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White Collar
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April 29, 2024
'Tornado Cash' Crypto Fraud Wasn't Free Speech, Feds Say
The founder of the Tornado Cash cryptocurrency exchange is mistaken in his arguments that First Amendment protections on computer code are grounds to dismiss his money laundering and sanctions-dodging charges, prosecutors told a Manhattan federal judge.
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April 29, 2024
Menendez Defense Wants To Probe Qatari-Tied Investment Co.
Defense attorneys representing U.S. Sen. Bob Menendez in the government's second bribery case against the New Jersey Democrat want to depose the general counsel and chief operating officer of an entity dubbed "Qatari investment company," according to filings made in New York federal court.
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April 29, 2024
StarKist Looks To Block Guilty Plea From Price-Fixing Trial
StarKist and its South Korea-based owner are urging a California federal judge to reject a bid by packaged tuna buyers to bring evidence of the tuna company's guilty plea into the civil litigation, arguing that the plea agreement with the U.S. Department of Justice is irrelevant to a trial over claims that major tuna brands conspired to keep prices high.
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April 29, 2024
U.S. Army Major Convicted Of Smuggling Guns Into Ghana
A 42-year-old U.S. Army major has been found guilty of smuggling guns to Ghana and lying on the stand in a separate criminal case about his sexual relationship with a witness, federal prosecutors in North Carolina announced Monday.
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April 29, 2024
Feds Accused Of 'Outrageous' Misconduct In Ozy Media Case
Ozy Media and the defunct startup's founder want a New York federal judge to toss a criminal fraud case against them, accusing the government of prosecutorial misconduct and violating attorney-client privilege protections.
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April 29, 2024
Justices To Weigh RICO Injury Scope In CBD Case
The U.S. Supreme Court on Monday agreed to hear a case brought by a trio of CBD companies asking the justices to establish whether a plaintiff can bring a personal injury claim under the Racketeer Influenced and Corrupt Organizations Act.
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April 26, 2024
Law360 Reveals Titans Of The Plaintiffs Bar
In the past year, plaintiffs have won settlements and judgments for millions and billions of dollars from companies such as Wells Fargo, Goldman Sachs, Facebook and Fox News, with many high-profile cases finally wrapping up after years of fighting. Such cases — involving over-the-top compensation packages, chemical contamination, gender discrimination and data mining — were led by attorneys whose accomplishments earned them recognition as Law360's Titans of the Plaintiffs Bar for 2024.
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April 26, 2024
Ex-McKinsey Partner Says Firm Made Him Opioids 'Scapegoat'
A former McKinsey & Co. partner lobbed defamation claims at the consulting firm, claiming Friday that it lied to the government and the public about his purported role in deleting evidence amid government investigations into the firm's work with opioid manufacturers, an alleged scheme designed to make him the "scapegoat."
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April 26, 2024
Trump Casts Tabloid Deal As 'Standard Operating Procedure'
Donald Trump's attorneys tried to undermine Manhattan prosecutors' lead witness in his criminal trial on Friday, casting his deal to boost his presidency with the help of a friendly tabloid baron as nothing more than a savvy business relationship that was perfectly legal.
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April 26, 2024
Confusion Over Law Led To Doc Fight, Astroworld Judge Says
A special master appointed to the civil litigation stemming from the deadly 2021 Astroworld festival told attorneys Friday that a "good faith misunderstanding" of criminal statutes has likely led to several discovery disputes, encouraging the parties to try to come to an agreement about what portion of the Houston Police Department's investigative file on the tragedy is discoverable.
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April 26, 2024
Ex-BP Manager Charged With TravelCenters Insider Trading
A former senior manager at BP PLC on Friday became the second person accused by the U.S. Department of Justice and the U.S. Securities and Exchange Commission of engaging in insider trading over the British oil and gas company's $1.3 billion planned acquisition of TravelCenters of America Inc.
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April 26, 2024
Giuliani Seeks Ch. 11 Judge's OK To Appeal $148M Verdict
Rudy Giuliani asked a New York bankruptcy judge on Friday for permission to move forward with an appeal of a $148 million defamation award to two Georgia poll workers he accused of committing ballot fraud.
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April 26, 2024
Thomas' Long Quest To Undo A 'Grave Constitutional Error'
A quarter-century after Justice Clarence Thomas cast a pivotal vote against jury trial rights and rapidly regretted it, his relentless campaign to undo the controversial precedent is suddenly center stage with a serious shot at succeeding, as judges and lawyers increasingly deem the decision dubious and the U.S. Supreme Court chips away at its edges.
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April 26, 2024
Soccer Star Says Binance Is Target Of $1B Fla. Suit, Not Him
Portuguese soccer star Cristiano Ronaldo has urged a Florida federal judge to dismiss a $1 billion proposed class action lawsuit against him over promoting Binance.US, saying the embattled cryptocurrency exchange is listed as the target of the suit — in an "apparent Freudian slip" — instead of him.
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April 26, 2024
Umpqua Bank Seeks Win On Investors' Ponzi Aiding Claims
Oregon-based Umpqua Bank has asked a San Francisco federal judge to toss claims that it aided and abetted a $250 million real estate Ponzi scheme, arguing the investors who brought the suit saw that their funds were put into "legitimate" investments.
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April 26, 2024
Ex-Iowa College Athletes Sue Investigators Over Betting Probe
More than two dozen former athletes at Iowa colleges who were implicated in an illegal sports betting investigation filed suit in federal court on Friday, accusing state investigators of using illegal searches to obtain evidence against them in the widespread, high-profile probe.
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April 26, 2024
50 Cent's GC Beats Wiretap Claim In Liquor Feud, For Now
A Manhattan judge on Friday threw out a claim that the general counsel for rapper Curtis "50 Cent" Jackson illegally recorded a former Beam Suntory Inc. sales contractor during an embezzlement investigation, but allowed the consultant to revise his pleading.
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April 26, 2024
Ex-Mass. Trooper Handed 5 Years For No-Work OT, Tax Fraud
A former Massachusetts state trooper convicted of stealing overtime pay, lying on his taxes and cheating to get student aid for his son was sentenced Friday by a federal judge to five years in prison for his leadership role in the sprawling overtime fraud scheme.
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April 26, 2024
Coverage Recap: Day 4 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 four.
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April 26, 2024
11th Circ. Finds No Anti-Black Juror Bias In Murder Trial
The Eleventh Circuit has denied a new trial to a Mexican man arguing prosecutors used all but one of their peremptory strikes to exclude potential jurors who were Black or Hispanic at the trial in Georgia where he was sentenced to life in prison for murdering a whistleblower connected to his work.
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April 26, 2024
Ex-NY Court Atty Slapped With Fine After Misconduct Verdict
A Manhattan judge hit a former appeals court attorney with a $55,000 fine Friday after a jury found that she unlawfully used her position to help her husband and his law firm earn that same amount from a well-heeled client.
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April 26, 2024
CBD Co's CEO Agrees To Pay $350K To End SEC Suit
The one-time chief officer of cbdMD Inc. has agreed to pay $350,000 to end a civil enforcement action brought by the U.S. Securities and Exchange Commission accusing him of defrauding investors of a private investment fund he managed.
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April 26, 2024
Locke Lord Strikes $12M Deal To End Claims Over Gas Fraud
Locke Lord LLP will likely pony up $12.5 million to settle claims it stood by as its clients carried out a fraudulent $122 million oil and gas scheme, with a Texas federal magistrate judge recommending approval of the settlement at a hearing in Fort Worth.
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April 26, 2024
The Week In Trump: Tabloid Testimony, High Court Drama
Donald Trump and his attorneys have been fighting high-stakes legal battles on several fronts as they grappled with a criminal hush money trial in Manhattan, argued at the U.S. Supreme Court for presidential immunity and tried to quash criminal election interference-related charges in Georgia.
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April 26, 2024
NH Atty Disbarred After Failed Try At Creating False Evidence
The New Hampshire Supreme Court has ordered the disbarment of an attorney who created false documents and later destroyed evidence in a years-long attempt to duck disciplinary proceedings over his alleged mishandling of client funds.
Expert Analysis
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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Following Banking Regulators' Breadcrumbs To 2024 Priorities
Through blog posts, speeches, and formal guidance and regulations, prudential and other federal and state financial regulators laid out a road map last year pointing to compliance priorities that should be reflected in financial institutions' planning this year, say Laurel Loomis Rimon and Gina Shabana at Jenner & Block.
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New SDNY Whistleblower Program May Be A Game-Changer
A new pilot program in the U.S. Attorney’s Office for the Southern District of New York promises to immunize from prosecution certain individuals who blow the whistle on financial crimes and corruption, and if similar self-disclosure programs are any indication, this significant new policy may measurably increase white collar investigations, say attorneys at Paul Hastings.
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1869 Case May Pave Off-Ramp For Justices In Trump DQ Fight
In deciding whether former President Donald Trump is disqualified from Colorado's Republican primary ballots, the U.S. Supreme Court could rely on due process principles articulated in a Reconstruction-era case to avert a chaotic or undemocratic outcome, says Gordon Renneisen at Cornerstone Law Group.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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A Guide To New Russia Sanctions For Foreign Financial Cos.
Attorneys at Foley Hoag take foreign financial companies on a deep dive into the compliance advice the U.S. Office of Foreign Assets Control issued after President Joe Biden's December executive order widened a Russian import ban and authorized sanctions against businesses that transact with Russia's military-industrial base.
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How Russia Sanctions Bills Could Reshape Asset Forfeiture
Several U.S. legislative proposals to seize billions in frozen Russian assets for post-war reconstruction of Ukraine would bypass traditional asset forfeiture guardrails, making it crucially important that practitioners remain vigilant and understand when to proactively engage with the government, say attorneys at Kasowitz.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Ex-OpenSea Staffer Case May Clarify When Info Is Property
In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.
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Despite HHS Opinion, Gift Card Giveaways Require Caution
Though the U.S. Department of Health and Human Services' Office of Inspector General recently determined that a healthcare consulting firm's gift card plans do not violate the Anti-Kickback Statute, the opinion does not suggest blanket approval for providing gift cards in exchange for referrals, say Ragini Acharya and Matthew Deutsch at Husch Blackwell.
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Takeaways From SEC's Aggressive Cybersecurity Moves
The U.S. Securities and Exchange Commission's intensifying policy on cybersecurity and securities violations in the wake of a data breach — like its enforcement action against SolarWinds and its security officer — has emboldened shareholders to file related suits, creating a heightened threat to public companies, say attorneys at Baker McKenzie.
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Considerations For Lawyer Witnesses After FTX Trial
Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.
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US Cos. Must Guard Against Russian Diversion Of Goods
Amid allegations that Russia is end-running trade sanctions through the diversion of otherwise innocuous, everyday goods, U.S. industry involved in the manufacture or distribution of electric products must step up its customer and partner due diligence to avoid unwittingly facilitating the weapons proliferation cycle, say attorneys at Arnold & Porter.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.