With the fall semester of law school approaching, incoming students are confronted with a pressing question: how to spend the remaining summer weeks? While some advocate for enjoying the fleeting moments of freedom, others suggest proactively preparing for the academic challenges ahead. Steven Chung, a tax attorney, provides several practical recommendations. Chief among them is…
The New York State Bar Association’s (NYSBA) tax section has recently petitioned the IRS and Treasury Department to reconsider newly issued guidance that imposes stricter conditions on tax-free spinoffs. Released in May, this guidance, encapsulated in Revenue Procedure 2024-24, has been criticized by legal experts for rendering the process unmanageable for businesses looking to restructure…
In a ruling from the U.S. District Court for the Southern District of New York, federal judge Lewis A. Kaplan approved a 45-day delay for former FTX Digital Markets Ltd. executive Ryan Salame to commence his 90-month prison sentence. The deferment was granted after Salame suffered a facial mauling by a German Shepherd. According to…
Insys Therapeutics Inc. founder John Kapoor, convicted in 2019 of racketeering conspiracy, has been ordered to return approximately $5.9 million that the now-bankrupt company advanced to him for his criminal defense. In a final judgement issued Tuesday, Judge Gregory B. Williams of the US District Court for the District of Delaware sided with liquidating trustee…
A UK High Court ruled on Monday that a ban on the prescription and sale of puberty blockers for individuals under the age of 18 experiencing gender dysphoria is lawful. This decision comes following a legal challenge by TransAction, an advocacy organisation for transgender healthcare and legal protections, and an anonymous transgender young person. They…
A recent legal development involves the temporary suspension of a judge who has been sidelined without pay for a duration of 30 days. Judge Reeves acknowledged his errors and expressed a willingness to learn from them, according to his counsel S. Lester Tate III of Akin & Tate in Cartersville. Tate remarked, “Judge Reeves is…
A Lloyd’s of London syndicate is pushing to unseal a complaint by Cadwalader Wickersham & Taft LLP that seeks coverage for a data breach occurring in November 2022. The syndicate argues that it was not given a chance to oppose the sealing and that the firm has not sufficiently justified why the case details should…
In a notable pivot, Vinson & Elkins LLP is seeking a narrower role in Enviva Inc.’s ongoing bankruptcy case. This comes after Judge Brian F. Kenney of the US Bankruptcy Court for the Eastern District of Virginia barred the firm from acting as the primary debtors’ counsel, citing conflicts of interest due to its existing…
An agricultural firm has filed a lawsuit in Ohio federal court against a former employee, alleging misconduct that involved redirecting over a dozen clients. According to the complaint, the ex-employee told these clients he was “putting off” selling products and services while preparing to transition to a direct competitor of the company. He then allegedly…
Business Moguls Urge Harris to Dump Biden’s FTC Chair Lina Khan In a significant development within the business and political arena, LinkedIn co-founder Reid Hoffman and media magnate Barry Diller have publicly called on Vice President Kamala Harris to remove Lina Khan from her position as Chair of the Federal Trade Commission (FTC), should Harris…
Greenberg Traurig LLP has enhanced its litigation and intellectual property and technology practices by bringing on board a shareholder who formerly served as the managing partner of Michelman & Robinson LLP’s Dallas office. This strategic hire is expected to strengthen Greenberg Traurig’s capabilities in these critical areas. Further details on this development can be accessed…
The Federal Trade Commission (FTC) reached a $43.5 million settlement with a for-profit online education group just one day after filing a false advertising lawsuit. The settlement, announced after the suit was filed on Monday, involves student debt relief and refunds. The education institution in question, headquartered in Georgia, faced allegations of misleading consumers. For…
Term Limits Aren’t Enough. The Supreme Court Needs More Justices Alexander Hamilton’s famous description of the US Supreme Court in Federalist 78 as the “least dangerous branch” was proven wrong soon after it was written. In 1803, the court claimed the power to strike down laws without any constitutional authority in Marbury v. Madison—a constitutional…
Three California residents’ claims alleging that Lasko Products Inc. made misleading statements about the efficacy of its GermGuardian air purifiers have been dismissed by a federal judge. The plaintiffs failed to sufficiently demonstrate that Lasko’s marketing statements were false or deceptive. As a result, the class action aimed at addressing these purported discrepancies will not…
Thousands of Venezuelans took to the streets on Tuesday over doubts about the results of Sunday’s elections as Nicolás Maduro was declared the elected president by the National Electoral Council (NEC). Protesters gathered in various parts of the capital and other cities across the country, denouncing what they consider to be electoral fraud. The main…
In an unorthodox move, Jones Day incorporated a Kamala Harris meme into their latest Supreme Court filing, attempting to inject a touch of humor into an otherwise grave environmental litigation. Their client, NACCO Natural Resources Corporation, is challenging an Environmental Protection Agency (EPA) rule that mandates carbon capture and sequestration technology, aimed at achieving a…
Above the Law is once again calling on in-house attorneys to participate in its annual compensation survey. This initiative aims to gather comprehensive data for the 2024 fiscal year, culminating in a report that serves as a critical benchmarking tool for legal professionals across various sectors. By participating in this brief survey, in-house lawyers can…
Rudolph Giuliani has entered into an agreement to pay $100,000 in cash upfront, along with proceeds from the future sales of his multi-million dollar properties, in order to settle administrative bankruptcy fees and officially conclude his Chapter 11 bankruptcy case. This arrangement follows an agreement reached with his largest creditors, which outlines the terms for…
Meta says it configured its AI chatbot to avoid answering questions about the Trump rally shooting in an attempt to avoid distributing false information, but the tool still ended up telling users that the shooting never happened. "Rather than have Meta AI give incorrect information about the attempted assassination, we programmed it to simply not…
The United Nations Assistance Mission in Afghanistan (UNAMA) has published a report concerning human rights violations within the country, detailing cases of arbitrary arrest, torture, and extrajudicial killings of former government officials. The report, covering the period from April to June 2024, was compiled by UNAMA’s Human Rights Service. UNAMA’s latest findings indicate “at least…
Last month, KKR, a major global investment firm, announced that it had entered into an agreement to acquire a majority stake in Agiloft, the contract lifecycle management company. As part of the deal, the growth equity firm FTV Capital, already an Agiloft investor, is making an additional investment, and another growth equity firm, JMI Equity,…
Companies reconsidering the merits of staying public are driving a notable rise in take-private deals, as noted by Melissa Sawyer, the global head of Sullivan & Cromwell’s mergers and acquisitions group. The burdens of public company requirements, including costly regulatory compliance, quarterly reporting, and activist shareholder pressures, are contributing factors. According to Sawyer, companies often…
President Joe Biden’s nomination of Ryan Park as North Carolina solicitor general for the US Court of Appeals for the Fourth Circuit has intensified the debate over the role of home-state senators in selecting federal circuit court nominees. The criticism largely stems from Senate Judiciary member Sen. Thom Tillis (R-N.C.), who expressed frustration on Wednesday,…
Few things dampen the excitement of graduating law school quite like the realization that a bar exam prep course likely awaits. Traditionally, law graduates face an arduous preparation period after graduation to activate their degrees fully. However, the National Conference of Bar Examiners (NCBE) is offering a lucrative opportunity to change that narrative. According to…
A recent survey by LexisNexis indicates that 90% of legal executives at major law firms and Fortune 1000 companies expect their investment in Generative Artificial Intelligence (Gen AI) technologies to increase over the next five years. Nearly half (53%) of Law360® Leaderboard Pulse firms have already adopted Gen AI tools, which underscores the rapidly growing…