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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

State of New York v. Raimondo

Publication Date: 2023-10-19
Practice Area: Administrative Law | Energy and Natural Resources | Environmental Law
Industry: Federal Government | Mining and Resources
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Richard C. Wesley
Attorneys: For plaintiff: For Plaintiffs-Appellants: Barbara D. Underwood, Solicitor General, Judith N. Vale, Deputy Solicitor General, on the brief, Stephen J. Yanni, Assistant Solicitor General, for Letitia James, Attorney General of the State of New York, New York, NY.
for defendant: For Defendants-Appellees: Benjamin H. Torrance, Assistant United States Attorney, on the brief, Lucas Issacharoff, Assistant United States Attorney, for Damian Williams, United States Attorney for the Southern District of New York, New York, NY. For Amicus Curiae Suffolk County: Hope Senzer Gabor, Assistant County Attorney, for Dennis M. Cohen, Suffolk County Attorney, Suffolk, NY.
Case Number: 22-1189

2020 Summer Flounder Quota Rules Partly Based on Shifted Location of Fish

Arkansas Teacher Ret. Sys. v. Goldman Sachs Group Inc.

Publication Date: 2023-08-23
Practice Area: Class Actions
Industry:
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Richard C. Wesley
Attorneys: For plaintiff: For Plaintiffs-Appellees: Kevin K. Russell, Goldstein & Russell, P.C., Bethesda, MD; Spencer A. Burkholz, Joseph D. Daley, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Thomas A. Dubbs, James W. Johnson, Michael H. Rogers, Irina Vasilchenko, Labaton Sucharow LLP, New York, NY, on the brief, Thomas C. Goldstein, Goldstein & Russell, P.C., Bethesda, MD. For Defendants-Appellants: Richard H. Klapper, David M.J. Rein, Benjamin R. Walker, Julia A. Malkina, Jacob E. Cohen, Sullivan & Cromwell LLP, New York, NY; Morgan L. Ratner, Sullivan & Cromwell LLP, Washington, D.C., on the brief, Robert J. Giuffra, Jr., Sullivan & Cromwell LLP, New York, NY. For Defendants-Appellants: Audra J. Soloway, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, on the brief, Kannon K. Shanmugam, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Washington D.C. For Amicus Curiae Former United States Securities and Exchange Commission Officials and Law Professors in Support of Defendants-Appellants: Todd G. Cosenza, Willkie Farr & Gallagher LLP, New York, NY.
for defendant: For Amicus Curiae Economic Scholars in Support of Defendants-Appellants: Victor L. Hou, Jared Gerber, on the brief, Carmine D. Boccuzzi, Jr., Cleary Gottlieb Steen & Hamilton LLP, New York, NY. For Amicus Curiae Securities Industry and Financial Markets Association, Bank Policy Institute, American Bankers Association, Chamber of Commerce of the United States of America, American Property Casualty Insurance Association in Support of Defendants-Appellants: Craig S. Waldman, Joshua C. Polster, Daniel H. Owsley, Simpson Thacher & Bartlett LLP, New York, NY; Ira D. Hammerman, Kevin Carroll, Securities Industry and Financial Markets Association, Washington, D.C.; Thomas Pinder, American Bankers Association, Washington, D.C.; Gregg Rozansky, Bank Policy Institute, Washington, D.C.; Tyler S. Badgley, U.S. Chamber Litigation Center, Washington, D.C.; Kenneth Stoller, American Property Casualty Insurance Association, Washington, D.C., on the brief, Jonathan K. Youngwood, Simpson Thacher & Bartlett LLP, New York, NY. For Amicus Curiae Society for Corporate Governance in Support of Defendants-Appellants: Jeremy C. Marwell, James T. Dawson, Vinson & Elkins LLP, Washington, D.C.; Darla C. Stuckey, Randi V. Morrison, Society for Corporate Governance, New York, NY, on the brief, Christopher E. Duffy, Vinson & Elkins LLP, New York, NY. For Amicus Curiae Washington Legal Foundation in Support of Defendants-Appellants: George Anhang, Shearman & Sterling LLP, Washington, D.C.; William Marsh, Shearman & Sterling LLP, Dallas, TX; Cory L. Andrews, John M. Masslon II, Washington Legal Foundation, Washington, D.C., on the brief, Lyle Roberts, Shearman & Sterling LLP, Washington, D.C. For Amicus Curiae Financial Economists in Support of Plaintiffs-Appellees: Jeremy Lieberman, Emma Gilmore, Pomerantz LLP, New York, NY; Andrew L. Zivitz, Kessler Topaz Meltzer & Check, LLP, Radnor, PA; Stacey M. Kaplan, Kessler Topaz Meltzer & Check, LLP, San Fransisco, CA, on the brief, Ernest A. Young, Apex, NC. For Amicus Curiae Securities Law Scholars in Support of Plaintiffs-Appellees: Linnet R. Davis-Stermitz, Gupta Wessler PLLC, Washington, D.C.; Salvatore J. Graziano, Jai K. Chandrasekhar, Bernstein Litowitz Berger & Grossmann LLP, New York, NY; Joseph E. White, III, Saxena White P.A., Boca Raton, FL, on the brief, Deepak Gupta, Gupta Wessler PLLC, Washington, D.C. For Amicus Curiae Better Markets, Inc. in Support of Plaintiffs-Appellees: John Paul Schnapper-Casteras, Schnapper-Casteras PLLC, Washington, D.C. For Amicus Curiae Former SEC Officials in Support of Plaintiffs-Appellees: John Paul Schnapper-Casteras, Schnapper-Casteras PLLC, Washington, D.C.; Daniel P. Chiplock, Lieff Cabraser Heimann & Bernstein, LLP, New York, NY, on the brief, Carolyn E. Shapiro, Schnapper-Casteras PLLC, Washington, D.C.
Case Number: 22-484

Misrepresentations Did Not Impact Stock Price; Shareholder Class Decertified

December 21, 2022 | New York Law Journal

Evan Greebel—Ex-Lawyer for Shkreli—Asks US Supreme Court to Protect Law Firm 401(k)s From Garnishment

Greebel's attorneys at Gibson, Dunn & Crutcher argued in Wednesday's petition for a writ of certiorari that the Second Circuit ruling misinterpreted the Consumer Credit Protection Act and deepened a circuit split that should be resolved by the Supreme Court.

3 minute read

U.S. v. Greebel

Publication Date: 2022-08-31
Practice Area: Criminal Law | White Collar Crime
Industry:
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Richard Wesley
Attorneys: For plaintiff: For Appellee: Varuni Nelson, Rachel G. Balaban, Beth P. Schwartz, on the brief, Thomas R. Price, Assistant United States Attorney, for Breon Peace, United States Attorney for the Eastern District of New York, Brooklyn, New York.
for defendant: For Defendant-Appellant: Reed Brodsky, Gibson, Dunn & Crutcher LLP, New York, NY.
Case Number: 21-993

Notwithstanding ERISA Provision MVRA Authorized Garnishment of 401(k) Retirement Funds

Grajales v. Comm'r of Internal Revenue

Publication Date: 2022-08-30
Practice Area: Tax
Industry: Federal Government
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Richard Wesley
Attorneys: For plaintiff: For Plaintiff-Appellant: Phillip J. Colastano and Andrew D. Lendrum, Agostino & Associates, P.C., on the brief, Frank Agostino, Agostino & Associates, P.C., Hackensack, NJ.
for defendant: For Defendant-Appellee: David A. Hubbert and Jacob Christensen, Department of Justice, Tax Division, on the brief, Pooja A. Boisture, Department of Justice, Tax Division, Washington, D.C.
Case Number: 21-1420

Borrower Is Liable Under 10 Percent 'Exaction' Deemed a Tax, Not a Penalty, Under Tax Code

August 24, 2022 | New York Law Journal

Second Circuit Rules Evan Greebel's Law Firm 401(k)s May Go to Victims as Restitution

The Mandatory Victim Restitution Act authorized garnishment, notwithstanding ERISA's anti-alienation provision, according to the appellate panel, which remanded a tax issue to the trial court.

3 minute read

Mochary v. Bergstein

Publication Date: 2022-08-02
Practice Area: Civil Procedure
Industry:
Court: U.S. Court of Appeals for the Second Circuit
Judge: Circuit Judge Richard Wesley
Attorneys: For plaintiff: For Plaintiff-Appellant: Zachary J. Phillipps, Wofsey, Rosen, Kweskin & Kuriansky, LLP, Stamford, CT, on the brief, Steven M. Frederick, Wofsey, Rosen, Kweskin & Kuriansky, LLP, Stamford, CT.
for defendant: For Defendant-Appellee: Howard K. Levine, Carmody Torrance Sandak & Hennessey LLP, New Haven, CT.
Case Number: 21-1972

'Colorado River' Abstention Vacated; Replevin, Divorce Actions Not Concurrent, Parallel

April 28, 2022 | Connecticut Law Tribune

2nd Circuit Panel Weighs Garnishing Retirement Accounts of Ex-Lawyer for 'Pharma Bro' Shkreli

Arguing that Evan Greebel's 401(k) funds qualify as "earnings," his counsel said that would mean garnishment is capped at 25% under the Consumer Credit Protection Act. A district judge said the government could garnish the accounts in their entirety to satisfy restitution obligations.

3 minute read

April 28, 2022 | New York Law Journal

2nd Circuit Panel Weighs Whether Law Firm 401(k)s of Evan Greebel—Ex-Lawyer for Shkreli—May Be Garnished

Arguing that Evan Greebel's 401(k) funds qualify as "earnings," his counsel said that would mean garnishment is capped at 25% under the Consumer Credit Protection Act. A district judge said the government could garnish the accounts in their entirety to satisfy restitution obligations.

3 minute read