In a ruling yesterday, Judge Crotty dismissed a derivative action against fifteen JP Morgan Chase current and former executives and board members, including bank chief Jamie Dimon. The complaint alleged that that JP Morgan was damaged by six recent, high profile settlements with government agencies and private litigants that cost the firm billions. The

In a ruling yesterday, Judge William Pauley approved $100 million settlements by Moore Capital Management LP and a former MF Global Inc. broker in a class action suit over manipulation of platinum and palladium futures prices. The settlements for alleged commodities fraud and antitrust claims, two by Moore totaling $57.4 million and two by Joseph

In a ruling last week, Judge Failla dismissed a purported class action suit against Darden Restaurants, the owner of the Red Lobster and Olive Garden restaurant chains. The plaintiff, Ted Dimond, sought to represent a class of Darden’s customers, accusing the restaurant giant of violating New York state consumer protection laws by illegally adding an

In a ruling on July 9th, Judge Colleen McMahon dismissed, with prejudice, the securities class action litigation filed against LINN Energy, an onshore oil and natural gas company, and LinnCo, holding that the plaintiffs failed to demonstrate that the company had lied in their accounting practices for $330 million worth of hedge costs, option premiums

In a ruling this morning, Judge Crotty dismissed a pair of lawsuits that aimed to block the construction of a “massive, 70,000 square foot, 10-story tall” trash-transfer center at the East River on 91st Street in Manhattan. As Judge Crotty explained, the 91st location has had a long and important role in trash disposal in

In his latest MF Global ruling, issued today, Judge Marrero denied PriceWaterhouseCooper’s motion to dismiss a $1 billion malpractice and negligence suit brought by the bankrupt brokerage firm’s plan administrator. PwC had acted as an outside auditor and accountant for MF Global before it went bankrupt.  The plan administrator alleged that PwC “engaged in

In a ruling today, Judge Englemayer found that Themis Capital and Des Moines Investments’ attempt to collect long-owed debt from the Democratic Republic of the Congo (the “DRC”) and the Bank of the DRC is not barred by New York’s six-year statute of limitations. Themis and Des Moines are successors-in-interest to creditors of the debt

In an opinion dated Sunday, July 6, Judge Rakoff ruled that the trustee administering Bernie Madoff’s defunct investment firm could not invoke the Bankruptcy Code to recover funds transferred between two foreign entities. Citing Morrison v. Nat’l Austria Bank Ltd., Judge Rakoff held that Section 550 of the Bankruptcy Code, like other federal statutes,