In a recent development involving Sorrento Therapeutics, a federal judge in California has paused litigation brought by the company’s shareholders. This litigation, centered on racketeering allegations, has hit a roadblock following a Texas bankruptcy court’s decision that the shareholders lack the standing required to pursue these claims. The racketeering allegations revolve around a former attorney…
Quinn Emanuel Urquhart & Sullivan LLP has raised objections to a special master’s recommendation concerning the distribution of common benefit fees in the $6 billion settlement that concluded multidistrict litigation involving 3M’s allegedly defective combat earplugs. The firm argues that the suggested allocation undervalues the comprehensive scope and significant impact of their contributions. The firm’s…
The legal community is attentively watching lawyer David Lira as he testifies in a State Bar trial concerning the alleged misappropriation of client funds connected to the notorious lawyer, Thomas Girardi. Lira, formerly a partner at Girardi Keese, is accused of failing to oversee the appropriate distribution of settlement funds to clients victimized by the…
In a notable move within the legal industry, James Sprayregen, the former head of Kirkland & Ellis’s bankruptcy practice, is joining Paul, Weiss, Rifkind, Wharton & Garrison LLP. This announcement underscores the ongoing reshuffle among top-tier law firms as they strengthen their expertise in restructuring and insolvency matters. Sprayregen is widely recognized for his extensive…
Carlton Fields has recently made a strategic move in the ongoing litigation concerning the Miss America Organization’s bankruptcy proceedings. The law firm is seeking to intervene specifically to counter a request made by Miss America’s CEO and affiliated entities, which aims to exclude a Carlton Fields attorney from participating in an upcoming status conference. The…
In a recent development in the ongoing legal proceedings surrounding Miss America’s bankruptcy, law firm Carlton Fields has taken decisive action by filing a motion to intervene in the case. The firm’s intervention comes after the CEO of Miss America and associated companies sought to exclude a Carlton Fields attorney from a crucial status conference…
In a legal entanglement drawing attention from across the Texas legal community, EJS Investment Holdings LLC is urging a federal judge to dismiss attempts by former U.S. Bankruptcy Judge David Jones and others to terminate a proposed class action lawsuit. This lawsuit centers around allegations of a secret romantic relationship between Judge Jones and a…
The United States Trustee Program has raised concerns over legal fees billed by Weil, Gotshal & Manges LLP in the bankruptcy proceedings of All Year Holdings Ltd., a prominent New York City landlord. According to the Bloomberg Law report, the trustee’s objections focus on the billing rates and the number of hours claimed by the…
The U.S. Supreme Court has taken a stance against a restrictive rule implemented by a lower court, which penalized bankrupt debtors for not disclosing all potential assets to the bankruptcy court. In the recent decision of Keathley v Buddy Ayers Construction, the justices addressed the practice of “judicial estoppel” that led to the dismissal of…
The ongoing legal saga involving the Miss America Organization has taken a new turn, as its CEO recently petitioned a Florida federal court to exclude their former counsel, Carlton Fields, from participating in a status conference related to the pageant’s bankruptcy case. The request underscores the complicated dynamics of representation in high-stakes bankruptcy litigation. According…
The legal dispute involving the Miss America Organization has taken another turn as CEO Robin Fleming and the companies associated with the pageant have urged a Florida federal court to exclude their former legal counsel, Carlton Fields, from participating in an upcoming status conference. Fleming’s request comes as part of the ongoing litigation concerning the…
In a striking development, a Florida businessman embroiled in a $500 million legal battle over the ownership of the Miss America pageant has been hit with a $2.2 million sanction. The ruling was handed down after the court found that fraudulent documents were submitted in an attempt to advance the businessman’s claim of ownership and…
Gibson, Dunn & Crutcher LLP has announced the addition of Matthew Owen as a partner in its Washington, D.C., office. Owen will join the firm’s Litigation and Congressional Investigations Practice Groups, bringing extensive experience in complex commercial litigation, government investigations, and appellate matters. Prior to joining Gibson Dunn, Owen served as Majority Staff Director and…
The ongoing FTX litigation has taken another turn as parties locked in the bankruptcy proceedings face contentious disputes over the role of artificial intelligence. Plaintiffs have raised allegations concerning the misuse of AI tools, a development that could complicate efforts to reach a settlement among stakeholders. These claims have amplified the complexity of an already…
In a pivotal decision for venue disputes in bankruptcy proceedings, the Bankruptcy Court for the District of New Jersey has allowed Chapter 11 cases concerning Multi-Color Corporation and its affiliates to proceed in the District. This ruling is noteworthy for its analytical framework regarding “principal assets” under section 1408 of the Bankruptcy Code. The court’s…
In a week rich with legal activity, London’s courtrooms witnessed several significant developments that caught the attention of the legal community. Among these was the case involving the oldest Indian restaurant in the UK, Veeraswamy, which has launched an appeal against King Charles III’s property company. The restaurant is fighting to prevent its eviction, arguing…
In the bustling legal landscape of London, recent developments have caught the attention of legal professionals and observers alike. Among the notable cases, one involves the U.K.’s oldest Indian restaurant, which has launched an appeal against King Charles III’s property company to halt impending eviction proceedings. This legal battle underscores the ongoing tensions between historic…
The recent US Supreme Court ruling has introduced significant complexity for corporations seeking to exit pension plans. This decision, which redefines the calculation of withdrawal liabilities, has left businesses grappling with fluctuating costs and a heightened need for strategic planning. For entities with multiemployer pension plans, the financial implications are now less predictable and could…
The growth in head count at NLJ 500 law firms has experienced a notable slowdown, attributed to enduring economic and political constraints. In 2025, the number of attorneys expanded by 2.5%, a marked deceleration compared to a 5.5% increase the previous year. This shift reflects a more cautious approach in expanding legal teams, influenced by…
Vinson & Elkins, a prominent Houston-based law firm, is facing a legal malpractice lawsuit concerning its involvement in a Texas real estate transaction. The suit alleges that the firm provided negligent legal services, resulting in significant financial losses for the client. This case is not the first instance where Vinson & Elkins has encountered malpractice…
Paul Hastings LLP has reached a settlement in a bankruptcy fee dispute with a subsidiary of Johnson & Johnson, averting potential litigation over the legal costs incurred during the bankruptcy proceedings. The settlement resolves disagreements regarding the fees and expenses charged by the law firm while representing the J&J subsidiary. Details of the settlement remain…
A bankruptcy partner at Fox Rothschild LLP has been formally censured by the Supreme Court of New Jersey following the unauthorized disbursement of more than $2.7 million in legal fees. The attorney in question, whose practice was based in New Jersey, directed these funds to her former firms without securing the necessary approvals. This censure…
In a notable decision handed down by the Eleventh Circuit, the hip hop group 2 Live Crew’s attempt to recover copyrights to five of their albums faced a setback. The court ruled that despite most members seeking to terminate copyright grants to third parties, one member’s rights stayed within his bankruptcy estate. The decision highlights…
As the economic landscape evolves, the corporate world is witnessing a notable shift in how companies manage their financial obligations. Liability management, a lesser-known but increasingly vital financial practice, is gaining momentum as creditors begin to exercise more flexibility in their dealings with distressed companies. This change is fostering a dynamic market where top law…
In May, Massachusetts courts delivered several notable rulings with implications for legal professionals and businesses alike. These decisions touch upon areas ranging from financial agreements to jurisdictional issues. Here’s a summary of four key rulings you may have missed. One significant ruling affirms that a bankruptcy trustee has the authority to continue pursuing claims against…