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White Collar
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May 06, 2024
Autonomy Execs Scrambled To Boost Gross Margin, Jury Told
A former Deloitte auditor testifying in a California criminal trial over claims that ex-Autonomy CEO Michael Lynch conned HP into buying the British software company for an inflated $11.7 billion price confirmed Monday that months before the sale, executives were scrambling to boost their gross margin numbers.
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May 06, 2024
Kwok Ch. 11 Trustee Pounces On Co-Defendant's Guilty Plea
The Chapter 11 trustee seeking to wrangle a company from an individual who allegedly received it from Chinese exile Ho Wan Kwok's former chief of staff Yanping "Yvette" Wang says Wang's guilty plea in New York criminal court negates her attempt to slow-walk a Connecticut bankruptcy court adversary proceeding.
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May 06, 2024
Trump's NY Jury Sees Paper Trail From Alleged Cover-Up
New York prosecutors began the third week of Donald Trump's criminal trial on Monday with a parade of documents demonstrating in minute detail how the former president allegedly misbranded hush money reimbursements as legal fees after the 2016 election.
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May 06, 2024
Asiana Airlines Says $50M Catering Award Can't Be Enforced
South Korea's Asiana Airlines has urged a California federal court not to enforce a $50 million arbitral award issued to a catering company, saying the underlying contract, which guaranteed the caterer "unheard of profits," was only inked in exchange for a bribe paid to its disgraced former chairman.
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May 06, 2024
Alaska Man Gets 2 Years Over 'Bud And Breakfast' Scheme
An Alaska man has been sentenced to two years in prison and will have to pay more than $580,000 in restitution after duping investors into staking a purported plan to build a marijuana-themed hospitality center referred to as a "Bud and Breakfast."
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May 06, 2024
Crypto Platform's Ex-Brass Charged With $783M Fraud
Three former executives behind bankrupt cryptocurrency investment platform Cred Inc. face wire fraud and money laundering charges after they allegedly lied to customers about the firm's lending and investing practices ahead of a collapse prosecutors say wiped out $783 million in customer crypto.
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May 06, 2024
Goldman Objects To 1MDB Suit Class Cert. Recommendation
Goldman Sachs and its former top brass have urged a New York federal judge not to adopt a magistrate judge's recommendation to grant certification to a proposed class of investors claiming losses from the 1MDB bond bribery scandal, saying the magistrate judge erred in concluding that Goldman's stock price was affected by alleged misstatements.
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May 06, 2024
SEC's Grewal Says Self-Reporting Best Bet For No Penalties
Self-reporting is the most important factor that U.S. Securities and Exchange Commission enforcement staff weigh in determining cooperation credit and whether a firm should face a penalty, SEC Enforcement Director Gurbir Grewal said in an interview with Law360.
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May 06, 2024
SEC Hits Investor Group Owner With $2M Fraud Suit
The U.S. Securities and Exchange Commission has filed a suit in Missouri federal court against the owner of a private investor membership group, accusing him of misleading several members to invest around $2 million into a fake investment trading program.
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May 06, 2024
Convicted Ga. Sheriff Hit With Civil Rights Suit From Detainee
Former Georgia Sheriff Victor Hill, who was convicted in 2022 of violating his detainees' civil rights by leaving them strapped to a chair for hours at a time, was hit with a federal lawsuit Friday by an alleged victim of Hill's methods who testified against him in his criminal trial.
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May 06, 2024
Coverage Recap: Day 8 Of Trump's NY Hush Money Trial
Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day eight.
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May 06, 2024
Truth Social Backer 'Absolutely' Denies Insider Rap To Jury
An investment pro told a Manhattan federal jury Monday that he never tipped Florida speculators to a confidential plan to take former President Donald Trump's media concern Truth Social public, taking the stand to fight insider trading charges against him.
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May 06, 2024
Mentor, Opponent Unite In Praising Detroit's Newest Judge
Both a repeated adversary and early mentor agree: Robert J. White has what it takes to succeed as Detroit's newest federal judge.
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May 06, 2024
NY Judge Resigns After Pleading Guilty To Drug Charge
A central New York justice who recently admitted to possessing and selling cocaine has stepped down from the bench, a state judicial conduct commission announced Monday.
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May 06, 2024
Meet The Attys For NC Insurance Mogul Facing Bribery Retrial
Nearly two years after the Fourth Circuit exonerated Greg E. Lindberg on bribery and wire fraud charges, a team of Katten Muchin Rosenman LLP partners with prosecution experience has joined forces with prominent white collar defense lawyer James F. Wyatt lll in hopes of staving off a second conviction for the embattled insurance tycoon.
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May 06, 2024
SEC Settles Insider Info Charges With CBD Co.'s Ex-Chairman
The U.S. Securities and Exchange Commission has announced a settlement with the former chairman of Neptune Wellness Solutions Inc. to resolve charges that he leaked inside information about the company's then-pending purchase of SugarLeaf Labs Inc. to a friend's wife.
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May 06, 2024
SEC Targets Robinhood's Crypto Unit For Possible Lawsuit
Robinhood Markets Inc. notified investors Monday that the U.S. Securities and Exchange Commission plans to sue its crypto arm for allegedly failing to register as a securities brokerage firm and clearing agency, saying the agency could go as far as demanding that the platform be shut down.
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May 06, 2024
British National Admits To Coworking Business Ponzi Scheme
A British citizen pled guilty Friday in Manhattan federal court to participating in a scheme to solicit investments using fraudulent misrepresentations about a coworking company where he was a principal.
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May 06, 2024
Menendez Jury Can Hear Of Cash And Gold In Bribe Case
A jury soon to weigh corruption charges against U.S. Sen. Bob Menendez can be told about cash and gold "stuffed in pockets, in a safe, in jackets" in the New Jersey Democrat's home despite his insistence that nothing ties the money to alleged bribes, a judge ruled Monday.
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May 06, 2024
Whiteford Hires Veteran National Security Atty In DC
Whiteford Taylor & Preston LLP has hired a former Eastern District of Virginia assistant U.S. attorney, who has prosecuted high-ranking ISIS terrorists and a myriad of other criminals during his 18 years with the agency's national security and international crime unit.
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May 06, 2024
NY Judge Holds Trump In Contempt Again, Threatens Jail
Donald Trump was once again slapped with criminal contempt and a fine on Monday after the New York judge presiding over his hush money case found that he violated a gag order for the 10th time, explicitly warning that further violations could land the former president in jail.
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May 03, 2024
Binance Founder's Sentence Shaped By Plea And Apology
Binance founder Changpeng Zhao's willingness to cooperate with law enforcement and accept responsibility in court for the crypto exchange's anti-money laundering violations helped the former CEO land a deal with prosecutors that got him a relatively short prison sentence to close out a yearslong investigation.
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May 03, 2024
NY's Citi Suit Imperils Wire Transfer Market, Bank Groups Say
Major banking trade groups are backing Citibank NA in its fight against the New York attorney general's lawsuit over the bank's payment fraud protocols, warning that the state's claims seek to change how wire transfers are regulated in a way that could "upend" the marketplace for such services.
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May 03, 2024
Phone Carriers Still Want More Time On SIM Swap Deadline
Telecom trade groups have once again told the Federal Communications Commission that their members are going to struggle to meet the deadline for complying with the agency's new rules aimed at combating SIM card swapping fraud.
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May 03, 2024
Hope Hicks Tells Jury Of 'Access Hollywood' Tape Fallout
Hope Hicks, a former senior aide to Donald Trump, took the witness stand Friday in the former president's Manhattan hush money trial and described the fallout during the 2016 campaign after the release of the notorious "Access Hollywood" video and as word of his alleged extramarital affairs began to spread.
Expert Analysis
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End Of Acquitted Conduct Sentencing Can Spark More Reform
The U.S. Sentencing Commission’s recent end to factoring acquitted conduct into federal sentences could signal the start of a more constitutionally sound advisory scheme, but Congress and the Supreme Court must first authorize the commission to resolve two constitutional errors baked into its guidelines, say Mark Allenbaugh at SentencingStats.com and Alan Ellis at the Law Offices of Alan Ellis.
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Setting Goals For Kicking Corruption Off FIFA World Cup Field
The unprecedented tri-country nature of the 2026 men's World Cup will add to the complexity of an already complicated event, but best practices can help businesses stay on the right side of anti-corruption rules during this historic competition, say Sandra Moser and Emily Ahdieh at Morgan Lewis.
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Don't Use The Same Template For Every Client Alert
As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.
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Don't Fall On That Hill: Keys To Testifying Before Congress
Because congressional testimony often comes with political, reputational and financial risks in addition to legal pitfalls, witnesses and their attorneys should take a multifaceted approach to preparation, walking a fine line between legal and business considerations, say attorneys at Crowell & Moring.
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Series
Walking With My Dog Makes Me A Better Lawyer
Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.
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Think Like A Lawyer: Follow The Iron Rule Of Trial Logic
Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Compliance Strategies To Mitigate 3 New Areas Of AI Risk
The era of artificial intelligence-assisted corporate crime is here, but several concrete mitigation strategies can allow companies to address the new, rapidly evolving threats posed by deepfakes, information barrier evasion and AI model manipulation, say attorneys at Debevoise.
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Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks
Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.
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SEC Off-Channel Comms Action Hints At Future Enforcement
Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.
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Perspectives
Criminal Defendants Should Have Access To Foreign Evidence
A New Jersey federal court recently ordered prosecutors to obtain evidence from India on behalf of the former Cognizant Technology executives they’re prosecuting — a precedent that other courts should follow to make cross-border evidentiary requests more fair and efficient, say Kaylana Mueller-Hsia and Rebecca Wexler at UC Berkeley School of Law.
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McKesson May Change How AKS-Based FCA Claims Are Pled
The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Teach Your Party Representative The Art Of Nonverbal Cues
As illustrated by recent reports about President Donald Trump’s nonverbal communication in court, jurors notice what’s happening at counsel table, which may color their perceptions of the case as a whole, so trial attorneys should teach party representatives to self-monitor their nonverbal behaviors, says Clint Townson at Townson Consulting.
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Georgia's Foreign Lobbying Bill Is Not A FARA Copycat
Though a recently passed bill in Georgia aims to mirror the transparency goals of the federal Foreign Agents Registration Act by imposing state-specific disclosure requirements for foreign lobbyists, the legislation’s broad language and lack of exemptions could capture a wider swath of organizations, say attorneys at Holtzman Vogel.