New York

  • September 25, 2020

    BNY Mellon Accused Of Aiding Ex-BigLaw Atty In $4B Fraud

    Bank of New York Mellon was accused of playing a "central role" in the $4 billion OneCoin cryptocurrency scam by investors in a proposed class action amended on Thursday.

  • September 25, 2020

    2nd Circ. Won't Undo Social Media Defamation Ruling

    The full Second Circuit is refusing to undo a ruling that said MSNBC host Joy Reid could be sued for defamation over social media posts accusing a woman of racism, despite warnings from major news outlets that the decision will chill free speech.

  • September 25, 2020

    2nd Circ. OKs Toss Of Suit Over German SW Africa Atrocities

    The Second Circuit has ruled that a lawsuit seeking damages from Germany for atrocities and property seizures committed by its colonial authorities against Indigenous groups from southwestern Africa more than a century ago can't proceed in New York under foreign sovereign immunity law.

  • September 25, 2020

    Investor Sues $2.6B Allergy Drug Maker Over Nestle Deal

    An investor in a $2.6 billion biopharmaceutical company that's making the first federally approved peanut allergy treatment for children alleged that the company left out key financial information in disclosures surrounding its planned sale to Nestle, contending in a New York federal court complaint that the omission makes it impossible for shareholders to properly weigh the deal.

  • September 25, 2020

    Fla. Investment Exec Gets 7 Years For $18M Pre-IPO Fraud

    A tearful Florida fund manager was sentenced to seven years in prison Friday for perpetrating an $18 million fraud involving sham investments in technology companies prior to their initial public offerings, avoiding a request by New York federal prosecutors for at least 14 years behind bars.

  • September 25, 2020

    Dime Community Investor Sues To Block $489M Bank Merger

    A Dime Community Bancshares Inc. investor has filed a proposed class action in Delaware federal court seeking to block the bank's planned $489 million sale to Bridge Bancorp Inc., claiming not enough information has been provided for shareholders to make an informed decision on the transaction.

  • September 25, 2020

    Mishcon Sheds Case Alleging Ex-Attys 'Abandoned' IP Suit

    An Illinois federal judge has tossed a Chicago motor company's case accusing international law firm Mishcon de Reya LLP of abandoning its trade secrets infringement suit against Nidec Motor Corp., finding the retainer agreement requires the legal malpractice case to be heard in New York.

  • September 25, 2020

    Qudian Investors Fight Bid To Nix Securities Suit Over IPO

    A proposed class of investors in online microlender Qudian Inc. urged a New York federal judge Thursday to reject bids to dismiss a securities suit alleging the Chinese company hid its unfair debt collection practices, business plan and data vulnerabilities, causing its stock to tank after its initial public offering.

  • September 25, 2020

    Ex-Pierce Bainbridge Atty Wants Firm DQ'd In Defamation Suit

    Wigdor LLP should be disqualified from representing a paralegal who filed defamation claims against a former Pierce Bainbridge attorney who allegedly sexually assaulted her, as the lawyer previously shared confidential information with the firm, the attorney has told a New York federal court.

  • September 25, 2020

    2nd Circ. Probes Claim Trump's Tax Subpoena Is Too Broad

    Judges on a Second Circuit panel questioned arguments by President Donald Trump's attorney Friday that a Manhattan grand jury subpoena for his tax records was overbroad, though one judge suggested the possibility of narrowing the subpoena's scope.

  • September 25, 2020

    LNG Shipper Sued After Exec Tied To Petrobras Bribery Probe

    An investor in liquefied natural gas shipping company Golar LNG has filed a putative class action claiming its artificially inflated stock prices fell following reports that the CEO of a company joint venture was named in the Brazilian anti-corruption sweep Operation Car Wash.

  • September 25, 2020

    TIGTA Accused Of Withholding Info On MLB Steroid Probe

    The Treasury Inspector General for Tax Administration improperly withheld records in response to a news organization's request for information on an IRS agent who led steroid investigations into Major League Baseball, the organization told a New York federal court.

  • September 25, 2020

    CFTC, States Say Metals.com Swindled Seniors Out Of $185M

    Two precious metals dealers targeted senior citizens in an alleged $185 million fraud scheme perpetrated in part through false claims that company principals were friends with an unnamed conservative television host, according to a joint civil enforcement action filed by the U.S. Commodity Futures Trading Commission and 30 state regulators on Friday.

  • September 24, 2020

    Feds Ask Justices To Ignore Convicted HSBC Banker's Appeal

    Federal prosecutors have urged the U.S. Supreme Court to reject former HSBC executive Mark Johnson's bid for review of his fraud conviction over a $3.5 billion trade, saying taking another party's "right to control" its own assets is a settled form of wire fraud.

  • September 24, 2020

    Financial Services Co. Head Charged In $4.4M Fraud Scheme

    The head of a financial services firm was arrested Thursday and charged in Manhattan federal court with involvement in a securities fraud scheme that scammed at least 18 investors out of about $4.4 million.

  • September 24, 2020

    Goldman Gets Industry Support For High Court Cert. Fight

    Goldman Sachs got support from Wall Street groups, former U.S. Securities and Exchange Commission officials, law professors and others on Thursday in its challenge before the U.S. Supreme Court of class certification in a hotly watched securities class action.

  • September 24, 2020

    Hearst Accused Of Enabling Exec Who Demeaned Workers

    An executive at Hearst Communications mocked and demeaned older and female employees with "little more than a slap on the wrist" from his managers, according to a suit filed in New York state court by a former director who says the conditions led her to quit.

  • September 24, 2020

    Law Grads Fear Tech Troubles Ahead Of Remote Bar Exam

    Less than two weeks before thousands of attorney hopefuls in over a dozen states are scheduled to take the bar exam remotely, technological problems ranging from trouble clicking multiple-choice options to suspicious money transfers after downloading the exam program are cropping up, suggesting a remote exam is easier said than done.

  • September 24, 2020

    Judge Transfers Ex-Prosecutor's Netflix Defamation Suit

    A Florida federal judge ruled Thursday that a former Manhattan district attorney's defamation suit against Netflix over its docudrama on the Central Park jogger rape case belongs in New York, where most of the potential witnesses are located.

  • September 24, 2020

    Panama Papers Accountant Sentenced To 39 Months

    A Manhattan federal judge Thursday sentenced a Massachusetts accountant brought down by the Panama Papers investigation to 39 months in prison for tax evasion, wire fraud, money laundering and other charges for helping law firm Mossack Fonseca's clients avoid taxes.

  • September 24, 2020

    Coronavirus Litigation: The Week In Review

    Disney faces claims that it wrongfully barred a maskless autistic boy from one of its stores, a racing group says Coca-Cola used the pandemic to ditch a $34 million sponsorship agreement, and an ex-UPS worker says she was wrongfully fired for taking time off work to quarantine.

  • September 24, 2020

    AGs Defend Ky. Over Amazon Seller Price-Gouging Probes

    Over 30 attorneys general urged the Sixth Circuit on Wednesday to unblock Kentucky's investigations into Amazon merchants, arguing state price-gouging rules are a vital consumer protection tool amid the COVID-19 pandemic that do not unconstitutionally interfere with a retailer's right to set prices across state lines.

  • September 24, 2020

    'LOVE' Artist's Estate Says Deal 'Completely Blindsided' It

    The estate of the late sculptor Robert Indiana, best known for his "LOVE" piece, told a New York federal court on Wednesday that it was "completely blindsided" by a deal between the estate's sole beneficiary and an art foundation suing the estate over Indiana's work.

  • September 24, 2020

    2nd Circ. Says Madoff Trustee Entitled To $41M Ponzi Profits

    The Second Circuit Court of Appeals affirmed a lower court decision Thursday that ordered clients of the Bernie Madoff Ponzi scheme to return $41 million in fraudulent profits to the trustee overseeing the funds' bankruptcy estate, saying they were not entitled to keep anything more than their principal investment in the fund.

  • September 24, 2020

    Media Reports On Trump Can't Back Subpoena, 2nd Circ. Told

    Public reports accusing President Donald Trump and his businesses of wrongdoing did not justify the scope of the grand jury subpoena by the Manhattan district attorney for tax returns and financial records, Trump's attorneys told a federal appeals court Thursday.

Expert Analysis

  • A Likely Tipping Point For Nonlawyer Ownership Of Law Firms

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    The Arizona Supreme Court's recent decision to eliminate prohibitions on nonlawyer ownership of law firms may show that the organized bar's long-standing rhetoric that such rules are essential to protecting the legal profession's core values is overblown, say Anthony Sebok at Cardozo School of Law and Bradley Wendel at Cornell Law School.

  • Practical Lessons From 2nd Circ. Lehman Bankruptcy Ruling

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    The Second Circuit's recent decision in the Lehman Brothers bankruptcy litigation provides guidance for market participants who structure or invest in complex finance transactions involving derivatives, as well as a useful perspective for creditors seeking to protect their rights in a bankruptcy proceeding, say Thomas Mitchell at Orrick and attorney Steven Fink.

  • Foreign Securities Class Actions 10 Years After Morrison

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    The U.S. Supreme Court’s landmark 2010 decision in Morrison v. National Australia Bank has had a sweeping impact on the application of the federal securities laws to transnational securities fraud, but it has not brought the predictability and consistency it promised and has exposed foreign issuers to greater U.S. class action liability, say attorneys at Cleary.

  • Breaking Down The Top 3 COVID-19 Workplace Claims

    Excerpt from Practical Guidance
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    Attorneys at Fisher Phillips identify litigation trends in the three most common types of COVID-19 claims filed against employers to date, and discuss risk-reduction and defense strategies.

  • 2 NY Contract Cases Highlight Limits Of Impossibility Defense

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    As parties consider invoking the common law doctrine of impossibility to defend contract nonperformance during the pandemic, two recent New York federal and state court decisions — Lantino v. Clay and Backal Hospitality v. 627 West — illustrate the challenges of establishing such a defense, say Muhammad Faridi and Timothy Smith at Patterson Belknap.

  • A Road Map For Drafting Persuasive Discovery Motions

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    Best practices that can help litigators write convincing discovery motions include thinking about the audience, addressing a few key questions, and leaving out boilerplate from supporting briefs, says Tom Connally at Hogan Lovells.

  • How Congress Can Depoliticize The Supreme Court

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    Congress has multiple means to take the politics out of federal judicial nominations and restore the independence of the U.S. Supreme Court — three of which can be implemented without a constitutional amendment, says Franklin Amanat at DiCello Levitt.

  • Balancing Newly Divergent State, USPTO Ethics Rules

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    In light of the U.S. Patent and Trademark Office's stringent ethics rules and failure to adopt a choice-of-law rule, intellectual property attorneys practicing in states that recently adopted more progressive ethics rules may have to modify their practice to avoid discipline, say attorneys Emil Ali and Michael McCabe.

  • And Now A Word From The Panel: Justifying An MDL

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    Recent oral arguments before the Judicial Panel on Multidistrict Litigation in the Ahern Rentals trade secret case demonstrate that justifying centralization of related actions into an MDL hinges on showing similarities between the actions — and especially on whether they will lead to common discovery, says Alan Rothman at Sidley.

  • Competing Libor-Transition Proposals Create More Problems

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    While the U.S., U.K. and EU have proposed legislation in anticipation of the approaching Libor end date, the multiplicity of their approaches gives rise to uncertainty for market participants rather than eliminating it, say Anne Beaumont at Friedman Kaplan and Janine Alexander and Audrey Favreau at Collyer Bristow.

  • Opinion

    The Case For A Nonpolitical Federal Judiciary

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    For the last 20 years, at the insistence of both parties, U.S. Supreme Court nominations have been fierce ideological battles — which is bad for the country and bad for the public's perception of the legitimacy of the court, say Judge Eric Moyé, Judge Craig Smith and Winston & Strawn partner Tom Melsheimer.

  • Series

    AGs In A Pandemic: Nessel Talks Michigan Drop Shippers

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    Michigan Attorney General Dana Nessel discusses her office's efforts to curb deceptive business practices by drop shippers — middlemen who entice purchasers using false or misleading information — and to educate consumers about the pitfalls of online shopping during the pandemic.

  • The Keys To A Better Privilege Logging Paradigm

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    Current privilege logging practices to identify what information is being withheld from discovery often lead to costly disputes, so practitioners should adopt a system based on trust and good faith, similar to the presumptions embedded in the business judgment rule for corporate directors and officers, say Kevin Brady at Volkswagen and Charles Ragan and Ted Hiser at Redgrave.

  • Class Arbitration May Meet Its Demise At High Court This Term

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    While the Second Circuit’s 2019 opinion in Jock v. Sterling Jewelers and the Ninth Circuit’s recent decision in Shivkov v. Artex exemplify how two interrelated inquiries have rescued class arbitration, the U.S. Supreme Court will likely address the issues this term and extinguish the practice, say attorneys at McGuireWoods.

  • NY Lenders May Face Barriers In Real Estate Dispositions

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    Three recent New York County Supreme Court decisions demonstrate that although the governor's executive orders suspending commercial evictions and foreclosures do not expressly bar collateral dispositions, lenders attempting to sell defaulted real estate should expect judicial limitations during the pandemic, say attorneys at Patterson Belknap.

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