Former Jefferies Group residential mortgage-backed securities trader Jesse Litvak on Tuesday asked the Second Circuit to let him stay out of prison while his securities fraud appeal plays out, saying that like in his first appeal, he's again raised a substantial legal question that will likely lead to a reversal or new trial.
A Beverly Hills real estate developer has reached a deal to settle a U.S. Securities and Exchange Commission suit alleging he misappropriated $2.5 million from investors in five Southern California property development companies that he controlled.
An attorney and former broker who copped to insider trading but whose case was thrown out in the wake of the Second Circuit's landmark Newman decision on Tuesday told the Second Circuit that his related settlement with the U.S. Securities and Exchange Commission should be vacated as well, since it was clearly based on his guilty plea.
Wells Fargo & Co. said Tuesday that former Federal Reserve Gov. Elizabeth Duke will take over as chair of the embattled bank’s board next year, amid calls from lawmakers for the removal of all Wells Fargo board members in place during the fake-account scandal.
An Indian media and entertainment company and HBO distribution partner owned by 21st Century Fox announced Tuesday that four arrests had been made related to the leak of an unaired “Game of Thrones” episode earlier this month.
A staffing shuffle at New Jersey Attorney General Christopher S. Porrino’s office will see his first assistant AG depart for private practice after three years on the job and his executive assistant AG retire from her 30-year career, according to an announcement Tuesday.
The alleged mastermind behind a $70 million ticket-resale Ponzi scheme was denied permission to fly to Las Vegas and ply his trade ahead of the landmark Mayweather-McGregor boxing bout, as the criminal case against him got underway in New York federal court Tuesday.
Swiss asset manager Prime Partners SA on Tuesday entered a deal in which the U.S. government agreed not to bring criminal charges for helping Americans dodge taxes after the firm opened its files on certain client accounts and agreed to pay $5 million.
The Securities Investor Protection Corp. urged a New York bankruptcy court on Tuesday to approve a request by BakerHostetler for $32 million in legal fees for four months of discounted work managing the liquidation of Bernie Madoff's defunct investment firm, saying the firm has achieved substantial progress.
A southern New Jersey attorney who was sentenced to probation for his role in a mortgage fraud scheme earlier this year has tendered his consent to disbarment, according to a state Supreme Court order signed Monday.
Former financial advisers who sold investments in what turned out to be a $7 billion Ponzi scheme run by R. Allen Stanford have asked the U.S. Supreme Court to reverse the Fifth Circuit and order to arbitration the Ponzi scheme receiver’s attempt to claw back $215 million.
Two Navajo women and a Crow woman have brought sexual abuse complaints against the Church of Jesus Christ of Latter-day Saints, claiming the church failed to protect them when they were abused as children while taking part in a Mormon off-reservation home-placement program.
A Montana-based former technology company executive convicted of fraud has hired Attorney General Jeff Sessions' personal lawyer to bring a lawsuit on Monday arguing a ban on convicts owning guns contains an exemption for “securities and accounting offenses.”
Companies including Apple, Facebook, Google, Twitter and Verizon on Tuesday urged the U.S. Supreme Court to rule that a warrant is needed to obtain historical cellphone location records, arguing that existing Fourth Amendment doctrine should be expanded to reflect new technological realities.
An executive at Istanbul-based Türkiye Halk Bankası AŞ accused of helping Turkish trader Reza Zarrab evade U.S. sanctions was denied bail Tuesday when a New York federal judge ruled there were no conditions or combination of conditions that would assure his appearance in court.
The Third Circuit on Tuesday found that a Pennsylvania federal judge erred by not looking further into a convicted fraudster's assertions that his lawyer’s omissions led him to turn down a five-year plea deal, and sent the case back for an evidentiary hearing.
A New Jersey federal judge on Tuesday ruled that a former public official convicted in the George Washington Bridge lane-closing scandal has knowingly and voluntarily waived any potential conflict of interest with Jones Day attorneys representing her as appellate counsel in light of the firm's representation of the Port Authority of New York and New Jersey in related matters.
A Pennsylvania state representative and an attorney on Tuesday both pled guilty to state misdemeanor charges stemming from allegations that they took steps to support an Allegheny County illegal gambling ring.
Privacy advocates have urged the high court to review and overturn a ruling enabling the government to intercept and sift through the personal data of U.S. citizens without a warrant, arguing that a foreign surveillance law is overbroad and fails to protect the constitutional rights of Americans.
The Fourth Circuit on Monday undid an Algerian native's conviction for immigration fraud through the Diversity Immigrant Visa Program, finding that the judge in the case improperly made disparaging remarks about the visa program to the jury.
Only a handful of the largest U.S. law firms are led by women. Here, in their own words, are perspectives from Shook Hardy & Bacon Chair Madeleine McDonough, Crowell & Moring Chair Angela Styles, Morgan Lewis & Bockius Chair Jami Wintz McKeon and Goodwin Procter Chair Emeritus Regina Pisa.
The ExxonMobil penalty is the latest in a string of recent, increasingly aggressive U.S. Treasury Department Office of Foreign Assets Control enforcement actions targeting nonfinancial institutions and particularly entities operating in the oil and gas industry, say attorneys with Ropes & Gray LLP.
Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.
It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.
Surprisingly, despite extensive media coverage of the Russia investigation, virtually no one has focused on the irrationality of allowing Vice President Pence to become president if the facts reveal that the election itself was fraudulent, says Robert Klonoff, a professor at Lewis & Clark Law School.
The Second Circuit's Allen decision Wednesday tilts the scales toward subjects and targets in multinational investigations. U.S. prosecutors could be forced to get involved in international investigations earlier than they might like, say Gregory O’Connell and Peter Sluka of De Feis O’Connell & Rose PC.
What passed constitutional muster when the Sherman Act was a misdemeanor merits another look now that the statute carries a maximum jail time of 10 years. I have a proposal to fix the criminal element of the Sherman Act, says Robert Connolly of GeyerGorey LLP.
In the penultimate installment of this series, Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project answer a question on many legal analysts’ minds: What if both sides’ expert witnesses sat in a hot tub discussing the case while a jury watched?
Recently, this publication featured an op-ed in which one law firm partner contended that midsize firms will be the next casualty of the legal market, due to a supposed inability to compete with BigLaw or boutique firms for business. Though we can expect to see Am Law firms continue to lead the market in megadeals and life-or-death litigations, by all indications midsize is on the rise, says Ronald Shechtman of Pryor Cashman LLP.
With the recent charges brought against Barclays PLC, the U.K. Serious Fraud Office and Financial Conduct Authority have made clear their intention to expand the law on corporate criminal liability beyond the current identification doctrine and punish those who fail to keep up new legal standards, say Robert Amaee and James McSweeney of Quinn Emanuel Urquhart & Sullivan LLP.