The common train of thought when litigating as an out-of-state defendant is that it is best to be venued in federal court so as to eliminate any advantage an in-state plaintiff might have with a local jury. Typically, foreign companies will seek to remove state court actions filed by local plaintiffs to federal court under
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New York Whistleblower Suit Results in $105 Million From Hedge Fund Manager Who Evaded Taxes
A White Collar Criminal Defense alert by Rachel Maimin, Kathleen McGee, and Carly Coleman discusses the $105 million settlement that New York State and New York City recently received from a hedge fund manager accused of evading tax liability. This settlement results from a qui tam suit filed in 2018 under the New…
Citibank’s $900 Million Black Swan
On February 16, Judge Furman of the Southern District of New York handed down a ruling in In re Citibank August 11, 2020 Wire Transfers concluding that Citibank could not recover $900 million inadvertently wired to lenders.
The entire 105-page decision[1] is a fascinating read, describing a near-perfect storm of convoluted financial arrangements, technological…
Petco Cyberattack Serves as Useful Reminder of Best Practices for Preventing Data Breach
A putative consumer class action filed in California state court on Friday the 18th against Petco Animal Supplies Stores Inc. (Petco) and its wholly owned subsidiary PupBox Inc. (PupBox) alleges that between February and August an “unauthorized plugin” on the PupBox website caused the personal and credit card information of approximately 30,000 consumers to be…
In Memoriam: Paul Spyros Sarbanes (1933-2020)
Senator Paul S. Sarbanes passed away peacefully on the evening of December 6, 2020, according to a statement released by the office of his son, U.S. Representative John Sarbanes (D-Md.).1
Sarbanes will be best remembered by most Americans for the landmark Sarbanes-Oxley Act of 2002,2 which sought to improve transparency and accountability for…
Verdict in First SDNY White-Collar Jury Trial Since Start of Pandemic
A recent alert by Jamie Gottlieb Furia in Lowenstein Sandler’s White Collar Criminal Defense practice discusses the jury’s verdict against two former MiMedx Group Inc. executives for their involvement in an alleged fraud scheme. The three-week trial before U.S. District Judge Jed Rakoff marked the first white-collar jury trial in the Southern District of New…