Corporate Law

Middleman Pleads Guilty in $34M Insider-Trading Case, Says Lawyer Stole Info from 4th BigLaw Firm

A man accused of being a middleman in an alleged insider-trading operation that prosecutors say reaped some $34 million in illegal profits over a 17-year period pleaded guilty yesterday in federal court in Newark, N.J., to one count of conspiracy to commit securities fraud and two counts of securities fraud.…

Apr 12, 2011 10:33 AM CDT

UK Attorney Says Tabloid Hacked Up to 7,000 People’s Phone Messages; Big-Bucks Cases Expected

A tabloid newspaper in the United Kingdom could be exposed to as much as $70 million in potential damages claims after hacking into voicemail messages for as many as 7,000 people between 2004 and 2006, according to a plaintiff’s lawyer and other observers. Charlotte Harris, a partner at Mishcon de…

Apr 11, 2011 2:37 PM CDT

Accused Middleman ID’d, Expected to Plead in Alleged Insider Info Theft By BigLaw Attorney

A middleman who allegedly passed confidential merger and acquisition information from a BigLaw attorney to a trader involved in a $109 million insider-trading scheme is expected to plead guilty as early as today to charges of conspiracy and securities fraud, reports the Wall Street Journal (sub. req.), relying on unidentified…

Apr 11, 2011 10:02 AM CDT

Ex-Gucci IT Worker Is Criminally Charged re Alleged Post-Firing $200K Computer Rampage

Fired by Gucci America Inc., a former network employee allegedly retaliated by using his knowledge of the luxury retailer’s computer system to wreak havoc. Sam Chihlung Yin, 34, is now being prosecuted by the Manhattan District Attorney’s office, accused of creating a virtual private network token in a fictitious employee’s…

Apr 6, 2011 5:46 PM CDT

Hackers Penetrated at Least 4 Major Canadian Law Firms in Recent Months, Expert Says

Sophisticated hackers seemingly based in China have penetrated four major Canadian law firms in a little over six months, in attacks intended to destroy sensitive data or obtain information related to mergers and acquisitions, a security expert tells the Globe and Mail. While it isn’t certain the hackers’ efforts were…

Apr 5, 2011 11:40 PM CDT

Federal Judge Axes $625.5M Patent Award Against Apple, Says Mirror Worlds Didn’t Prove Case

A federal judge in Tyler, Texas, has axed a $625.5 million jury award against Apple Inc., saying that plaintiff Mirror Worlds didn’t prove its case. One of the largest patent infringement awards ever made, the verdict concerned software for Apple mobile devices that allegedly made illegal use of patented technologies,…

Apr 5, 2011 9:20 PM CDT

Amidst News of Massive Data Breach, Suit Says Condé Nast Sent $8M in Response to Scam Email

Amidst news today that a widespread spear-phishing campaign could follow a giant security breach that exposed millions of individual e-mail addresses comes word that it isn’t just unsophisticated small fry who can be tricked by such schemes. Relying on a seemingly legitimate e-mail saying that payment should be sent to…

Apr 5, 2011 12:10 AM CDT

FDA Introduces Proposed New Regs Requiring Calorie Counts on Chain Restaurant Menus

The Food and Drug Administration today released proposed new regulations concerning calorie counts that chain restaurants nationwide will be required to list for their menu items under a new health care law enacted last year. Convenience stores, supermarkets and vending machine owners also will be required to comply with the…

Apr 1, 2011 9:26 PM CDT

Reed Smith Offers Free GC Hotline to Answer Questions of Clients’ Top In-House Lawyers

When a top in-house lawyer is deciding how to approach an unusual problem, it might well be helpful to talk with a seasoned counterpart. But even for a corporation’s general counsel, deciding who to call and wondering how much the session might cost can be daunting. Apparently sensing a marketing…

Apr 1, 2011 9:07 PM CDT

Exxon Mobil’s Dispute with Venezuela Has Global Implications

Exxon Mobil Corp. has been involved in some pretty big lawsuits. The oil giant has been regularly painted as the bad guy in connection with events like the 1989 Exxon Valdez oil spill off the Alaskan coast and states’ claims that it has stolen billions of dollars in mineral rights…

Apr 1, 2011 7:40 AM CDT

Feds Ponder Possible Manslaughter and Perjury Charges in Gulf Oil Spill Case, Sources Tell AP

Department of Justice officials investigating the massive oil spill nearly a year ago in the Gulf of Mexico are considering possible perjury and manslaughter charges. However, unidentified sources also caution that the probe is not complete and that criminal charges, while possible, are far from certain, reports the Associated Press.…

Mar 29, 2011 9:30 PM CDT

Reports: Supremes Skeptical About Allowing Massive Wal-Mart Class Action to Proceed

Whether to allow the largest class action sex-discrimination case ever, against Wal-Mart Stores Inc., to go forward was argued before the U.S. Supreme Court today. And, although the New York Times said the justices seemed evenly divided on the question, other news stories reported that they were skeptical about allowing…

Mar 29, 2011 7:56 PM CDT

Summer Associate’s Difficult Decision: Corporate or Litigation?

A soon-to-be summer associate struggling with a decision over practice areas has written a career columnist for advice. The dilemma, presented to the Careerist: Does corporate law or litigation offer better opportunities? The Careerist checked in with two recruiters for advice. Matt Schwartz of Garrison & Sisson saw better in-house…

Mar 29, 2011 1:13 PM CDT

New ADA Regs Could Lead to More Disability Class Actions

Workers would get more expansive protections for disabilities under final regulations released Friday that interpret 2008 amendments to the Americans with Disabilities Act. One byproduct of the new regulations could be more ADA class actions, according to a Lexology article by Seyfarth Shaw attorneys Condon A. McGlothlen and Tracy M.…

Mar 29, 2011 10:30 AM CDT

Martin Sheen Testifies for James Marshall in Suit Seeking $11M from Maker of Acne Drug Accutane

Actor Martin Sheen testified via a video hookup from California today in a New Jersey trial in which actor James Marshall is seeking $11 million from the maker of the acne drug Accutane. Marshall, 44, who played the role of Louden Downey in the movie A Few Good Men had…

Mar 25, 2011 12:16 AM CDT