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White Collar
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February 28, 2024
Fla. Judge OKs $43.5M Deutsche Bank Deal In Ch. 15 Case
A Florida bankruptcy judge on Wednesday approved a $43.5 million settlement between Deutsche Bank AG and liquidators for a group of Caribbean-based companies to resolve claims against the bank for its alleged role in a real estate Ponzi scheme targeting rich South Americans.
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February 28, 2024
Marcum CPA Sues To Stop SEC's 'Unprecedented' In-House Case
A certified public accountant and Marcum LLP engagement partner has sued the U.S. Securities and Exchange Commission in New York federal court, seeking to block its administrative case against him by arguing his constitutional rights are being violated by an "entirely unprecedented" enforcement action.
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February 28, 2024
Wells Fargo Fired Teller For AML Whistleblowing, Suit Says
Wells Fargo faces an ex-employee's suit alleging the bank fired her in retaliation after she raised concerns that the bank's "streamlined" online account opening process allowed customers to open accounts even if they'd previously failed screening aimed at preventing money laundering.
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February 28, 2024
Biotech Co., Ex-Exec And Investor To Pay $5.2M In SEC Suit
A New York federal judge entered final judgments against medical device company RenovaCare, its controlling shareholder, and its former chief operating officer to settle a U.S. Securities and Exchange Commission suit accusing them of artificially inflating RenovaCare's stock price, ordering them to pay a total of $5.2 million.
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February 28, 2024
Binance Founder Against More Travel Limits, Floats UAE Trip
Binance founder Changpeng Zhao has told a Washington federal judge he opposes prosecutors' motion for further travel restrictions and suggested, without explicitly asking, that he be allowed to see his family in the United Arab Emirates.
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February 28, 2024
Kwok Trustee Seeks Second Judge's Help With Clawbacks
Offering four high-profile bankruptcies as examples, the Chapter 11 trustee overseeing the $374 million case of Chinese exile Ho Wan Kwok has suggested that a second Connecticut bankruptcy judge could act as a mediator to help speed a deluge of 278 avoidance actions efficiently toward possible settlements.
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February 28, 2024
Indivior's $385M Suboxone Antitrust Deal Gets Final OK
A Pennsylvania federal judge has granted final approval to Indivior's $385 million settlement with direct purchasers in antitrust litigation over its opioid addiction treatment Suboxone and awarded roughly $120 million in attorney fees to the purchasers' counsel.
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February 28, 2024
No Direct Evidence Ties 'Rust' Armorer To Live Ammo, Jury Told
A New Mexico detective testified Wednesday in the involuntary manslaughter trial of "Rust" film armorer Hannah Gutierrez-Reed that investigators were unable to definitively show who brought live ammunition onto the movie's set before the fatal shooting of a cinematographer.
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February 28, 2024
Judge Clears Fujian Jinhua On Feds' Trade Secrets Claims
A California federal judge has found that the federal government failed to show semiconductor-maker Fujian Jinhua Integrated Circuit Co. Ltd. is guilty of various claims in a suit accusing it of economic espionage in a trade secrets case.
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February 28, 2024
Construction Co. Boss Gets 9 Mos. For $1M Payroll Tax Fraud
A Boston federal judge has sentenced the owner of two Massachusetts construction companies to nine months in prison for failing to pay more than $1 million in employment taxes over a decade.
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February 28, 2024
Embattled Philly Loan Biz Principals Hit With RICO Charges
Legal troubles for the principals of Philadelphia's Par Funding cash advance company are mounting as federal prosecutors hit them with a new indictment adding Racketeer Influenced and Corrupt Organizations Act allegations on top of existing charges that the principals bilked investors out of hundreds of millions of dollars and threatened violence against borrowers.
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February 28, 2024
Wash. Man Accused Of Killing, Selling Eagles To Plead Guilty
One of two men accused of conspiring to kill federally protected bald eagles and golden eagles on tribal lands in northwest Montana to sell on the black market has entered a plea agreement, court records show.
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February 28, 2024
COVID Fraud Jury Can't Hear Of Gov't's Loan Error, Feds Say
A jury shouldn't be shown evidence of the U.S. government's error in approving a Michigan business owner's application for a Paycheck Protection Program loan while he was under indictment, federal prosecutors have argued.
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February 28, 2024
Ex-NYPD Officer Accused Of Forex Investment Fraud
A former NYPD officer has been charged with using misrepresentations to induce people to invest in his foreign exchange fund and then paying them back with proceeds from future investors to give the appearance of legitimacy.
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February 28, 2024
G20 To Talk Global Minimum Wealth Tax At Brazil's Behest
The Group of 20 nations' finance ministers and central bank governors will hear proposals for a global minimum tax on wealth Thursday, Brazil's finance minister said Wednesday while expressing support for the policy idea at the opening of meetings in São Paulo.
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February 28, 2024
Supreme Court Will Decide Trump's Criminal Immunity Claim
The U.S. Supreme Court said Wednesday it will review former President Donald Trump's claim that he is immune from federal charges related to interfering in the 2020 presidential election, setting oral arguments in the case for late April.
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February 28, 2024
Halkbank Immunity Gambit Doesn't Appear To Sway 2nd Circ.
The Second Circuit did not appear keen Wednesday to dismiss criminal charges accusing Halkbank of laundering over $1 billion of Iran oil proceeds, after the U.S. Supreme Court directed arguments on the Turkish state-owned lender's assertion that common-law sovereign immunity protects it.
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February 28, 2024
Tax Preparer Cops To $2.6M Return Fraud After Jury Seated
A Texas man filed a last-minute guilty plea to arranging around 400 false tax returns just after a jury was seated in his criminal case this week, according to court documents filed in Lone Star State federal court.
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February 28, 2024
Judge Says Ermi Counterclaims In Qui Tam Case Can Stand
A Georgia federal judge has refused to free Ermi LLC's former chief compliance officer from counterclaims the company lodged in response to her whistleblower suit accusing the company of fraud and retaliation, with the judge saying the company has adequately alleged breaches of fiduciary duty and contract claims.
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February 28, 2024
Classified Docs Out Of Defense's Reach In Mar-A-Lago Case
The Florida federal judge overseeing former President Donald Trump's criminal case over allegedly mishandling secret documents after leaving office ruled Wednesday that defense counsel can't see government motions asking to restrict classified information produced in discovery, a day after Trump's two co-defendants were prohibited from reviewing 5,100 pages of classified material.
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February 28, 2024
Erika Girardi Can't Shed Costume Merchant's Suit
A California federal judge has kept alive a costume merchant's malicious prosecution claim against singer and reality TV star Erika Girardi, saying the merchant showed evidence that Girardi had him wrongfully arrested and prosecuted on made-up fraud charges.
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February 28, 2024
US Trustee Taps Ex-Prosecutor To Be FTX Examiner
The U.S. Trustee's Office has urged a Delaware bankruptcy judge to allow Robert Cleary, a former U.S. attorney who is now with Patterson Belknap Webb & Tyler LLP, to investigate FTX's finances as an examiner in the defunct cryptocurrency company's Chapter 11 case.
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February 28, 2024
Trump Can't Freeze $465M Penalty But Can Seek Loans
A New York state appellate judge on Wednesday refused to freeze the $465 million civil fraud judgment against Donald Trump while he appeals the award, but said the former president could take out loans to cover the cost of the judgment.
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February 28, 2024
NuVasive Can Pierce Co. To Collect From Ex-Rep, Judge Says
NuVasive Inc. can pierce the corporate veil to collect a $617,000-plus arbitration judgment it won against a company operated by one of its former sales representatives who improperly cut ties with the medical device company and violated his noncompete agreement, a Boston federal judge has ruled.
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February 28, 2024
DOJ Atty, University Of Chicago Prof Returns To MoloLamken
National boutique firm MoloLamken said Tuesday that legal scholar and University of Chicago law professor Eric Posner will return to the firm after a stint as counsel in the Justice Department's Antitrust Division.
Expert Analysis
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Checking In On How SuperValu Has Altered FCA Litigation
Four months after the U.S. Supreme Court's ruling in U.S. ex rel. Chutte v. SuperValu, the decision's reach may be more limited than initially anticipated, with the expansion of the scienter standard counterbalanced by some potential defense tools for defendants, say Elena Quattrone and Olivia Plinio at Epstein Becker.
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Tossed FIFA Bribery Convictions May Spur New DOJ Offense
After a New York federal court vacated the bribery convictions of two defendants in the U.S. Department of Justice’s sprawling FIFA probe, prosecutors may continue to pursue foreign commercial corruption through other means, albeit with some limitations, say attorneys at Cleary.
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Series
Participating In Living History Makes Me A Better Lawyer
My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.
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Opinion
Private Equity Owners Can Remedy Law Firms' Agency Issues
Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.
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Opinion
Calif. Ruling Got It Wrong On Trial Courts' Gatekeeping Role
Ten years after the California Supreme Court reshaped trial judges’ role in admitting expert opinion testimony, a state appeals court's Bader v. Johnson & Johnson ruling appears to undermine this precedent and will likely create confusion about the scope of trial courts’ gatekeeping responsibility, say Robert Wright and Nicole Hood at Horvitz & Levy.
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How Jan. 6 Riot Cases Could Affect White Collar Defendants
Though the prosecutions of individuals involved in the Jan. 6 attack on the U.S. Capitol deal with fact patterns markedly different from white collar offenses, the emerging case law on what it means to act “corruptly” will likely pose risks and opportunities for white collar defendants and their attorneys, says Ben Jernigan at Zuckerman Spaeder.
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How To Protect Atty-Client Privilege While Using Generative AI
When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.
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Futility Exception To Remanding Rule Could Be On Last Legs
A recent Fifth Circuit decision squarely confronting the futility exception to remanding cases with insufficient subject matter jurisdiction leaves the Ninth Circuit alone on one side of a circuit split, portending a tenuous future for the exception, say Brett Venn and Davis Williams at Jones Walker.
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How New Lawyers Can Leverage Feedback For Growth
Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.
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RICO Trade Secret Standard Prevails Within 9th Circ. Courts
Federal courts in the Ninth Circuit seem to be requiring a relatively high degree of factual detail — arguably more than is expressly mandated by statute — to plead and maintain Racketeer and Corrupt Organizations Act claims in trade secret disputes, says Cary Sullivan at Jones Day.
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Post-Wynn Dismissal FARA Reform Bill May Have A Shot
A recently introduced bill in Congress, prompted by a federal court’s dismissal of charges against Steve Wynn last year, would amend the Foreign Agents Registration Act to clarify that foreign agents have an ongoing obligation to register under the statute, and may be sufficiently narrow to become law where previous reform efforts have failed, say attorneys at Covington.
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Corporate Compliance Lessons From FirstEnergy Scandal
Fallout from a massive bribery scheme involving Ohio electric utility FirstEnergy and state officeholders — including the recent sentencing of two defendants — has critical corporate governance takeaways for companies and individuals seeking to influence government policymaking, say attorneys at Wilson Sonsini.
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Dissecting The Proposed Foreign Extortion Prevention Act
If the Foreign Extortion Prevention Act — recently introduced in Congress seeking to fill a gap in the Foreign Corrupt Practices Act — becomes law, it will be music to the ears of many U.S. businesses that feel that they bear an unfair burden when it comes to foreign bribery enforcement, say attorneys at MoFo.
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Info Exchanges Must Stay Inside Now-Invisible Antitrust Lines
While the antitrust agencies recently withdrew long-standing enforcement policy statements for being "overly permissive" on information exchanges, we should not assume that all information exchanges are inherently suspect — they are still permissible if carefully constructed and vigorously managed, say attorneys at Nelson Mullins.
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Twitter Legal Fees Suit Offers Crash Course In Billing Ethics
X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.