UPDATED June 16, 2020 | The COVID-19 pandemic has caused widespread economic hardship for businesses of all sizes, with stay-at-home orders just now starting to be lifted after months in effect. Among the bipartisan actions taken by the federal government to support the business community was a concerted effort to provide forgivable loans to small businesses.
Fidelity Investments' charitable giving arm made false promises to philanthropists to secure their donation of stock and then exhibited "gross incompetence" by "blindly dumping" the shares, a California federal magistrate judge heard Monday during opening arguments in a closely watched bench trial over who controls gifts made to donor-advised funds.
The Financial Crimes Enforcement Network has issued new guidance gleaned from data collected over the past six years to help financial institutions alert authorities to potential human trafficking, noting that COVID-19 has only exacerbated the risks.
An investor has let a New York federal court know he plans to appeal to the Second Circuit an August ruling that squashed his suit against numerous major banks for allegedly plotting to fix interbank exchange rates, including one tied to the Japanese yen.
An Eleventh Circuit panel vacated and remanded a decision by a Georgia judge who the panel said had denied due process to the chief financial officer of a wealth management company whose CEO defrauded investors out of more than $24 million.
An Illinois federal judge has narrowed the government's case against two former Merrill Lynch traders accused of deceptive trading in the precious metals futures market, throwing out the criminal spoofing charge facing one of the traders after ruling it can't be prosecuted as a scheme.
To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.
It falls to senior male attorneys to recognize the crisis female attorneys face as the pandemic amplifies an already unequal system and to offer their knowledge, experience and counsel to build a better future for women in law, says James Meadows at Culhane Meadows.
Even as BigLaw firms are recruiting women into their ranks in larger numbers, their presence in leadership and equity partnerships remains stubbornly low. Here’s a look at why this is happening — and what firms can do.
More female attorneys are landing highly sought-after U.S. Supreme Court clerkships, and the experience can turbocharge their careers.
At most U.S. law firms, equity partnerships are still overwhelmingly male, but women at some firms are starting to shake up that reality and smash the glass ceiling that has prevented them from advancing to the uppermost ranks. Here are this year’s Ceiling Smashers — the firms that are outpacing their peers as the legal industry works toward closing the gender gap in its top ranks.
In this video, four Black women share their thoughts about wearing natural hair as BigLaw attorneys. In order of appearance, the attorneys are: Rukayatu Tijani, founder of Firm for the Culture and a former BigLaw associate; Delilah Clay, legislative & regulatory advisor at Manatt Phelps & Phillips LLP; Rachel Boyce, associate at Cooley LLP; and Crystal Nwaneri, associate at Fenwick & West LLP.
The credit card loyalty program Black Card has called on a federal judge to let its $600 million licensing contract dispute with Visa go before a Wyoming jury next month as planned, citing Judge Rodney Gilstrap's decision to hold a jury trial in Texas in July.
A New York judge reversed course and decreased the number of documents a former Trump Organization attorney must produce to New York's attorney general in a probe into whether President Donald Trump inflated asset values.
Federal Reserve Chair Jerome Powell said Monday the central bank is still weighing the pros and cons of issuing a government-backed digital currency, noting he feels it is "more important for the United States to get it right than to be first."
The outside attorney tasked with defending the Federal Housing Finance Agency's constitutionality has warned the U.S. Supreme Court of the potential for "dramatic upheaval" if the justices invalidate the housing regulator's single-director independent structure, arguing that such a ruling could expose the Federal Reserve and other parts of the federal government to legal challenge.
Croatia has been hit with an investment treaty claim by a Hungarian bank that alleges it is owed some $35 million after the country forced the conversion of loans issued in Swiss francs to euros, the bank said on Monday.
President Donald Trump asked the U.S. Supreme Court again on Monday to halt enforcement of a grand jury subpoena for his tax and other records issued by the Manhattan district attorney's office, saying the records request risked public disclosure.
A debt collection letter from Scott & Associates PC seemed to be "riddled with inconsistencies," an Eleventh Circuit judge said Monday during oral arguments about whether the letter's recipient should be able to pursue a proposed class action against the firm.
A Harvard professor charged with lying about his ties to China and additional tax offenses will not be able to review secret grand jury minutes despite his claim that prosecutors' charged rhetoric about spying may have tainted the proceedings.
The Financial Crimes Enforcement Network on Monday levied a $60 million civil money penalty against the head of two bitcoin businesses for violations of Bank Secrecy Act regulations, stating that he facilitated illicit activity including drug transactions and child pornography by operating in the "darkest spaces of the internet."
Marcus Pleyer, the new president of the Financial Action Task Force, talks to Law360 about his priorities, including the risks posed by crypto-assets and the role of artificial intelligence in enforcement.
Firms are recruiting more women than previously to their ranks, but still have trouble retaining them at the same rate as men. Law360 asked three female attorneys who left BigLaw about how firms could better serve the women who work there. Here's what they have to say.
While law firms continue to tout efforts to close the gender gap in their ranks, parity is still a distant goal, our annual survey shows.
Law firms have long struggled to clear the barriers women face in the legal industry, particularly when it comes to accessing the top ranks. Law360's 2020 Glass Ceiling Report looks to shed light on the progress firms have made and where they aim to be.
Investors Bank forced bank branch employees to undergo security checks and perform opening procedures off-the-clock, according to a proposed wage-and-hour collective and class action filed Friday in New Jersey federal court.
The Paycheck Protection Program will undoubtedly give rise to False Claims Act enforcement, but the intangible nature of some contract benefits and differences in contract valuation between the circuits raise uncertainty about damages calculations, say Ellen London at Alto Litigation and Derek Adams at Potomac Law.
The pandemic's disproportionate impact on women presents law firms with a unique opportunity to devise innovative policies that will address the increasing home life demands female lawyers face and help retain them long after COVID-19 is over, say Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks.
At its recent virtual SEC Speaks conference, the U.S. Securities and Exchange Commission emphasized efforts to adapt enforcement to emerging risks amid the pandemic, and warned companies not to use COVID-19 to cover up past mistakes or newly discovered ones, say attorneys at Perkins Coie.
States and localities are employing creative methods to emerge as key players in regulatory enforcement traditionally dominated by the federal government, including False Claims Act investigations, unfair and deceptive acts and practices claims, and pharmaceutical sector regulation, say attorneys at Troutman Pepper.
James Murphy and Daniel Payne at Murphy & McGonigle analyze the first six months of CARES Act litigation and provide insight into how early cases are progressing and who seems to be winning.
The U.K. government's plans to use regulations and funding to accelerate the transition to a green economy after the COVID-19 pandemic promise significant opportunities for companies and investors focused on clean technologies, says Samantha Deacon at Goodwin.
The U.S. Department of Labor is unlikely to uncover liability in its recent investigation into Microsoft’s attempt to hire more Black managers and executives, because Title VII case law supports private employers' consideration of race among other factors to enhance diversity, says Conor Ahern at Sanford Heisler.
Read together, the U.S. Department of Justice's recently released cryptocurrency guidance and unsealed BitMEX indictment send a strong message that the government is expanding efforts to combat use of digital assets and blockchain technology for criminal purposes, say Benjamin Klein and Deborah Meshulam at DLA Piper.
Lawyers should use their unique skill sets, knowledge and spheres of influence to fight burdensome ID requirements and other voter suppression tactics that may influence the 2020 elections, and to participate in potential post-election litigation, say CK Hoffler and Allyce Bailey at the National Bar Association.
With green bonds, green loans and sustainability-linked debt instruments appearing with increasing prevalence in the bond and loan markets, opportunities within sustainable finance look set to continue their upward trajectory as environmental, social and governance factors increase in importance for both companies and investors, say attorneys at Vinson & Elkins.
Videoconferenced mediation offers several advantages and helps cases settle faster and more cordially, making it hard to imagine going back to logistically difficult in-person dispute resolution after COVID-19 restrictions are gone, says Sidney Kanazawa at ARC.
With key differences in state approaches to insurance data security regulation beginning to emerge, even small and bank-affiliated insurance entities that are granted partial exemptions in some jurisdictions will likely have to develop information security programs eventually, say attorneys at McIntyre & Lemon.
The Commodity Futures Trading Commission's recent report on climate change and financial markets makes it clear that while government regulation of carbon dioxide pollution may have negative consequences, letting greenhouse gas emissions go unaddressed could harm investors, asset managers and financial institutions, says Nicholas Fox at Goldberg Segalla.
Law firm clients can play a role in lowering mental distress in the legal profession by seeking lawyer wellness data from firms and factoring those responses into outside counsel hiring decisions, says Jonathan Prokup at Cigna.
A Seventh Circuit judge's recent order granting leave for three organizations to file amicus curiae briefs in Prairie Rivers Network v. Dynegy Midwest Generation is a reminder that relevant, nonduplicative amicus briefs can provide courts with helpful perspective, important facts and legal arguments, says Lawrence Ebner at Capital Appellate Advocacy.