White Collar

  • May 14, 2021

    DOJ, Flynn Associate Spar Over Renewed Bid For A New Trial

    The Fourth Circuit's recent decision reinstating the unregistered foreign lobbying conviction of a former business partner of Michael Flynn and remanding the case for further proceeding does not warrant an inquiry into whether a new trial is necessary, prosecutors told a Virginia federal judge.

  • May 14, 2021

    Biden's Cybersecurity Order Likely To Reach Beyond Gov't

    The Biden administration has taken a major step toward curtailing a growing scourge of cyberattacks with a new executive order that not only imposes heightened cybersecurity requirements on the federal government and its contractors but also sets a strong example that's likely to rub off on private companies.

  • May 14, 2021

    5th Circ. Tosses Stanford Ponzi Investors' Claims Against SEI

    Investors in Robert Allen Stanford's massive Ponzi scheme lost their bid to revive claims against investment processor SEI Investments Co. on Friday when the Fifth Circuit said it hadn't seen evidence that SEI had any control over the multibillion-dollar fraud.

  • May 14, 2021

    Racer Wants Monitor Nixed After High Court Win Against FTC

    Convicted fraudster and former race car driver Scott Tucker told a Nevada federal court there's no more need for a monitor to oversee his assets after the U.S. Supreme Court reversed a $1.3 billion restitution award over a payday lending scheme because the Federal Trade Commission lacked authority to seek the penalty.

  • May 14, 2021

    Manufacturer Admin Gets 2.5 Years For $1M Credit Card Fraud

    An Illinois electrical product manufacturer's former travel and expense administrator was sentenced to 30 months in prison in Illinois federal court on Friday for conducting a nearly $1 million fraud scheme through which she charged personal expenses to former employees' credit cards instead of closing their accounts. 

  • May 14, 2021

    SEC Commish Says Data Key To GameStop, Other Top Issues

    Data analysis will be the key to sorting out the most pressing issues on the U.S. Securities and Exchange Commission's regulatory agenda, including the recent market volatility surrounding the stock of video game retailer GameStop, Commissioner Caroline Crenshaw said Friday.

  • May 14, 2021

    Swiss Insurance Group Will Pay $77M For Aiding Tax Evasion

    A Swiss insurance company and three affiliates will pay the U.S. government about $77.3 million for conspiring to help U.S. taxpayers hide $1.45 billion from the Internal Revenue Service, the U.S. Department of Justice said Friday.

  • May 14, 2021

    Mass. Condo Developer Cops To Hiding $1.2M From IRS

    A Boston-area real estate developer admitted in Massachusetts federal court Thursday to bilking the government out of $482,000 by failing to list more than $1.2 million in personal construction payments from condominium residents on his tax returns.

  • May 14, 2021

    Pardoned NJ Atty On Hook For Ex-Firm's Debt, Creditor Says

    Attorney George Gilmore, who was pardoned after being convicted of federal crimes, and his onetime partner should be held individually responsible for their former firm's unpaid debt since they personally guaranteed a $275,000 note signed by the practice, a lender's counsel told a New Jersey state court on Friday.

  • May 14, 2021

    2nd Circ. Upholds Saks' Win In Shoe Seller's Race Bias Case

    The Second Circuit on Friday backed Saks Fifth Avenue's defeat of a former shoe salesperson's race bias suit, saying the ex-employee hadn't shown the luxury retailer's failure to reinstate him after a criminal investigation was because he is Black.

  • May 14, 2021

    Donziger Expects To Be Convicted Of Criminal Contempt

    Chevron foe Steven Donziger said Friday after observing the prosecution case play out in his criminal contempt bench trial that he expects to be convicted when the trial concludes.

  • May 14, 2021

    Hedge Funder Gets 4 Years After Stealing $2M From Investors

    A Florida federal judge sentenced a hedge fund manager to more than four years in prison after hearing from victims, including a former close friend, who said he had shown little remorse for bilking them out of nearly $2 million and lying to them about the fund's success.

  • May 14, 2021

    Ex-NYPD Cop Gets Bail In Corruption Case Over Feds' Protest

    A New York federal judge ruled Friday that a retired NYPD cop accused of running drugs, selling victim information and spearheading a car-towing kickback scheme can be released from jail on a $1.5 million bond while he awaits trial, to the chagrin of prosecutors who vehemently argued that the man be held.

  • May 14, 2021

    Frisco Atty To Serve 18 Months For Defrauding Client

    A Frisco, Texas, attorney was sentenced to 18 months in federal prison on Thursday after pleading guilty to committing wire fraud against his clients in January.

  • May 14, 2021

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen Malaysia's state investment fund 1MDB sue a unit of Deutsche Bank as it tries to recoup embezzled funds, Simmons & Simmons LLP sued by a mortgage portfolio company and insurer RSA facing a group claim led by a boutique investment firm. Here, Law360 looks at those and other new cases.

  • May 14, 2021

    Ex-Mayor Convicted In Boston's 1st Big Trial Of Pandemic

    A Boston federal jury on Friday convicted the former mayor of Fall River, Massachusetts, on most counts in a case alleging he stole from investors and separately extorted cannabis businesses, handing prosecutors a win in the district's first high-profile criminal trial since the COVID-19 pandemic began.

  • May 13, 2021

    Donziger Might Have Avoided Charges By Appeals, Atty Says

    A Gibson Dunn equity partner told a Manhattan federal judge Thursday in Steven Donziger's contempt trial that the Chevron foe partly brought the charges on himself by failing to appeal key court orders.

  • May 13, 2021

    Gaetz Associate Will Plead Guilty In Sex Trafficking Case

    A Florida politician who has reportedly been cooperating with authorities investigating U.S. Rep. Matt Gaetz for possible sex trafficking is set to plead guilty next week in his own case, according to a Thursday court notice.

  • May 13, 2021

    State Street To Pay $115M After Fed's $290M Overbilling Probe

    State Street Corp. has admitted it ripped customers off by $290 million with hidden bank fees, and it has agreed to pay a $115 million criminal penalty to resolve a long-running investigation into those practices, the U.S. Department of Justice announced Thursday.

  • May 13, 2021

    Insurer Freed Of $2M Jewelry Loss To Mobster's Fake J.Lo Vid

    A New York appeals court held on Thursday that Lloyd's of London underwriters do not have to cover a jeweler's loss of $2 million in a plot orchestrated from prison by a Gambino crime family figure posing as a Sony Pictures representative renting the jewelry for a Jennifer Lopez video shoot.

  • May 13, 2021

    Senate Panel Splits On Contentious DOJ Civil Rights Nominee

    The Senate Judiciary Committee split evenly Thursday in advancing President Joe Biden's pick to lead the U.S. Department of Justice's Civil Rights Division after Sen. Ted Cruz attacked her purported views, such as comparing police to the KKK.

  • May 13, 2021

    Weed Fraudsters' Acquittal Bid Smoke and Mirrors, Feds Say

    Federal prosecutors urged a New York judge on Wednesday not to acquit or retry two men convicted of defrauding U.S. banks on behalf of a California marijuana-delivery service, arguing that the government provided more than enough evidence to show the scheme intentionally wronged lending institutions.

  • May 13, 2021

    Indivior Wants Ex-Worker's Retaliation Claims Thrown Out

    Pharmaceutical manufacturer Indivior said that a former employee's False Claims Act retaliation claims should be axed, calling her case "the latest in a long line of attempts … to cash in on her departure."

  • May 13, 2021

    2 More Boston Cops To Plead Guilty In No-Work OT Case

    Two more Boston police officers accused of embezzling city funds through no-work overtime shifts at the department's evidence warehouse agreed to plead guilty in the federal case, according to Thursday court filings.

  • May 13, 2021

    Ex-CEO Must Face Charges In NJ Bank Fraud Scheme

    A New Jersey federal judge has refused to toss criminal charges that the onetime head of the now-defunct First State Bank took part in creating sham documents as part of an alleged scheme to deceive regulators and the bank about its financial health, finding that the records fell under a federal fraud statute.

Expert Analysis

  • CFTC Enforcement Predictions After Biden's First 100 Days

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    Attorneys at Sullivan & Cromwell highlight key enforcement topics the Commodity Futures Trading Commission may prioritize going forward and areas potentially ripe for policy change as the Biden administration passes its 100-day milestone.

  • 5 Steps For Law Firms Rethinking Flexible Work Post-COVID

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    A flexible work environment will be key to recruiting and retention efforts post-pandemic, so law firms must develop comprehensive policies that solidify expectations and boundaries on accommodations such as flextime, remote work and reduced hours, says Manar Morales at the Diversity & Flexibility Alliance.

  • Assessing SPAC Risk After SEC Pumps Brakes On Market

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    The current lull in special purpose acquisition company activity following the U.S. Securities and Exchange Commission's recent risk advisories offers SPAC parties an opportunity to ramp up due diligence on targets and to evaluate prior accounting of warrants to ensure regulatory compliance, say Julie Copeland and Ellen Graper at StoneTurn.

  • Judge's Rebuke Of Mass. AG Has Lessons For All Attorneys

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    A Massachusetts federal judge’s recent rebuke of the state Attorney General’s Office for refusing to respond to discovery requests in Alliance for Automotive Innovation v. Healey highlights six important considerations for attorneys who want to avoid the dreaded benchslap, say Alison Eggers and Dallin Wilson at Seyfarth.  

  • Font Considerations To Give Your Legal Briefs An Edge

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    Following the D.C. Circuit’s recent notice discouraging use of the font Garamond in legal briefs, Jason Steed at Kilpatrick looks at typeface requirements and preferences in appellate courts across the country, and how practitioners can score a few extra brief-writing points with typography.

  • Make Profitability Management Part Of Your Law Firm Culture

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    As the legal industry continues to change in the post-pandemic world, law firms should adapt to client demands by constantly measuring and managing the profitability of their services, says Joseph Altonji at LawVision.

  • 4 Trends In Discoverability Of Litigation Funding Documents

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    Recent rulings shed light on how courts and international arbitration tribunals decide if litigation funding materials are discoverable and reaffirm best practices that attorneys should follow when communicating with funders, say Justin Maleson at Longford Capital and Michele Slachetka and Christian Plummer at Jenner & Block.

  • High Court's AMG Ruling Could Hinder FDA Enforcement

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    The U.S. Supreme Court's decision in AMG Capital v. Federal Trade Commission, limiting the agency's ability to seek equitable monetary relief under the FTC Act, will likely also restrain the U.S. Food and Drug Administration's authority under the Federal Food, Drug, and Cosmetic Act, due to similarities between the laws, say Joshua Oyster and Jenna McCarthy at Ropes & Gray.

  • Expect Increasing Scrutiny Of Wage-Fixing, No-Poach Deals

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    Employers can expect more actions against wage-fixing or no-poach agreements as the U.S. Department of Justice's Antitrust Division cracks down on labor market collusion, so companies should consider tailoring these agreements on their scope, duration and definition of nonsolicitation, say attorneys at Duane Morris.

  • 7 Lessons For Young Lawyers Starting Their Careers

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    This year's law graduates and other young attorneys must recognize that the practice of law tests and rewards different skills and characteristics than law school, and that what makes a lawyer valuable changes over time, says Vernon Winters, retired partner at Sidley.

  • How Justices' AMG Ruling Affects Privacy And Cybersecurity

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    The U.S. Supreme Court's recent ruling in AMG Capital Management v. Federal Trade Commission removes the regulator's ability to seek monetary damages that discouraged privacy and cybersecurity breaches, and as a result, companies should reassess their exposure in these areas, say attorneys at Orrick.

  • Archegos Fallout Is A Wake-Up Call For Banks

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    Billions in bank losses related to the recent collapse of Archegos Capital Management point to bank risk management and compliance deficiencies, and highlight several steps brokerages should take to avoid exposure next time a family office customer blows up, say consultants at StoneTurn.

  • New Money Laundering Regs Will Aid Art Market Transparency

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    The privacy and anonymity of art and antiquities transactions can enable criminal activity to go undetected — so recent updates to the Anti-Money Laundering Act covering art market participants are an important step forward, says Andrea Perez at Carrington Coleman.

  • High Court Blow To FTC Restitution Could Be Temporary

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    The U.S. Supreme Court's recent decision to roll back the Federal Trade Commission's power to seek monetary relief in AMG Capital will likely be met with legislative action to restore the agency's authority, or efforts to obtain restitution in other ways, say Bruce Hoffman and Nico Banks at Cleary.

  • How Gov't FCPA Hiring Practices Theory May Pan Out In Court

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    In recent settlements with banks, U.S. authorities have taken the position that providing a job or even an unpaid internship to relatives or friends of foreign officials is a violation of the Foreign Corrupt Practices Act, but it is worth assessing how this theory would fare in individual prosecutions, say attorneys at Debevoise.

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