Shout-Out: Skadden Succeeds, Times Two
Skadden litigators scored a pair of wins last week.
March 06, 2018 at 12:10 PM
2 minute read
Here's something you don't often see: a journalist sues a billionaire for libel.
But that's exactly what Skadden, Arps, Slate, Meagher & Flom client Hu Shuli, the current editor-in-chief of Caixin Media, did in a nasty spat with Chinese billionaire businessman Guo Wengui.
It's one of two impressive wins for Skadden lawyers last week.
Hu published an investigative report on Guo in 2015. She says he responded with social media posts alleging, for example, that she had an extramarital affair, bore an illegitimate child and abused drugs. He also allegedly published her personal credit card statement on Facebook and Twitter.
Alleging libel, libel per se, trade libel and intentional infliction of emotional distress, Hu sued in New York state court. On Feb. 26, Justice Gerald Lebovits refused to dismiss the case. The court also found that the complaint adequately alleged malice, as Guo's statements were allegedly made in retaliation for Caixin's reporting on Guo's business dealings in China. The judge greenlighted the emotional distress claims as well.
The New York-based team includes partner Anthony Dreyer and associates Andrew Green, David Lamb and Sarah Baugh.
Skadden lawyers also got a securities action in the Southern District of New York against Beijing-based NQ Mobile dismissed with prejudice. The plaintiffs alleged the company and some of its officers made affirmative misstatements about NQ's value and failed to disclose material facts relating to NQ's corporate acquisition strategy.
U.S. District Judge Naomi Reice Buchwald on Feb. 27 tossed the case—which was on its fifth amended complaint—with prejudice.
Skadden New York partners Scott Musoff, Rob Fumerton and Jay Kasner, and Hong Kong-based partner Bradley Klein led the team.
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