A California bankruptcy judge on Tuesday approved PG&E Corp.'s plan to pay up to $350 million in bonuses to 10,000 employees over objections from fire victims, saying during a hearing that cutting workers' compensation due to wildfire concerns seems to be the "wrong way to deal with the problem."
A Utah tribe has urged a federal court to rip up a recent U.S. Department of Housing and Urban Development letter updating certain requirements for federally insured mortgages, alleging HUD is illegally clamping down on tribes that help provide down payments for homes.
Puerto Rico's financial oversight board Tuesday asked the U.S. Supreme Court to overturn a First Circuit finding that its members were unconstitutionally appointed, saying the decision ignored two centuries of law on how U.S. territories are run.
An Illinois federal judge on Tuesday permanently tossed federal prosecutors' case against an Illinois software executive who they claimed made a program he knew would help a trader to spoof the commodities market, after a jury deadlocked on those charges at trial.
The U.S. Supreme Court’s unusual decision Tuesday to drop an appeal after hearing oral arguments caught many court watchers off guard, yet a procedural issue unique to Emulex Corp.'s dispute involving the standard for bringing certain tender offer claims is the likely culprit.
Until the U.S. Supreme Court responds to an impending review bid, the Second Circuit will not issue a mandate on its ruling that the trustee for Bernie Madoff’s fraudulent investment firm can claw back billions in Ponzi scheme proceeds from foreign parties.
Big companies and other organizations across a variety of industries are boosting their ethics and compliance efforts, particularly in internal investigations, according to a new report from KPMG LLP.
Applying the patent office's new eligibility guidance, the Patent Trial and Appeal Board found four Mirror Imaging patents on document storage methods are invalid because they cover only an abstract idea, according to documents made public Monday.
A former NFL lineman shaved a year and a half off a potential four-year prison stay with a sincere expression of remorse Tuesday for embezzling $2.5 million in payments on home loans that were sold as government-backed securities, receiving a 32-month sentence instead.
A Manhattan federal judge targeted November for Abraaj Group managing partner Mustafa Abdel-Wadood to stand trial on fraud charges, after hearing Tuesday it could take two years for his ex-boss, CEO Arif Naqvi, to be extradited from England.
Centerbridge Partners is reportedly discussing a deal to snap up Advisor Group, Pampa Energia is mulling selling off its majority stake in Edenor, and poultry producer Leong Hup wants to raise as much as $291 million in a May initial public offering.
City National Corp. can’t get out of paying $7.4 million to the U.S. Department of Labor to atone for collecting millions more than it should have in fees for 401(k) plan recordkeeping, the Ninth Circuit held Tuesday.
The Consumer Financial Protection Bureau said Tuesday it will start providing more details about the nature of and basis for agency investigations when it issues civil investigative demands, tightening up a key information-gathering tool that industry has often complained is used for fishing expeditions.
The federal government has accused a Mexican farming equipment company of forging documents and hiding its common ownership with a U.S. exporter to procure loans, telling a D.C. federal court that it is entitled to more than $4 million in treble damages.
GE Capital Corp. subsidiary WMC Mortgage LLC filed for bankruptcy Tuesday, saying it needs to resolve remaining legal liabilities after paying more than $1.5 billion to settle claims that it sold toxic subprime loans in the years leading up to the housing crisis.
The U.S. Supreme Court on Tuesday punted a decision about the appropriate standard for alleging false statements and omissions related to tender offers and whether private plaintiffs can bring such lawsuits at all.
The Seventh Circuit affirmed the conviction Monday of a major Chicago real estate developer who was found guilty of misleading the city and two banks about his company's financial health in order to keep money flowing in and stave off foreclosure on some of his properties.
A Tenth Circuit panel won't revisit its finding that Great-West didn't act as a fiduciary in an Employee Retirement Income Security Act class action over how the company distributed investment profits to 401(k) plan participants, although the judges did tweak their ruling.
The unsecured creditors' committee in Puerto Rico's financial restructuring proceedings is facing considerable pushback in its bid to potentially sue over the past issuance of billions in commonwealth debt, seeing recent challenges from the island government, federal control board, and commonwealth bondholders.
The National Rifle Association has asked for a New York federal court's help subpoenaing material from Lloyd's of London underwriters for the organization's lawsuit alleging New York authorities have tried to snuff it out, saying the state's financial services regulator is interfering with discovery by resisting service of those subpoenas.
In a recent Law360 guest article, the author applauded the disappearance of jury trials as an inefficient, costly mechanism, but in doing so he overlooked the greater value of jury trials for our justice system, says Stephen Susman, executive director of the Civil Jury Project at NYU School of Law.
During the past 15 years, three widely read articles bolstered by starstruck media have promulgated the incorrect perception — sorely in need of revision — that the U.S. Supreme Court bar is limited to a handful of elite lawyers, says Lawrence Ebner of Capital Appellate Advocacy.
The Financial Crimes Enforcement Network recently assessed its first civil penalty against a peer-to-peer exchanger of convertible virtual currency, indicating that virtual currency exchanges of any size that fail to comply with the Bank Secrecy Act do so at their own peril, say Wade Thomson and E.K. McWilliams of Jenner & Block.
Given last year's U.S. Supreme Court ruling that the U.S. Securities and Exchange Commission administrative law judge who tried Raymond Lucia's case had not been constitutionally appointed, Lucia should not be facing an SEC ALJ again on remand, says Joel Nolette of Mintz.
As the cannabis industry continues to grow, it will need more legal professionals to help navigate the turbulent business landscape, but lawyers should understand the industry's unique limitations and characteristics before diving in, says Sabas Carrillo of consulting firm Adnant.
Though the Consumer Financial Protection Bureau's proposal to rescind portions of a 2017 payday lending rule covers much ground, three aspects focusing on unfair, deceptive, or abusive acts or practices have potential application outside of payday lending, say Jason Tompkins and Jonathan Hoffmann of Balch & Bingham.
The Delaware Court of Chancery’s recent decisions in Schnatter, Tempur-Sealy and CHC Investments further delineate the metes and bounds of a stockholder's right to obtain a company's books and records, say attorneys with Winston & Strawn.
U.S. Supreme Court oral arguments Monday in Emulex v. Varjabedian — a case that could alter the landscape of tender offer litigation under Section 14(e) of the Securities Exchange Act — confirmed the potentially significant nature of the forthcoming decision, as well as the justices’ sharp divide on the issues, say attorneys with Ropes & Gray.
A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.
Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.