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New York Law Journal

Preclusion in Derivative Litigation

Corporate Litigation columnists Joseph M. McLaughlin and Shannon K. McGovern write: A recent Delaware Supreme Court en banc decision has ended uncertainty in Delaware and potentially elsewhere introduced when two Court of Chancery decisions urged that a longstanding derivative preclusion rule violates due process.
9 minute read

Daily Business Review

FINRA Accuses High-Profile Miami Broker of Misleading Arbitration Panel

The Financial Industry Regulatory Authority alleges broker Patrick Dwyer improperly used arbitration to get client complaints expunged from his record after losing litigation in California.
3 minute read

Litigation Daily

Daily Dicta: Au Pairs of the World, Unite; The Check is (Not) in the Mail

A class action by Boies Schiller Flexner claiming au pairs are underpaid has cleared another major hurdle; The latest setback for a Baker McKenzie client who has been trying since 2014 to get paid after an arbitration panel in London awarded him $84 million.
7 minute read

Litigation Daily

Mel Weiss, Hero and Villain of Plaintiffs Bar, Dies at 82

Melvyn Weiss, the co-founder of now-defunct Milberg, Weiss, Bershad, Hynes & Lerach, died in his sleep on Feb. 2 at the age of 82, his son's law firm, Seeger Weiss announced on Friday.
5 minute read

New York Law Journal

Hedge Fund Manager Claiming to Be Genovese Drug Store Heir Arrested for Fraud

Nicholas Genovese lied about his education and work experience in the financial industry to dupe investors into entrusting him with millions.
3 minute read

Daily Business Review

​Accused EB-5 Visa Fraud Organizer Reaches $84 Million SEC Settlement

​The Securities and Exchange Commission reaches settlements with the owner and president of Vermont's Jay Peak ski resort.
4 minute read

New York Law Journal

PricewaterhouseCoopers Settles Securities Claims in Petrobras Suit for $50M

The settlement is the latest win in the suit against the Brazilian energy giant.
2 minute read

New York Law Journal

DFS Claims Bank of Tokyo's Regulator Swap Was Unlawful

The Department of Financial Services Superintendent Maria Vullo questioned the legality of the Tokyo lender's charter conversion in a filing against the Bank of Tokyo-Mitsubishi UFJ Ltd. on Wednesday.
3 minute read

Litigation Daily

Daily Dicta: A Rotating Carousel of What?

Fat Leonard allegedly enticed Navy officers with money plus fancy dinners, hotel rooms and—to quote the indictment— “a rotating carousel of prostitutes.” Alas, the merry-go-round is metaphorical. But is this good legal writing or bad?
7 minute read

The American Lawyer

2017 Saw Dip in Securities Class Settlements

Settlement values for securities class actions and the legal fees they produced dropped to levels not seen since the early 2000s, according to a new report.
5 minute read

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