An investment firm facing claims it concealed conflicts of interest when transferring investor money into a mutual fund told an Illinois federal court on Friday the Securities Litigation Uniform Standards Act bars a proposed class of investors from moving the case back to state court.
Insurance holding company Genworth Financial was hit with a putative class action in Delaware Chancery Court on Friday by holders of long-term care policies from one of its subsidiaries, who allege that the parent company is sabotaging their benefits by fraudulently transferring the subsidiary’s assets to its other units.
A former vice president for advertising at Rite Aid Inc. and one of the owners of an Atlanta-based marketing business have agreed to plead guilty to a $5.7 million kickback scheme, while the marketing business' co-owner told Law360 on Friday he will fight related charges.
Former Judge Jorge J. Perez has joined Dickinson Wright PLLC’s litigation group in Fort Lauderdale, Florida, where he is an oft-appointed receiver in insolvencies and an arbitrator, the firm announced Thursday.
A Pennsylvania federal jury on Thursday awarded fracking services company Stingray $1.65 million in damages for gas well owner EQT Production's breach of contract, although the jury found that both companies breached their arrangement and also awarded EQT $676,250 from Stingray.
The former business, tour and production manager of Nile Rogers sued the musician in New Jersey state court, alleging the recent Rock & Roll Hall of Fame inductee flouted their long-running partnership when his attorney fired the manager in March.
Charles Schwab Corp. and TD Ameritrade Inc. have accused Goldman Sachs Group Inc. of unfairly trying to terminate an agreement allowing the brokerages to share Goldman securities offerings with their own customers, according to a complaint filed in New York state court Thursday.
A Virgin Islands federal judge on Friday vacated an order compelling the owners of a shopping center to arbitrate their dispute with LG Electronics Panama over commercial air conditioning equipment, finding that more discovery is needed to determine whether the contract between the parties was a legally binding agreement.
A pair of industry groups representing technology companies have thrown their support behind the Federal Trade Commission's bid for a ruling in California federal court that Qualcomm is required to license its standard essential patents to rival chipmakers.
A Texas federal judge has declined to throw out a suit by a medical device developer accusing a California attorney of scamming it out of $1.76 million, ruling that the court did have jurisdiction over the case.
Noting months of costly disagreements and litigation among parties to a troubled $15 billion fleet of student loan trusts, a Delaware vice chancellor agreed Friday to appoint a special master to handle disputes involving the trusts' owners, investors, agents and administrators.
The Third Circuit has upheld a New Jersey lower court's ruling that favored two Atlantic City casinos in a "high roller’s" suit claiming the casinos unlawfully promised him coupons and free amenities to gamble at their establishments but failed to back up their offers, finding that the gambler misunderstood the offers and saying "the house always wins."
Engineering and construction giant Fluor Enterprises Inc. on Friday urged a New York bankruptcy court to order Westinghouse Electric to hand over roughly $247 million in allegedly unpaid fees stemming from a pair of nuclear reactor projects, months after the nuclear power company tried to dodge the claims.
A French unit of General Electric Co. urged the Eleventh Circuit on Thursday to revisit its decision finding that an Alabama steel plant owner doesn't have to arbitrate the companies' dispute over allegedly faulty motors, arguing that international arbitration law doesn't preclude non-signatories from enforcing an arbitration agreement.
An Arkansas federal judge has denied class certification in a lawsuit alleging Southwestern Energy Co. underpaid royalties to natural gas drilling rights holders, finding that the complex patchwork of wells, leases and integration orders involved does not make for a clearly definable group of plaintiffs.
An Illinois federal judge agreed that an Uber user leading a proposed Telephone Consumer Protection Act class action against the ride-hailing company consented to arbitrate any disputes when he signed up for the app, sending the suit to arbitration Thursday.
A New York federal judge dismissed almost all counterclaims against intellectual property boutique Goldberg Cohen LLP in the firm's long-running dispute with former client Luv N’ Care, criticizing both sides and calling the dispute a “family drama."
An Ohio federal judge ordered Cavitch Familo & Durkin Co. and three of its attorneys to pay more than $655,000 in sanctions Wednesday for its discovery abuses while representing Healthcare Essentials Inc., which was ordered to pay medical device maker KCI USA Inc. $645 million in trebled damages earlier this month for stealing and rebranding KCI’s product.
Carnival passengers who were stranded at sea in a 2013 incident known as the “Poop Cruise” asked the Eleventh Circuit on Thursday to reconsider an August decision to toss their suit, saying the ruling runs counter to U.S. Supreme Court precedent.
Samsung doesn’t need to pay $115 million for ending an agreement to license TV patents from patent pool manager MPEG LA, a New York state appeals court ruled Thursday, reversing a lower court’s decision that the electronics giant had breached its contract.
While in-house technology investments on the scale and complexity needed to compete with large firms remain cost prohibitive for small and midsize law firms, cloud-based services offer significant cost savings and productivity gains with little to no capital investment, says Holly Urban of Effortless Legal LLC.
When approaching M&A, investments and other transactions associated with artificial intelligence, we must take into consideration the nature of the technology today, the anticipated technological developments and the evolving legal landscape, say Lee Tiedrich and Daniel Gurman of Covington & Burling LLP.
A deep dive into data on deal terms in midstream oil and gas acquisition agreements reveals significant insights on “what’s market” and what's not in such deals. As compared to a broad cross-section of agreements across industries, the midstream M&A acquisition agreements studied generally allocated more of the risks — especially unknown risks — to buyers, says Greg Krafka of Winstead PC.
With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.
The Private Target Mergers & Acquisitions Deal Points Studies prepared by the American Bar Association’s Business Law Section have been a key resource for M&A attorneys for over a decade. In this two-part article, Greg Krafka of Winstead PC examines data from the most recent study and other sources to systematically identify “what’s market” concerning deal terms in midstream oil and gas acquisition agreements.
Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.
In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.
Pennsylvania's amended Contractor and Subcontractor Payment Act, which will apply to construction contracts entered into on or after Oct. 10, will provide downstream entities with robust protections to better ensure prompt payment for completed work, says Kenneth Cushing of Cozen O'Connor.
IBM recently partnered with the U.S. Open to offer tennis fans a digital experience. This type of deal offers numerous benefits, but companies seeking to leverage their innovative technology in exchange for sponsorship packages should be aware of certain legal issues, say Leon Medzhibovsky and Airina Rodrigues of DLA Piper.
The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.