May 20, 2016

Stroock Closes 1285 Avenue of the Americas Sale

LAW360 | Steven Horowitz, a partner in Stroock's Real Estate Practice Group, was mentioned in Law360's article announcing that RXR Realty LLC has finalized a deal to purchase 1285 Avenue of the Americas in New York City from a JPMorgan Asset Management-AXA Financial joint venture in one of the year's largest U.S. real estate deals.

  • May 11, 2016

    Gail Suchman quoted in "EPA To Watch And Learn As Calif. Freight Plan Takes Shape"

    LAW360 | Gail Suchman, special counsel in Stroock's Environmental Law Practice Group, was quoted in a Law360 article that discusses how California's recently unveiled ambitious freight emissions reduction proposal could serve as a model for future national regulation, but the U.S. Environmental Protection Agency may scrutinize the program's successes and failures before following in its footsteps. To read the article, please click here (subscription required). ...Read More

    May 10, 2016

    Quyen Truong quoted in "Seeking to Squash Mandatory Arbitration, CFPB Proposal Draws Praise and Venom"

    COMPLIANCE WEEK | Quyen Truong, a partner in Stroock's Financial Services/Class Action Practice Group, was quoted in Compliance Week's article that discusses arbitration requirements in financial contracts that limit the ability to sue or take part in a class-action lawsuit when there is a dispute and, instead, offer an arbitration hearing to resolve matters. To read the article, please click here (subscription required)....Read More

  • May 6, 2016

    James Sammataro and Jose Garcia-Tuñon were mentioned in "Sean Penn, Lee Daniels End Feud With Apology, Donation; Miami Lawyers Play Role"

    DAILY BUSINESS REVIEW | James G. Sammataro, a partner in Stroock's Entertainment and Litigation Practice Groups and managing partner for the firm's Miami office, and associate Jose Garcia-Tuñon represented producer Lee Daniels in actor Sean Penn's defamation lawsuit and were mentioned in Daily Business Review's article that discusses the lawsuit settlement. To read the article, please click here (subscription required)....Read More

    May 4, 2016

    Schuyler Moore is quoted in "VR: Theater Owners' Next Biggest Challenge"

    SNL KAGAN MEDIA & COMMUNICATIONS REPORT | Schuyler M. Moore, a partner and head of Stroock's Entertainment Practice Group, was quoted in SNL Kagan Media & Communications Report's article that discusses how virtual reality is the final step in the process for movie theaters to adapt to technological advancements. To read the article, a subscription is required....Read More

  • May 4, 2016

    Quyen Truong, Former Assistant Director & Deputy General Counsel of CFPB, Joins Stroock in Washington D.C.

    PRESS RELEASE | Quyen Truong, former Assistant Director and Deputy General Counsel of the Consumer Financial Protection Bureau (CFPB), has joined Stroock & Stroock & Lavan LLP as a partner in the firm’s Washington, DC office. Ms. Truong, a member of the firm’s national Financial Services/Class Action Practice Group, was instrumental in building the new federal agency while implementing the Dodd-Frank Act for finance reform. Among other responsibilities, she advised leadership on analysis of consumer financial laws, oversaw review of all enforcement actions and responded to legal challenges to the agency....Read More

    May 2, 2016

    Shira A. Scheindlin quoted in "Scheindlin Assumes New Roles at JAMS, Stroock"

    NEW YORK LAW JOURNAL | Shira A. Scheindlin, who has joined Stroock as of counsel in its Litigation Practice Group, was featured in the New York Law Journal's article that discussed her new roles as an arbitrator and mediator for JAMS and of counsel at the firm....Read More

  • April 22, 2016

    James G. Sammataro is quoted in "Judge Tosses Case Alleging Cartel Conspiracy Among Talent Agencies"

    LOS ANGELES DAILY JOURNAL | James G. Sammataro, a partner in Stroock's Entertainment and Litigation Practice Groups and managing partner for the firm's Miami office, was quoted in a Los Angeles Daily Journal article that discusses how U.S. District Judge Beverly Reid O’Connell dismissed boutique talent agency Lenhoff Enterprises Inc.'s case that Hollywood's "Big Four" talent agencies formed an oligopoly to box out competitors. ...Read More

    April 22, 2016

    Eva C. Talel is quoted in "Insert a Gym, Then a Lounge: Older Buildings Add Amenities"

    THE NEW YORK TIMES | Eva C. Talel, a partner in Stroock's Real Estate Practice Group and the head of its Co-op and Condominium Board Representation Group, was quoted in The New York Times' article that discusses how older residential buildings in New York City are refurbishing or increasing their offerings in an effort to compete with the thousands of square feet in amenities indigenous to newly constructed buildings. ...Read More


Lior Ohayon and Diana Brummer to Speak at IMN's US Real Estate Opportunity & Private Fund Investing Forum

Stroock Partners Lior Ohayon and Diana Brummer will be speaking at IMN's 17th Annual US Real Estate Opportunity & Private Fund Investing Forum. The event will take place June 13-14, 2016 in New York, NY.

Mr. Ohayon will participate in the panel discussion "Fee/Promote Structures and Terms in a Fee-Challenged Environment" and Ms. Brummer will participate in the panel discussion "Joint Venture Best Practices for Operating Agreements, Structures & Beyond."

  • June 2, 2016 - REFI Breakfast Briefing: New York's Condo Market
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  • June 7, 2016 - CohnReznick International Commercial Real Estate Forum 
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  • June 7, 2016 - Restaurant, Retail and Resiliency in Lower Manhattan
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    "NISPOM Amendments Affect All Cleared Contractors"

    On May 18, 2016, the Under Secretary of Defense for Intelligence ("USD(I)") released a series of amendments to the National Industrial Security Program Operating Manual ("NISPOM") DoD 5220.00-M. The amendments, entitled Conforming Change 2 ("Change 2"), create several new requirements for companies in the National Industrial Security Program ("NISP"), i.e., U.S.

    Government contractors who require access to U.S. classified information. All of the changes discussed in this Stroock Special Bulletin must be implemented by contractors within six months (by November 18, 2016). This Stroock Special Bulletin summarizes the more significant changes to the NISPOM.


    "Supreme Court Rules In Spokeo, Inc. v. Robins: Injury Must Be Particularized And Concrete"

    On May 16, 2016, the United States Supreme Court issued its much-anticipated ruling in Spokeo, Inc. v. Robins, No. 13–1339, addressing the standing requirement for civil claims asserting violations of the federal Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq. (the "FCRA"). Finding the Ninth Circuit's constitutional standing analysis "incomplete" for not considering whether plaintiff alleged both a "particularized" injury as well as a “concrete injury in fact,” the Supreme Court vacated and remanded with instructions to consider both aspects of the injury-in-fact requirement. This Stroock Special Bulletin discusses the Spokeo opinion, which on the whole appears to be a victory for the defense, potentially allowing arguments to limit class actions to persons with "concrete" injury.

    The Supreme Court's analysis, while based on the FCRA, is general enough to potentially apply to a wide range of statutes that permit statutory damages without expressly requiring proof of actual damages, such as the Telephone Consumer Protection Act, 47 U.S.C. § 227 et seq. (the "TCPA"), the Real Estate Settlement Procedures Act, 12 U.S.C. § 2601 et seq., the Truth in Lending Act, 15 U.S.C. 1601 et seq., and the Drivers Privacy Protection Act, 18 U.S.C. § 2721 et seq.


    "The Role of the Condominium Act in the Creation of Affordable Housing"

    On January 25, 2016, the Department of Law released a guidance memo entitled, "No-Action Letter Requests for Projects That Include an Affordable Housing Component or Involve the New York City Department of Housing Preservation and Development" (the "NYAG Memo"). The timing of the memo nicely coincides with the recent adoption by the New York City Council of the de Blasio administration’s Mandatory Inclusionary Housing Program ("MIH").

    Because it is almost a foregone conclusion that any MIH program will be a mixed-income project with a blend of financing and possible tax incentives such as 420-c, Article XI or the successor to the 421-a tax exemption, the creation of a condominium is perhaps a preferred structure to properly allocate subsidies.

    This Stroock Special Bulletin explains the salient requirements of the No-Action Application, with particular focus on areas of concern to MIH projects, although relevant for other mixed-income projects as well.


    CFPB Publishes Long-Awaited Proposed Rule Precluding Class-Action Waivers in Arbitration Agreements

    On May 5, 2016, the Bureau of Consumer Financial Protection ("CFPB") released its long-awaited Proposed Rule (and Official Interpretations) regarding arbitration provisions in agreements for consumer financial products and services, pursuant to section 1028(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). This Stroock Special Bulletin provides an overview of the Proposed Rule which, as predicted, would prohibit covered providers, essentially any consumer financial services company, from including or enforcing arbitration provisions in consumer financial services agreements that prevent filing or participating in class-action lawsuits. If finally approved, the Rule will apply to new consumer financial services agreements entered into more than 180 days after the effective date of the Final Rule.

    Importantly, the Rule will generally not be retroactive from its effective date. Accordingly, subject to a potentially limited exception discussed in this Special Bulletin, arbitration agreements with class-action waivers that are in place as of that date will not be subject to the Rule. The CFPB has not specifically addressed whether it will treat existing class-action waivers in arbitration agreements as unfair, deceptive or abusive.

  • May 4, 2016 | NEW YORK LAW JOURNAL

    "Increased Vigilance For Secondhand Smoke"

    Since our 2014 column dealing with secondhand smoke, co-op and condominium boards continued to be challenged by secondhand smoking claims made by apartment owners, alleging negligence, nuisance and breach of contract and the warranty of habitability. But until the March 2016 decision in Reinhard v. Connaught Tower Corp., courts had generally afforded boards flexibility and tolerance in addressing secondhand smoke. The Connaught ruling, although it is currently being appealed to the Appellate Division, First Department, may mark a shift in such judicial forbearance, and therefore impact the obligations of boards to remediate/address secondhand smoke complaints.

    In addition, the changing landscape of marijuana use legalization and New York State legislation increasingly being proposed to restrict smoking and secondhand smoke may further heighten the challenges that boards and managers will have to address. This column updates our prior columns dealing with secondhand smoke, analyzes the 2016 Connaught decision and other recent case law, and provides recommendations for boards and managers in dealing with secondhand smoke.