New York is ranked #21 in the 2015 Lawsuit Climate Survey: Ranking the States. Although New York City was named one of the cities or counties with the least fair and reasonable litigation environments, the state overall was second in the country for having and enforcing meaningful venue requirements, and fourth for its handling of scientific and technical evidence.
The resignation of former New York Speaker Sheldon Silver after being indicted on "fraud and racketeering" charges related to an asbestos plaintiffs' firm, along with the troubling findings in the Garlock bankruptcy case, could provide momentum for Congress to pass the Fairness in Asbestos Claims Trust (or, FACT) ACT this month. (The Huffington Post) Read More »
The head of the Illinois-based Better Government Association highlights a University of Illinois professor's proposal for breaking the state's budget stalemate between Governor Bruce Rauner and the legislature, which includes legal reform. He writes that the governor should "give Democrats a choice between stricter rules on where to file personal injury lawsuits, restricting 'pain and suffering' awards, or sponsoring a constitutional amendment to determine if voters wanted to limit certain damages." (The Herald & Review) Read More »
The New York City Asbestos Litigation (NYCAL) case management order is 27 years old, and some defendants have sought a stay on existing cases until the CMO is revised. Last week, NYCAL Judge Peter Moulton rejected the requested stay, but did grant a motion to negotiate a modification of the CMO, saying that a "complete re-examination of the CMO" is warranted. (Legal Newsline) Read More »
In a case that "essentially establishes that 'valuable student internships' are covered" under the Foreign Corrupt Practices Act (FCPA), the U.S. Securities and Exchange Commission reached a $14.8 million settlement with Bank of New York Mellon Corp. over accusations the bank provided internships to relatives of foreign officials in violation of the FCPA. The bank has not admitted any wrongdoing. (Wall Street Journal) Read More »
U.S. District Judge Richard Berman in Manhattan yesterday ruled (Duka v SEC) that the U.S. Securities and Exchange Commission's method for appointing in-house judges is "likely unconstitutional." Read More »
The National Law Review takes a look at how the FCC's recent order on the Telephone Consumer Protection Act (TCPA) impacts reassigned numbers. The rule "creates a trap for law-abiding companies by giving litigious individuals a reason not to inform callers about a wrong number," according to dissenting FCC Commissioner Ajit Pai. (National Law Review) Read More »
A New York federal judge ruled that Amarin Pharma Inc. has a "constitutional right to make certain truthful and nonmisleading statements about off-label uses" of omega-3 drug Vascepa, "striking a blow to the U.S. Food and Drug Administration's restrictions on product marketing." (Law360) Read More »