New York

  • January 23, 2018

    Pepsi Says False Ad Suit Over ‘Diet’ Soda Is Preempted

    Pepsi-Cola Co. has urged a New York federal court to toss a proposed class action claiming the company’s “diet” drink contributes to weight gain, saying the state-law claims are preempted by federal law allowing zero-calorie sodas to be labeled as “diet.”

  • January 22, 2018

    No Bellwether For DZ Bank In Morgan Stanley RMBS Fight

    A New York state judge on Monday rejected German lender DZ Bank’s bid to conduct a bellwether trial in its fraud suit against Morgan Stanley over dud residential mortgage-backed securities it bought from the U.S. bank, expressing concerns that moving ahead with part of the case wouldn’t resolve things any more efficiently.

  • January 22, 2018

    Bribery Defendants Weren't Out To Help NCAA Schools: DOJ

    A New York federal court shouldn’t toss charges that an Adidas executive and others conspired to bribe college basketball players into attending Adidas-sponsored schools and hiring certain agents, the U.S. Department of Justice said on Friday, arguing that the alleged scheme cannot be construed as an effort to help the universities.

  • January 22, 2018

    Breitburn Shareholders Seek To Prolong Ch. 11 Plan Talks

    Counsel for a committee of Breitburn Energy Partners LP shareholders seeking to block confirmation of a Chapter 11 restructuring plan that leaves the group empty-handed closed a trial over enterprise valuations on Monday, urging a New York bankruptcy judge to send the sides back to the negotiating table.

  • January 22, 2018

    Altice Wrongly Dropped Movie Channels, Starz Tells FCC

    Premium TV content company Starz Entertainment LLC is urging the Federal Communications Commission to ding an Altice unit for dropping 16 channels from its New York City-area cable offerings without first extending a 30-day notice period to subscribers.

  • January 22, 2018

    Riemer & Braunstein, Fried Frank Steer $285M New York Loan

    Riemer & Braunstein LLP represented German lender Dekabank Deutsche Girozentrale in connection with its $285 million loan to Fried Frank Harris Shriver & Jacobson LLP-counseled RXR Realty LLC for an office property on Avenue of the Americas in Manhattan, according to records made public in New York on Monday.

  • January 22, 2018

    Insurer Needn't Cover Bakery's Auto Accident: 2nd Circ.

    The Second Circuit on Monday found Citizens Insurance does not have to cover a New York bakery for a van crash, saying the company did not have to send the bakery a special notice for a loss not covered by its policy.

  • January 22, 2018

    Where Things Stand On The Biggest P3 Transpo Projects

    The Trump administration’s reluctance to shoulder most of the costs for state or local transportation infrastructure projects has increased the pressure on governments to look to private industry to get some of the nation’s most crucial projects financed, built and delivered, experts say.

  • January 22, 2018

    Ace Ducks Nasdaq Coverage In $26M Facebook IPO Suit

    Ace American Insurance Co. does not have to pay into a $26.5 million settlement reached between its insured Nasdaq and scores of retail investors who sued the exchange over Facebook’s bungled initial public offering, the Second Circuit said Monday, ruling an exclusion applies because the investors are “customers.”

  • January 22, 2018

    Exxon Climate Speech Claims Are Empty, AGs Say

    ExxonMobil has provided no plausible evidence that climate change probes launched by the attorneys general of New York and Massachusetts amount to a politically motivated conspiracy to deprive the oil giant of its free speech rights on climate issues, the prosecutors told a New York federal judge Friday.

  • January 22, 2018

    NY DAs Urged To Slash Campaign Donations From Attorneys

    New York district attorneys should be “blind” to their campaign donors and dramatically lower the cap on contributions from lawyers with cases before their offices, according to a Monday report from Columbia Law School. 

  • January 22, 2018

    Man Who Sold Numbers For Text Scam Cops To Conspiracy

    A California man admitted Monday in New York federal court that he provided phone numbers used by jailed Mobile Messenger CEO Darcy Wedd and others to take $100 million of illegal profits via “premium text messaging” services that auto-subscribed customers without their consent, billing them $9.99 a month.

  • January 19, 2018

    NY Judge Reverses Standing Ax In Excellus Breach Row

    The New York federal judge overseeing consolidated actions over a 2015 data breach at Excellus BlueCross BlueShield on Friday reinstated claims brought by customers who claimed their data had been exposed but not misused, reversing her earlier decision that these plaintiffs hadn't alleged an injury sufficient to establish Article III standing. 

  • January 19, 2018

    Honduran Soccer Exec Gets 2.5 Years For Money Laundering

    A former soccer club executive and minister to Honduran President Juan Orlando Hernández on Friday was sentenced to nearly 2 1/2 years in prison after he copped to trying to launder drug money through a Florida real estate deal.

  • January 19, 2018

    SEC Chair Urges Retail Focus In Activist Investor Debate

    U.S. Securities and Exchange Commission Chairman Jay Clayton said Friday the interests of Main Street investors must remain central to a growing debate over the pros and cons of shareholder activism.

  • January 19, 2018

    No Plea Talks For Cuomo Aide, Others Eyed In Albany Graft

    Four New York men accused of a large-scale bribery and corruption scheme flowing from the state capital of Albany, including a noted confidante to Gov. Andrew Cuomo, are going to trial without having had plea negotiations, a Manhattan federal judge was told Friday. 

  • January 19, 2018

    MetLife Deal Could Imperil Future SIFI Designations

    Future financial regulators will have a more difficult time targeting nonbank financial firms for extra regulation after the Trump administration on Thursday agreed to include cost-benefit and other analyses in future designations of systemically important financial institutions, experts said.

  • January 19, 2018

    Vegetarians Lose False Ad Row With Buffalo Wild Wings

    A New York federal judge on Friday tossed a suit brought by a proposed class of vegetarians accusing Buffalo Wild Wings Inc. of frying nonmeat items in beef tallow, saying the suit hasn’t specified any injury besides the price paid for the fried food.

  • January 19, 2018

    DLA Piper Guides Ladder Capital On $84M Brooklyn Loan

    DLA Piper represented Ladder Capital Finance LLC in connection with its $84 million loan to CB Developers LLC for a hotel and retail property on Driggs Avenue in Brooklyn, according to records made public Friday in New York.

  • January 19, 2018

    Real Estate Rumors: Liquidation Office, Romspen, Drive Shack

    The New York Liquidation Bureau is reportedly leasing more than 43,000 square feet in Manhattan, Romspen US Mortgage has reportedly loaned $23.5 million for a Florida townhome construction project, and golf center operator Drive Shack is hoping to build a facility in Fort Lauderdale.

Expert Analysis

  • How IRS Is Targeting Offshore Accounts, Virtual Currency

    Kathleen Gregor

    Despite continuing Internal Revenue Service budget cuts and significant attrition among experienced special agents, the agency's Criminal Investigation Division is keeping the pressure on in the new year. More than ever, taxpayers with unreported assets, whether offshore or in the form of virtual currencies, are advised to take proactive steps, say attorneys with Ropes & Gray LLP.

  • Lessons From President Trump's Failed Judicial Nominations

    Arun Rao

    In December, three of the Trump administration’s judicial nominees were forced to withdraw after serious bipartisan concerns arose about their qualifications. What lessons can potential nominees learn from these high-profile failures? Having previously served on the White House vetting team during the Obama administration, I can offer three important points, says Arun Rao, executive vice president of Investigative Group International.

  • In New York, A Trust Beneficiary Has Powerful Rights

    Thomas Wiegand

    New York law gives beneficiaries powerful tools to investigate and combat corporate trustees’ wrongdoing, as seen in two recent state court decisions. Nobody should assume that a prior release is the end of the story, say Thomas Wiegand and Justin Ellis of MoloLamken LLP.

  • How To Control Data As Technology Complicates E-Discovery

    Peter Ostrega

    While technology is making certain aspects of e-discovery faster and easier, it is also creating new challenges as quickly as we can provide solutions. The good news is that there are concrete steps businesses can take to address those challenges, says Peter Ostrega of Consilio LLC.

  • How The Climate Changed For Renewables In 2017

    Brook Detterman

    2017 ended, as it began, with much uncertainty for renewable energy, as the Trump administration continued to move against the Clean Power Plan. But key renewable energy objectives advanced at the state level, and tax reform left the production tax credit for wind energy and the investment tax credit for solar developers intact, says Brook Detterman of Beveridge & Diamond PC.

  • Rebutting Presumption Of Reliance: Lessons From 2nd Circ.

    Brad Karp

    The Second Circuit's decision in Arkansas Teachers v. Goldman Sachs reminds district judges that the opportunity to introduce evidence in opposition to class certification and rebut the fraud-on-the-market presumption of reliance needs to be a meaningful one, say attorneys with Paul Weiss Rifkind Wharton & Garrison LLP.

  • Looking Back At The Life Settlements Industry In 2017

    Casey_Brian_Locke Lord LLP.jpg

    While 2017 was a relatively quiet year on the regulatory front for life settlements, Delaware and Florida adopted major legislative reforms that will affect the industry. Adjustments to the federal income tax code at the end of the year also brought some important changes, say Brian Casey and Thomas Sherman of Locke Lord LLP.

  • What It Means If States Can Set Medicaid Work Requirements

    Caroline Brown

    In a long-anticipated move, the Centers for Medicare & Medicaid Services recently announced that it will allow states to implement Medicaid work requirements, representing a major shift in the agency's policy. However, the move will only impact a small percentage of the Medicaid population, say Caroline Brown and Philip Peisch of Covington & Burling LLP.

  • America's Shifting Views On Marijuana Post-Cole Memo

    Jonathan Robbins

    Although Attorney General Jeff Sessions' rescission of the Cole memo does not change federal law, negative response to the rescission across the cannabis sector and political landscape was strong, swift and bipartisan, which may lead to congressional action in the future, say Jonathan Robbins and Joshua Mandell of Akerman LLP.

  • The Legal Case Against Weinstein’s Suppression Efforts

    Lynne Bernabei

    A recent lawsuit in the Southern District of New York alleged a criminal conspiracy to stop disgraced film producer Harvey Weinstein’s victims from coming forward. Authorities in the U.S. and the U.K. may have grounds to look behind the veil of attorney-client privilege at communications between Weinstein and lawyer David Boies, say Lynne Bernabei and Kristen Sinisi of Bernabei & Kabat PLLC.