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October 20, 2016 |

US Agency Paid Two Firms Over $1 Billion in Battle With Banks

Kellogg Huber and Korein Tillery earned more than $1 billion in contingency fees for leadling the National Credit Union Administration's legal fight with big banks.
24 minute read
September 26, 2016 |

Auctioning Off a Chance to Win

A litigation funder buys a claim out of bankruptcy.
8 minute read
September 15, 2016 |

Facebook Strikes Out in Fraud Suit Against DLA Piper, Milberg

New York's top court on Thursday refused to revive Facebook Inc.'s two-year-old attorney deceit claims against three law firms that formerly represented Paul Ceglia, the now-fugitive who claimed an 84 percent ownership stake in the social media giant.
26 minute read
September 08, 2016 |

Litigation Funder Wins Stake in $213M Renco Judgment

In what may be the first public sale of a litigation claim to a third-party funder, Gerchen Keller Capital paid $26.2 million to the estate of a bankrupt Utah magnesium company in exchange for stake in a judgment the bankruptcy trustee won at trial last year.

12 minute read
September 06, 2016 |

MoneyGram Securities Class Action to Stay in Federal Court

A securities class action against MoneyGram International Inc. may not be remanded to Delaware's Superior Court after the U.S. District Court for the District of Delaware ruled for the first time that amendments to the Securities Act of 1933 stripped state courts of jurisdiction over such suits.
11 minute read
August 30, 2016 |

9th Circuit Shuts Down FTC Data-Throttling Suit Against AT&T

The U.S. Court of Appeals for Ninth Circuit has clipped the authority of the Federal Trade Commission when it comes to regulating phone companies.
8 minute read
Federal Trade Commission v. AT&T Mobility LLC
Publication Date: 2016-08-29
Practice Area:
Industry:
Court: 9th Cir.
Judge: Edward M. Chen, District Judge, Presiding Before: Richard R. Clifton, and Sandra S. Ikuta, Circuit Judges, and William Q. Hayes,* District Judge.
Attorneys:
For plaintiff: Joel Marcus (argued), Director of Litigation; Matthew M.Hoffman and David L. Sieradzki, Attorneys; David C. Shonka, Acting General Counsel; Federal Trade Commission, Washington, D.C.; Evan Rose, Matthew D. Gold, and Linda K. Badger, Federal Trade Commission, San Francisco, California; for Plaintiff-Appellee.
For defendant: Michael K. Kellogg (argued) and Mark C. Hansen; Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C., Washington, D.C.; David L. Anderson, Sidley Austin LLP, San Francisco, California; for Defendant-Appellant.
Case number: No. 15-16585

Cite as 16 C.D.O.S. 9487 FEDERAL TRADE COMMISSION, Plaintiff-Appellee, v. AT&T MOB

June 20, 2016 |

Racketeering Law Applies Outside the U.S., With Limits, Justices Rule

The nation's chief law against racketeering applies to some activities outside of the United States, but private plaintiffs must claim a domestic injury, the U.S. Supreme Court on Monday ruled in a closely watched business case involving a major American cigarette and food producer.
12 minute read
Federal Deposit Insurance Corporation, as Receiver for Colonial Bank, Plaintiff-Appellant v. First Horizon Asset Securities, Inc., First Horizon Home Loan Corporation, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., FTN Financial Securities Corp., HSBC Securities (USA) Inc., RBS Securities Inc., UBS Securities LLC, and Wells Fargo Asset Securities Corporation, Defendants-Appellees, Chase Mortgage Finance Corp., JP Morgan Chase & Co., JP Morgan Securities LLC, Citicorp Mortgage Securities, Inc., Citimortgage, Inc., Citigroup Global Markets Inc., Ally Securities LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Defendants, 14-3648-cv
Publication Date: 2016-06-09
Practice Area:
Industry: Financial Services and Banking | Investments and Investment Advisory
Court: U.S. Court of Appeals, Second Circuit
Judge: Before: Parker, Lynch, and Carney, C.JJ.
Attorneys:
For plaintiff: For Plaintiff-Appellant: Colleen J. Boles, Assistant General Counsel, Kathryn R. Norcross, Senior Counsel, Jaclyn C. Taner, Counsel, on the brief, James Scott Watson, Counsel, Federal Deposit Insurance Corporation, Arlington, Virginia.
For defendant: For Defendants-Appellees First Horizon Asset Securities, Inc., First Horizon Home Loan Corporation, FTN Financial Securities Corp., and UBS Securities, LLC: Bruce E. Clark, David B. Tulchin, Amanda Flug Davidoff, Jeffrey B. Wall, on the brief, Robert J. Giuffra, Jr., Sullivan & Cromwell LLP, New York, NY. For Defendant-Appellee Credit Suisse Securities (USA) LLC: Richard W. Clary, Cravath, Swaine & Moore LLP, New York, NY. For Defendants-Appellees Deutsche Bank Securities Inc. and RBS Securities Inc.: Thomas C. Rice, Andrew T. Frankel, Simpson Thacher & Bartlett LLP, New York, NY. For Defendant-Appellee Wells Fargo Asset Securities Corporation: Marc T.G. Dworsky, Munger, Tolles & Olson LLP, Los Angeles, California. For Defendant-Appellee HSBC Securities (USA) Inc.: Michael O. Ware, Mayer Brown LLP, New York, NY. For Amici Curiae Federal Housing Finance Agency and National Credit Union Administration Board in Support of Plaintiff-Appellant: Philippe Z. Selendy, Adam M. Abensohn, Quinn Emanuel Urquhart & Sullivan, LLP, New York, New York, David C. Frederick, Wan J. Kim, Gregory G. Rapawy, Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C., Washington, District of Columbia, on the brief, Kathleen M. Sullivan, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY. For Amici Curiae Securities Industry and Financial Markets Association, The American Bankers Association, and The Clearing House LLC in Support of Appellees and Affirmance: Michael J. Dell, Kramer Levin Naftalis & Frankel LLP, New York, New York, Ira D. Hammerman, Kevin Carroll, Securities Industry and Financial Markets Association, Washington, District of Columbia, Thomas Pinder, American Bankers Association, Washington, District of Columbia. For Amicus Curiae The Business Roundtable in Support of Defendants-Appellees: William M. Jay, Goodwin Procter LLP, Washington, District of Columbia, Joshua M. Daniels, Goodwin Procter LLP, Boston, Massachusetts.
Case number: 14-3648-cv

Cite as: FDIC v. First Horizon Asset Securities, Inc., 14-3648-cv, NYLJ 1202759641428, at *1 (2d Cir., Decided May 19, 2016) 14-3648-cv Before: Pa

In re: LIBOR‐Based Financial Instruments Antitrust Litigation, 13‐3565
Publication Date: 2016-05-25
Practice Area: Criminal Practice
Industry: Financial Services and Banking
Court: U.S. Court of Appeals, Second Circuit
Judge: Before: Jacobs, Raggi, and Lynch, C.JJ.
Attorneys:
For plaintiff: For Plaintiffs-Appellants Ellen Gelboim and Linda Zacher in Case No. 13-3565 with Eric F. Citron on the brief, Thomas C. Goldstein, Goldstein & Russell, P.C., Bethesda, MD.
For defendant: For Defendants-Appellees Bank of America Corporation, Bank of America, N.A., and Merrill Lynch, Pierce, Fenner & Smith, Inc., f/k/a Banc of America Securities LLC (additional counsel for the many parties and amici are listed in Appendix A) with Arthur J. Burke & Paul S. Mishkin on the brief, Robert F. Wise, Jr., Davis Polk & Wardwell LLP, New York, NY.
Case number: 13-3565-cv (L)

Cite as: Gelboim v. BOA, 13-3565-cv, NYLJ 1202758483032, at *1 (2d Cir., Decided May 23, 2016) CASE NAME Ellen Gelboim et al., Plaintiffs-Appellants v. Bank of

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