Murphy & McGonigle, a securities litigation and regulatory boutique law firm, announced today that it has taken a full floor at 1185 Avenue of the Americas in Manhattan. The law firm needed additional space to accommodate increasing demand for its services from clients in the financial services industry. The firm represents domestic and foreign commercial banks, investment banks, securities broker/dealers, investment advisers, securities exchanges and hedge funds.
Murphy & McGonigle is featured in the Richmond, VA NBC 12 News feature on crowdfunding for personal goals.
New York's top court on Tuesday turned aside an appeal by CIFG Assurance North America Inc. and Syncora Guarantee Inc. to revive a claim for damages against GreenPoint Mortgage Funding Inc. over $1.8 billion in mortgage-backed securities after lower courts found the monoline insurers' claims were blocked by an earlier order.
In The Swatch Group Management Services Ltd. v. Bloomberg L.P., 12-2412-cv (2d Cir. Jan. 27, 2014), a Second Circuit panel unanimously decided that Bloomberg L.P. (Bloomberg), the prominent financial news and data reporting service, did not infringe on The Swatch Group Management Services Ltd's (Swatch) copyright in an invitation-only recorded Swatch earnings call, by obtaining a copy of the recording without authorization and making it available to Bloomberg's paying subscribers. Despite the failure of Bloomberg to manifestly transform the recording in any way before publication, the Second Circuit nonetheless held that Bloomberg's use of the recording qualified as fair use under Section 107 of the Copyright Act. The court emphasized that American investors and analysts are entitled to receive newsworthy financial information and that Bloomberg's conduct is protected by the First Amendment.
Multinational companies with substantive connections to the United States have long established systems to comply with the requirements of the U.S. Foreign Corrupt Practices Act (FCPA). In addition, many multinationals also have systems to comply with the anticorruption laws of the respective host countries where they operate (in particular, the UK Bribery Act and the EU Criminal Law Convention on Corruption). Fewer companies, however, have developed and put in place compliance systems designed specifically to ensure compliance with Chinese anticorruption laws. With the increased focus by Chinese regulators on anticorruption enforcement, companies must work to understand Chinese anticorruption law and take appropriate remedial measures in response.
The federal government has been heavily criticized for not pursuing legal claims against financial institutions and their senior executives in connection with the financial crisis.