• October 16, 2024 | New York Law Journal

    US Judge Orders 'Prolific' Cooperating Witness to Pay Nearly $900,000 in Restitution

    U.S. District Judge Katharine Polk Failla's decision is a significant reduction of the nearly $12 million in restitution cooperator Jona Rechnitz was ordered to pay at his initial sentencing, for his role in steering, and thereby causing losses to, public pension funds.

    4 minute read

  • Malek v. Feigenbaum

    Publication Date: 2024-09-19
    Practice Area: Civil Appeals | Civil Procedure
    Industry:
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: District Judge Nusrat J. Choudhury
    Attorneys: For plaintiff: For Plaintiff-Appellant: Marvin L. Frank, on the brief, Gregory A. Frank, Frank LLP, New York, NY.
    for defendant: For Defendant-Appellee AXA Equitable Life Insurance Co.: Kurt Wm. Hemr, Alisha Q. Nanda, Sam Auld, on the brief, Jay B. Kasner, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY. For Defendant-Appellee Leonard Feigenbaum: Marc J. Ross, A.R. John Hitchings, on the brief, Daniel Scott Furst, Sichenzia Ross Ference Carmel LLP, New York NY.

    Case Number: 23-992

    Service of Reconsideration Motion Does Not Constitute Motion's Filing in District Court

  • September 12, 2024 | National Law Journal

    Citing Missed Deadline, 2nd Circuit Tosses Appeal Against Equitable Insurance

    "The local rules do not supersede the requirements of the federal rules" of appellate procedure, the appeals court held. "Moreover, the district court's individual rules explicitly warned that this Court would not accept such an argument to excuse an untimely notice of appeal."

    3 minute read

  • September 3, 2024 | New York Law Journal

    Witness in Corruption Trials Should Be Fully Liable for $12 Million Restitution, Corrections Union Says

    Jona Rechnitz was initially ordered to pay nearly $12 million restitution in 2019. In the five years since, he has only paid $315,000, according to court papers.

    4 minute read

  • Litovich v. Bank of America Corp.

    Publication Date: 2024-07-12
    Practice Area: Civil Procedure | Judges
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Per Curiam
    Attorneys: For plaintiff: For Plaintiffs-Appellants: Gregory Rapawy, Eliana Margo Pfeffer, on the brief, David C. Frederick, Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., Washington, DC. For Plaintiffs-Appellants: Christopher M. Burke, Scott+Scott Attorneys at Law LLP, New York, NY. For Plaintiffs-Appellants: Walter W. Noss, Kate Lv, Scott+Scott Attorneys at Law LLP, San Diego, CA. For Plaintiffs-Appellants: George A. Zelcs, Chad E. Bell, Ryan Z. Cortazar, Korein Tillery LLC, Chicago, IL. For Plaintiffs-Appellants: Glen E. Summers, Karma M. Giulianelli, Bartlit Beck LLP, Denver, CO.
    for defendant: For Defendants-Appellees The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC: Matthew J. Porpora, Jonathan S. Carter, on the brief, Richard C. Pepperman II, Sullivan & Cromwell LLP, New York, NY. For Defendants-Appellees Bank of America Corporation, BofA Securities, Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated: Adam S. Hakki, Richard F. Schwed, Shearman & Sterling LLP, New York, NY. For Defendant-Appellee Barclays Capital, Inc.: Barry G. Sher, Kevin P. Broughel, Paul Hastings LLP, New York, NY. For Defendant-Appellee Credit Suisse Securities (USA) LLC: Herbert S. Washer, Sheila C. Ramesh, Adam S. Mintz, Cahill Gordon & Reindel LLP, New York, NY. For Defendants-Appellees JPMorgan Chase & Co. and J.P. Morgan Securities LLC: Robert D. Wick, John S. Playforth, Covington & Burling LLP, Washington, DC. For Defendant-Appellee NatWest Markets Securities Inc: Paul S. Mishkin, Adam G. Mehes, Davis Polk & Wardwell LLP, New York, NY. For Defendants-Appellees Citigroup Inc. and Citigroup Global Markets Inc.: Jay Kasner, Karen M. Lent, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY. For Defendant-Appellant Deutsche Bank Securities Inc.: John F. Terzaken, Adrienne V. Baxley, Simpson Thacher & Bartlett LLP, Washington, DC. For Defendants-Appellees Morgan Stanley, Morgan Stanley & Co. LLC, and Morgan Stanley Smith Barney LLC: Richard A. Rosen, Brad S. Karp, Susanna M. Buergel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, Kannon K. Shanmugam, Jane B. O'Brien, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Washington, DC. For Defendants-Appellees Wells Fargo & Co., Wells Fargo Securities, LLC, and Wells Fargo Clearing Services, LLC: Jayant W. Tambe, Laura W. Sawyer, Amanda L. Dollinger, Jones Day, New York, NY.

    Case Number: 21-2905

    Judgment Vacated; Statute, Precedents Required Judge's Pre-Judgment Disqualification

  • June 17, 2024 | New York Law Journal

    Supreme Court Review: Title VII, Retaliatory Intent and Exemption from Arbitration

    This column discusses three recent U.S. Supreme Court rulings that impact an employee's ability to challenge their employer's actions and an employer's ability to compel arbitration.

    8 minute read

  • Oklahoma Firefighters Pension and Retirement System v. Banco Santander (Mexico) S.A

    Publication Date: 2024-02-22
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: District Judge Arun Subramanian
    Attorneys: For plaintiff: For Plaintiffs-Appellants: Vincent Briganti, Lowey Dannenberg, P.C., White Plains, NY, on the brief, Margaret C. MacLean, Lowey Dannenberg, P.C., White Plains, NY.
    for defendant: For Defendants-Appellees: Susan Saltzstein, Kamali P. Willett, Kartik Naram, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY; Adam S. Hakki, Shearman & Sterling LLP, New York, NY; Alan Schoenfeld, Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY; Paul S. Mishkin, Caroline Stern, Davis Polk & Wardwell LLP, New York, NY; Lev L. Dassin, Roger A. Cooper, Samuel Levander, Cleary Gottlieb Steen & Hamilton LLP, New York, NY; John Terzaken, Karen M. Porter, Simpson Thacher & Bartlett LLP, Washington, DC, on the brief, Boris Bershteyn, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY.

    Case Number: 22-2093

    Mexican Banks Had Contacts With NY Based on Sales by 'Pass-Through' Broker-Dealers

  • January 18, 2024 | New York Law Journal

    Second Circuit: Speculation in TransPerfect Case Against Lionbridge in SDNY Is 'a Stretch'

    The Jan. 17 decision, as a summary order, doesn't set an official precedent, but it signals to attorneys what level of evidence may be needed for a case claiming transaction-related NDAs were breached to have a chance at going to trial. Judges John M. Walker Jr., Denny Chin and Beth Robinson considered the appeal.

    3 minute read

  • January 18, 2024 | Delaware Business Court Insider

    Speculation in TransPerfect Case Against Lionbridge in SDNY Is 'a Stretch,' 2nd Circ. Says

    The Jan. 17 decision, as a summary order, doesn't set an official precedent, but it signals to attorneys what level of evidence may be needed for a case claiming transaction-related NDAs were breached to have a chance at going to trial. Judges John M. Walker Jr., Denny Chin and Beth Robinson considered the appeal.

    3 minute read

  • Saba Capital CEF Opportunities 1 LLC v. Nuveen Floating Rate Income Fund

    Publication Date: 2023-12-08
    Practice Area: Securities Litigation
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Richard C. Wesley
    Attorneys: For plaintiff: For Plaintiffs-Appellees: Jacob W. Buchdahl, Susman Godfrey LLP, New York, NY, on the brief, Mark P. Musico, Susman Godfrey LLP, New York, NY.
    for defendant: For Defendants-Appellants Nuveen Floating Rate Income Fund, Nuveen Floating Rate Income Opportunity Fund, Nuveen Short Duration Credit Opportunities Fund, Nuveen Global High Income Fund, and Nuveen Senior Income Fund: Parker Rider-Longmaid, Kyser Blakely, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC; Scott Musoff, Boris Bershteyn, Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY; Eben Colby, Emily Jennings, Skadden, Arps, Slate, Meagher & Flom LLP, Boston, MA, on the Brief, Shay Dvoretzky, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC. For Defendants-Appellants Terence J. Toth, Jack B. Evans, William C. Hunter, Albin F. Moschner, John K. Nelson, Judith M. Stockdale, Carole E. Stone, Margaret L. Wolff, Robert L. Young, and Matthew Thornton III, in their capacity as Trustees of the Nuveen Trusts: Robert A. Skinner, Douglas Hallward-Driemeier, Amy D. Roy, Ropes & Gray LLP, Boston, MA. For Amicus Curiae The Investment Company Institute in Support of Defendants-Appellants: Susan Olson, Dorothy Donohue, Kenneth Fang, The Investment Company Institute, Washington, DC; Steven A. Engel, David A. Kotler, Michael H. McGinley, Dechert LLP, New York, NY. For Amicus Curiae Bulldog Investors, LLP in Support of Plaintiffs-Appellees: Aaron T. Morris, Andrew W. Robertson, Morris Kandinov LLP, New York, NY.

    Case Number: 22-407

    Firm's Bylaws Amendment Violates ICA as Restriction on Shareholders, Not on Shares