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White Collar
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May 10, 2024
SEC Asks For Win Following Ex-Apple Atty's Guilty Plea
The U.S. Securities and Exchange Commission moved for summary judgment Friday on insider trading claims against a former senior attorney at Apple Inc., arguing there is no need to relitigate claims since the lawyer already pled guilty to criminal charges related to a lucrative insider trading scheme.
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May 10, 2024
Biz Claims Foreign Bribe Needed To Meet Energy Deal's Terms
An aviation fuel company protested the U.S. Defense Logistics Agency's latest effort to supply fuel to military bases in Djibouti, accusing the agency of requiring interested contractors to obtain a license that can, allegedly, only be received through bribery.
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May 10, 2024
FCC Removes Two Providers From Broadband Program
The Federal Communications Commission ordered the removal of Texas-based internet service provider Tone Communication Services LLC and Georgia-based provider City Communications Inc. from the Affordable Connectivity Program.
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May 10, 2024
Texas Man Gambled Away Hemp Biz Investments, SEC Claims
The U.S. Securities and Exchange Commission has filed suit in Colorado against a Texas man and his purported hemp industry investment businesses, alleging he spent over half of nearly $1.3 million raised from investors over three years on sustaining a lifestyle involving full-time gambling.
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May 10, 2024
Cohen Urged To Stop Trashing Trump As Testimony Nears
The Manhattan judge overseeing Donald Trump's criminal hush money trial made clear Friday that he wants star witness Michael Cohen to stop talking publicly about the charges as the former president's erstwhile attorney prepares to take the stand as soon as Monday.
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May 10, 2024
DC Tax Atty Can't Use Ch. 7 To Ditch Depo In $19M Theft Suit
A corporate D.C. tax attorney accused of bilking a former client out of $19 million via a captive insurance scam will be deposed, despite a stay in the Maryland federal case against him and his firm after both filed for bankruptcy.
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May 10, 2024
DC Circ. Mulls Jeffrey Clark's Removal Bid In Ethics Case
Embattled former Trump administration lawyer Jeffrey Clark brought the fight to save his law license to oral arguments before a federal appeals court on Friday, though members of the D.C. Circuit panel hearing the case said they were struggling at times to follow his attorney's arguments.
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May 10, 2024
Off The Bench: Ohtani Translator's Plea, NBA Star Tops Agent
In this week's Off The Bench, Shohei Ohtani's ex-interpreter will plead guilty, an NBA star wins in his clash with the agent who sought to represent him, and a tennis player who was abused by her former coach is awarded $9 million.
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May 10, 2024
SEC Targets Fatburger's Parent Co. In $27M Loan Scheme
The restaurant company that owns Fatburger and Fazoli's made illegal loans to its director and former chief executive, who spent $27 million in company money on himself while skirting taxes and leaving the company struggling, the Securities and Exchange Commission told a California federal court Friday.
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May 10, 2024
'Iron Man 2' Actor Guilty Of Wire Fraud In COVID 'Cure' Scam
A bodybuilder and actor from "Iron Man 2" was found guilty Friday of 11 counts of wire fraud by a Los Angeles federal jury, after prosecutors argued he tried to scam investors in March 2020 by falsely claiming he'd found a cure for COVID-19 and that NBA legend Earvin "Magic" Johnson was a major investor.
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May 10, 2024
Feds Seek 20 Mos. For Ex-Baltimore State's Atty
Prosecutors asked a Maryland federal court to sentence former state's attorney Marilyn Mosby to 20 months in prison after she was convicted of lying to obtain money from a retirement fund and conning a lender to obtain a vacation home, saying she "could not be trusted to tell the truth" despite her position of public trust.
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May 10, 2024
Coverage Recap: Day 11 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 ahead of the 2016 election. Here's a recap from Friday, day 11 of the trial.
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May 10, 2024
Ex-Pryor Cashman Securities Chair Joins Alston & Bird
Alston & Bird LLP announced Thursday that it hired an experienced trial attorney who previously chaired Pryor Cashman LLP's securities practice as a partner based in New York.
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May 10, 2024
The Week In Trump: All Eyes On NY As Other Cases Lag
Donald Trump's Manhattan hush money trial took center stage with dramatic testimony from adult film actress Stormy Daniels, while the former president's criminal cases in Georgia and Florida ran into delays that could last through Election Day.
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May 10, 2024
New Evidence, Old Politics To Collide In 2nd Menendez Trial
U.S. Sen. Robert Menendez and the government will face off Monday for the second time before a jury tasked with weighing bribery charges, a courtroom showdown that promises higher stakes — think flashier evidence and a more dramatic defense — than the corruption case the New Jersey Democrat escaped seven years ago.
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May 10, 2024
DC Circ. Upholds Steve Bannon's Contempt Conviction
The D.C. Circuit on Friday upheld former Trump aide Steve Bannon's conviction for contempt of Congress, rejecting Bannon's argument that he did not "willfully" flout a subpoena from the Jan. 6 House select committee because his lawyer advised him not to respond to it.
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May 09, 2024
3rd Circ. Rejects Hunter Biden Gun Appeal, Trial Set For June
The Third Circuit on Thursday refused to consider Hunter Biden's appeal of three Delaware federal court orders declining to dismiss felony firearm charges against him, an order issued the same day the lower court again refused to toss the indictment and scheduled the trial for June.
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May 09, 2024
NC Bribery Jury Hears Insurance Chief's Undercover Convo
Defense attorneys for embattled insurance mogul Greg E. Lindberg on Thursday played recordings to back their assertion that the North Carolina insurance commissioner separated Lindberg from his "trusted advisers" and goaded a bribe, saying he never brought up money until the public official put it on the table.
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May 09, 2024
Daniels Defiant As Trump Atty Attacks Hush Money Account
Adult film star Stormy Daniels was defiant on Thursday in the face of a grueling cross-examination by counsel for Donald Trump in the Manhattan hush money trial, who sought to discredit her account of a 2006 sexual encounter with him at a celebrity golf tournament.
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May 09, 2024
SEC Says Bogus Billion-Dollar Co. Ran Stock Offering Fraud
The U.S. Securities and Exchange Commission on Thursday accused a man previously convicted of wire and tax fraud of conducting a fake stock offering on misrepresentations that he ran a diversified energy, health care, technology and real estate company that would net billions in revenue when in fact it tallied less than $15,000 in sales.
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May 09, 2024
Ex-Minor Leaguer Settles With SEC Over Del Taco Deal Tip Off
A former minor league baseball player has agreed to pay more than $58,000 to resolve U.S. Securities and Exchange Commission insider trading allegations involving burger chain Jack in the Box's $575 million acquisition of its fellow chain Del Taco.
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May 09, 2024
SEC Sues 3 Penny Stock Firms Over Failure To Register
The U.S. Securities and Exchange Commission has filed suit against a Long Island man and his three companies, accusing them of violating registration provisions of federal securities law in connection with a $75 million penny stock scheme.
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May 09, 2024
Oil Trader Sues BakerHostetler, Alleges Fake CIA Program Con
A Swiss-based oil trading company sanctioned last year by the United Kingdom for alleged ties to Russia has sued BakerHostetler in California court, alleging a con man posing as a CIA agent tried to steal control of the company as the law firm vouched for his legitimacy.
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May 09, 2024
7 Fla. Men Indicted In Nationwide Skimming Device Operation
Seven Florida men have been indicted in Virginia federal court on racketeering conspiracy charges in connection to a decadelong operation to clone credit cards that involved placing skimming devices on gas pumps throughout the country, U.S. prosecutors said.
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May 09, 2024
Chinese Tycoon In $500M Debt To Investors To Be Released
A Chinese cinema magnate who owes his investors more than $500 million will no longer be detained on immigration and campaign donor fraud charges, a New York federal court ruled Thursday.
Expert Analysis
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More Than Drugs At Stake In High Court's 'Blind Mule' Case
The U.S. Supreme Court's eventual decision in Diaz v. U.S., evaluating whether expert witnesses may testify that most defendants caught with drugs at the border know they are transporting drugs, could have implications for prosecuting everything from complex financial crimes to gun and drug cases, says Kenneth Notter at MoloLamken.
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A Refresher On Witness Testimony In 3 Key Settings
The recent controversy over congressional testimony from university presidents about antisemitism on campus serves as a reminder to attorneys about what to emphasize and avoid when preparing witnesses to testify before Congress, and how this venue differs from grand jury and trial proceedings, say Jack Sharman and Tyler Yarbrough at Lightfoot Franklin.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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Preparing For DOJ's Data Analytics Push In FCPA Cases
After the U.S. Department of Justice’s recent announcement that it will leverage data analytics in Foreign Corrupt Practice Act investigations and prosecutions, companies will need to develop a compliance strategy that likewise implements data analytics to get ahead of enforcement risks, say attorneys at Cozen O'Connor.
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Considering The Logical Extremes Of Your Legal Argument
Recent oral arguments in the federal election interference case against former President Donald Trump highlighted the age-old technique of extending an argument to its logical limit — a principle that is still important for attorneys to consider in preparing their cases, says Reuben Guttman at Guttman Buschner.
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How High Court SEC Case Could Affect The ITC
While the U.S. Supreme Court’s upcoming ruling in U.S. Securities and Exchange Commission v. Jarkesy will likely spare the U.S. International Trade Commission from major operative changes, the ITC’s ability to issue penalties for violations of its orders may change, say Gwendolyn Tawresey and Ryan Deck at Troutman Pepper.
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Storytelling Strategies To Defuse Courtroom Conspiracies
Misinformation continues to proliferate in all sectors of society, including in the courtroom, as jurors try to fill in the gaps of incomplete trial narratives — underscoring the need for attorneys to tell a complete, consistent and credible story before and during trial, says David Metz at IMS Legal Strategies.
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$32.4M Fine For Info Disclosure Is A Stark Warning For Banks
The New York State Department of Financial Services and the Federal Reserve's fining of a Chinese state-owned bank $32.4 million last month underscores the need for financial institutions to have policies and procedures in place to handle confidential supervisory information, say attorneys at Sidley.
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Lessons From Rare Post-Verdict Healthcare Fraud Acquittal
A Maryland federal court recently overturned a jury verdict that found a doctor guilty of healthcare fraud related to billing levels for COVID-19 tests, providing defense attorneys with potential strategies for obtaining acquittals in similar prosecutions, says attorney Andrew Feldman.
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ChristianaCare Settlement Reveals FCA Pitfalls For Hospitals
ChristianaCare's False Claims Act settlement in December is the first one based on a hospital allegedly providing private physicians with free services in the form of hospital-employed clinicians and provides important compliance lessons as the government ramps up scrutiny of compensation arrangements, say attorneys at Sheppard Mullin.
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EDNY Ruling Charts 99 Problems In Rap Lyric Admissibility
A New York federal court’s recent ruling in U.S. v. Jordan powerfully captures courts’ increasing skepticism about the admissibility of rap lyrics as evidence in criminal trials, particularly at a time when artists face economic incentives to embrace fictional, hyperbolic narratives, say attorneys at Sher Tremonte.
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3 Principles For Minimizing The Risk Of A Nuclear Verdict
In one of the latest examples of so-called nuclear verdicts, a single plaintiff was awarded $2.25 billion in a jury trial against Monsanto — revealing the need for defense attorneys to prioritize trust, connection and simplicity when communicating with modern juries, say Jenny Hergenrother and Mia Falzarano at Alston & Bird.
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Series
Coaching High School Wrestling Makes Me A Better Lawyer
Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.
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Freight Forwarders And Common Carriers: Know Your Cargo
Freight forwarders and other nonprincipal parties involved in global cargo movement should follow the guidance in the multi-agency know-your-cargo compliance note to avoid enforcement actions should they fail to spot evasive tactics used in supply chains to circumvent U.S. sanctions and export controls, say attorneys at Venable.
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Takeaways From 9th Circ. Nix Of Ex-GOP Rep.'s Conviction
The Ninth Circuit recently reversed the conviction of former Rep. Jeff Fortenberry, R-Neb., for lying to the FBI, showing that the court will rein in aggressive attempts by the government to expand the reach of criminal prosecutions — and deepening a circuit split on an important venue issue, say attorneys at Skadden.