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Real Estate
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March 28, 2024
DOJ, FTC Weigh In On Another Pricing Algorithm Case
The U.S. Department of Justice and the Federal Trade Commission intervened in another alleged algorithmic collusion case Thursday with a statement of interest arguing that Atlantic City casino-hotels can't duck room rate price-fixing allegations simply by arguing there's no evidence they communicated directly or that pricing recommendations were binding.
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March 28, 2024
Ga. Airbnb Owner Must Face Suit Over Off-Property Injury
A woman who was injured by a falling limb outside an Airbnb in Savannah, Georgia, has had part of her suit revived by a state appeals court, which found that the rental owner could be liable for the injury because it occurred on an "approach" to his property though not directly on it.
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March 28, 2024
Fruit Grower Cleared To Leave Ch. 11 With $43M Exit Loan
California stone fruit producer Prima Wawona is set to wind down its packing and distribution division, hand ownership of the reorganized company to creditors and leave bankruptcy after a Delaware bankruptcy judge agreed to approve its Chapter 11 plan Thursday.
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March 28, 2024
Wash. Appeals Court Asked To Mull COVID Coverage Question
A Washington state court has halted litigation over the University of Washington's bid for COVID-19 business interruption coverage from a Liberty Mutual unit, asking a state appeals court to first determine whether the presence of COVID-19 satisfies UW's policies' direct physical loss or damage requirement and if a contamination exclusion applies.
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March 28, 2024
MLS, Trade Group Say DOJ Deal Fix Itself Anti-Competitive
The U.S. Department of Justice drew fire Wednesday for pushing what a real estate trade group argued would itself be an anti-competitive rule, as the DOJ and other outside groups vie to influence a proposed $3 million settlement over house broker commissions in Massachusetts federal court.
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March 28, 2024
Deals Rumor Mill: WeWork, Reading FC, Pet Food Co.
Ex-WeWork CEO Adam Neumann looks to buy the company back, Chiron Sports Group is in talks to buy Reading Football Club, and the private equity firms Advent and CVC eye a pet food company. Here, Law360 breaks down the notable deal rumors from the past week.
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March 28, 2024
Texas Airbnb Host Says Suit Over Fatal Blast In Wrong Venue
The Texas owner of an Airbnb rental unit in Jamaica where a gas stove exploded, causing fatal injuries to a Connecticut woman, says she cannot be sued where the victim lived, arguing that she never targeted the online listing for the property to anyone in Connecticut and that the federal court there lacks jurisdiction over her as a resident of Texas.
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March 28, 2024
Spokeo Accused Of Flouting NJ Judicial Protection Law
Spokeo Inc., the people search database provider, violated New Jersey state law by not removing information about law enforcement personnel from its database after requests were filed, a data privacy company contends in a lawsuit.
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March 28, 2024
Investors Strike $42.5M Deal In Brookfield-GGP Merger Suit
Brookfield Property Partners LP has reached a tentative $42.5 million deal to bring an end to a yearslong battle with stockholders who alleged they were given misleading information about the global real estate company's 2018 acquisition of U.S. mall operator GGP Inc.
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March 28, 2024
Va. Landowners Return To Supreme Court In FERC Challenge
Virginia residents with property being condemned for the Mountain Valley Pipeline are asking the U.S. Supreme Court to review a D.C. Circuit decision dismissing their suit challenging the constitutionality of the Federal Energy Regulatory Commission's eminent domain authority, and its ability to delegate that authority to private companies.
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March 28, 2024
Ore. To Give Tax Break For Wildfire Settlement Payouts
Oregon victims of wildfires who receive funds in civil actions will not owe income tax on those payments under legislation signed into law by the governor.
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March 28, 2024
The Home Depot Buying PE-Backed SRS For $18.25B
The Home Depot said Thursday it has agreed to acquire SRS Distribution Inc., a private equity-backed distributor of roofing and building supplies, for $18.25 billion, inclusive of debt.
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March 27, 2024
5th Circ. Reissues Arb. Decision In Hurricane Damage Case
The Fifth Circuit has reissued its opinion allowing a group of domestic insurers to force arbitration of a dispute over coverage for hurricane damage under an international arbitration clause after the insurers argued that the unanimous decision applied circuit precedent in a new context.
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March 27, 2024
Vrbo Host Is Breaking Zoning Regs, Conn. High Court Told
Some justices of the Connecticut Supreme Court signaled on Wednesday that a lower court may have failed to provide a workable definition of the word "residence" when deciding that a Branford-based zoning board's regulations allowed short-term rentals through services like Vrbo and Airbnb.
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March 27, 2024
DoorDash, Grubhub Want Docs From NY Restaurant Lobbyists
DoorDash, Grubhub and Uber Eats have urged a Manhattan federal judge to let them subpoena the trade group executives who allegedly "worked closely" with officials on challenged New York City caps on fees that food delivery apps can charge restaurants.
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March 27, 2024
NYC Mayor Says City Laws Can't Expand Housing Vouchers
New York City Mayor Eric Adams has urged a state court to rule against a proposed class that wants the court to enforce a set of local laws aiming to expand a housing voucher program, saying those measures conflict with state law.
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March 27, 2024
Yellow Corp. Pension Fund Liability To Be Decided In Ch. 11
A Delaware bankruptcy judge on Wednesday denied the Pension Benefit Guaranty Corp.'s bid to take a dispute with Yellow Corp. over $7.8 billion in retirement fund withdrawal liability claims to arbitration, finding the dispute would be best resolved through the trucking firm's Chapter 11 claims allowance process.
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March 27, 2024
On Deck In JPML: Baby Food, 23andMe Privacy, NCAA
The Judicial Panel on Multidistrict Litigation's packed meeting Thursday in South Carolina will see the panel mulling consolidation of privacy litigation against 23andMe, claims of heavy metals in baby food, and scholarship-fixing claims by student athletes against the NCAA — and that's just for starters.
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March 27, 2024
Navajo Sue Feds Over Withheld Forestry Program Funds
The Navajo Nation claims the U.S. Department of the Interior unlawfully withheld more than a million dollars in funding for its contracted forestry management program, telling a D.C. federal judge the department should be forced to provide the money and accept the funding agreements proposed by the nation.
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March 27, 2024
4th Circ. Overturns Fraud Ruling In Suit Over $4.5M Home Buy
The Fourth Circuit on Wednesday revived fraud claims brought by the buyers of a $4.5 million Virginia home who accuse the seller of lying about licenses and permits for improvements to lure them into the purchase, with the panel concluding a federal district court flubbed decisions on the claims.
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March 27, 2024
Ore. Tax Court OKs Some Deductions For Real Estate Investor
An Oregon real estate investor is allowed income tax deductions for some expenses accrued while attending an education seminar, the state Tax Court said, but not deductions claimed for international business trip expenses.
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March 27, 2024
Minn. Justices Uphold Tax Break For Housing Charity
A Minnesota charity is entitled to a property tax exemption for its low-income housing development, the state Supreme Court ruled Wednesday, finding that the property is operated by the organization in line with its charitable purpose.
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March 27, 2024
Pittsburgh Aims To Ax $14M Of Nonprofits' Tax Waivers
Officials with the city of Pittsburgh announced Wednesday that they will file challenges to tax exemptions for more than 100 properties within the city, claiming that they are no longer owned by nonprofits or serving a charitable function and should put up to $14 million back on local tax rolls.
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March 27, 2024
Kimco Sells 10 Shopping Centers For $248M After RPT Buy
Real estate investment trust Kimco Realty said it has sold 10 open-air shopping centers it gained in an acquisition of RPT Realty earlier this year for a total of $248 million.
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March 27, 2024
Cannabis Real Estate Firm Gets $20.2M In Fraud Verdict
A Los Angeles County court has awarded a pair of cannabis real estate firms $20.2 million in a suit alleging they were defrauded of more than $14 million in a scheme by a business owner who falsely represented that he'd owned several cannabis facilities in the state.
Expert Analysis
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Series
Performing Music Makes Me A Better Lawyer
The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
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The SEC's Cooled Down But Still Spicy Private Fund Rules
Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.
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Trump NY Fraud Trial Shows Civil, Criminal Case Differences
Former President Donald Trump’s civil fraud trial currently unfolding in New York provides a reminder that civil bench trials can be just as damaging, if not more so, than criminal prosecutions, due to several key elements of civil litigation procedure, says retired attorney David Moskowitz.
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Opinion
Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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Why NYC Building Owners Shouldn't Ignore Emissions Rule
New rules from the New York City Department of Buildings clarify the previously vague good faith efforts that building owners may make to mitigate penalties for not complying with a major carbon emission law that takes effect in January, and should discourage owners from simply paying the fines instead of decarbonizing, says William McCracken at Moritt Hock.
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Series
Writing Thriller Novels Makes Me A Better Lawyer
Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.
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Unpacking Long-Awaited Clean Energy Tax Credit Guidance
Recently proposed Internal Revenue Service regulations provide welcome confirmatory guidance on the application of investment tax credits as reworked by 2022's Inflation Reduction Act, prevailing wage and apprenticeship rules that are largely consistent with market expectations, and broader eligibility criteria that should please the wind power industry in particular, say attorneys at Morgan Lewis.
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What Lawyers Must Know About Calif. State Bar's AI Guidance
Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.
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Industry Must Elevate Native American Women Attys' Stories
The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.
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A Year-End Look At Florida's Capital Investment Tax Credit
Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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Navigating USCIS' New Minimum EB-5 Investment Period
Recent significant modifications to U.S. Citizenship and Immigration Services’ EB-5 at-risk requirement are causing uncertainty for several reasons, but investors who consider certain key aspects of prospective projects can mitigate the immigration and investment risks, say Samuel Silverman at EB5AN, Ronald Klasko at Klasko Immigration, and Kate Kalmykov at Greenberg Traurig.
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Series
ESG Around The World: Mexico
ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.
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Crypto Has Democratized Trading In Bankruptcy Claims
Following the pandemic, there has been a wave of cryptocurrency bankruptcies and a related increase in access to information, allowing nontraditional bankruptcy investors to purchase claims and democratizing a once closed segment of alternative investing, says Joseph Sarachek at Strategic Liquidity.