Counsel for a former mobile technology company executive accused of participating in a scheme that reaped millions by signing unknowing consumers up for messaging services went after one of the company's ex-vice presidents Wednesday, relentlessly lobbing questions in an effort to cast doubt on the man’s testimony and distance his client from the alleged crimes.
A New York federal court on Wednesday signed off on settlements between the U.S. Securities and Exchange Commission and two former Bankrate Inc. executives in a suit accusing them of improperly inflating earnings to meet analysts’ predictions for the personal finance information company.
Insurers looking to get out of paying roughly $300 million to JPMorgan Chase & Co. for settlement costs that Bear Stearns paid in a U.S. Securities and Exchange Commission deal asked a New York state judge Wednesday to revive the lawsuit they lost, citing the U.S. Supreme Court’s recent finding in Kokesh that disgorgement is a penalty.
Lenders to a defunct aircraft leasing company have urged a New York federal judge to make it distribute the last $23.3 million it has on hand to its bondholders, saying the Airplanes Group’s directors have set aside money for “everything but paying their debts.”
Old GM's unsecured creditors were right to accept a $15 million loan from Uncle Sam to pursue a $1.5 billion avoidance action over a prebankruptcy loan that was left unsecured thanks to a paralegal's mistake, a New York federal court said as it overruled one creditor's objection to the agreement.
The Federal Circuit on Wednesday upheld a New York federal court’s invalidation of a remote employee training system patent, a 2016 ruling that invoked the Alice standard and drew a parallel between the claimed invention and Scantron tests that were introduced in the 1970s.
Manhattan federal prosecutors on Wednesday said seven people have been charged for their roles in a $5 million insider trading scheme, in which a former Bank of America vice president is accused of doling out confidential merger information he obtained from the bank.
Two brothers stole upwards of $855,000 from investors who thought they were investing in penny stock companies, investment funds and blue chip companies, the U.S. Securities and Exchange Commission recently alleged in a New York federal suit.
A New York federal judge sentenced a Nigerian citizen on Wednesday to more than four years in prison for allegedly operating a fraud scheme that swindled millions of dollars from businesses in the U.S. and elsewhere.
Prosecutors do not have to hand over full English-language translations of documents produced in the FIFA corruption case and can demand the return of draft transcripts from undercover recordings, a federal judge in Brooklyn ruled on Wednesday, despite concerns from defendants the government will spring evidence on them ahead of trial.
In an evidentiary hearing Wednesday on a motion to dismiss a libel suit against The New York Times, the paper's editorial page editor told U.S. District Judge Jed S. Rakoff that he did not intend to imply a causal relationship between political violence and Sarah Palin’s rhetoric.
Goldman Sachs Group Inc. investment banker Rebecca Allen accused the firm Wednesday of maintaining a “segregationist culture,” alleging in a New York federal discrimination suit that a white partner took one of her clients because of her race and Jewish heritage.
New York City can’t start enforcing its rule requiring calorie information to be displayed on restaurant menus this month because it has to mirror the federal government’s plan to begin enforcing an identical rule in May, the U.S. Food and Drug Administration told a New York federal court on Tuesday.
Former New York State Assembly Speaker Sheldon Silver is scheduled to have a second jury trial on corruption-related charges in the spring of 2018, pending no interfering developments from the U.S. Supreme Court, a New York federal judge said Tuesday.
Blackstone Group has reportedly scored an $87 million loan for four Florida Motel 6 properties, Generator Hostels is said to have landed a $25 million loan for a Florida hostel project and Kamber Management is reportedly buying three parking garage condos at the Trump Place-Riverside South development in Manhattan for $50 million.
Netflix asked the Second Circuit on Wednesday to reverse a ruling that protected formerly bankrupt movie company Relativity Media in a dispute over the online streaming of two movies before their theatrical run, saying the decision was a "shadow" that would "haunt" all other disputes during the years left on the multimovie deal.
Third-party funder Woodsford Litigation Funding said Wednesday it has reached a $20 million agreement with law firm Lewis Baach Kaufmann Middlemiss PLLC to provide it with financing to pursue litigation and arbitration worldwide on behalf of the firm's clients.
A New York state appellate court ruled Wednesday that a patient could continue with her suit accusing two dentists of operating on her unnecessarily and without her consent, saying that there was a question whether she had been properly advised before signing her consent forms.
A Manhattan federal judge on Tuesday rejected most of the objections lodged by Nigeria’s central bank against a request from Exxon Mobil Corp. and Royal Dutch Shell PLC subsidiaries to access information on foreign accounts in their efforts to enforce a $1.8 billion arbitration award against the country’s state-owned oil company.
A group of FedEx Ground Package System Inc. delivery drivers in New York asked a federal judge Tuesday to certify their class action claiming the company shorted them on pay by misclassifying them as independent contractors, hoping to advance another high-profile dispute over the package delivery giant's employment relationship with drivers.
There is a wonderful sketch of Seventh Circuit Judge Richard Posner dressed in a black robe with arms outstretched as if they were the billowing wings of a lean vulture. He is kicking a human brain down a hallway and wearing a half-smile that looks for all the world like a sneer. That sketch is the perfect metaphor for both Judge Posner and his new book, "The Federal Judiciary: Strengths and Weaknesses," says U.S. District Judge Ri... (continued)
While the U.S. Environmental Protection Agency has taken steps toward withdrawing the Clean Power Plan, the question remains whether and how the EPA will regulate carbon dioxide emissions from power plants in its place. Attorneys with Kirkland & Ellis LLP discuss various options and their potential impact.
The Second Circuit's determination that former Lehman Brothers employees' restricted stock units are securities is important to creditors seeking to safeguard their priority position among bankruptcy claimants, say John Stigi and Christopher Bosch of Sheppard Mullin Richter & Hampton LLP.
Special master appointments can be very beneficial in resolving disputes quickly, streamlining discovery, handling delicate settlement negotiations, and — somewhat surprisingly — reducing cost and delay, says retired U.S. District Judge Shira Scheindlin, now with JAMS.
In its recent decision in Cassandra Woods v. START Treatment & Recovery Centers, the Second Circuit applied a lower causation standard to determine whether employers have retaliated against employees for exercising their rights under the Family and Medical Leave Act. The likely result is an increase in the number of FMLA retaliation claims surviving summary judgment and proceeding to trial, say Amy Traub and Saima Sheikh of BakerHostetler.
As more law firms become the targets of major cyberattacks, more firms may consider appointing a chief privacy officer. In this series, CPOs at four firms discuss various aspects of this new role.
Last month, federal courts dismissed challenges to zero emissions credit programs in Illinois and New York. But as the plaintiffs appeal, an issue with broad consequences for the energy industry looms: whether anyone other than the Federal Energy Regulatory Commission can ask a federal court to declare that state programs affecting wholesale energy markets are preempted, say Gordon Coffee and Tyson Smith of Winston & Strawn LLP.
For outside counsel, oftentimes efficiency and responsiveness collide with security measures as clients are increasingly requiring their law firms to comply with third-party risk management programs. To meet these challenges, law firms are focusing more on the roles of chief privacy officer and chief information security officer, says Phyllis Sumner, chief privacy officer for King & Spalding LLP.
In recent years, courts have divided sharply over whether or not Rule 23 of the Federal Rules of Civil Procedure creates an implicit requirement that a class must be ascertainable in order to be certified. Amanda Lawrence and Michael Rome of Buckley Sandler LLP discuss the circuit split over whether and to what extent ascertainability is required, and implications of the circuit split for class action litigants.
The Second Circuit's far-reaching ruling in Allen will immediately impact the U.S. Department of Justice’s ability to prosecute individuals implicated in international investigations. The decision is likely to impact the Lava Jato Foreign Corrupt Practices Act investigation, as well as shape the DOJ’s future cooperation with governments in Latin America, say Nicholas Berg and Lindsey Sullivan of Ropes & Gray LLP.