LexisNexis® Legal Newsroom
Mealey's Bankruptcy - Kodak Creditors: Bankruptcy Court Lacks Jurisdiction To Hear Adversary Complaint

NEW YORK - Creditors in the Chapter 11 bankruptcy of Eastman Kodak Co. on March 26 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York, contending that the Bankruptcy Court lacks jurisdiction to hear and rule on the trustee's adversary complaint against them (In Re: Eastman Kodak Company, No. 12-10202, Chapter 11, S.D. N.Y. Bkcy.).

Mealey's IP/Tech - Federal Jury Awards $7.5 Million In Punitive Damages In MP3Tunes Case

NEW YORK - A federal jury empanelled before U.S. Judge William H. Pauley III of the Southern District of New York announced in court on March 26 that Capital Records Inc. and myriad recording industry co-plaintiffs are entitled to $7.5 million in punitive damages in connection with copyright infringement by the former music downloading site MP3Tunes LLC (Capitol Records Inc. et al. v. MP3Tunes LLC, No. 07-9931, S.D. N.Y.).

Mealey's Bankruptcy - Hawker Beechcraft: Claims Of More Than $7.4M Should Be Disallowed, Expunged

NEW YORK - Bankrupt Hawker Beechcraft Inc. on March 26 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to $7,403,701.85 in claims against the estate the debtor argues should be disallowed and expunged because they are "no liability claims" (In Re: Hawker Beechcraft Inc., No. 12-11873, Chapter 11, S.D. N.Y. Bkcy.).

Mealey's IP/Tech - Purported Facebook Co-Owner's Contractual, Fraud Claims Dismissed By Federal Judge

BUFFALO, N.Y. - A man claiming co-ownership of Facebook Inc. saw his claims against Facebook founder Mark Zuckerberg disposed of on March 25 when a judge in the U.S. District Court for the Western District of New York adopted a magistrate's recommendation to grant the defendants' dismissal motion (Paul D. Ceglia v. Mark Elliott Zuckerberg, et al., No. 10-cv-569, W.D. N.Y.).

Mealey's Banking & Finance - 2nd Circuit Panel Affirms Gupta Conviction On Insider Trading Claims

NEW YORK - A Second Circuit U.S. Court of Appeals panel on March 25 affirmed a federal district court's conviction of former Goldman Sachs Group Inc. Board of Directors member Rajat K. Gupta, ruling that Gupta's arguments on appeal lack merit (United States of America v. Rajat K. Gupta, No. 12-4448, 2nd Cir.; 2014 U.S. App. LEXIS 5452).

Mealey's PI/Product Liability - Justice Vacates Recommendation, Orders Defendant To Respond To Interrogatories

NEW YORK - New York statutes and asbestos case management orders provide for liberal discovery and require a defendant to respond to standard interrogatories and provide a corporate representative, a New York justice held March 25 in vacating a special master's recommendation (Ruth Vantosh and Harold Vantosh v. 3M Co., et al., No. 190439/12, N.Y. Sup., New York Co.).

Mealey's Securities/D&O Liability - 2nd Circuit Panel Affirms Gupta Conviction On Insider Trading Claims

NEW YORK - A Second Circuit U.S. Court of Appeals panel on March 25 affirmed a federal district court's conviction of former Goldman Sachs Group Inc. Board of Directors member Rajat K. Gupta, ruling that Gupta's arguments on appeal lack merit (United States of America v. Rajat K. Gupta, No. 12-4448, 2nd Cir.; 2014 U.S. App. LEXIS 5452).

Mealey's Toxic Tort/Environmental - Justice Vacates Recommendation, Orders Defendant To Respond To Interrogatories

NEW YORK - New York statutes and asbestos case management orders provide for liberal discovery and require a defendant to respond to standard interrogatories and provide a corporate representative, a New York justice held March 25 in vacating a special master's recommendation (Ruth Vantosh and Harold Vantosh v. 3M Co., et al., No. 190439/12, N.Y. Sup., New York Co.).

Mealey's Bankruptcy - MF Global SIPA Trustee Seeks Disallowance Of $3.3 Million In Claims

NEW YORK - The liquidation trustee for bankrupt MF Global Inc. (MFGI), the consumer investment branch of bankrupt MF Global Holdings Ltd. (MFGH), on March 25 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York seeking to expunge and disallow $3,303,526.30 in claims made against the MFGI bankruptcy estate (In Re: MF Global Inc., No. 11-2790, Chapter 11, S.D. N.Y. Bkcy.).

Mealey's Securities/D&O Liability - Shareholder: Bank Of America Directors, Officers Have Not Responded To Demand

NEW YORK - A shareholder in Bank of America Corp. told a federal court in New York on March 21 that the bank's board of directors has ignored her demand that they bring litigation against certain directors and officers regarding breaches of fiduciary duty and other claims (Chaile Steinberg v. Angelo Mozilo, et al., No. 14-cv-02023, S.D. N.Y.).

Mealey's PI/Product Liability - State Attorneys General Settle Marketing Violation Allegations With Drink Company

NEW YORK - New York Attorney General Eric T. Schneiderman on March 25 announced an agreement with an energy drink manufacturer to resolve allegations that it has marketed and sold flavored malt beverages in violation of consumer protection and trade practice statutes.

Mealey's Banking & Finance - 5 Former Madoff Employees Convicted For Roles In Massive Ponzi Scheme

NEW YORK - A federal jury on March 24 convicted five former employees of Bernard L. Madoff Investment Securities LLC (BLMIS) for their roles in perpetrating Madoff's massive Ponzi scheme (U.S. v. O'Hara, et al., No. 10-cr-0228, S.D. N.Y.).

Mealey's Securities/D&O Liability - 5 Former Madoff Employees Convicted For Roles In Massive Ponzi Scheme

NEW YORK - A federal jury on March 24 convicted five former employees of Bernard L. Madoff Investment Securities LLC (BLMIS) for their roles in perpetrating Madoff's massive Ponzi scheme (U.S. v. O'Hara, et al., No. 10-cr-0228, S.D. N.Y.).

Mealey's Bankruptcy - Residential Capital Trust: Third-Party Release Bars Claim Against Mortgage Broker

NEW YORK - The liquidating trust in the Chapter 11 bankruptcy of Residential Capital LLC (ResCap) on March 24 moved in the U.S. Bankruptcy Court for the Southern District of New York for an order enforcing an injunction against a third-party complaint against a mortgage broker working with ResCap's affiliate GMAC Mortgage on grounds that it is enjoined as a result of a third-party release (In Re: Residential Capital LLC, No. 12-12020, Chapter 11, S.D. N.Y. Bkcy.).

Mealey's Insurance - Federal Judge Grants Motion To Dismiss In Asbestos, Silica Coverage Dispute

NEW YORK - A New York federal judge on March 20 granted a motion to dismiss filed by six insurers after determining that the insurer that impleaded the six insurers failed to state a claim upon which relief could be granted (Danaher Corp. v. Travelers Indemnity Co., et al., No. 10-0121, S.D. N.Y.; 2014 U.S. Dist. LEXIS 37657).

Mealey's PI/Product Liability - New York Jury Awards $12.5M, Defense Verdict To 3 In Consolidated Asbestos Trial

NEW YORK - A New York jury on March 18 awarded three widows a combined $12.5 million on their consolidated asbestos claims while also handing down three defense verdicts (Mary Anne McCloskey, et al. v. A.O. Smith Water Products, et al., No. 190441-12, Phyllis Brown, et al. v. A.O. Smith Water Products, et al., No. 190415/12, Debra Terry, et al. v. A.O. Smith Water Products, et al., No. 190403-12, N.Y. Sup., New York Co.).

Mealey's Labor & Employment - New York Federal Judge Dismisses Dispute Over Payment Of Health Care Services

NEW YORK - A New York federal judge on March 19 denied a plaintiff's motion to remand a breach of contract dispute over payment for home health care services and instead dismissed the suit, saying that the Employee Retirement Income Security Act preempted the plaintiff's claim, which really was for "right of payment" and not "amount of payment" (Star Multi Care Services Inc. v. Empire Blue Cross Blue Shield, et al., No. 13-1138, E.D. N.Y.; 2014 U.S. Dist. LEXIS 36287).

Mealey's Insurance - New York Federal Judge Dismisses Dispute Over Payment Of Health Care Services

NEW YORK - A New York federal judge on March 19 denied a plaintiff's motion to remand a breach of contract dispute over payment for home health care services and instead dismissed the suit, saying that the Employee Retirement Income Security Act preempted the plaintiff's claim, which really was for "right of payment" and not "amount of payment" (Star Multi Care Services Inc. v. Empire Blue Cross Blue Shield, et al., No. 13-1138, E.D. N.Y.; 2014 U.S. Dist. LEXIS 36287).

Mealey's Toxic Tort/Environmental - Judge Halts Enforcement Of New York Ban On Tobacco Coupons, Discounts

NEW YORK - New York City's ban on cigarette discounts and coupons was postponed for at least two months by a March 19 federal court ruling that gives the city time to promulgate rules and allows the parties to cross-move for summary judgment (National Association of Tobacco Outlets, Inc. et al v. City of New York et al., No. 1:14-cv-00577, S.D. N.Y.).

Mealey's IP/Tech - 'Twilight' Trademark Infringement Counterclaims Won't Be Dismissed

NEW YORK - The producer and distributor of the popular "Twilight" film series may proceed with allegations that a retailer infringed the "Twilight" trademarks with its "Twilight Woods" and "Twilight Crush" personal care products, a New York federal judge ruled March 21 (Bath & Body Works Brand Management Inc. v. Summit Entertainment LLC, No. 11-1594, S.D. N.Y.; 2014 U.S. Dist. LEXIS 37700).

Mealey's Health Law - New York Federal Judge Dismisses Dispute Over Payment Of Health Care Services

NEW YORK - A New York federal judge on March 19 denied a plaintiff's motion to remand a breach of contract dispute over payment for home health care services and instead dismissed the suit, saying that the Employee Retirement Income Security Act preempted the plaintiff's claim, which really was for "right of payment" and not "amount of payment" (Star Multi Care Services Inc. v. Empire Blue Cross Blue Shield, et al., No. 13-1138, E.D. N.Y.; 2014 U.S. Dist. LEXIS 36287).

Mealey's Toxic Tort/Environmental - New York Jury Awards $12.5M, Defense Verdict To 3 In Consolidated Asbestos Trial

NEW YORK - A New York jury on March 18 awarded three widows a combined $12.5 million on their consolidated asbestos claims while also handing down three defense verdicts (Mary Anne McCloskey, et al. v. A.O. Smith Water Products, et al., No. 190441-12, Phyllis Brown, et al. v. A.O. Smith Water Products, et al., No. 190415/12, Debra Terry, et al. v. A.O. Smith Water Products, et al., No. 190403-12, N.Y. Sup., New York Co.).

Mealey's Insurance - Reinsurers: Insurer Should Be Compelled To Arbitrate Agreements It Did Not Sign

NEW YORK - Two reinsurers asked a New York state court on March 19 to compel an insurer to arbitrate certain disputes because the insurer is purported to have replaced the original insurers involved in a number of reinsurance agreements (Transatlantic Reinsurance Company, et al. v. National Indemnity Company, No. 650880/2014, N.Y. Sup., New York Co.).

Mealey's Banking & Finance - Judge Awards Attorney Fees In Debt Collection Consumer Class Action

BROOKLYN, N.Y. - A federal judge in New York on March 18 granted a consumer's motion for attorney fees and costs but cut the requested fee amount by 30 percent after finding that the submitted time spent on the action was excessive (Gina Tito v. Rubin & Rothman LLC, et al., No. 12-3464, E.D. N.Y.; 2014 U.S. Dist. LEXIS 35553).

Mealey's Bankruptcy - Company Seeks OK To Sell Vehicle Assets For $526,242

NEW YORK - Bankrupt Metro Affiliates on March 20 moved in the U.S. Bankruptcy Court for the Southern District of New York for authority to sell some of its vehicle assets for $526,242 (In Re: Metro Affiliates, No. 13-13591, Chapter 11, S.D. N.Y. Bkcy.).