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By convincing the Second Circuit to hear AIG's appeal of a judge's refusal to remand its case against Bank of America to state court, Quinn Emanuel may have sparked a jurisdictional battle that could play out two coasts--with huge implications for both sides.
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Summer associates of 2008 loved their taste of law firm life. If only they could be sure about those offers.The stakes just got higher for Bank of America, which is fighting a multi-billion dollar case stemming from mortgage fraud at Taylor, Bean & Wittaker. Manhattan U.S. District Judge Robert Sweet has allowed plaintiffs BNP Paribas and Deutsche Bank, which bought a total of $1.68 billion in notes issued by a TBW affiliate, to add additional claims.
Plaintiffs lawyers at Scott + Scott managed to avoid dismissal, but things might have gone very differently for the banks if not for a pair of rulings earlier this year favoring mortgage-backed securities investors in separate suits against Goldman Sachs and Bank of New York Mellon.
Facing a multibillion-dollar fraud suit by AIG, Bank of America has lost a creative bid to keep part of the action in federal court. The Second Circuit on Friday vacated an earlier ruling which found that an obscure 1919 federal law allowed the case to be heard in U.S. district court.
We've said it before and we'll say it again. Who knew that Nash Bridges, Don Johnson's post-Miami Vice TV series about a cop in San Francisco, was a smash hit worth more than $300 million? A Los Angeles jury, after a two-week trial, agreed with Johnson and his Kirkland lawyers that he co-created the show and deserves a cut of its profits.
Quinn Emanuel and Paul Hastings helped Zynga Game Networks take the offensive Friday in a closely watched legal battle with rival Electronic Arts Inc. But they also spent the day cleaning egg off their faces, after tech-savvy journalists pointed out that they did a lousy job at redacting confidential material.
In the seemingly never-ending saga of Rambus's patent war against chip makers, Rambus was slapped hard on Friday by a Delaware federal district court judge, who accused the company of conduct that was "obstructive at best."
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