NY Commercial Litigation Insider

Top News

Morgan Stanley headquarters at 1585 Broadway

Morgan Stanley Loses Bid to Dismiss Insider Trading Suit

By Ben Bedell |

Judge Colleen McMahon denied Morgan Stanley's motion for summary judgment on the grounds that "there is plenty of evidence­—most of it out of the mouths of Morgan Stanley's own personnel—from which a jury could conclude" that Morgan Stanley traded on insider information for the benefit of its own account.

Justice Demarest

Court Validates $20M Award by Beis Din Panel for Embezzlement

By Ben Bedell |

A Brooklyn Commercial Division judge has confirmed a $20 million arbitration award issued by a Jewish religious court against a former executive of a Jewish charity under indictment for embezzlement.

Shirley Werner Kornreich

Insufficient Evidence Leads Judge to Toss $30M Art Suit

By Ben Bedell |

A nearly five-year lawsuit over an alleged $30 million art fraud was dismissed by a Manhattan Commercial Division judge Wednesday on statute of frauds grounds.

Allied Irish Fraud Suit Against Citibank Proceeds

By Ben Bedell |

A federal judge has allowed a 12-year-old suit to go forward charging that Citibank assisted a rogue foreign currency trader in covering up nearly $600 million in losses.

Litigator’s Corner

Thomas A. Dickerson and Jeffrey A. Cohen

Taxis and Ride-Sharing: Meeting New York City's Car Service Needs

By Thomas A. Dickerson and Jeffrey A. Cohen |

Thomas A. Dickerson and Jeffrey A. Cohen discuss the Court of Appeals' recent decision on New York City's Taxi of Tomorrow plan, which would require cabs being retired to be replaced with a specific Nissan model, along with the city's response to the growth of car-sharing companies Uber and Lyft.

Jeremy H. Temkin

Offshore Accounts: The Beat Goes On

By Jeremy H. Temkin |

In his Tax Litigation Issues column, Jeremy H. Temkin discusses the Offshore Voluntary Disclosure Program, which remains the best opportunity for taxpayers who intentionally evaded their tax and reporting obligations, and an alternate for taxpayers whose prior non-compliance was unintentional that can have lower financial penalties but does not offer the OVDP's protection from criminal prosecution.

New Commercial Division Rules Reflect Court's Efficiency Goals

By Daniel L. Brown and Thomas M. Monahan |

Daniel L. Brown and Thomas M. Monahan of Sheppard Mullin Richter & Hampton write: The Commercial Division continues to evolve to meet its goal of promoting the efficient resolution of significant business disputes filed in New York state courts. To this end, the Commercial Division recently implemented new rules and procedures to promote efficiency in litigation, many of which are similar to federal court practice that often includes active judicial involvement and streamlined discovery procedures.

Protecting Consignors' Interests and Rights to Recover Property

By Carren B. Shulman |

Carren B. Shulman of Sheppard, Mullin, Richter & Hampton writes: In this uncertain economy, consignment is realizing a resurgence and may be an effective cost saving measure for vendors/consignees. This article addresses the law on consignment and how consignors protect themselves.