JPMorgan Chase & Co., Bank of America Corp. and several other major banks are facing yet another proposed class action for allegedly manipulating the foreign exchange market, after investors who indirectly bought the firms' products sued Friday.
The FBI is wrongfully withholding documents regarding the investigation and prosecution of disgraced former NBA referee Tim Donaghy, according to a Freedom of Information Act action initiated Thursday in New York federal court by documentary filmmakers researching gambling corruption in professional sports leagues.
General Motors LLC tried Thursday to use the Second Circuit’s recent Tronox ruling to shut down the onslaught of faulty ignition suits it’s been fighting for years, telling a New York federal court those claims would benefit all the creditors of its predecessor Old GM, and therefore only Old GM should be liable for them.
A few dozen litigation funders, would-be investors and lawyers scoped each other out at a hip Manhattan co-working space Friday, looking to make friends — and deals — to put private investment behind legal claims.
EDITING - The U.S. Securities and Exchange Commission asked a Manhattan federal judge Thursday to keep hedge fund founder Chetan Kapur jailed for contempt of $10 million in civil judgments, asserting that incarceration could still coerce the recalcitrant defendant to lead authorities to $2.2 million stashed in Switzerland.
Friedman Kaplan Seiler & Adelman LLP has reclaimed its former partner Mala Ahuja Harker, a one-time federal prosecutor who will join the firm's white collar and litigation practice groups as a partner in its Newark, New Jersey, and New York City outposts.
Facebook and Google have confirmed that they were the companies allegedly defrauded out of $100 million by a Lithuanian man facing criminal charges for posing as a major hardware manufacturer and tricking the companies into wiring money to his bank account.
Two former executives at Dewey & LeBoeuf LLP were motivated by their multimillion-dollar paychecks to deceive the firm's financial backers, a prosecutor said during New York state's closing arguments Friday.
Ex-SAC Capital Advisors manager Mathew Martoma encouraged the Second Circuit Thursday to follow its sister circuit’s lead in holding the U.S. Supreme Court’s Salman opinion didn’t flip the New York appellate court’s earlier finding that close relationships are necessary to sustain insider trading convictions.
A New York federal judge on Friday disqualified Holland & Knight LLP from representing First NBC Bank in an upcoming trial against ethanol distributor Murex LLC, saying that the firm offered legal services to both parties concurrently despite preparing the bank’s lawsuit against Murex over alleged sham transactions.
Metals manufacturer Arconic Inc. pushed a New York federal court on Friday to reject an investor’s requested preliminary injunction that would impact its upcoming board of directors election, fighting allegations that it issued “fake news” about a $500 million payment obligation to prevent investors from infusing the board with new blood.
Thor Equities is reportedly trying to get out of a $42.5 million contract to buy a New York rental building, Samar Hospitality is said to have scored a $24 million loan for a Florida hotel project, and Snap Inc. is reportedly taking an additional 26,000 square feet of space from real estate investment trust Columbia Property in New York.
The New York Tax Appeals Tribunal won’t upend an administrative law judge’s decision to clear a married pair of antique shop owners and real estate flippers of $3.7 million in taxes and penalties, agreeing that their businesses were for profit, not pleasure.
Bankrupt medical laundry and linen management services company Angelica Corp. received final authorization Friday to tap a $65 million Chapter 11 loan and move forward with its agenda to sell the business to a KKR & Co. LP affiliate for $125 million or field a better offer at auction.
FIFA’s Ethics Committee on Friday banned an official who also serves as the president of the Guam soccer federation for 90 days, after he pled guilty yesterday in Brooklyn federal court to charges related to taking nearly $1 million in two bribery schemes.
The last few weeks have seen Cooley LLP, DLA Piper, Faegre Baker Daniels Consulting, Fox Rothschild LLP, King & Spalding LLP, Nossaman LLP, Polsinelli PC and Porzio, Bromberg & Newman PC expand their expertise in the health and life sciences worlds.
Hunton & Williams LLP represented DTH Capital, which is partly owned by a subsidiary of AG Insurance, and Rose Associates in connection with their $375 million mezzanine loan and mortgage for a residential, hotel, restaurant and retail property in New York, according to an Thursday announcement from Hunton & Williams.
Former diplomat Francis Lorenzo pled guilty Thursday to fresh charges stemming from the federal probe of bribery at the United Nations, admitting to receiving bribes and to a violation of the Foreign Corrupt Practices Act a month ahead of a scheduled trial for Chinese real estate billionaire Ng Lap Seng, the lone remaining defendant.
An iconic Manhattan steakhouse on Thursday got slapped in New York federal court with a proposed wage and overtime class action that accuses the restaurant of “blatantly stealing wages” from its wait staff.
The National Resources Defense Council, Riverkeeper and other environmental advocates are teaming up to file a citizen suit against the U.S. Environmental Protection Agency, saying it is allowing New York City’s rivers and bays to become contaminated with raw sewage by letting the state use outdated water quality criteria.
A pending Second Circuit case raises an interesting constitutional question for practitioners whose clients are subject to parallel, cross-border white collar investigations: When someone gives compelled testimony to foreign law enforcement officials, does the Fifth Amendment bar U.S. prosecutors from using her statements, directly or indirectly, to criminally prosecute her? say Mark Racanelli and Michael Simeone of O’Melveny & Myers LLP .
The New York Public Service Commission recently issued an order creating a new means of compensating renewable energy projects connected to the state’s electric grid. By replacing the net metering system with a new, more complex scheme for project valuation, the order will quickly change the landscape of renewable energy development and financing in New York, says Peter Trimarchi of Nixon Peabody LLP.
Mediators’ proposals, which call for an unconditional and confidential acceptance or rejection, are resolving high-value disputes on a regular basis. Dennis Klein of Critical Matter Mediation examines why this is happening and the tactical implications for litigants in anticipating that a mediator’s proposal could resolve litigation.
When a federal judge in Seattle recently enjoined the city from enforcing parts of an ordinance allowing ride-sharing drivers to unionize, it was hailed as a major victory for a badly beaten industry. But that victory may prove to be fleeting, says Daniel Handman of Hirschfeld Kraemer LLP.
In its first 100 days, the Trump administration has had mixed results and may be behind where it wants to be. The biggest threat to President Donald Trump’s domestic policy agenda beyond the first 100 days is the difficulty of reconciling the Freedom Caucus Republicans, moderate Republicans and Democrats, say Jim Flood and Cari Stinebower of Crowell & Moring LLP.
The recent contrasting outcomes of the regulatory and private actions against Total Gas illustrate at least one significant difference between public and private price manipulation enforcement under the Commodity Exchange Act — private plaintiffs have a difficult, and sometimes insurmountable, hurdle to overcome, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
A split panel of a Florida state appellate court has held that police need a warrant to search a vehicle’s electronic data recorder or “black box” absent exigent circumstances. The ruling in Florida v. Worsham demonstrates that the constitutional, legislative and regulatory privacy protections afforded data-capturing vehicle technologies are expanding rapidly, say Tina Sciochetti and Charles Dell'Anno of Nixon Peabody LLP.
In some states, borrowers may invoke the “implied covenant of good faith and fair dealing” to circumvent certain express loan terms. The recent decision in Transit Funding Associates v. Capital One Equipment Finance made clear that such arguments will be rejected by New York’s First Department, says Richard Epstein of Sills Cummis & Gross PC.
Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.
Until the U.S. Supreme Court determines whether mandatory arbitration agreements containing class action waivers are enforceable under the Federal Arbitration Act — despite any protections afforded by the National Labor Relations Act — a close reading of recent appellate decisions provides employers with guidance to overcome the current attacks on such agreements, say Bonnie Burke of Lawrence & Bundy LLC and Christina Tellado of Reed Smith LLP.