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Jennifer Kennedy Park, a partner at Cleary Gottlieb Steen & Hamilton, and Matthew M. Bunda and Aaron Krieger, associates with the firm, write: When does friendship become a source of securities fraud liability? According to a recent decision in the Eastern District of Pennsylvania, it happens when two friends who met through Alcoholics Anonymous talk about work and one of them trades on information learned in those conversations.
Barbara A. Lukeman, a partner with Nixon Peabody, and Thomas M. Mealiffe, an associate at the firm, write: Unlike its federal counterpart, New York's expert disclosure rule is marked by inefficiency, ambiguity, and inconsistency. These deficiencies have prompted the NYSBA to propose a set of voluntary rules to bolster the current rules for cases before the Commercial Division, but a large portion of litigants outside of the Commercial Division must still contend with insufficient expert disclosure and a legal morass created by unpredictable rulings from each of the four appellate departments.
Proskauer Rose's Lloyd B. Chinn and Rebecca L. Berkebile discuss a recent decision where the Western District court analyzed the distinctions between anti-raiding provisions and non-compete agreements, explaining why the differences impact the enforceability of anti-raiding covenants.
Yehudah Buchweitz, a partner at Weil, Gotshal & Manges, writes: Despite a company's best efforts to avoid litigation, due to recent developments in the law of prejudgment attachment and post-judgment execution in New York, companies that transact business with, or hold property of other companies may be easily dragged into litigation in New York state courts by their counterparty's creditors, forcing them to incur unexpected legal and business costs.