Autonomy founder Michael Lynch took the stand Thursday in a criminal trial in California federal court over claims he lied to HP about his software company's financial health before the tech giant paid $11.7 billion for it in 2011, saying the trial has been "surreal" and he didn't set out to defraud HP.
Law360
White Collar
SATURDAY, MAY 25, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Ex-Autonomy CEO Lynch Takes Stand In 'Surreal' Fraud Trial

By Bonnie Eslinger

Autonomy founder Michael Lynch took the stand Thursday in a criminal trial in California federal court over claims he lied to HP about his software company's financial health before the tech giant paid $11.7 billion for it in 2011, saying the trial has been "surreal" and he didn't set out to defraud HP.

Read full article » | Save to favorites »

High Court Sides With Gov't Over Repeat Offender Sentencing

By Alison Knezevich

A state drug conviction can trigger a mandatory 15-year sentence under the Armed Career Criminal Act if it involved a drug on the federal schedules at the time of that conviction, the U.S. Supreme Court ruled Thursday.

Opinion attached | Read full article » | Save to favorites »

Trump Loses 2 NY Criminal Appeals As Trial Winds Down

By Rachel Scharf

Former President Donald Trump on Thursday lost a pair of appellate challenges complaining that both the judge and jury in his ongoing New York criminal hush-money trial are biased, just a few days before closing statements in the historic case.

3 documents attached | Read full article » | Save to favorites »

BakerHostetler Faces Suit Over Murdaugh Case Work

By Madison Arnold

BakerHostetler and one of its attorneys have been slammed with a lawsuit alleging they instructed an investigative agency to withhold information on the family of Alex Murdaugh, the South Carolina attorney serving a life sentence for killing his wife and son, and then refused to pay the agency its related expenses.

Complaint attached | Read full article » | Save to favorites »

Charges Tossed For Army Doc, Wife In Russia Data Leak Case

By Craig Clough

A Maryland federal judge dismissed all charges against a U.S. Army physician and her wife who were accused of trying to leak military patients' medical information to Russia, finding the government violated the Speedy Trial Act and bungled the defense's request for access to classified information.

Opinion attached | Read full article » | Save to favorites »

Archegos Witness Admits Lying To Exec Charged In Collapse

By Pete Brush

An Archegos manager who pled guilty to fraud and is cooperating with prosecutors conceded to a Manhattan federal jury Thursday that he fostered an effort to mock his former boss and hide information before the hedge fund's $36 billion collapse.

Read full article » | Save to favorites »

Feds Nab Pair In $2M Sports, Pokémon Trading Card Scam

By Elliot Weld

Two Washington state men were charged Thursday in New York federal court with running a $2 million scheme to defraud buyers of sports and Pokémon trading cards by claiming low- or mid-grade cards were authentic and highly rated.

Indictment attached | Read full article » | Save to favorites »

Man Behind NH Primary Deepfake Faces Charges, FCC Fines

By Christopher Cole

The Democratic consultant accused of making robocalls with a cloned voice of President Joe Biden discouraging voters from taking part in the New Hampshire primary faces a state indictment on 13 felony voter suppression charges and $6 million in potential federal fines.

Read full article » | Save to favorites »

No Prison Time For Ex-State's Atty Mosby, Judge Rules

By Ali Sullivan

Former Baltimore State's Attorney Marilyn Mosby avoided prison time on Thursday after she was convicted of lying to make early withdrawals from her city retirement account and on a mortgage application for a Florida vacation home.

1 document attached | Read full article » | Save to favorites »

INVESTIGATIONS

FirstEnergy Wants 6th Circ. To Shield Bribe-Probe Docs

By Jessica Corso

FirstEnergy Corp. is pursuing the Sixth Circuit's input into its request to shield internal investigative documents from a class of investors and from two of its indicted former executives, saying the documents contain privileged legal advice given in the wake of a $1 billion bribery scandal.

Memorandum attached | Read full article » | Save to favorites »

SECURITIES

Feds Score Discovery Pause In SEC Suit Against CoinDeal

By Katryna Perera

A Michigan federal judge on Thursday granted the federal government's motion to intervene and stay discovery in a U.S. Securities and Exchange Commission suit alleging a group of individuals and businesses duped investors out of more than $45 million through a CoinDeal investment fraud scheme.

2 documents attached | Read full article » | Save to favorites »

Ex-Fund Manager Settles SEC's $264M Offering Fraud Claims

By Emilie Ruscoe

A former private fund manager has agreed to pay $250,000 to resolve U.S. Securities and Exchange Commission claims he violated securities fraud laws by making promises that funds he handled would invest almost $264 million that they did not actually have on hand in issuers, including two special purpose acquisition vehicles.

Complaint attached | Read full article » | Save to favorites »

PUBLIC INTEGRITY

Menendez Says Feds Can't Wield Texts About Egyptian Aid

By Carla Baranauckas

U.S. Sen. Robert Menendez told a federal court that the government can't support its corruption case with text messages involving military aid to Egypt and a local businessman accused of bribing the senator, citing U.S. Supreme Court precedent excluding past legislative acts as admissible evidence.

Letter attached | Read full article » | Save to favorites »

BANKING

Ex-Bank CEO Cops To Embezzling $47M To Pay Crypto Scam

By Gina Kim

Heartland Tri-State Bank's former chief executive pled guilty Thursday in Kansas federal court to embezzling $47 million that he wired to cryptocurrency accounts controlled by fraudsters after falling victim to a "pig butchering" scam, which led to the bank's collapse and subsequent shutdown last summer.

Read full article » | Save to favorites »

MONEY LAUNDERING

Big Banks Hit With Claims Of Turning Man Into 'Money Mule'

By Spencer Brewer

A wealthy Texas entrepreneur says Morgan Stanley, Merrill Lynch, Charles Schwab and Deutsche Bank turned him into a "money mule" by using his accounts to launder billions of dollars over multiple decades, alleging a conspiracy also involving his family and a prominent lawyer that cost him millions.

Complaint attached | Read full article » | Save to favorites »

BANKRUPTCY

FTX Judge Declines To Undo Ch. 11 Digital Claim Estimation

By Vince Sullivan

The judge overseeing the Chapter 11 case of cryptocurrency exchange FTX Trading Ltd. on Thursday denied a request to vacate an earlier ruling allowing the debtor to estimate the claims of creditors holding digital assets based on their petition date value, saying the party seeking to undo the order had not provided any new evidence to justify the action.

Read full article » | Save to favorites »

CANNABIS

Wiz Khalifa Settles Suit Over Cannabis Venture

By Jonathan Capriel

Rapper Wiz Khalifa has settled a lawsuit filed by the co-owner of his cannabis enterprise who claimed he was cut out of a $20 million deal to license the artist's name and likeness to promote cannabis products.

2 documents attached | Read full article » | Save to favorites »

LEGAL ETHICS

Trump Atty Nears Deal To End Colo. Discipline Case

By Thy Vo

Former Trump attorney Jenna Ellis and Colorado's attorney discipline office said Thursday that they were finalizing a settlement in a disciplinary case over Ellis' false statements about the presidential election in Georgia, though the disciplinary judge cautioned that he is prepared to rule if he does not like the deal.

Read full article » | Save to favorites »

DC Judge Bars Giuliani From Defaming Ga. Poll Workers

By Ali Sullivan

A D.C. federal judge has entered an injunction barring Rudy Giuliani from repeating lies that two Georgia poll workers meddled with the 2020 presidential election, resolving a second lawsuit the election workers launched after securing a $146 million judgment against the former New York City mayor.

Order attached | Read full article » | Save to favorites »

Mich. Atty Convicted For Arranging Murder Of Jeweler Client

By Danielle Ferguson

A Michigan attorney was one of two convicted by an Oakland County jury Thursday of first-degree premeditated murder and conspiracy for their role in a plot to kill his client, a well-known jeweler, to gain access to millions of dollars in the jeweler's trust.

2 documents attached | Read full article » | Save to favorites »

HEALTH

Ex-Physical Therapy Clinics Owner Gets 2 Yrs. In Billing Scam

By Julie Manganis

The former owner of eight physical therapy clinics in the Boston area was sentenced Thursday in Massachusetts federal court to just over two years in prison for a years-long scheme to bill insurance companies for nonexistent treatments, including for himself.

2 documents attached | Read full article » | Save to favorites »

NATIVE AMERICAN

SD Governor Now Banned By All Nine Of State's Tribes

By Crystal Owens

The Flandreau Santee Sioux Tribe is asking South Dakota Gov. Kristi Noem to clarify and apologize for her repeated statements that tribal leaders are working with drug cartels after its executive council voted to ban her from their lands, becoming the last of the state's nine tribes to take such action.

Read full article » | Save to favorites »

TAX

Ambulance Co. Owner Accused Of $1M Pandemic Loan Fraud

By Anna Scott Farrell

The owner of a California ambulance company who was charged last year with tax evasion and filing false returns has been further accused of fraudulently securing $1 million from federal pandemic relief loan programs, according to the U.S. Department of Justice.

1 document attached | Read full article » | Save to favorites »

PEOPLE

Longtime EDNY AUSA Joins Bracewell In New York

By Adrian Cruz

Bracewell LLP announced that the former chief of the U.S. Attorney's Office for the Eastern District of New York's Long Island district joined the firm's government enforcement and investigations practice as a partner.

Read full article » | Save to favorites »

EXPERT ANALYSIS

How To Use Exhibits Strategically Throughout Your Case

Exhibits, and documents in particular, are the lifeblood of legal advocacy, so attorneys must understand how to wield them effectively throughout different stages of a case to help build strategy, elevate witness preparation and effectively persuade the fact-finders, say Allison Rocker at Baker McKenzie and Colorado prosecutor Adam Kendall.

Read full article » | Save to favorites »

2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors

Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.

2 documents attached | Read full article » | Save to favorites »

LEGAL INDUSTRY

Analysis

Biden's Judicial Impact And What's Left On The Wish List

By Courtney Bublé

President Joe Biden secured confirmation of his 200th federal judge Wednesday and has transformed the judiciary by picking more women and people of color than any other president. But the upcoming election season could derail his hopes of confirming many more judges.

Read full article » | Save to favorites »

Meet Biden's Latest Pennsylvania Picks For District Court

By P.J. D'Annunzio & Matthew Santoni

President Joe Biden has continued his trend of nominating public defenders to the federal bench, this time selecting two longtime defense attorneys to occupy vacancies in Pennsylvania.

Read full article » | Save to favorites »

DOJ's Live Nation-Ticketmaster Suit: What You Should Know

The U.S. Department of Justice and a slew of state attorneys general filed a suit challenging the 2010 merger of Ticketmaster and Live Nation. Here, catch up on Law360's coverage of the deal and those who have challenged it along the way – Taylor Swift fans, investors and regulators.

Read full article » | Save to favorites »

Exiled Chinese Businessman Is No $1B Fraudster, Jury Told

By Stewart Bishop

Exiled Chinese businessman and purported billionaire Guo Wengui ran legitimate companies in support of a broad movement that opposed the Chinese Communist Party, his attorney told a Manhattan federal jury Friday, rather than what prosecutors say was a multifaceted $1 billion fraud.

Letter attached | Read full article » | Save to favorites »

Menendez, Kasowitz Firm Spar Over Subpoena To Cooperator

By Elliot Weld

Amid his bribery trial, U.S. Sen. Robert Menendez of New Jersey is urging a Manhattan federal judge to order a government cooperator to turn over communications involving his current counsel at Kasowitz Benson Torres LLP and his former attorneys.

2 documents attached | Read full article » | Save to favorites »

McElroy Deutsch Seeks Win Against Ex-CFO After Guilty Plea

By Rose Krebs

McElroy Deutsch Mulvaney & Carpenter LLP is urging a New Jersey state court to order its former chief financial officer to pay roughly $1.5 million damages for "unauthorized compensation" he paid himself and force him to disgorge $5.4 million in pay he received from the firm.

Motion attached | Read full article » | Save to favorites »

Ex-DOJ Atty Clark Says He Was Denied A Fair Ethics Hearing

By Alison Knezevich

Former Justice Department official Jeffrey Clark was denied a fair hearing in his Washington, D.C., ethics case and should not face punishment, he told an attorney disciplinary committee in a Thursday filing.

Brief attached | Read full article » | Save to favorites »

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

Antitrust law took center stage this week as college general counsel try to figure out the what and how of paying student athletes under a new court ruling, and the U.S. Department of Justice is trying to break up the entertainment venue dominance of Live Nation and Ticketmaster.

Read full article » | Save to favorites »

UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen an IT engineer seek permission to search a landfill hiding a hard drive supposedly storing millions of pounds in bitcoin, Glencore take on legal action by American Century Investments, gold payment app Glint bring a breach of duty claim against FRP Advisory, and an ongoing dispute between a solicitor and the Solicitors Regulation Authority. Here, Law360 looks at these and other new claims in the U.K.

Read full article » | Save to favorites »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

Read full article » | Save to favorites »

Using A Children's Book Approach In Firm Marketing Content

From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.

Read full article » | Save to favorites »

Promo that reads Law360 2024 Titans of the Plaintiffs Bar Promo that reads Law360 Pulse 2024 AI Survey

LAW FIRMS IN TODAY'S NEWS

All Law PLLC

Baker & Hostetler

Baker McKenzie

Bathaee Dunne

Berger Fischoff

Bird Marella

Bracewell LLP

Burnham & Gorokhov

Caldwell Carlson

Clifford Chance

Clyde & Co

Crowell & Moring

DWF LLP

Davidoff Hutcher

Davis Polk

Dickie McCamey

DuBose Miller

Duane Morris

Eversheds Sutherland

Fieldfisher

Fish & Richardson

Fox Rothschild

Fox Williams

Frankfurt Kurnit

Friedman Kaplan

Gateley PLC

Gellert Scali

Gibbons PC

Greenberg Traurig

Hamlins LLP

Harris St. Laurent

Hill Dickinson

Holland & Knight

Horwich Farrelly

Howes Percival

Hughes Hubbard

Hunton Andrews

JMW Solicitors LLP

Jones Day

Kasowitz Benson

KaurMaxwell

Kirkland & Ellis

Kramer Levin

Landis Rath

Latham & Watkins

Marino Tortorella

McDonald & MacGregor

McElroy Deutsch

McKool Smith

Michael Best & Friedrich LLP

Murray Murphy

NechelesLaw

Pallas Partners

Paul Hastings

Penningtons Manches

Poole Huffman

Potter Clarkson

Pryor Cashman

Quinn Emanuel

Reed Smith

Richilano Shea

Robbins Geller

Rosen Hagood

Saporito Falcone

Schertler Onorato

Sidley Austin

Spencer Fane

Squire Patton

Steptoe LLP

Sullivan & Cromwell

Tucker Ellis

Vinson & Elkins

Washington & Washington

Welsh & Recker

Wilkin Chapman

Williams & Connolly

Willkie Farr

Winston & Strawn

Zuber Lawler

de Castro PC

COMPANIES IN TODAY'S NEWS

AXA SA

AXA XL Ltd.

Academy Sports & Outdoors Inc.

Aetna Inc.

Atlantic Global Insurance Services

Avolon Holdings Ltd.

Bank of America Corp.

Bayerische Motoren Werke AG

Boehringer Ingelheim

Boehringer Ingelheim Vetmedica Inc.

British Broadcasting Corp.

Defender Association of Philadelphia

Deloitte Touche Tohmatsu Ltd.

Deutsche Bank AG

EMCOR Group Inc.

Ferrari SpA

First Bank (Hamilton, NJ)

FirstEnergy Corp.

Ford Motor Co.

Fordham University

Glencore PLC

HSBC Holdings PLC

Heartland Tri-State Bank

Hewlett Packard Enterprise Co.

Honeywell International Inc.

Icertis Inc.

Integrys Energy Group Inc.

Jubilee Holdings Ltd.

LinkedIn Corp.

Live Nation Entertainment Inc.

MAPFRE SA

Major Lindsey & Africa LLC

Mediterranean Shipping Co. SA

Mercedes-Benz USA LLC

MilliporeSigma

Mondelez International Inc.

Morgan Stanley

NBCUniversal Media LLC

National Collegiate Athletic Association

New York Football Giants Inc.

Norfolk Southern Corp.

Pac-12 Enterprises LLC

Paysafe Group PLC

Pegasus Capital Advisors LP

PetroChina Company Limited

Petrobras

QBE Insurance Group Ltd.

Solicitors Regulation Authority Ltd.

Space Exploration Technologies Corp.

Swissport International Ltd.

Tesla Inc.

The Catholic University of America

The Charles Schwab Corp.

The District of Columbia Bar

The Goldman Sachs Group Inc.

The New York Times Co.

Trafigura Group Pte. Ltd.

University of Virginia

Wells Fargo & Co.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Colorado Supreme Court

Companies House

European Commission

European Union

Federal Bureau of Investigation

Federal Communications Commission

Federal Deposit Insurance Corp.

Federal Reserve System

Flandreau Santee Sioux Tribe

Manhattan District Attorney's Office

National Labor Relations Board

Ohio House of Representatives

Ontario Securities Commission

Small Business Administration

South Dakota Legislature

Standing Rock Sioux Tribe

U.S. Army

U.S. Attorney's Office for the Central District of California

U.S. Attorney's Office for the District of Kansas

U.S. Attorney's Office for the District of Maryland

U.S. Attorney's Office for the District of Massachusetts

U.S. Attorney's Office for the Eastern District of Michigan

U.S. Attorney's Office for the Eastern District of New York

U.S. Attorney's Office for the Northern District of California

U.S. Attorney's Office for the Southern District of New York

U.S. Bankruptcy Court for the District of Delaware

U.S. Department of Defense

U.S. Department of Justice

U.S. District Court for the Central District of California

U.S. District Court for the District of Columbia

U.S. District Court for the District of Maryland

U.S. District Court for the District of Massachusetts

U.S. District Court for the District of Nebraska

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Eastern District of Pennsylvania

U.S. District Court for the Eastern District of Texas

U.S. District Court for the Middle District of Pennsylvania

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of New York

U.S. Environmental Protection Agency

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the District of Kansas

United States District Court for the Southern District of Ohio