By Jeffrey A. Galant | December 24, 2024
The author writes "While being careful to dot their “i’s” and cross their “t’s” with respect to the complicated rules of section 1256 of the Internal Revenue Code, this attention to detail only took the Wrights so far in their quest to offset substantial capital gains that they had realized in 2002. They apparently gave little thought to section 165(c)’s limitation on an individual’s ability to deduct losses. More about this shortly."
By Abigail Adcox | December 23, 2024
Paul, Weiss, Rifkind, Wharton & Garrison, Fenwick & West, Goodwin Proctor, Sidley Austin, among other firms are advising clients wrapped up in settlements or charges the SEC announced this past week.
By Andrew Denney | December 23, 2024
Last week, Mayor Eric Adams took part in a perp walk for the suspected killer of UnitedHealthcare CEO Brian Thompson.
By Brian Lee | December 23, 2024
A bill sponsor, Sen. Brad Hoylman-Sigal, D-Manhattan, indicated he will continue to advocate for the proposal in Albany, even after its third veto. The measure aims to modernize New York's 177-year-old wrongful death statute.
By Jenna C. Smith and Adam R. Shaw | December 23, 2024
The authors write "This column discussed recent noteworthy decisions of the U.S. District Court for the Northern District of New York. This installment explores two recent decisions involving the Telephone Consumer Protection Act. In the first decision, Chief U.S. District Court Judge Brenda K. Sannes denied a defendant’s motion to strike class allegations as premature, on the basis that these arguments would be more appropriate to address at the class certification stage. In the second decision, District Court Judge Anne M. Nardacci addressed similar arguments at the class certification stage, eventually granting a motion to certify a damages class under Rule 23(b)(3)."
By Corinne Ball | December 23, 2024
The author writes "This fall, the bankruptcy court extended the preliminary injunction for the thirty-seventh time and overruled an objection by the State of Maryland. Maryland subsequently appealed. Notably, in her prior rulings Judge McMahon correctly assessed Chapter 11 does not authorize releases of third parties, absent the consent of the affected claimholders, as determined and confirmed by the Supreme Court in Harrington v. Purdue Pharma L.P., 144 S. Ct. 2071 (2024)."
By Samson Amore | December 23, 2024
“I have zero doubt that there are going to be restrictions on business immigration,” said Kramer Levin Naftalis & Frankel immigration co-chair Mark Koestler.
By Peter A. Crusco | December 23, 2024
The author writes "It’s been over 250 years since a group of colonists, known as 'the Sons of Liberty,' disguised as Indians sneaked aboard three British tea ships and dumped their treasure of tea into the Boston harbor. The 'Boston Tea Party,' was a protest to British Parliament’s onerous tax levies which did great financial harm to the early Americans and their fledgling business enterprises and resulted in Britain’s retaliatory passage of the Intolerable Acts of 1774."
By Greg Andrews | December 23, 2024
James Blose's decade-long scheme went undetected at banks in Pennsylvania and New York before a bank in Connecticut caught him last year.
By Mark Berman and Nicole D. Case | December 23, 2024
The authors write "With the continued rise of new tools and technologies, legal professionals are seeking new ways to optimize tasks in an effort to be more efficient. One of the more common recent technologies used by professionals is the integration of tools such as DocuSign, allowing for the facilitation of quick and easy electronic signatures."
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