New York News

$560M, more than the budgets of many smaller cities, is a fairly shocking figure, since, at typical 33% to 40% personal-injury contingency rates, it means that it's a wealth transfer of about $30 per capita from every man, woman, and child in the 99% in New York City to the 1% who are trial lawyers.

Bank of America shareholders who want to scuttle a proposed $20 million settlement of derivative claims arising from the bank's acquisition of Merrill Lynch have been thwarted again. On Monday U.S. District Judge P. Kevin Castel in Manhattan, who must decide whether to approve the settlement, rejected requests by the objectors to intervene and replace the lead plaintiffs and their counsel.

A federal judge has tentatively dismissed the economic damages claims of consumers in Florida and New York against Toyota Motor Corp. in the litigation over sudden acceleration by Toyota vehicles, on the ground that they hadn't actually experienced the problem.

As I've campaigned around New York state over the past two months, one thing has become clear: Whether they work on farms or in financial institutions, New Yorkers everywhere are being crushed by federal regulation.

Deciding a case of first impression, Southern District Judge P. Kevin Castel found that New York's Exempt Income Protection Act does not provide a private right of action for money damages against a bank in a case involving a putative class of debtors who sued TD Bank for freezing their accounts pursuant to a restraint by a third-party creditor.

A New York rule restricting how attorneys can advertise their professional certifications violates lawyers' First Amendment rights, a federal appeals court ruled on Monday.

That $279 million no-fault insurance scam cops busted Thursday gives added value to the term “ambulance-chasing.”

New York Attorney General Eric Schneiderman seems to think his job is to sift through the wreckage of the housing market and shoot the wounded. His latest target is electronic mortgage record-keeping, which he calls a scandal, perhaps because he doesn't understand it.

New York’s chief judge is tired of losing commercial cases to other states — Delaware, California and Texas among them.

New York Attorney General Eric Schneiderman, a lead investigator into the mortgage collapse that wobbled the U.S. economy, hasn't taken the title "Sheriff of Wall Street" that one of his predecessors rode all the way to the governor's mansion.  But he's not backing down, either.