Gibson Dunn's Brian Lutz

Litigator of the Week: Brian Lutz of Gibson, Dunn & Crutcher

By Scott Flaherty |

By going on the offensive for client Depomed, Lutz helped bring an abrupt end to a $1.75 billion hostile takeover bid.

Morning Mashup: Morgan Stanley Takes One to the Jury; White’s ‘Earth to Mary Jo’ Moment

By Jenna Greene |

For the first time in a decade, Morgan Stanley tried a case to verdict in front of a real, live jury. What happened? Also, results from Alix's litigation survey; SEC head Mary Jo White gets personal; and a letter to the editor.

Litigator of the Week: Steven Thomas of Thomas, Alexander & Forrester

By Scott Flaherty |

The Sullivan & Cromwell partner turned plaintiffs lawyer says a verdict he won against Ernst & Young may be his most significant yet.

Darren Robbins.

HCA to Pay $215M in Latest Big Securities Class Settlement

By Jenna Greene |

For the first six months of the year, it looked like securities class actions were in the doldrums. But since June 30, there’s been a series of big-ticket settlements in cases brought by Robbins Geller Rudman & Dowd. The latest: a $215 million payout by HCA.

Cure Cancer? Nah, Let’s Just Sue Each Other

By Jenna Greene |

Corporate disputes are often dry, bloodless things, but every once in a while, a case comes along with enough drama, scheming and betrayal to be worthy of a soap opera. That’s what happened last week in a fight over control of Genelux Corp., a privately held company with a mission to cure cancer.

What a Week for Laterals—A Look at the Most Interesting Moves

By Jenna Greene |

Conventional wisdom has it that the fourth quarter is slow for lateral moves—partners are supposed to hunker down and wait for the end of the year. But in the past week, we at the Lit Daily have been struck by a number of notable lateral moves. Here's a look at the most interesting among them, and what they tell us about the market.

A Credit Agricole bank branch in Nice, France, on Wednesday, Sept. 14, 2011.

When a $787M Penalty Is a Good Outcome

By Jenna Greene |

Even for a bank, $787 million is a big penalty. But in many ways, the deal that lawyers from Skadden, Arps, Slate, Meagher & Flom on Tuesday secured for Crédit Agricole SA for sanctions violations was a good one. How does it stack up compared to what Sullivan & Cromwell negotiated for BNP Paribas last year?

Shout-Out: Foley Wins Dismissal in Case That Could Reshape Shareholder Suits

By Jenna Greene |

In a case that could offer a template for other companies looking to cut off shareholder class actions, lawyers from Foley & Lardner secured dismissal with prejudice last week of a suit against Emergent Capital Inc. in Florida federal court.

Shout Out: Skadden Racks Up Four Wins in 48 Hours

By Jenna Greene |

Securities litigators at Skadden, Arps, Slate, Meagher & Flom are on a hot streak, winning dismissal of four potential mega-suits last week.

Shout-Out: Covington Saves Small Company From FCPA Peril

By Jenna Greene |

When a small oil exploration company came under investigation for violating the Foreign Corrupt Practices Act, it could have been the end. Instead, a team from Covington & Burling saved the day.

Owner Mark Cuban of the Dallas Mavericks attends the NBA game between the Dallas Mavericks and the Los Angeles Lakers at Staples Center on March 8, 2015 in Los Angeles, California.

SEC Nemesis Mark Cuban Strikes Again—But on the Wrong Side

By Jenna Greene |

The U.S. Securities and Exchange Commission must rue the day it ever picked a fight with Mark Cuban. But the the billionaire basketball team owner/reality show star is on the wrong side as an amicus in a case challenging the SEC's ability to bring administrative cases.

Shout Out: Weil Wins 10-Year False Claims Fight

By Jenna Greene |

After a 10-year fight that included one trip to the U.S. Supreme Court and two to the U.S. Court of Appeals for the Second Circuit, Weil Gotshal & Manges lawyers got a False Claims Act suit against Schindler Elevator Corp. dismissed on summary judgment.

Shout-Out: Latham Unplugs Securities Fraud Suit Against Car Battery Maker

By Jenna Greene |

Latham & Watkins litigators on Tuesday won dismissal of a would-be securities fraud class action against a company that made electric car batteries for the beautiful but ill-fated Karma by Fisker.

Andrew Ceresney.

Small-Time, Boring Cases? Well Done, SEC

By Jenna Greene |

Under the heading “They don’t make ‘em like they used to” add accounting fraud suits by the U.S. Securities and Exchange Commission. But that’s a good thing.

Shout-Out: Kramer Levin and Greenberg Traurig Get Securities Fraud Suits Tossed

By Jenna Greene |

A team of lawyers from Kramer Levin Naftalis & Frankel and Greenberg Traurig on Friday won dismissal of two securities fraud class actions against mortgage servicer Ocwen Financial Corp.

Judge Issues Hilarious Opinion Refusing to Seal Docs

By Jenna Greene |

U.S. District Judge Charles Breyer clearly didn’t think much of motions by firms including Wachtell and Skadden asking for documents to be sealed in a suit against Hewlett-Packard Co. How he responded is classic.

Michael Sommer

Litigator of the Week: Michael Sommer of Wilson Sonsini

By Scott Flaherty |

In the Teva-Mylan M&A fight, a preliminary litigation win helped keep a hostile bidder at bay.

Mary Jo White.

SEC Pay Ratio Rule in the Crosshairs, but It’s Not an Easy Target

By Jenna Greene |

The U.S. Securities and Exchange Commission is all but certain to be sued over rules adopted Wednesday that require public companies to disclose the ratio between their chief executive officers’ pay and that of their median employees. But how likely is a lawsuit to succeed?

SEC Plays Gotcha in Case Against Baby Formula Maker

By Jenna Greene |

Enforcement of the Foreign Corrupt Practices Act by the U.S. Securities and Exchange Commission sometimes feels like small-time, gotcha-style litigation. Case in point: the $12 million settlement with Mead Johnson Nutrition Co. over marketing baby formula to health care professionals in China.

After Failing to Boot Plaintiffs Firm, JPMorgan Inks $388M MBS Settlement

By Scott Flaherty |

For the Robbins Geller lawyers, who could earn close to $100 million in fees for their work, a $388 million settlement with JPMorgan must be all the sweeter since they first had to defeat efforts to disqualify them from spearheading the case.

U.S. Securities and Exchange Commission building.

Kilpatrick Lodges New Challenge to In-House SEC Proceedings

By Scott Flaherty |

The firm hopes to reprise a rare success in a growing trickle of cases challenging the constitutionality of the SEC's administrative enforcement regime.

Ethan Wohl of Wohl & Fruchter. SAC Capital wants the firm to cough up details of its arrangements with outside litigation funders.

SAC Capital Pursues Discovery Over Lawsuit Funding

By Scott Flaherty |

SAC Capital wants to know who's financing a case brought by shareholders of Elan Corp. against the hedge fund.

The former headquarters of Lehman Brothers in Manhattan.

Plaintiffs Strike Out in Lehman Employee Stock Plan Case

By Scott Flaherty |

The U.S. Supreme Court's 2014 ruling in Fifth Third v. Dudenhoeffer may have transformed the pleading requirements for ERISA plaintiffs, but it couldn't save claims against the administrators for Lehman Brothers Holding Inc.'s employee stock ownership plan.

Plaintiffs Ordered to 'Start Over' On Eve of Securities Class Action Trial

By David Bario |

U.S. District Judge Sam Sparks in Austin let a group of lawyers have it this week after he was forced to scuttle a long-planned securities class action trial against drugmaker Pain Therapeutics Inc.

After Third Circuit Win, Wal-Mart Stumbles in the Sixth

By Scott Flaherty |

It's been a big week for Wal-Mart Stores Inc. and its go-to appellate lawyer, Theodore Boutrous Jr. of Gibson, Dunn & Crutcher, who got to revel in one long-awaited ruling but suffered a setback in another.

Marc Kasowitz is representing Macquarie Capital in its malpractice case against Morrison & Foerster.

MoFo, Macquarie Square Off in Puda Coal Malpractice Case

By Scott Flaherty |

Macquarie Capital appears to have made peace with U.S. regulators over the messy demise of China's Puda Coal. But Macquarie's fight with its former lawyers at Morrison & Foerster is just heating up.

Cablevision Wins Delaware Ruling on Executive Pay

By Scott Flaherty |

Vice Chancellor John Noble implied he was troubled by some pay decisions at Cablevision, but deferred to the company's compensation committee.

KKR Taps Ex-SEC Lawyer at Debevoise for SEC Fees Case

By Susan Beck |

When KKR faced a groundbreaking investigation by the SEC into its allocation of expenses, it turned to someone who is familiar with the agency’s views on that topic. It hired Debevoise partner Robert Kaplan, the former co-chief of the SEC's asset management unit.

Stanford Ponzi Suit Continues for Chadbourne and Proskauer

By Anita Abedian |

A Texas federal judge has allowed lawsuits to continue against Proskauer, Chadbourne and a former lawyer at the two firms over the roles they played representing convicted Ponzi scheme promoter R. Allen Stanford.

Walter Forbes, former chairman of Cendant Corp.

Second Circuit Rejects Forbes' Bid for New Trial

By Madeline Farber |

Walter Forbes, the former chairman of Cendant Corp. who was given a 12 1/2-year sentence for fraud, argued that he had newly discovered evidence in the form of testimony of a former CFO.

Entrepreneur Slapped by SEC Apologizes, Explains in Video

By Susan Beck |

On the same day that the SEC announced that it had reached a $20,000 settlement with Sand Hill Exchange for illegally running a fantasy stock trading operation, one of the company's young founders posted a self-made video apologizing.

Photograph by Keith Bedford/Getty

Skadden Wins Round for American Apparel

By Scott Flaherty |

Two allies of American Apparel founder Dov Charney have been dealt a setback in their lawsuit attempting to help Charney regain control of the company.

Billionaire Wife's Case Tossed for Failure to Show

By Scott Flaherty |

Real estate mogul Roger Wang's failure to show for a deposition caused the dismissal of a securities case brought by his wife over Bear Stearns' collapse.