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April 22, 2024
Walden Macht Launches Securities Group With Ex-Sidley Atty
White collar boutique Walden Macht & Haran LLP announced Monday that it has launched a securities enforcement defense practice headed by a recent arrival from Sidley Austin LLP in New York.
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April 22, 2024
SEC Says Terraform, Founder Owe $5.3B After Fraud Verdict
The U.S. Securities and Exchange Commission has asked a Manhattan federal judge to order bankrupt cryptocurrency exchange Terraform Labs and its founder to pay roughly $5.3 billion, weeks after a jury found them liable for a massive fraud.
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April 22, 2024
11 State AGs Urge Senate To Confirm Mangi For 3rd Circ.
A group of 11 attorneys general is calling on the Senate to confirm Adeel Mangi, nominee for the Third Circuit, who would be the first federal Muslim appellate judge if confirmed, condemning allegations that he is antisemitic or anti-law enforcement.
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April 22, 2024
Trump, NY AG Reach Deal To OK $175M Fraud Appeal Bond
Donald Trump's lawyers agreed Monday to bond conditions requiring the former president to give up control of his $175 million cash deposit pending appeal of a $465 million civil fraud judgment, staving off scrutiny from both the New York attorney general and the judge who entered the award.
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April 22, 2024
Ex-Law Dept. Employee Cops To Workers' Comp Check Thefts
A former New York City Law Department mail room worker on Monday admitted to a bank fraud conspiracy count after federal prosecutors charged him with a two-year workers' compensation check theft and forgery scheme they say netted $600,000.
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April 22, 2024
Hyundai, Kia Drivers Want $13M Fees In Car Theft Defect Deal
A consumer class of Hyundai and Kia drivers who claimed that the companies knowingly sold them cars with defects that made them easy to steal asked a California federal judge for final approval of their $145 million deal, with $13.4 million in fees, after an objector said the deal wasn't enough.
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April 22, 2024
Trump Led Plot To Undermine 2016 Election, NY Jury Told
A prosecutor told a Manhattan jury on Monday that Donald Trump was the head of a conspiracy to undermine the integrity of the 2016 election through hush-money payments, kicking off the first criminal trial of a former president.
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April 22, 2024
Airline Fires Male Pilot Over Earring, Sex Bias Suit Says
Republic Airways fired a pilot because he wore an earring to work in violation of a company appearance policy that unlawfully discriminates against workers based on gender expression, the pilot told a New York federal court Monday.
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April 22, 2024
Coverage Recap: Day 1 Of Trump's NY Hush Money Trial
Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments to adult film actress Stormy Daniels ahead of the 2016 election. Here's a full recap from day one.
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April 19, 2024
Trump On Verge Of Legal History As Full NY Jury Picked
Jury selection wrapped up Friday in the hush money trial of Donald Trump, setting the stage for opening statements to begin on Monday after a New York appeals court denied a last-ditch bid by the former president to delay the unprecedented case.
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April 19, 2024
SBF Inks Deal To Help FTX Investors Go After Promoters
Investors who launched multidistrict litigation over cryptocurrency exchange FTX's collapse asked a Florida federal judge Friday to bless their settlement with founder Sam Bankman-Fried, who has agreed to assist in their case against celebrities who promoted the platform and other defendants alleged to be part of the fraud scheme.
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April 19, 2024
Real Estate Authority: Small Bank Loans, ULI, Lunar Housing
Law360 Real Estate Authority covers the most important real estate deals, litigation, policies and trends. Catch up on this week's key developments by state — as well as on the rising regulatory focus on small-bank commercial real estate loans, takeaways from the Urban Land Institute's Resilience Summit, and an architect's guide to lunar housing.
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April 19, 2024
A Cannabis Constitutional Fight, And The Calif. Atty Behind It
Federal appellate courts are mulling multiple challenges to state and local cannabis licensure programs, all brought by one California-based attorney and each alleging that the dormant commerce clause of the U.S. Constitution must apply to federally illegal marijuana.
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April 19, 2024
Jane Street Denied TRO In Trade Theft Suit Against Millennium
A New York federal judge on Friday refused Jane Street Group LLC's bid for an emergency order after the trading firm accused rival Millennium Management LLC and two former employees of stealing and misappropriating a confidential trading strategy.
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April 19, 2024
Don't Let The Rush Into AI Create Risk Blind Spots, Cos. Told
As corporations increasingly adopt artificial intelligence capabilities into their workflows, they should also implement guardrails to stave off major risks the rapidly evolving technology poses, lawyers said during a New York City Bar panel discussion Friday.
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April 19, 2024
Sentence For Pandemic Funds Theft Seems To Split 2nd Circ.
A three-judge panel of Second Circuit jurists seemed split Friday over whether a Connecticut man's eight-year prison sentence for stealing COVID-19 funds from the city of West Haven was too harsh, with one judge expressing skepticism and two hinting it was likely appropriate.
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April 19, 2024
Justices Seek Cornell's Response To ERISA Fee Suit Petition
The U.S. Supreme Court asked Cornell University to respond to a March petition by a group of current and former workers seeking to revive a class action against the university alleging retirees' savings were saddled with unnecessarily high fees, in a sign that the case has drawn the justices' attention.
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April 19, 2024
AI Co. Founder Faces SEC Suit After Fraud Charges
The fugitive founder of a purported artificial intelligence startup was sued Friday by the U.S. Securities and Exchange Commission over an alleged $2.8 million scheme to defraud investors.
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April 19, 2024
Up Next At High Court: Abortions & Presidential Immunity
The U.S. Supreme Court will return Monday for the term's final week of oral arguments, during which it will consider several high-stakes disputes, including whether a federal healthcare law can preempt state abortion bans and whether former President Donald Trump is entitled to immunity from criminal charges related to official acts.
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April 19, 2024
Insurers Push To Arbitrate Hurricane Damage Case
An arbitrator should decide whether a Louisiana property owner's hurricane damage claims must be arbitrated, a group of surplus lines insurers argued in urging the Second Circuit to reject a New York district court's reliance on the circuit's precedent to find the arbitration clause at issue unenforceable.
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April 19, 2024
NY Diocese Claims Rep Warns Of 'Disaster' If Ch. 11 Scrapped
The future claims representative for sex abuse victims in the bankruptcy case of the Roman Catholic Diocese of Rockville Centre told a New York judge Friday he could not "stand mute while this case barrels on toward disaster," after the organization moved to dismiss its case earlier this month.
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April 19, 2024
NY Lawmakers Approve Overhauling Cannabis Tax System
New York is slated to scrap its potency-based tax system for adult-use cannabis and replace it with a more streamlined wholesale tax structure in June under a budget-related bill approved by state lawmakers.
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April 19, 2024
Madonna Sued, This Time In D.C., Over Late Concert Start
Madonna is facing another proposed class action alleging the pop star kept fans waiting hours for her concert to begin, this time from show attendees in Washington, D.C., who claim that Madonna and Live Nation are "a consumer's worst nightmare."
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April 19, 2024
NY Nixes Power Deals With Trio Of Offshore Wind Projects
New York officials on Friday said they wouldn't offer power contracts to a trio of offshore wind projects, the latest setback for the Empire State in efforts to make offshore wind a key component of its clean energy future.
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April 19, 2024
NY AG Doubts Trump Insurer Can Cover $175M Bond
The New York Attorney General's Office told a Manhattan court Friday it has doubts about a California insurer's ability to cover a $175 million bond imposed on Donald Trump after a civil trial in which he was found responsible for conspiring to inflate his wealth for financial gain.
Expert Analysis
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NY CRE Lenders Need Clarity On Foreclosure Standing
Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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5 Trade Secret Developments To Follow In 2024
Recent cases and trends in trade secret law indicate that significant developments are likely this year, and practitioners should be anticipating their impact on the business and legal landscape, say attorneys at Faegre Drinker.
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What's On Tap For Public Corruption Prosecutions In 2024
All signs point toward another year of blockbuster public corruption prosecutions in 2024, revealing broader trends in enforcement and jurisprudence, and promising valuable lessons for defense strategy, says Kenneth Notter at MoloLamken.
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Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
New York's banking and financial sector saw a number of notable regulatory and legislative changes in the final quarter of 2023, including guidance on climate risks and heightened cybersecurity protocols issued by the New York State Department of Financial Services, as well as final revisions to virtual currency listings in the state, say attorneys at WilmerHale.
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7 E-Discovery Predictions For 2024 And Beyond
The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.
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Securities Class Actions Show No Signs of Slowing In 2024
Plaintiffs asserted securities class actions at elevated levels in 2023 — a sign that filings will remain high in the year ahead — as they switched gears to target companies that allegedly have failed to anticipate supply chain disruptions, persistent inflation, rising interest rates and other macroeconomic headwinds, say attorneys at Skadden.
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ESG Concerns Can No Longer Be Ignored In 2024
While the long wait for the U.S. Securities and Exchange Commission's ESG rule continues, government attention to regulations, increased litigation efforts and shareholder resolutions seeking transparency highlight the importance of placing an emphasis on ESG considerations, say attorneys at Wollmuth Maher.
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A Closer Look At The Federal Criminal Enforcement Slump
Former Deputy Attorney General Rod Rosenstein, now at King & Spalding, explains that the U.S. Department of Justice’s statistical reports reveal that federal authorities are considerably less productive today than in the past, as criminal prosecutions fell in 2022 in every major category, for reasons that are not entirely clear.
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5 Litigation Funding Trends To Note In 2024
Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.
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What To Know About FCA Cybersecurity Enforcement
Now is a good time for practitioners, government contractors and potential relators to review recent developments in cybersecurity-related False Claims Act enforcement, and consider best practices for navigating this space in the new year, say Ellen London at London & Stout, and Li Yu and Molly Knobler at DiCello Levitt.
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8 Privacy Law Predictions For 2024
As the new year begins, looking back to several of last year's privacy law developments may help companies forecast what to focus on when updating their privacy programs, including children's privacy, so-called dark patterns and the collection of data by connected cars, say attorneys at Sheppard Mullin.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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Securities Question Stands After Contradicting Crypto Rulings
The debate about the regulation of crypto-assets came to a head in 2023 when two New York federal judges came to opposite conclusions about whether crypto-assets were securities by using the Howey test, highlighting the uncertainty facing the crypto industry as it seeks to resolve definitional questions, say attorneys at Ballard Spahr.