Brad S Karp

January 24, 2023 | New York Law Journal

Taken together, the Supreme Court's decision in 'Kelly' and the Second Circuit's decision in 'Blaszcazk II' make it clear that the government is constrained when prosecuting insider trading cases where individuals have misappropriated government information that, although confidential, has no direct economic value to the government.

By Martin Flumenbaum and Brad S. Karp

7 minute read

December 27, 2022 | New York Law Journal

Circuit Judges Michael H. Park, Rosemary S. Pooler, and Eunice Lee unanimously concluded that the claims asserted by a plaintiff who traded on a U.S.-based exchange were nevertheless impermissibly extraterritorial because they were based on "predominantly foreign conduct," i.e., the bank defendants' allegedly fraudulent submissions to the foreign organizations that set the relevant benchmark rates.

By Martin Flumenbaum and Brad S. Karp

8 minute read

November 22, 2022 | New York Law Journal

The Second Circuit articulated a new categorical application of the "purchaser-seller" rule, furthering a 70-year-long trend toward a narrower class of Rule 10b-5 plaintiffs.

By Martin Flumenbaum and Brad S. Karp

7 minute read

October 25, 2022 | New York Law Journal

The Second Circuit's 'Cantero' decision clarifies the preemptive scope of the National Bank Act: If a state law purports to control an enumerated or incidental power of a national bank, then it is preempted by the NBA regardless of its impact on a bank's revenues or management.

By Martin Flumenbaum and Brad S. Karp

8 minute read

September 27, 2022 | New York Law Journal

Overall, the Court issued opinions in 66 cases, four of which arose out of the Second Circuit. The Supreme Court reversed in all four of those cases, but the Second Circuit was not an outlier in that respect.

By Martin Flumenbaum and Brad S. Karp

9 minute read

August 23, 2022 | New York Law Journal

The court's decision in 'Pikus' is the most recent entry in a line of decisions where the Second Circuit has strictly enforced the provisions of the Speedy Trial Act.

By Martin Flumenbaum and Brad S. Karp

8 minute read

July 26, 2022 | New York Law Journal

As a result of its recent holding in 'Rio Tinto', the Second Circuit has preserved two main arguments for companies facing securities lawsuits under §10(b).

By Martin Flumenbaum and Brad S. Karp

7 minute read

June 21, 2022 | New York Law Journal

The Second Circuit reversed the district court's grant of habeas corpus, finding that the trial judge's closing of the courtroom to the public for approximately 15 minutes, during a nine-week trial, did not violate defendant's right to a public trial as guaranteed by the Sixth Amendment.

By Martin Flumenbaum and Brad S. Karp

7 minute read

May 24, 2022 | New York Law Journal

The court in 'Cornelio' emphasized that it is the government's burden to demonstrate that a challenged law furthers important governmental interests, that it is narrowly tailored, and warned district courts not to supply a justification that the government fails to provide.

By Martin Flumenbaum and Brad S. Karp

7 minute read

April 26, 2022 | New York Law Journal

The Second Circuit has issued a strong reminder to agencies that the APA sets forth a high legal and procedural standard with which the agencies' immigration decisions must comport.

By Martin Flumenbaum and Brad S. Karp

8 minute read