Judge Rakoff

News & Analysis as of

Copyright Claim against Beyoncé Gets Bounced in Scène à faire Tour de Force

R&B sensation Beyoncé can go back to promoting her album Lemonade now that a federal court held that a copyright claim against her was nothing but a lemon. While the decision may seem a bit tart to the plaintiff, it is a...more

Caesars Back in Bankruptcy Court

Caesars Entertainment Operating Co. Inc. (“Caesars”) appeared in bankruptcy court for the third time this year to request that creditors be stayed from seeking an $11 billion dollar judgment against the casino operator’s...more

Insider Trading Before the Supreme Court: Dirks and Salaman, Part I

One of the most closely watched cases of the coming Supreme Court term is Salman v. U.S., No. 15-628, the Ninth Circuit’s insider trading decision penned by Judge Rakoff. The issue for decision is the meaning of the “personal...more

Federal Court Decision Provides Useful Guidance to Companies Offering Products and Services Pursuant to Online Terms of Use

On July 29, 2016, Judge Jed Rakoff of the U.S. District Court for the Southern District of New York issued an opinion and order in Meyer v. Kalanick, denying Uber Technologies' motion to compel arbitration of a consumer's...more

Judge Rakoff Holds a 3-D “Magic Trick” Implemented With Software Is Not Equivalent to One Implemented With Hardware

On April 24, 2016, District Judge Jed S. Rakoff (S.D.N.Y.) ruled that defendants Nintendo Co., Ltd. and Nintendo of America, Inc.’s (collectively, “Nintendo”)’s 3DS pocket gaming console does not infringe Tomita Technologies...more

The Department of Justice's Focus on Individual Accountability for Corporate Wrongdoing

The Department of Justice's Focus on Individual Accountability for Corporate Wrongdoing - The Department of Justice (DOJ) recently issued a memo reiterating its commitment to the criminal and civil investigation and...more

DOJ uses White Collar Prosecution for Election-Season Rabble Rousing

Beating their chests and breathing fire to rouse the polity, the Department of Justice recently came out with an announcement as earth shattering as the sun rising. The DOJ proclaimed it has adopted new policies to prioritize...more

The Circuits Are Split: Are Tangible Benefits Required for Insider Trading Liability?

The Ninth Circuit’s recent decision calls into question the Second Circuit’s definition of “personal benefit” for insider trading liability in criminal prosecutions. On July 6, 2015, United States District Court Judge...more

This Week In Securities Litigation

The Ninth Circuit upheld a conviction for illegal tipping, following Dirks but raising doubt regarding its adherence to Newman in an opinion authored by Judge Rakoff, sitting by designation. The Commission filed settled...more

Business Litigation Report - April 2015

In This Issue: - Main Article: ..Insider Trading After United States v. Newman, the Second Circuit’s Landmark Decision Limiting Liability of Downstream Recipients of Insider Information - Noted With...more

The Bryant Park Hotel Denied Preliminary Injunction in Trademark Dispute

The Bryant Park Hotel has been using its registered trademarks, including the well-known mark THE BRYANT PARK HOTEL, in connection with hotel, restaurant, and bar services since 2001, but U.S. District Judge Rakoff found that...more

Insider Trading Recklessness and Kevin Love’s Shoulder

A couple of weeks ago I expressed skepticism about the ultimate impact of Judge Rakoff’s recent opinion in SEC v. Payton. In it, he held that for purposes of a motion to dismiss, the SEC had adequately alleged insider...more

Southern District Allows SEC Insider Trading Case to Proceed, Distinguishing Newman

A recent decision from the United States District Court for the Southern District of New York allowing a U.S. Securities and Exchange Commission (SEC) civil enforcement action to proceed against two former stockbrokers for...more

Will Judge Rakoff Get His Wish? – Changes to Federal Sentencing Guidelines May Alter the Plea Bargaining Process

In an article last fall, U.S. District Judge Jed Rakoff lamented the prevalence and process of plea bargaining in today’s criminal justice system. While plea bargains currently resolve an estimated 97 percent of federal...more

Remote Tippees Beware: Even if the DOJ Can’t Reach You After Newman, The SEC Can

The fall-out from the Second Circuit’s decision in U.S. v. Newman continued last week in SEC v. Payton, when Southern District of New York Judge Jed S. Rakoff denied a motion to dismiss an SEC civil enforcement action against...more

Constitutional Challenges to SEC Administrative Proceedings

May defendants charged in SEC administrative proceedings challenge the constitutionality of those proceedings in federal district court? The determination of whether district courts have subject matter jurisdiction over such...more

Insider Trading: Does Payton Begin the Erosion of the Newman Tipping Test?

The Second Circuit’s decision in U.S. v. Newman, 773 F. 3d 438 (2nd Cir. 2014) regarding the personal benefit test in insider trading either radically altered the law or just reaffirmed the Supreme Court’s decision in Dirks...more

Court Upholds SEC’s Insider-Trading Complaint and Questions Second Circuit’s Newman Decision

U.S. District Judge Jed Rakoff issued a decision in SEC v. Payton (S.D.N.Y. Apr. 6, 2015) denying the defendants’ motion to dismiss a civil insider-trading suit filed by the SEC. The court held that the SEC’s complaint had...more

FCPA Compliance and Ethics Report-Episode 134, Judge Rakoff, Judge Leon and their comments on DPAs, with the FCPA Professor [Video]

In this episode, the FCPA Professor and myself continue our exploration of DPAs and NPAs through the recent book review of Judge Rakoff and rejection of a DPAs by Judge Leon in an export control case. ...more

FCPA Compliance and Ethics Report Episode 129-Judge Rakoff, Judge Leon and Individual Prosecutions Under the FCPA [Video]

Today I discuss the book review by Judge Rakoff in the New York Review of Books, the denial of approval of the deferred prosecution agreement by Judge Leon and individual prosecutions in the FCPA....more

Court Declines to Vacate Jury Verdict in Countrywide FIRREA Lawsuit

On February 3, Judge Jed S. Rakoff of the United States District Court of the Southern District of New York denied Bank of America Corporation’s and Rebecca Mairone’s motion for judgment as a matter of law, or, in the...more

"Ruling on Extraterritoriality May Protect Foreign Investors in US Bankruptcies"

The Bankruptcy Code authorizes a bankruptcy trustee to avoid (i.e., obtain the return of) certain types of prepetition property transfers so that the bankrupt estate can be divided among creditors fairly. For example, a...more

SEC’s Administrative Proceedings: Where One Stands Appears to Depend on Where One Sits

As we have previously reported, practitioners and judges alike have recently been questioning the SEC’s increased use of administrative proceedings. Defense lawyers complain that administrative proceedings, which have...more

Critics Question SEC’s Increasing Use of Administrative Enforcement Proceedings

The SEC is increasingly bringing enforcement actions in its administrative forum rather than federal district court, setting the stage for a legal and policy battle over this tactic. The SEC’s approach has been made...more

SEC’s Increased Use of Administrative Proceedings Draws Criticism and Legal Challenges

The SEC’s plan to bring more enforcement actions as administrative proceedings before its own administrative law judges rather than in the federal district courts — even in insider trading cases — has been drawing increasing...more

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