October 19, 2016

Charles Cantine quoted in "Storage Companies in one of 'Largest Ever' Trademark Settlements"

WORLD INTELLECTUAL PROPERTY REVIEW | Charles E. Cantine, partner in Stroock's Intellectual Property Practice Group, was quoted in a World Intellectual Property Review article which discusses a $41.1 million settlement in favor of the firm's client PODS Enterprises LLC over U-Haul International Inc. in a trademark dispute involving the use of the word "pod." The settlement preserves one of the largest jury verdicts in a trademark case and also the largest corrective advertising award.

  • October 21, 2016

    Brian Diamond and Lior J. Ohayon quoted in “Opportunity Abounds Despite Q3 Dip For PE Real Estate Deals”

    LAW360 | Brian Diamond, co-chair of Stroock’s Real Estate Practice Group, and Lior J. Ohayon, chair of Stroock’s Private Funds Practice Group, were quoted in a Law360 article which discusses that although the volume of private equity real estate deals slid in the third quarter, the sector is healthy and ripe for investment....Read More

    October 18, 2016

    Nicole Runyan and Jonathan Kusko quoted in "Proposed Tax Rule Asks: Is Your Commodity a Security?"

    BOARD IQ | Nicole M. Runyan, partner in Stroock's Investment Management Practice Group, and Jonathan S. Kusko, of counsel in Stroock's Tax Practice group, were quoted in a Board IQ article that discusses a recent Internal Revenue Service rule proposal that would require funds with commodities holdings to determine if those investments are securities. ...Read More

  • October 13, 2016

    Stroock Secures One of the Largest Trademark Verdicts On Record

    PRESS RELEASE | Stroock & Stroock & Lavan LLP has secured, on behalf of its client PODS Enterprises, LLC. (PODS), a $41.4 million settlement, one of the largest trademark settlements on record, in its long running litigation with U-Haul International, Inc. (U-Haul). In addition to paying PODS $41.4 million, U-Haul agreed that the broad permanent injunction imposed by the District Court remains in full effect, and that it would not directly or indirectly challenge the validity of the PODS trademarks. The settlement ends more than four years of contentious litigation, which culminated in a two-week jury trial in Federal Court in Tampa, Florida, and an award that set new precedent for the scale of corrective advertising amounts for the purpose of correcting the public’s misconception or confusion resulting from U-Haul's improper conduct....Read More

    October 12, 2016

    Loryn Arkow and Jon Ziefert quoted in "Real Estate Players Turn To JVs For Flexibility"

    LAW360 | Loryn D. Arkow, partner in Stroock's Real Estate Practice Group, and Jon S. Ziefert, special counsel in Stroock's Real Estate Practice Group, were quoted in a Law360 article which discusses real estate developers and investors seeking out joint venture opportunities due to the flexibility of the structure, helping organizations to connect with capital in a complex market....Read More

  • October 12, 2016

    James Bernard and David Cheifetz quoted in Global Banking & Finance Review

    GLOBAL BANKING & FINANCE REVIEW | Global Banking & Finance Review, a UK-based financial news service, posted the firm's press release on Stroock client Grant Thornton International Ltd.'s dismissal from a federal lawsuit seeking $100 million in damages from numerous defendants for alleged securities law violations. ...Read More

    October 11, 2016

    Matt Siegal quoted in “Apple, Samsung Take Battle to US Supreme Court”

    AGENCE FRANCE-PRESSE | Matthew W. Siegal, a partner in Stroock's Intellectual Property Group, was quoted in an Agence France-Presse article which discusses the US Supreme Court case between Apple and Samsung over the design of the iPhone, which includes arguments over financial damages Samsung owes Apple for allegedly violating design patents....Read More

  • October 7, 2016

    Gail Suchman quoted in "Despite Progress, Big Obstacles Still Loom For Paris Deal"

    LAW360 | Gail Suchman, special counsel in Stroock's Environmental Law Practice Group, was quoted in a Law360 article on the landmark global climate change deal, brokered in Paris, securing enough official support to go into effect. Experts noted that the biggest hurdle will be signatory countries turning their financing goals into reality. ...Read More

    October 3, 2016

    Robert Plaze quoted in "Ernst & Young SEC Case Raises Questions Over Auditor Impartiality"

    INSIDE COUNSEL | Robert E. Plaze, a partner in Stroock's Investment Management Practice Group, was quoted in an Inside Counsel article which discusses the lessons learned by general counsel about auditor impartiality following a Securities and Exchange Commission investigation on Ernst & Young auditors. ...Read More

  • October 1, 2016

    Stroock Represents Grant Thornton International Ltd in Successful Dismissal of Louisiana Securities Law Claims

    PRESS RELEASE | Stroock & Stroock & Lavan LLP client Grant Thornton International Ltd was dismissed from a federal lawsuit seeking $100 million in damages from numerous defendants for alleged securities law violations. On September 15, 2016, District Court Judge Shelley D. Dick of the Middle District of Louisiana dismissed all claims against Grant Thornton International Ltd, which have been pending since 2013, for lack of personal jurisdiction....Read More


Matthew Siegal to Speak at Centerforce's 5th Annual IP Strategy Summit

Stroock will be a sponsor of Centerforce's 5th Annual IP Strategy Summit. The event will take place October 27, 2016 in New York, NY.

Partner Matthew Siegal will moderate the roundtable discussion "The Madness in the Method: Valuing, Enforcing and Drafting Method Claims in Light of Recent Decisions."

  • October 25-26, 2016 - Platts' 18th Annual Financing US Power Conference
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  • October 27, 2016 - Centerforce's 5th Annual IP Strategy Summit
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  • November 10-11, 2016
    December 5-6, 2016
    - PLI's 18th Annual Commercial Real Estate Institute
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  • October 18, 2016 | STROOCK SPECIAL BULLETIN

    "SEC Issues Final Rules on Liquidity Risk Management, Reporting Modernization and Swing Pricing"

    On October 13, 2016, the Securities and Exchange Commission (the "SEC") adopted three sets of final rules and rule amendments, as well as new forms and form amendments, relating to liquidity risk management, reporting modernization and swing pricing for funds. This Stroock Bulletin is meant to provide you with a brief and timely summary of the SEC’s rulemakings.

    We are preparing a subsequent Stroock Bulletin with more detail about these new and amended rules and forms, as well as the potential impact for funds and their boards.

  • October 12, 2016 | STROOCK SPECIAL BULLETIN

    "D.C. Circuit’s PHH Ruling Reins in CFPB"

    On October 11, 2016, the Court of Appeals for the District of Columbia Circuit held in PHH Corporation v. Consumer Financial Protection Bureau, case no. 15-1177, that the CFPB's structure of a single independent director, removable only for cause, violates the separation of powers provisions of Article II of the Constitution. In addition, the Court unanimously (1) held that CFPB Director Richard Cordray's prior order that the CFPB could enforce its new interpretation of the Real Estate Settlement Procedures Act ("RESPA") violated PHH's constitutional due process rights and (2) rejected the CFPB's contention that it is not subject to any statute of limitations when bringing a RESPA enforcement action through the administrative adjudication process.

    The Court's holdings are major setbacks for the CFPB, particularly its enforcement activities. The decision may temper the CFPB's expansive view of its authority, which recently had been emboldened following the publicity surrounding, including the CFPB's taking credit for, the recent actions taken against Wells Fargo, as well as the CFPB's summary judgment victory in its litigation against CashCall. This Stroock Special Bulletin provides an overview of the ruling and its potential impact on the structure of and future enforcement actions by the CFPB.

  • October 10, 2016 | STROOCK SPECIAL BULLETIN

    "Wrap Fee Programs in SEC's Crosshairs: Program Participants on Notice"

    Since July 2016, the Securities and Exchange Commission has announced three separate enforcement actions and simultaneous settlements against wrap fee program participants. Two of those actions involved program sponsors, while the other action involved a third-party manager to multiple wrap fee programs. This Stroock Special Bulletin

    discusses these recent enforcement actions, in which the SEC focused on the adequacy of the program participants' compliance policies and procedures and their disclosures with respect to brokerage services and trading practices, and the potential broader implications of those actions on wrap fee program participants.

  • October 5, 2016 | STROOCK SPECIAL BULLETIN

    "IRS Issues New 'No Rule' Area and Related Proposed Regulations: Potential Implications for Regulated Investment Companies"

    On September 27, 2016, the Internal Revenue Service (the "IRS") issued proposed regulations under Section 851 of the Internal Revenue Code of 1986, as amended (the "Code") (the "Proposed Regulations") and a related Revenue Procedure impacting the ability of regulated investment companies ("RICs") (particularly, RICs seeking to generate commodity market exposure) to satisfy the gross income and asset diversification tests for RIC status under the Code. As discussed in this Stroock Special Bulletin, the Revenue Procedure establishes a new "no rule" area that impacts the definition of "security" for purposes of the RIC qualification tests under Subchapter M of the Code.

    This Stroock Special Bulletin further discusses the Proposed Regulations that, among other things, will have the effect of requiring certain foreign entities in which a RIC invests (including offshore commodity investment subsidiaries) to make current distributions to match the RIC's income inclusions in respect of those foreign entities.


    "Intern or Employee? The Circuits Are Split"

    Are student interns employees entitled to minimum wage and overtime under the Fair Labor Standards Act of 1938 (FLSA)? The answer to what would seem to be a straightforward question depends upon multiple factors, and those factors vary from circuit to circuit. In a case of first impression, Glatt v. Fox Searchlight Pictures, Inc., the U.S. Court of Appeals for the Second Circuit recently joined the U.S. Courts of Appeal for the Fourth, Fifth, and Sixth Circuits in adopting the "Primary Beneficiary" test for determining when student interns are covered by the FLSA.

    Shortly thereafter, the U.S. Court of Appeals for the Eleventh Circuit adopted the test propounded by the Second Circuit. The U.S. Court of Appeals for the Tenth Circuit, on the other hand, applies the "Totality of the Circumstances" test.