April 27, 2017

Jonathan Canfield Selected as 2017 “Outstanding Young Restructuring Lawyer” by Turnarounds & Workouts

TURNAROUNDS & WORKOUTS | Jonathan Canfield, a partner in Stroock’s Financial Restructuring group, has been recognized by Turnarounds & Workouts as one of 2017's "Outstanding Young Restructuring Lawyers," an honor given to only a dozen attorneys in the country. The honor noted Mr. Canfield's efforts in advising lenders and noteholders from multinational companies in different industries such as entertainment, telecommunications, and government services.

  • April 21, 2017

    Todd Lenson mentioned in "Don't Miss It: Hot Deals & Firms We Followed This Week"

    LAW360 | Todd E. Lenson, the Co-Practice Group Leader of Stroock's Corporate Department, was mentioned in a Law360 article that discusses Ametek Inc.'s plans to buy out Mocon, which provides laboratory and field gas analysis instrumentation to research laboratories, in a deal worth $182 million. ...Read More

    April 20, 2017

    Stephen Newman quoted in "Your Favorite Retailer Has Filed For Bankruptcy; Now What?"

    FORBES | Stephen J. Newman, a partner in Stroock's Financial Services/Class Action Practice Group, was quoted in a Forbes article that discusses retailers filing for chapter 11 bankruptcy protection and what it means for consumers. ...Read More

  • April 18, 2017

    Stroock Featured in "The Best of 2016: Deals, Dealmakers, Places & Placemakers"

    REAL ESTATE FORUM | In a strong display of the recent success of Stroock's Real Estate Practice, Real Estate Forum has recognized five separate transactions in which the firm played a pivotal advisory role in this year's "Best of 2016: Deals, Dealmakers, Places & Placemakers" special issue. Highlighted for their enormous impact on the industry, national and local real estate markets, the annual report spotlights the most significant transactions and projects, and the players behind them, that were completed in 2016. ...Read More

    April 12, 2017

    Pierre Yanney quoted in "Fed. Circ. Upholds Rejection Of Wireless Pointer Patent"

    LAW360 | Pierre R. Yanney, a partner in Stroock's Intellectual Property Practice Group, was quoted in a Law360 article that discusses the Federal Circuit siding with Stroock client Movea Inc. in a dispute over a patent for a gyroscope-like mechanism in a wireless remote, agreeing that the patent held by a rival is not valid. ...Read More

  • April 12, 2017

    Ross Moskowitz quoted in "Key Aspects of 421a Remain Foggy"

    THE REAL DEAL | Ross F. Moskowitz, a partner in Stroock's Real Estate Practice Group and the head of its Land Use Practice Group, was quoted in The Real Deal in an article that discusses the new 421a developer tax exemption, now called "Affordable New York." ...Read More

    April 7, 2017

    Stroock Prevails at Federal Circuit on Behalf of Digital Product Maker Movea Inc.

    PRESS RELEASE | An intellectual property team from Stroock & Stroock & Lavan LLP won its third victory in a row on behalf of client Movea Inc. when the Court of Appeals for the Federal Circuit affirmed on April 6 an earlier ruling by the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office.

    Movea, a maker of digital motion-sensing equipment for business, home entertainment, and educational uses, was advised by Stroock patent litigator Pierre Yanney, along with associate Stephen Underwood. (Movea was acquired during the course of the case by InvenSense, a maker of chip-based sensor systems.)...Read More


Join James Bernard at FIA's 39th Annual Law & Compliance Division Conference on the Regulation of Futures, Derivatives and OTC Products

Stroock Partner, James Bernard, will be speaking at FIA's "39th Annual Law & Compliance Division Conference on the Regulation of Futures, Derivatives and OTC Products" on May 3-5, 2017 in Washington, DC.

Mr. Bernard will participate in a panel discussion on ethics in the context of a CFTC investigation.

  • May 3-5, 2017 - FIA's 39th Annual Law & Compliance Division Conference on the Regulation of Futures, Derivatives and OTC Products
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  • May 4-5, 2017 - PLI's 22nd Annual Consumer Financial Services Institute
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  • May 4, 2017 - New York City Bar's "Current Issues in Affordable Housing in New York City"
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    Good News for Developers: New York Adopts the 421-a "Affordable Housing NY Program"

    More than a year after New York State’s 421-a tax exemption program expired on January 16, 2016, the state legislature has adopted a 421-a replacement law, known as the “Affordable Housing NY Program.” The law, which passed following extensive back and forth in the legislature on issues such as an expansion of the maximum number of units for a condominium project, is almost unchanged from the version introduced by Governor Cuomo earlier this year.

    The most notable change is that the New York City Comptroller, rather than HPD, will be the agency charged with overseeing newly added wage mandates that apply to certain projects with 300 or more units in qualifying areas. The new law resurrects the provisions of the Rent Act of 2015 that require every project receiving the 421-a tax exemption to meet certain on-site affordable housing requirements, which vary depending on the specifics of the project.

    Now that the law is on the books, the next step will be structuring new deals.

    Existing tools, such as inclusionary housing requirements and the requirements for structuring condominiums, will be paramount for making deals work. Careful attention must be paid to meeting the affordability requirements, and how to layer additional subsidies and requirements into a deal.

    Stroock stands ready to advise developers on these requirements and on how best to structure deals to take advantage of the Affordable Housing NY Program.


    Stroock Reports – Public Employee Law

    Welcome to the Spring 2017 issue of Stroock Reports – Public Employee Law. Our cover story –"With America's Attention on Supreme Court Nominations, Congress Pushes Federal 'Right-to-Work' Bill" – provides an analysis of recent attacks on agency fees and developments in the federal and state legal landscapes that are threatening or protecting such fees.

    This issue also reports on the developing Supreme Court jurisprudence regarding free speech in the public employment sector, and addresses the implications of attempts to amend the New York State Constitution with so-called ethics reforms, the status of the soon to be implemented Paid Family Leave law, the NLRB's recognition of the right of teaching assistants in private universities to organize, and whether the City of Miami can unilaterally reduce the wages, pension benefits and other economic terms of employment of police union members because of a declared "financial urgency."

    We are pleased to provide this issue to our public sector union clients, government relations clients and other friends of the firm.

    Let us know if you find the material informative.


    Alan M. Klinger, co-managing partner

    Dina Kolker, special counsel


    "Quoth the DOL, 'Nevermore'?"

    On April 4, 2017, the Federal Register posted a notice of delay of 60 days by the U.S. Department of Labor of the first scheduled applicability date for the so-called investment advice "fiduciary" (or conflict of interest) rule under the Employee Retirement Income Security Act of 1974, as amended, originally scheduled for April 10, 2017. This Stroock Special Bulletin provides an overview of the notice, which revises the first "applicability date" to now be June 9, 2017.

    The January 1, 2018 "applicability date" remains unchanged. The Fiduciary Rule would impact many accounts subject to Title I of ERISA and other arrangements subject to similar provisions of the Internal Revenue Code and those financial services companies that deal with them.


    2017 Annual Overview of California's Unfair Competition Law and Consumers Legal Remedies Act

    Class action lawyers in California wield two powerful tools: the Unfair Competition Law, California Business and Professions Code sections 17200 - 17209 ("UCL"); and the Consumers Legal Remedies Act, California Civil Code sections 1750 - 1784 ("CLRA"). With its sweeping liability standards and broad equitable remedies, the UCL has long been a weapon of choice for plaintiffs' lawyers. The CLRA is more defined in structure, but no less potent. The plaintiffs' bar as well as California regulators and prosecutors, including the Attorney General and local district attorneys, continue to actively pursue claims under both of these consumer protection statutes.

    This article discusses decisions from California and Federal courts in 2016 and years prior that provide important direction in areas of liability, reliance and causation, preemption, injunctive relief, and other issues under the UCL and CLRA.