New York
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May 17, 2019
Trump’s Border Wall Faces Skeptical Calif. Judge
A California federal judge appeared open Friday to blocking the Trump administration from repurposing defense funds to build a wall along the southern border, saying he doesn't know if it is right to let the government build the wall before legal challenges to it are resolved.
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May 17, 2019
Pierce Bainbridge Ends Partnership With Funder Pravati
Litigation boutique Pierce Bainbridge has concluded its partnership with litigation funder Pravati Capital, whose investment helped fuel the young firm's rapid national expansion over the past two years, the parties confirmed Friday.
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May 17, 2019
Platinum Exec Says Co-Founder Misled Investors
A former Platinum Partners executive on Friday told a New York federal jury that the firm’s co-founder and others misled potential investors about the financial health of Platinum’s main fund while the hedge fund manager was struggling to pay back tens of millions of dollars to its limited partners.
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May 17, 2019
CFPB Targets NY Debt Collection Firm Over Mass Suit Filings
A New York debt collection law firm used high-volume litigation tactics such as automation to collect over 99,000 debts without proper attorney oversight, according to a complaint filed in New York federal court by the Consumer Financial Protection Bureau on Friday.
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May 17, 2019
Real Estate Rumors: Lennar, Xinyuan, IMC Equity
Homebuilder Lennar is reportedly under contract to buy an 89-acre site in Florida, developer Xinyuan is said to have landed $30 million in financing for a Queens mixed-use project, and IMC Equity has reportedly purchased a Miami development site for $13.5 million.
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May 17, 2019
Mobile App Developer Tries To Kick 'Click Injection' Fraud Suit
A Chinese mobile app developer asked a New York federal court on Thursday to excuse it from a proposed class action accusing the company of lying to investors about faking its download numbers to fraudulently increase advertising revenue, arguing that the shareholders' claims are too vague.
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May 17, 2019
Citi, JPM Get Nod For $182.5M Euribor Settlement Payout
A Manhattan federal judge on Friday approved a $182.5 million settlement between JPMorgan Chase & Co., Citigroup and investors who accuse the two megabanks of rigging a key euro rate, signing off also on a roughly $36 million haul for plaintiffs' firms that brought the antitrust class action.
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May 17, 2019
GNC Says Unauthorized Amazon Reseller Tarnishes Its Name
GNC said an unauthorized, Brooklyn, New York-based Amazon store is damaging the company's reputation by selling knockoffs of its products or second-hand goods without GNC's customer service or quality controls, according to a lawsuit filed Friday in Pennsylvania federal court.
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May 17, 2019
8 Firms Steer 5 IPOs Topping $1B Led By Diamondback Unit
Eight firms will lead five initial public offerings that could raise more than $1.1 billion in combined proceeds during the week of May 20, led by a Diamondback Energy subsidiary's IPO and joined by smaller offerings among blank check and biotechnology companies.
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May 17, 2019
Jury Backs Pizza King Mario Sbarro In Steakhouse Wage Suit
A New York federal jury has found in favor of pizza restaurateur Mario Sbarro and his son in a suit brought by tipped workers for a now-closed steakhouse who claimed the Sbarros failed to pay them minimum and overtime wages as the business struggled to survive.
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May 17, 2019
Drinker Biddle Adds Kelley Drye Atty To Class Action Group
Drinker Biddle & Reath LLP has added the former co-chair of Kelley Drye & Warren LLP’s class action practice to its class action team.
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May 17, 2019
Platinum Reinsurer Strikes Back At Insurer 'Smear Campaign'
A set of reinsurance and asset management companies that has been accused of operating as an alter ego of now-defunct Platinum Partners is fighting to escape racketeering claims from the hedge fund's insurers.
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May 17, 2019
Wollmuth Maher Snags NOLA Energy Atty For NYC Office
Wollmuth Maher & Deutsch LLP has bolstered its bankruptcy, restructuring and insolvency group with a former Skadden and McGlinchey Stafford attorney who specializes in the energy industry.
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May 17, 2019
Polsinelli Lands New York M&A Shareholder From Westerman
A deal-focused attorney who steers public companies and private equity sponsors has joined Polsinelli as a shareholder in New York from Westerman Ball Ederer Miller Zucker & Sharfstein LLP.
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May 17, 2019
Dorsey & Whitney Adds Veteran Product Liability Litigator
Dorsey & Whitney LLP has given its product liability practice a boost, bringing on a veteran litigator from Goodell DeVries as a partner in its New York office.
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May 17, 2019
Cryptocurrency Thief Gets Six Years For $1.8M Heist
A New York state judge on Thursday sentenced a man to six years in prison for his admitted role in a kidnapping and robbery that drained $1.8 million worth of Ether cryptocurrency from a victim's digital wallet.
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May 16, 2019
Bitfinex, Tether Transfers Blocked As NY Judge Narrows Order
An order enjoining cryptocurrency company Tether Ltd. and trading platform Bitfinex now has a 90-day time limit after being tightened by a New York judge, while core provisions safeguarding document requests and freezing a line of credit between the two companies were left intact.
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May 16, 2019
NY Tribe, Town Look To Avoid Trial In Gambling Dispute
The Cayuga Nation and the New York village of Union Springs told a federal judge Wednesday they don't want a bench trial in the tribe's suit challenging the village's anti-gambling ordinance, saying pleadings should be finished so the court can rule on the legal issues at the case’s core.
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May 16, 2019
Feds Urge High Court To Pass On 'Bridgegate' Appeal
Federal prosecutors on Wednesday urged the U.S. Supreme Court to reject a bid from a former appointee of ex-New Jersey Gov. Chris Christie to review her "Bridgegate" conviction for orchestrating a politically motivated traffic jam on the George Washington Bridge, saying it's backed by sufficient evidence.
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May 16, 2019
Prosecutors Prodded To Disclaim Excessive SEC Coordination
A Manhattan federal judge pushed prosecutors Thursday to disavow any "excessive coordination" with the U.S. Securities and Exchange Commission in the run-up to their decision to criminally charge hedge fund co-founder Jason Rhodes with a $19 million fraud.
Expert Analysis
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Opinion
IRS Should Use Tax Law To Combat The Opioid Epidemic
The IRS, which enforces anti-trafficking tax laws against state-regulated cannabis businesses, should be fair and apply the same policy against pharmaceutical companies that illegally market their opioids, says Kat Allen at Wykowski Law.
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Reducing The Regulatory Risk Of Merchant Cash Advances
Courts and regulators have reached different conclusions on whether merchant cash advances and unpaid invoice purchases constitute loans subject to state lender licensing and usury regulations. Attorneys at Buckley discuss how to minimize the chances of these transactions being recharacterized as loans.
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State Net
Why States And Cities Are Concerned About Census Accuracy
The 2020 census will impact every state, city and county in the United States, because population is a major factor in how the federal government distributes funds. Despite apprehensions about an undercount, there are reasons for optimism about the accuracy of the census, says Lou Cannon of State Net Capitol Journal.
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Q&A
A Chat With Gilead Sciences Legal Ops Leader Gary Tully
In this monthly series, legal recruiting experts from Major Lindsey & Africa interview legal industry leaders about the increasingly competitive business environment. Here, Rod Osborne talks with Gary Tully, head of legal operations at Gilead Sciences.
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Series
Why I Became A Lawyer: Completing The Journey Home
My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.
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Examining The Evidence On VIX Manipulation
An ongoing multidistrict litigation alleges manipulation of the formula used to determine the settlement price for derivatives based on the Chicago Board Options Exchange’s volatility index. But a review of trading data reveals how reasons other than manipulation can explain trading activity on any given day, say consultants with Analysis Group.
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Don't Let License Rules Snuff Out Your Fire Expert
Lawsuits involving property damage due to fire often require the retention of an expert to investigate the fire, but testimony can be excluded if the expert lacks the required licenses. Attorneys at Tucker Ellis break down the different licensing requirements for fire scene inspection in all 50 states.
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Series
Judging A Book: Wood Reviews 'The Making Of A Justice'
Retired U.S. Supreme Court Justice John Paul Stevens' new book, "The Making of a Justice," is required reading for anyone interested in 20th and 21st century America, says Seventh Circuit Chief Judge Diane Wood.
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Opinion
NY Should Think Twice Before Legalizing Sports Betting
Instead of rushing to compete in sports betting with other states, New York state legislators should consider problems that have occurred in states that have legalized it, says Ronald Katz of GCA Law Partners.
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2nd Circ.'s Logical Take On 'Event-Driven' Securities Claims
The Second Circuit's recent opinion in Singh v. Cigna will not put an end to "event-driven" securities cases, which revolve around negative operational incidents. But it will likely increase the dismissal rate of such claims, and may deter weaker filings, say Adam Hakki and Agnès Dunogué of Shearman & Sterling.