Tag Archives: Judge Scheindlin

Judge Scheindlin Gives Departing Interviews to NYT, NYLJ, and AP

The articles are here (NYT), here (NYLJ), and here (AP). In the articles, Judge Scheindlin defends her work on the stop-and-frisk cases (which we covered extensively, see here).  She called the Second Circuit’s decision to remove her from the cases an “intrafamily attack on judicial independence.” As of today, Judge Scheindlin will be working at JAMS and at Stroock … Continue Reading

Second Circuit Allows Recovery of 7-Carat Diamond Against Innocent Buyer, Rejecting UCC “Merchant Entrustment” Rule

Yesterday, the Second Circuit reversed a decision by Judge Scheindlin granting summary judgment in favor of two plaintiffs seeking to confirm ownership of a 7.4-carat diamond under the UCC’s “merchant entrustment” rule (see our original coverage of the case here).  The defendant below, the original owner of the diamond, had lent the diamond to a celebrity … Continue Reading

Major League Baseball Settles Broadcast Antitrust Class Action Moments Before Trial

Shortly before a nine-day bench trial was scheduled to start this morning, Major League Baseball settled an antitrust suit alleging it is anticompetitive for Major League Baseball broadcast out-of-market games only as part of a allegedly overpriced all-or-nothing packages.  As part of the settlement, MLB will offer reduced price packages for fans to stream out-of-market games … Continue Reading

Parties File Pretrial Briefs in Antitrust Challenge to Baseball’s “Territorial” Broadcast Structure

The plaintiffs and Major League Baseball yesterday exchanged briefs in anticipation of a January 18 trial before Judge Scheindlin in a case alleging it is anticompetitive for Major League Baseball to divide the market for broadcasting games into various territories exclusive to the local teams, while allowing the broadcast of out-of-market games only as part … Continue Reading

Class Action Accuses Banks of Collusion in Market for Interest Rate Swaps

Last week, an investor class action was filed accusing a a group of banks dealing in interest rate swaps (IRS) of collusion.  According to the complaint, the banks have long dominated the market, and, in recent years, have worked together to stop buy-side investors from gaining the benefit of newly-developed exchanges that should have reduced their dominance:… Continue Reading

SDNY Blog Returns as Steptoe Blog

The SDNY Blog is relaunching as a publication of Steptoe & Johnson LLP.  We expect to post several times a week on decisions and other developments in the Southern District of New York.  You can find us right here at www.sdnyblog.com, or follow us on Twitter or Facebook. Here’s a quick summary of what’s been happening in the Southern … Continue Reading

Judge Scheindlin Certifies Injunction Class in Antitrust Challenge to “Territorial” Structure of Sports Broadcasts

In an opinion today, Judge Schiendlin certified a Rule 23(b)(2) injunction class in a case alleging that it is anticompetitive for Major League Baseball and the National Hockey League to divide the market for games into various territories exclusive to the local teams, while allowing the broadcast of out-of-market games only as part of all-or-nothing … Continue Reading

Judge Scheindlin Allows Class Action Over Barclays “Dark Pool” to Proceed

In an opinion Friday, Judge Scheindlin largely denied Barclays’ motion to dismiss a securities fraud class action alleging that Barclays misled investors about its anonymous trading platform, or “dark pool,” referred to as “LX.”  At the outset, Judge Scheindlin found it appropriate for the plaintiffs to have borrowed substantially from the New York Attorney General’s … Continue Reading

Judge Hellerstein Rules That Spanish Bank With New York Branch Must Gather Information Globally for Judgment Collection Subpoena

In an opinion yesterday, Judge Hellerstein emphatically rejected the arguments of a Spanish bank, Banco Bilbao Vizcaya Argentina (S.A.) (“BBVA”), that, under the recent Supreme Court decision in Daimler v. Bauman and the Second Circuit’s recent ruling in Gucci v. Li, the Court lacked jurisdiction to enforce a subpoena seeking information that related to judgment collection … Continue Reading

Judge Scheindlin: Auditors’ Failure to Investigate Tax Preparer’s Opinions is Not Fraud

In an opinion last week, Judge Scheindlin denied the plaintiffs in a securities class action leave to amend their complaint to assert securities fraud claims against the company’s auditors, PriceWaterhouseCoopers and Ernst & Young. The proposed amendment would have alleged that PwC and E&Y took at face value the erroneous opinion of a third party … Continue Reading

Judge Scheindlin Urges Congress to Adopt Process to Certify Novel Questions of Foreign Law

In an opinion yesterday, Judge Scheindlin dismissed for lack of standing claims brought by a plaintiff (“FTE”) claiming that the defendants had misappropriated trademarks to the Stolichnaya vodka brand.  The Second Circuit held last year that FTE lacked standing, and the Russian Federation thereafter issued a degree apparently aimed at curing the issue.  Judge Scheindlin’s … Continue Reading

Judge Scheindlin Awards Stolen 7-Carat Diamond to Innocent Buyers Under UCC “Merchant Entrustment” Rule

In an opinion yesterday, Judge Scheindlin granted summary judgment to two plaintiffs who sought to confirm their rightful ownership of a 7.44 carat diamond.  The original owners (referred to as “WGDC”) had lent the diamond to a stylist named Derek Khan, who was in the business of arranging for celebrities to wear his clients’ jewelry, … Continue Reading

Judge Scheindlin: Supreme Court’s Halliburton Decision Did Not Change Plaintiff’s Burden of Proving “Price Impact” in Securities Fraud Case

In a brief order today, Judge Scheindlin denied a request by French conglomerate Vivendi to file, in light of the Supreme Court’s recent decision in the Halliburton II case, a new Rule 50(b) motion three years after its initial post-trial motion was denied. As Judge Scheindlin explained: In the Supreme Court’s own words, it granted … Continue Reading

Judge Scheindlin: MLB, NHL Television Deals Not Exempt from Antitrust Laws

In an opinion issued on Friday, Judge Scheindlin denied the summary judgment motion of MLB, the NHL, Comcast and DirectTV on antitrust claims rising out of the territorial distribution of television rights the sports leagues have arranged with regional sports networks.  Under the current system, fans are able only to watch a team’s games if … Continue Reading

Judge Scheindlin Rules That Sovereign Immunity Protects Former Israeli Security Official From Deposition

In an opinion today, Judge Scheindlin granted the State of Israel’s motion to quash, on sovereign immunity grounds, a subpoena to a former Israeli national security official, Uzi Shaya.  The underlying case accuses the Bank of China of aiding and abetting a 2006 suicide bombing in Israel, and Mr. Shaya allegedly had knowledge of the Bank … Continue Reading

Judge Scheindlin Rejects Proposed Settlement of Water Contamination Suit Against Citgo on Fairness Grounds

In an opinion issued yesterday, Judge Scheindlin rejected a proposed settlement between the New Jersey Department of Enviornmental Protection and oil company Citgo over claims related to the potential contamination of water supplies with a kind of gasoline additive known as MTBE.  The non-settling defendants objected to the proposed $23 million settlement on the grounds … Continue Reading

MLB and NHL Move for Summary Judgment in Antitrust Cases Over “Territorial” Broadcast Structure

In a pair of consolidated cases alleging that it is anticompetitive for Major League Baseball and the National Hockey League to divide the market for games into various territories exclusive to the local teams, while allowing the broadcast of out-of-market games only as part of all-or-nothing packages like MLB Extra Innings or NHL Center Ice … Continue Reading

Judge Scheindlin Dismisses Twitter Fraud Suit

In an opinion issued today, Judge Scheindlin dismissed fraud claims against Twitter brought by firms who claimed to have been misled into promoting private sales of Twitter stock that Twitter had no intention of ever selling.  The plaintiffs had not dealt directly with Twitter, but instead entered into agreements with a third party (a firm … Continue Reading

Judge Scheindlin Rules that Alien Tort Claims May Proceed Against Corporate Defendants

In an opinion issued yesterday, Judge Scheindlin denied the motion to dismiss claims under the Alien Tort Statue against Ford, GM and IBM, finding that two recent Supreme Court rulings had undermined the Second Circuit’s prior decision that corporations could not be liable under the statute. The case, In re South Afican Apartheid Litigation, accuses … Continue Reading

Concussion Class Action Filed Against NHL

In a complaint filed Wednesday, a group of former NHL hockey players filed a class action alleging that the NHL failed to warn, and concealed, the risk of concussions and other injuries: Ice hockey is the most difficult team sport in the world. The puck changes possession on average 450 times per game. Players move … Continue Reading

Judge Scheindlin Dismisses Class Action Alleging Argentinian Firm Failed to Warn of Nationalization Risk

In an opinion issued today, Judge Scheindlin dismissed a putative class action against an Argentinian energy company, its underwriters and executives, alleging violations of the Securities Act and Exchange Act.  The plaintiffs alleged that the company, YPF Sociedad Anonima, majority owned by co-defendant Repsol YPF, S.A., had failed to warn investors of the risk that … Continue Reading

Judge Scheindlin, Creating Split, Rules That Locally Served 30(b)(6) Subpoena Can Require Information Available Only From Foreign Office

In an opinion today, Judge Scheindlin ruled that Bank Hapoalim, a non-party Israeli bank, was required to produce a Rule 30(b)(6) witness to testify about information originating in Israel: Even if Hapoalim is a non-party witness and all of the documents or knowledgeable persons are in Jerusalem, compliance with the 30(b)(6) subpoena is not an … Continue Reading
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