bank Wins In BNY Mellon Suit

    Investors suing the Bank of New York Mellon over its alleged failures as trustee for a slew of residential mortgage-backed securities trusts have urged a New York federal judge to reconsider some of the quick wins she gave the bank earlier this month.

  • September 25, 2017

    Gizmodo Says Deadspin Sale Dooms Defamation Claims

    The owner of sports commentary website Deadspin.com again told the New York bankruptcy judge overseeing the case of former Deadspin parent Gawker Media that a Las Vegas sports betting analyst cannot pursue a lawsuit over an allegedly defamatory article, saying Monday that the deal for the company released all presale claims.

  • September 25, 2017

    Bloomberg Reps Win 2nd Cert. In Unpaid OT Suit

    A New York federal judge on Monday certified a class of Bloomberg LP Analytics help desk representatives based in California, days after granting certification to 1,300 Bloomberg Analytics representatives in New York, in a suit alleging the media company violated state and federal overtime laws.

  • September 25, 2017

    Puerto Rico Agency Wants To Minimize Restructuring Delays

    Puerto Rico’s fiscal advisory agency is hoping to prevent significant setbacks for the island’s bankruptcy-like restructuring cases in light of the devastation caused by Hurricane Maria, saying in court papers Monday that any matters able to be decided on legal issues alone “should proceed without delay.”

  • September 25, 2017

    NY Tribunal Reverses $3.2M Tax Against German Insurer

    The New York Tax Appeals Tribunal has found the state’s income allocation for a German insurance company violated the U.S.-German Income Tax Treaty, a decision that overturned the firm's $3.2 million tax bill.

  • September 25, 2017

    Indian Film Co. Investor Suit Tossed As 'Semantic Battle'

    Investors accusing Indian film company Eros International PLC of misleading them about the potential of its movie-streaming service had their suit dismissed Friday by a New York federal judge, who said the allegations boiled down to a “semantic battle.”

  • September 25, 2017

    NYPD Sued Over Alleged Racial Bias In Detective Promotions

    Retired detectives filed a putative class action against the New York Police Department in New York federal court on Monday that accuses the agency of systematically denying promotions to the black detectives who serve in the department's most elite ranks.

  • September 25, 2017

    RBS, Other Banks Escape Swiss Franc Libor-Rigging Claims

    A New York federal judge on Monday dismissed claims against banks such as Royal Bank of Scotland PLC and Credit Suisse Group AG, which were accused by investors of manipulating the Swiss franc Libor.

  • September 25, 2017

    Law Schools, Bar Prep Co. Escape $50M Antitrust Suit

    A New York federal judge on Monday tossed a $50 million suit alleging a group of law schools worked with bar exam preparation company Barbri Inc. to stifle competition for classes targeting foreign Master of Laws graduates, saying LLM Bar Exam LLC’s struggles are due to complaints about its courses, not collusion.

  • September 25, 2017

    Real Estate Rumors: Bon Jovi, Draft, Chicago Hard Rock

    Bon Jovi has reportedly dropped nearly $19 million on a residence in Greenwich Village, fantasy sports company Draft is said to have leased 7,000 square feet in Manhattan and the Chicago Hard Rock Hotel has reportedly scored a $75 million refinance.

  • September 25, 2017

    'We're Laundering Money,' $2B Payday Loan Fraud Jury Hears

    A former tribal office manager on Monday conceded that she snooped on email and poached documents related to racer Scott Tucker and attorney Timothy Muir's payday loan empire, but not before Manhattan jurors hearing charges against Tucker and Muir heard the witness tell her boss that she thought the tribe was laundering money.

  • September 25, 2017

    Nielsen Sues ComScore Over Alleged Data Contract Breach

    Audience measurement company Nielsen Holdings PLC in a complaint filed Friday is accusing rival comScore Inc. of violating a agreement between the two by planning to launch a new television viewer measurement service that will utilize data that Nielsen shares with comScore to compete directly against it.

  • September 25, 2017

    Financier, Banker's Iran Sanctions Trial Delayed 4 Weeks

    The trial of Turkish-Iranian financier Reza Zarrab and Turkish banker Mehmet Hakan Atilla on charges of evading U.S. sanctions against Iran was pushed back for at least a month and maybe longer by a New York federal judge on Monday.

  • September 25, 2017

    OTC Investors' Counsel Want $32M Fee In Libor MDL

    Counsel for a class of investors who purchased Libor-tied financial instruments directly from big banks have asked a New York federal court to award the over-the-counter investors $31.8 million in fees incurred in multidistrict litigation alleging the banks manipulated the benchmark rate.

  • September 25, 2017

    One Of Two NY Hospitals Let Out Of Vision Loss Suit

    A New York state court judge has decided to throw out a patient’s claims against Nassau University Medical Center, but ruled that his case against another Long Island university hospital could move forward, saying the patient had made a reasonable argument that the hospital contributed to his permanent left-eye blindness.

  • September 25, 2017

    Anthony Weiner Sentenced To 21 Months In Sexting Case

    Former U.S. Rep. Anthony Weiner was sentenced in a New York federal court on Monday to 21 months in prison for sexting a 15-year-old girl.

  • September 22, 2017

    Soccer Antitrust Suit A Long Shot To Dethrone MLS

    An antitrust suit is seeking to upend the unique hierarchical structure that keeps Major League Soccer on top as the nation’s premier league, but experts say claims that the system is unfairly icing out other worthy leagues must overcome arguments that it actually promotes competition.

  • September 22, 2017

    Ex-Hunton Atty Seeks No Jail Time For Tipping Off Friend

    A former Hunton & Williams LLP patent partner who hinted to a friend about an upcoming Pfizer deal asked a New York federal judge to sentence him to probation for his securities fraud and conspiracy conviction, citing his kindhearted acts and restating his claim that he does not recall tipping off his friend, according to court documents made public Friday.

  • September 22, 2017

    SunEdison Slams 'Disgruntled' Investors' Appeal Over Ch. 11

    Aiming to shoot down an appeal stemming from its now-confirmed Chapter 11 bankruptcy plan, renewable energy giant SunEdison Inc. told a New York federal court this week that investors accusing the company of using an exit financing agreement to buy creditor support are improperly seeking to advance a “self-interested agenda.”

Expert Analysis

  • Unfunded Pension Liabilities: Caveat Emptor, Caveat Esquire

    Douglas Darch

    Ask any lawyer and they will tell you that, outside of a stock sale, a purchasing company has substantial control over the liabilities it acquires from the target company. Two recent federal court decisions, however, demonstrate the limitations of this general rule when unfunded pension liabilities are at issue, say Douglas Darch and Alexis Hawley of Baker McKenzie.

  • Opinion

    Manufacturers Must Focus On Securing The Internet Of Things

    Aristedes Mahairas

    We know internet-of-things devices are unsecure. Some say they are likely to remain unsecure. But given the increasing risk and seriousness of IoT-based attacks, manufacturers should take proactive measures to bring to market IoT devices that contain standard security protocols, says Aristedes Mahairas, special agent-in-charge of the FBI’s New York Special Operations/Cyber Division.

  • What To Expect In Forex Fraud Trial Of Ex-HSBC Exec

    Scott Schirick

    The prosecution of HSBC’s former global head of foreign exchange spot trading — whose trial began on Monday in the Eastern District of New York — will test whether the government can turn sharp dealing and deception in the unregulated institutional spot forex market into criminal fraud, says Scott Schirick of Pryor Cashman LLP​.

  • Locating Burden Of Proof When Patent Venue Is Challenged

    Duane-David Hough

    When venue is challenged, who bears the burden of proof in patent cases? It turns out the courts are sharply divided on this important issue, say attorneys with Mayer Brown LLP.

  • The Foreign Sovereign Immunities Act: 'Bedlam' Redux

    Robert W. Ludwig

    After four decades attempting to apply the commercial-activity exception of the Foreign Sovereign Immunities Act — the most significant exception to sovereign immunity — no court has ever decided the meaning of the heart of the exception, and with it the FSIA, says Robert W. Ludwig, a founding member of Ludwig & Robinson PLLC.

  • The Role Legal Finance Can Play In Firm Year-End Collections

    Travis Lenkner

    Payment collection delays have caused law firms to seek new options, one of which is litigation finance. In this context, litigation finance can offer alternative avenues to firms as they approach the end of a fiscal year or partnership distribution dates, says Travis Lenkner of Burford Capital LLC.

  • When Can LLCs Appoint A Special Litigation Committee?

    Muhammad Faridi

    A New York state court’s recent decision in LNYC Loft v. Hudson Opportunity Fund regarding the authority of a limited liability company to appoint a special litigation committee represents a departure in the trend of courts using statutory and common law to address questions that are not directly addressed by an LLC operating agreement, say Muhammad Faridi and Elizabeth Quirk of Patterson Belknap Webb & Tyler LLP.

  • 'Per-Doc' Pricing Can Improve Document Review

    file folder

    Imagine going to a restaurant and ordering your steak medium-rare. The steak arrives burned. You expect the kitchen to bring you another one properly done, right? And you don’t expect to pay for two steaks, do you? Paying a vendor for document review should be no different, says Lisa Prowse, an attorney and vice president at e-discovery firm BIA Inc.

  • Opinion

    We Must Protect Consumers From Illegal Debt Collectors

    Maura Healey

    Companies are allowed to collect the money they are owed, but they cannot break the law or cheat people in the process. Some of the biggest players in the debt collection industry are not focused on getting it right, says Massachusetts Attorney General Maura Healey.

  • Insider Trading After Martoma: Benefits Without Friends?

    Nathan Bull

    The Second Circuit's recent Martoma decision potentially expands the category of persons that, upon the disclosure of confidential information without pecuniary or tangible benefit, may constitute tippers or tippees subject to insider trading liability, say attorneys with Cadwalader Wickersham & Taft LLP.