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.
Former U.S. Attorney John Wood said that the decision by Trump to keep NY AG Preet Bharara "suggests that the Feds will continue to keep the pressure on C-suite executives to adopt and maintain strong compliance programs for their companies. Read More »
"What a destructive precedent it would set if courts decide that running a disciplined organization counts as evidence of complicity in allegedly illegal acts," writes the Wall Street Journal editorial board of the New York attorney general's "struggling" case against former CEO of AIG, Hank Greenberg.
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Citing the "outsized influence of the trial lawyer's agenda in Albany," Adam Morey, government affairs manager for the Lawsuit Reform Alliance of New York, cites the state's 21st ranking in ILR's 2015 Lawsuit Climate Survey study in calling for passage of legal reforms in the state. Read More »
The New York Daily News editorial board draws a distinction between the circumstances of the U.S. Supreme Court's vacating the corruption convictions of former Virginia Gov. Bob McDonnell, and the conviction of former New York Assembly Speaker Sheldon Silver. Read More »
Bank of America Penalty Thrown Out: The Second U.S. Circuit Court of Appeals "dealt the Obama administration a major setback in its efforts to levy tough fines on corporations and executives, overturning a civil mortgage-fraud case against Bank of America." Read More »
Former New York Assembly Speaker Sheldon Silver was sentenced to 12 years in prison, "ordered to pay a fine of $1.75 million and forfeit about $5.3 million he reaped from the criminal schemes of which he was convicted," reports the Wall Street Journal. Read More »