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July 23, 2007 |

$77 Million Arbitration Award Upheld for Hedge Fund Limited Partners

A brother and sister who used their respective positions as founder of a hedge fund and stock broker to boost the brother's personal accounts, to the detriment of his limited partners, have been ordered by a New York state judge to pay nearly $77 million to the partners. Manhattan Supreme Court Justice Herman Cahn upheld an arbitration panel's award and its finding that the defendants breached their fiduciary duties by allocating more profitable securities trades to the brother's account.
4 minute read
December 22, 2006 |

The McNulty Memo: Real Change or Retreat?

In the wake of newly revised guidelines for federal prosecutors investigating and prosecuting corporations, the key question, according to white-collar criminal defense lawyers, is: Are the guidelines meaningful change or strategic retreat?
5 minute read
September 19, 2002 |

Judge Throws Out 'Harry Potter' Copyright Suit

A federal judge in New York has sanctioned an author $50,000 for submitting false evidence in a copyright and trademark infringement suit against the publisher of the blockbuster "Harry Potter" children's books. The judge found that Nancy Stouffer knowingly submitted fraudulent documents to the court in an attempt to bolster claims that J.K. Rowling copied ideas from Stouffer's unsuccessful children's stories.
4 minute read
March 10, 2006 |

French Waiters Claim Bias in Suing Famed N.Y. Restaurant

Three older French waiters will have their day in court against the iconic midtown Manhattan restaurant "21," whose director of operations allegedly fired them out of pro-Bush, anti-French fervor. The plaintiffs allege that the defendants "singled out older employees of French national origin with fabricated and false allegations of drinking on the job or other malfeasance." A New York judge has denied the restaurant's motion to dismiss.
3 minute read
September 30, 2004 |

Mutual Fund Trades: First a Probe, Now a Suit

Ever since New York Attorney General Eliot Spitzer began investigating the mutual fund industry for "widespread illegal trading schemes," he's also been examining lawyers' advice to brokers. No lawyers or firms have been charged with wrongdoing, but this month two ex-brokerage house executives sued Piper Rudnick and a lawyer in its New York office for malpractice. Now under investigation, the former execs claim they were advised that the trades they brokered were perfectly legal.
3 minute read
July 07, 2005 |

2nd Circuit Reverses Denial of Jury Trial in Breach of Duty Case

Overturning a multimillion-dollar verdict, the 2nd Circuit has reversed a federal judge's refusal to grant a jury trial to director defendants and officers accused by a bankruptcy trustee of breaching their fiduciary duties. The ruling gives defendants a second chance to prevail in defending claims that they mismanaged assets of Trace International Holdings. Trace's CEO was accused of exhausting the company's capital partly with a large salary, a loan and a $1 million birthday party for himself.
5 minute read
August 05, 2010 |

News In Brief

6 minute read
June 29, 2012 |

Court Clears 9-1-1 Operators in Failed Rescue of Stabbing Victim

The family of three people killed in a knife attack has run out of claims to pursue against the 9-1-1 operators who failed to dispatch timely emergency aid, now that a state appeals court has upheld dismissal of charges of willful and wanton conduct.
4 minute read
December 20, 2006 |

The 'McNulty Memo': Real Change, or Retreat?

The McNulty memorandum, issued by Deputy U.S. Attorney General Paul McNulty last week, revises the controversial Thompson memorandum, which was widely criticized as creating a culture in which prosecutors routinely demanded waiver of the attorney-client and work-product privileges as evidence of cooperation with an investigation. Now the key question, according to white-collar criminal defense lawyers, is: Are the guidelines meaningful change or strategic retreat?
5 minute read

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