White Collar

  • May 03, 2024

    Sentencing Delayed For Ex-Fintech Exec In Crypto Case

    Sentencing for the CEO of fintech company Hydrogen Technology Corp. was delayed Friday after a dispute over how to calculate the amount of money lost in the conspiracy to manipulate the market for Hydrogen's digital assets.

  • May 03, 2024

    3rd Circ. Clarifies Review Standard For Derivative Suits

    In a precedential ruling Friday declining to revive Cognizant Technology investors' derivative claims over a bribery scandal, the full Third Circuit held that the best way to review such cases on appeal was from the beginning, not giving deference to the lower court's decision or considering whether there was an abuse of discretion.

  • May 03, 2024

    SoFi Unit To Pay FINRA $1.1M To Settle Customer ID Claims

    SoFi Securities has agreed to pay $1.1 million to settle Financial Industry Regulatory Authority claims that it lacked a suitable user verification process for the firm's cash management brokerage business, allowing the opening of 800 accounts used by third parties to illegally transfer $8.6 million from other financial institution accounts.

  • May 03, 2024

    OneTaste Duo's Bid To Toss Charges Slapped Down By Judge

    A Brooklyn federal judge on Friday denied a bid by two former executives of OneTaste to dismiss an indictment accusing them of extracting free labor from alleged members of the San Francisco sexual wellness company through abusive tactics.

  • May 03, 2024

    Feds Say They Didn't Break Law Pursuing Ozy Media, Owner

    Prosecutors are urging a New York federal judge not to grant a defunct media startup and its owner Carlos Watson's request to dismiss the criminal fraud case against them as parties prepare to start picking their jury later this month.

  • May 03, 2024

    Menendez Says Feds' Talk Of Psychiatrist Invaded Privacy

    U.S. Sen. Bob Menendez says prosecutors in his corruption case violated a New York federal court order and may have tainted the jury pool by allegedly revealing his sensitive private health information in a publicly filed motion opposing the New Jersey politician's request to introduce expert testimony by a psychiatrist.

  • May 03, 2024

    Coverage Recap: Day 7 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 seven.

  • May 03, 2024

    Texas Rep. Cuellar Charged With Taking Bribes

    U.S. Rep. Henry Cuellar and his wife have been indicted on federal charges they accepted bribes from entities in Azerbaijan and Mexico in exchange for political favors, prosecutors said Friday. 

  • May 03, 2024

    No Retrial Coming After $20M Cannabis Investor Verdict

    A Los Angeles judge has denied a bid by CADM Inc. for a retrial following a $20 million verdict against it and its affiliates on claims that they defrauded investors with a real estate scheme, finding that the motion was not served to the proper attorneys on time, and even if it had been, the judgment would stand.

  • May 03, 2024

    Ohio Atty Gets 3rd Suspension After Not Reporting Conviction

    A Cleveland-area attorney trying to get reinstated after neglecting bankruptcy cases was suspended yet again by the Ohio Supreme Court, which said he failed to report a drug conviction to his county bar association for almost eight months.

  • May 03, 2024

    Kwok's Ex-Chief Of Staff Pleads Out Before $1B Fraud Trial

    The former chief of staff to exiled Chinese billionaire Ho Wan Kwok pled guilty in Manhattan federal court on Friday to participating in a $1 billion investor fraud, less than three weeks before she was scheduled to go to trial alongside her erstwhile boss.

  • May 02, 2024

    Whistleblower Claims Would 'Destroy' Autonomy, GC Was Told

    Autonomy's former U.S. general counsel testified Thursday in the criminal fraud trial of former CEO Michael Lynch that the company's chief operating officer didn't want a whistleblower's claims to get into court, telling him that while the "law" was on their side, "the facts look bad" and would "destroy Autonomy."

  • May 02, 2024

    Boeing Supplier Sues Texas AG To Block Safety Investigation

    The subsidiary of a company that produces fuselages for Boeing's 737 jets sued on Wednesday to block the Texas attorney general's investigation into apparent manufacturing issues that have caused recent midair emergencies, saying the probe is unconstitutional and violates the company's right to be free from unreasonable searches.

  • May 02, 2024

    Endo Judge Hopes Criminal Sentence Warns Opioid Makers

    A Michigan federal judge said Thursday she hoped Endo's criminal sentence for falsely advertising a pain medication as "abuse deterrent" would itself be a deterrent for other opioid makers, as she accepted the company's recent $200 million settlement deal with federal prosecutors. 

  • May 02, 2024

    SEC Lands $25M Judgment In TikToker-Wannabe Ponzi Suit

    A South Carolina man and his companies must pay the U.S. Securities and Exchange Commission nearly $24.9 million to settle claims that he misappropriated investors' money to make Ponzi payments to earlier investors and to pay for luxury cars and over $1 million to TikTok creators, according to judgments issued in Georgia federal court.

  • May 02, 2024

    NY Jury Hears Trump On Tape Discussing $150K Payment

    Manhattan jurors in Donald Trump's criminal trial heard secretly recorded conversations of the former president discussing what prosecutors say is a $150,000 hush money payment for a former Playboy model intended to boost his 2016 election campaign.

  • May 02, 2024

    'We're Not All Innocent': 6th Circ. Tackles Whitmer Kidnap Case

    A Sixth Circuit panel on Thursday questioned prosecutors who convicted two men of plotting to kidnap Michigan's governor who argue they should have been able to show jurors more evidence to support their entrapment defense, with one judge saying there's a gray area between being "innocent" and being "predisposed" to commit a crime.

  • May 02, 2024

    Conn. Venue Did Not Taint Malware Conviction, 2nd Circ. Says

    The Second Circuit on Thursday upheld a Russian citizen's conviction for his role in supporting hackers to infect hundreds of thousands of computers with malware, saying the government provided sufficient evidence while also rejecting his argument that the Connecticut federal district court was the wrong venue for the matter.

  • May 02, 2024

    Ethics, Military Orgs. Back Review Of Judge's Non-Recusal

    An ethics institute at the University of Pennsylvania and a military justice organization told the U.S. Supreme Court on Thursday that a D.C. Circuit judge deprived a former al-Qaida member of a fair hearing when the judge did not recuse himself from the Guantanamo detainee's appeal.

  • May 02, 2024

    Ex-JPM Trader Slams DOJ's 'Rank Opportunism' In Doc Suit

    A former JPMorgan Chase & Co. foreign exchange trader is pressing a D.C. federal court to order the release of investigative material from the government's failed market manipulation criminal case against him, saying the U.S. Department of Justice's arguments against disclosure amount to "rank opportunism."

  • May 02, 2024

    No Damages For Native Americans In State Prison

    A group of Native Americans is not entitled to millions in compensation for wrongful prosecution and incarceration in state prison, a Federal Circuit panel said, finding that the group's arguments that provisions of two 19th century self-government rights' treaties as "money-mandating" are unpersuasive.

  • May 02, 2024

    Texas Tax Preparers Cop To $3.7M Tax Fraud Scheme

    The owner of a Texas tax preparation company and her two sisters who worked as employees all pled guilty Thursday to preparing nearly $3.7 million worth of false returns riddled with fraudulent credits, according to the U.S. Department of Justice.

  • May 02, 2024

    State Legislators Urge Feds To Change Cannabis' Status

    A coalition of state lawmakers on Thursday urged the heads of the U.S. Department of Justice and its drug enforcement agency to prioritize changing cannabis' status as a highly restricted drug.

  • May 02, 2024

    Cisco Counterfeiting Scheme Earns Fla. Man 6½ Years

    A Florida resident was sentenced to 6½ years in prison after pleading guilty to running what New Jersey federal prosecutors said was an "enormous" scheme to sell over $1 billion worth of counterfeit and broken Cisco networking devices.

  • May 02, 2024

    Ex-FTX Boss Ryan Salame To Give Up $5.9M Bahamas House

    Ryan Salame, the former co-chief executive of FTX Digital Markets, an affiliate of bankrupt cryptocurrency exchange FTX Trading Ltd., has agreed to transfer a $5.9 million house he owns in the Bahamas to FTX in lieu of paying the firm restitution over fraudulent political donations, according to a Wednesday motion.

Expert Analysis

  • High Court's Jan. 6 Rioter Case May Have Wide Ripple Effects

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    The U.S. Supreme Court will soon hear oral arguments in Fischer v. United States, a case that will determine whether a law enacted after the Enron scandal can be used to prosecute Jan. 6 rioters, and could affect the government’s ability to charge those who impede a range of official proceedings, say Brook Dooley and Sara Fitzpatrick at Keker Van Nest.

  • Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

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    Massive financial and criminal liability has led to the recent collapse of major cryptocurrency companies and put bankruptcy courts in the spotlight, underscoring the urgent need for a comprehensive regulatory framework, say Tara Pakrouh and Eric Monzo at Morris James.

  • Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law

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    A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.

  • Intent-Based Theory Of Liability In Hwang Creates Ambiguity

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    A case against Archegos Capital founder Bill Hwang alleging that he participated in a securities manipulation scheme, which goes to trial next month in New York federal court, highlights the need for courts to clarify the legal standard defining "market manipulation," says Edward Imperatore at MoFo.

  • How A Motion Before Justices May Help Trump Beyond Court

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    Even if Donald Trump loses his presidential immunity claim before the U.S. Supreme Court, the delay created by the motion may mean a trial can't be completed before the November election, says Paul Tuchmann at Wiggin and Dana.

  • Opinion

    $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • Defense Attys Must Prep For Imminent AI Crime Enforcement

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    Given recent statements by U.S. Department of Justice officials, white collar practitioners should expect to encounter artificial intelligence in federal criminal enforcement in the near term, even in pending cases, say Jarrod Schaeffer and Scott Glicksman at Abell Eskew.

  • Lessons For Nursing Facilities From DOJ Fraud Settlement

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    The U.S. Department of Justice's recent settlement with the owner of skilled nursing and assisted living facilities in Florida provides a cautionary tale of potential fraud risks, and lessons on how facilities can mitigate government enforcement actions, say Callan Stein and Rebecca Younker at Troutman Pepper.

  • How Purdue Pharma High Court Case May Change Bankruptcy

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    The U.S. Supreme Court’s upcoming ruling in Purdue Pharma may be the death of most third-party releases in Chapter 11 cases, and depending on the decision’s breadth, could have much more far-reaching effects on the entire bankruptcy system, say Brian Shaw and David Doyle at Cozen O'Connor.

  • 5 Takeaways From SAP's Foreign Bribery Resolutions

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    German software company SAP’s recent settlements with the U.S. Department of Justice and U.S. Securities and Exchange Commission, resolving allegations of foreign bribery, provide insights into government enforcement priorities, and how corporations should structure their compliance programs to reduce liability, say attorneys at Perkins Coie.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Perspectives

    Context Is Everything In Justices' Sentencing Relief Decision

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    In the U.S. Supreme Court’s recent Pulsifer v. U.S. decision, limiting the number of drug offenders eligible for sentencing relief, the majority and dissent adopted very different contextual frames for interpreting the meaning of “and” — with the practical impact being that thousands more defendants will be subject to severe mandatory minimums, says Douglas Berman at Moritz College of Law​​​​​​​.

  • Opinion

    The SEC Is Engaging In Regulation By Destruction

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    The U.S. Securities and Exchange Commission's recent use of regulation by enforcement against digital assets indicates it's more interested in causing harm to crypto companies than providing guidance to the markets or protecting investors, says J.W. Verret at George Mason University.

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