A Delaware bankruptcy judge gave Vitamin World Inc.’s auction the nod Friday after a last-minute change that brought in a new stalking horse bidder and upped the floor price to $28 million, staving off previous fears the chain would have to liquidate all of its roughly 300 locations.
The U.S. trustee objected Friday to the proposed key employee incentive and retention plans filed by bankrupt athletic equipment distributor Maurice Sporting Goods Inc., telling the Delaware bankruptcy court the documents describing the bonuses don’t provide enough information about who will be getting paid and how much.
Three interested parties each submitted an amicus brief Thursday in South Dakota v. Wayfair, urging the U.S. Supreme Court to reject South Dakota’s petition for certiorari, arguing, among other things, there would be an undue burden on businesses and violations of due process and the commerce clause should the court abrogate its physical presence nexus rule.
The U.S. Department of Justice told the U.S. Supreme Court on Thursday that it should vacate and remand the Second Circuit’s ruling that the use of increased fees to fund rewards for cardholders justifies American Express' anti-steering provisions imposed on merchants, claiming the ruling overlooked the central concern of antitrust laws: the preservation of competitive prices.
LeBron James has reportedly dropped $23 million on a second home in West Los Angeles, a pair of contiguous lots in Florida have reportedly sold for a combined nearly $30 million, and Hubb NYC is said to have picked up multiple retail condos in New York from a venture that includes private equity shop Carlyle Group for nearly $24 million.
Congress, not the U.S. Supreme Court, is the body that should appropriately decide whether states may require remote sellers to collect and remit use tax, the online companies in litigation over the issue told the nation’s highest court in a brief filed Thursday.
Tesla can sell its electric cars directly to consumers in Missouri again after a state appeals court on Tuesday reversed a lower court’s decision blocking the licenses that Tesla received to sell its cars, saying a dealership association didn’t have standing to challenge the licenses in the first place.
Customers accusing multilevel marketing fashion retailer LuLaRoe of overcharging them $8.3 million by calculating sales tax based on the location of sellers rather than consumers asked a Pennsylvania federal judge Wednesday to grant them class status.
WeWork is reportedly close to a deal to lease two floors in Chicago, Allegro Senior Living is said to have landed a $44.5 million loan for a senior living project in Florida, and ShopOne Centers REIT has reportedly picked up a New Jersey grocery-anchored shopping center for $26.5 million.
The U.K. wealth business of Old Mutual could be worth about £2.5 billion ($3.35 billion) in an IPO planned for 2018, Fosun is in talks concerning a flotation of its tourism business that could raise $500 million or more, and Johnson & Johnson is mulling a sale of anti-dandruff shampoo Nizoral.
A Cypriot company that runs several shopping centers in Ukraine said Thursday that a London court has rejected challenges to its rights in a Kiev mall, settling a yearslong dispute over the shopping center’s rightful ownership.
The Second Circuit rejected a bid for a rehearing by a Men's Wearhouse Inc. investor, who was seeking to overturn a lower court's ruling that he lacked standing to sue several hedge funds over $17 million they allegedly made in forbidden “short-swing” profits.
Some law firms are feeling a squeeze on the cash they have available for investments in the future as demand for firms' services remains sluggish and partners continue to expect ever-rising profit payouts.
A group of mall owners on Wednesday objected to bankrupt health supplement retailer Vitamin World Inc.’s plan to sell off its retail operations, saying the company has to prove that transferring its store leases to a new, unknown owner won’t harm landlords.
Morton Williams Supermarkets is reportedly leasing more than 29,000 square feet in New York, a CIM venture is said to have bought a Chicago apartment tower, and Cornell Realty Management has reportedly scored a $15 million bridge loan for a Brooklyn condo tower project.
Bankrupt Toys R Us on Tuesday was given the green light to spend $90 million on an incentive package to motivate employees during the critical holiday season after a Virginia bankruptcy court overruled the federal bankruptcy watchdog's concerns that the "princely compensation ... defies logic and wisdom."
The European Union's highest court ruled Wednesday that luxury goods makers like beauty giant Coty could in theory block their authorized distributors from selling high-end goods on sites like Amazon.com's marketplace without violating antitrust law.
Architecture firm Bjarke Ingels Group is bringing the first ever professional sports stadium to Austin, Texas, which will be part of a massive 1.3 million-square-foot sports, music, entertainment and retail complex, according to an announcement from BIG on Tuesday.
Bankrupt women’s shoe maker Aerogroup International Inc. told a Delaware judge Wednesday that it had decided to pursue a sale of its assets and a licensing deal and will be abandoning its dual-track Chapter 11 strategy, which included a liquidation option.
At least one judge on a Seventh Circuit panel on Wednesday grappled with the prospect of reviving a proposed class action against Barnes & Noble over its 2012 security breach, wondering whether it’s enough to claim economic damages if the California and Illinois customers who lost money through the hack got it back within three days.
Since its whopping $800 million Foreign Corrupt Practices Act settlement in 2008, Siemens cleaned up — and it has “cleaned up” in its long-standing competition with General Electric. How? As Secretary of State Rex Tillerson reportedly told President Donald Trump, you don’t need to pay bribes to succeed in international business, says Peter Y. Solmssen, former general counsel of Siemens.
The 2008 Siemens matter — then the largest sanction ever imposed in a Foreign Corrupt Practices Act enforcement action — set the stage for future cross-collaboration in global anti-corruption enforcement, say Cheryl Scarboro, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission, and Diana Wielocha of Simpson Thacher & Bartlett LLP.
The Foreign Corrupt Practices Act case of U.S. v. Harris Corp. was tried in March 1991 — so long ago that pretty much only the parties and counsel remember it. With a smile, I’ve just about given up correcting people who say their case is "the only FCPA case ever to be tried,” says Robert Feldman of Quinn Emanuel Urquhart & Sullivan LLP.
At the U.S. Securities and Exchange Commission in April 1978, we filed a case against Page Airways and envisioned the trial of a precedent-setting enforcement action that would have defined Foreign Corrupt Practices Act standards at an early stage. Instead, the matter was settled under circumstances that I am sure are unique in SEC history, says Burton Wiand of Wiand Guerra King PA.
In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.
The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.
Catching a witness flat-footed on an important topic is no longer confined to cable news, and corporate legal defenses can likewise die when witnesses profess ignorance on things that jurors believe they should know. However, employing some common sense tools can minimize potential harm, says Matthew Keenan of Shook Hardy Bacon LLP.
Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.
In recent years, the Judicial Panel on Multidistrict Litigation has assigned many MDL cases to judges who have not previously presided over MDL proceedings. The panel still assigns cases to experienced MDL judges as well, but prior experience is clearly not a prerequisite for being an MDL transferee judge, says Alan Rothman of Arnold & Porter Kaye Scholer LLP.
During the holiday season, employees are more likely to request time off or call in sick. For retailers, however, this time of year typically means increased customer demand, staffing challenges and potential for more wage and hour exposure. Given these issues, attorneys at Greenberg Traurig LLP offer a few tips for retailers to keep in mind.