Latest news with #Law360
TechCrunch
02-06-2025
- Business
- TechCrunch
NSO Group asks judge for new trial, calling $167 million in damages ‘outrageous'
In May, a jury ruled that spyware maker NSO Group must pay $167 million in damages to WhatsApp for a 2019 hacking campaign that targeted more than 1,400 people. Calling the damages ruling 'outrageous,' 'blatantly unlawful,' and 'unconstitutionally excessive,' NSO Group now wants the judge overseeing the case to reduce the amount, or order a new trial. On Thursday, the company filed a motion for a new trial or a 'remittitur,' which is a procedure that allows a court to reduce an excessive verdict. Contact Us Do you have more information about NSO Group, or other spyware companies? From a non-work device and network, you can contact Lorenzo Franceschi-Bicchierai securely on Signal at +1 917 257 1382, or via Telegram and Keybase @lorenzofb, or Do you have more information about NSO Group, or other spyware companies? From a non-work device and network, you can contact Lorenzo Franceschi-Bicchierai securely on Signal at +1 917 257 1382, or via Telegram and Keybase @lorenzofb, or email . The filing was first reported by legal news outlets Law360 and MLex. In the court filing, NSO Group's lawyers said that the 'outrageous punitive award exceeds the maximum lawful punitive damages award in this case by many orders of magnitude.' The lawyers argued that the amount ordered in punitive damages — the $167 million — violates limits that say the jury should not award damages 'greater than four times compensatory damages,' which were $444,719 in this case. The lawyers also argued that the jury's award is 'unlawful because it reflects the improper desire to bankrupt NSO out of general hostility toward its business activities other than the limited conduct for which punitive damages could be awarded in this case.' WhatsApp spokesperson Margarita Franklin told TechCrunch in a statement that WhatsApp will keep fighting the case. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW 'For the past six years, NSO has tried to avoid accountability at every turn. This is another expected attempt to claim impunity, in response to a strong message from the jury of U.S. citizens deciding to punish NSO for its 2019 illegal attack against an American company and its users,' said Franklin. 'We'll respond to the court as we continue to pursue a permanent injunction against NSO to prevent this spyware firm from targeting WhatsApp and our users ever again.' NSO Group also said in its court filing that the amount awarded in damages 'grossly exceeds NSO's ability to pay,' and 'reflects an improper desire to punish NSO.' During the trial, NSO Group already argued that it is in dire straits financially.
Miami Herald
23-05-2025
- Business
- Miami Herald
Thousands of NYC rentals just hit bankruptcy court
Renting an apartment in New York City was never easy. Everyone wants to live and build a career in a city that never sleeps, the place "dreams are made of." That's what makes the competition in the city so intense and allows landlords to impose strict requirements. We all know what some of these are by now - a strong credit score (600-680), proof of income 40-50 times the monthly rent, and sometimes a guarantor or co-signer. Related: Scott Galloway sends strong message on home buying, housing crisis Then, there are upfront costs with broker fees, security deposit, and of course, the first month's rent. Despite the obstacles, rental demand is still strong, most likely due to high homeownership costs. In the first quarter of the year, the median asking rent for 0-2 bedrooms in the Big Apple was around $3,365, up by 7.2% year over year. Rent for 3+-bedroom units grew 1.2% compared to the first quarter of 2024, reaching $4,773. All boroughs saw year-over-year rent growth, with Manhattan leading at 5.5%, followed by Brooklyn at 5%, Queens at 4.3%, and the Bronx at 0.7%, according to Realtor. Yet even in a strong rental market, not all landlords are staying afloat. One of New York City's largest landlords has put dozens of apartment-holding companies into bankruptcy. A famous name in the New York City real estate market, Pinnacle Group CEO Joel Wiener, has placed dozens of apartment-holding companies into Chapter 11 bankruptcy. The filings directly impact thousands of rental units across Manhattan, Brooklyn, Queens, and the Bronx. The bankruptcy filings list between $500 million and $1 billion in assets and liabilities, and affect around 82 holding companies tied to more than 5,000 rental units. Weiner is trying to consolidate the case under the entity Broadway Realty I Co. LLC, which owns a 73-unit building at 4530 Broadway, according to Law 360. Under Chapter 11, businesses and individuals can reorganize their financial affairs in a process where a debtor can continue to operate their business while developing a plan to repay creditors. More on Chapter 11 bankruptcy: Another major trucking company files Chapter 11 bankruptcyAnother popular pizza dining chain files Chapter 11 bankruptcyBeloved taco brand making post-Chapter 11 bankruptcy return Several months ago, Flagstar Bank initiated foreclosure proceedings in state court against most of the 5,000 units that are part of the bankruptcy filing. Now, Chapter 11 pauses legal actions against the companies. Per the report, Pinnacle itself and its core affiliates are not part of the bankruptcy cases. The 20 largest unsecured creditors in the bankruptcy name a collection of construction-related firms including Liftco Elevator Group, Sentry Elevator Corp., and Eastern Elevator of New York, with each claiming a debt of more than $300,000. Utilities like the New York City Water Board, National Grid, and Con Edison are also among the creditors, each owed over $100,000. Wiener was also involved in a separate legal dispute over $1.75 million in unpaid legal fees to the firm Gibson Dunn that previously represented Pinnacle in a labor class-action case. Pinnacle Group has a long history of legal challenges, including past allegations of rent overcharges and tenant mistreatment. While the company has previously settled with state officials and tenant groups, this latest bankruptcy could be more challenging to resolve. So does this mean tenants are at risk? Currently, tenants shouldn't be at risk, because buildings are still operating, rent should be collected, leases are still valid, and maintenance should be ongoing. Also, New York is known for strong tenant protections. Related: Shark Tank's Kevin O'Leary sends strong message on Social Security However, there could be long-term consequences such as delayed repairs, potential property sales if the bankruptcy leads to liquidation, or uncertainty if new owners take over. The bankruptcy court will manage the restructuring as the holding companies work to reorganize debt and regain financial stability. The results will impact whether Flagstar Bank and other creditors are able to recoup their losses. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Business Insider
29-04-2025
- Business
- Business Insider
The chairman of a failed 'TikTok killer' pleaded guilty to lying to investors to inflate the company's stock
Roderick Vanderbilt was Vinco's chairman during a tumultuous period at the company. Its stock swung wildly on a string of splashy announcements — including plans to buy the National Enquirer — that failed to live up to their hype. Vinco's stock eventually collapsed, and it was delisted from the Nasdaq exchange in 2023. During a hearing on Friday, Vanderbilt pleaded guilty to a conspiracy charge and admitted to making misleading statements about Vinco, Law360 reported. He also said he hid the involvement of Ted Farnsworth, who previously ran the former owner of movie ticket service MoviePass, and with whom he had a romantic relationship. In 2024, a Business Insider investigation chronicled how Vinco's rise and fall followed a pattern similar to that of some other Farnsworth ventures, including MoviePass. Farnsworth previously pleaded guilty to defrauding investors in MoviePass' parent company, Helios and Matheson Analytics, from 2017 to 2019. The Department of Justice charged Farnsworth and others with conspiracy for using "the same strategy to defraud" investors in Vinco, which he also pleaded guilty to. "I did everything Ted asked me to do and never questioned him," Vanderbilt said during the Friday hearing, Law360 reported. "I concealed my relationship with Ted from the board and shareholders and allowed others to use my signature, not telling investors and the public that the company was failing even though I knew it was." The docket entry for the scheduled hearing for a plea change is sealed. Vanderbilt's lawyer did not return a request for comment from Business Insider. In 2021, Vinco announced plans to merge with Zash Global Media and Entertainment, which Farnsworth and Vanderbilt cofounded. Vanderbilt joined Vinco's board as chairman later that year, while Farnsworth ran Zash and briefly served as Vinco's CEO, according to court documents. Under their helm, Vinco acquired a short-video app called Lomotif, which Farnsworth hyped as a "TikTok killer." Retail investors flocked to these and other announcements. But, behind the scenes, company insiders previously described to BI a company on the verge of collapse. The Department of Justice alleged in court documents that Vanderbilt and Farnsworth made "materially false and misleading representations relating to the businesses and operations of Vinco Ventures to artificially inflate the price of its stock and increase the volume of Vinco Ventures shares traded," from around November 2020 to September 2024.
New York Times
18-04-2025
- Politics
- New York Times
Former Cuomo Aide Settles Sexual Harassment Claim for $450,000
An aide who worked in former Gov. Andrew Cuomo's executive office has agreed to a $450,000 settlement in her lawsuit over claims that New York State officials had not done enough to prevent Mr. Cuomo's alleged sexual harassment against her, according to the settlement agreement obtained by The New York Times. The agreement ends a prolonged and bitter legal battle between the former aide, Charlotte Bennett, 29, and Mr. Cuomo, 67, over allegations made in 2021 that he inquired about her sex life, questioning whether she had monogamous relationships and if she liked older men. 'This settlement was mutually agreed upon by the parties and allows the State to minimize further cost to the taxpayers,' said Avi Small, a spokesman for Gov. Kathy Hochul, who replaced Mr. Cuomo when he resigned in August 2021. Mr. Cuomo, a Democrat who is now the leading contender in the New York City mayoral race, has long denied Ms. Bennett's assertions. He has gone to great lengths to dispute her allegations, as well as those of two other women who have sued him for sexual misconduct. His legal team has sought to pick apart their claims, subpoenaing their medical records among other things, and, in the case of Ms. Bennett, stating last year that he intended to sue her for defamation. Since the alleged misconduct occurred when he was in office, Mr. Cuomo's legal defense, which has costs tens of millions of dollars, has been largely subsidized by the state. His opponents in the mayoral race have tried to cast focus on this expense, arguing it was a misuse of taxpayer funds. Mr. Cuomo's lawyers have also accused Ms. Bennett in court documents of trying to turn public sentiment against him by repeatedly noting how much his legal defense cost the public. Ms. Bennett had also sued Mr. Cuomo in federal court in 2022, but dropped that lawsuit him against him in December, shortly before she was slated to be deposed. Shortly after her first public airing of the accusations, Mr. Cuomo apologized and acknowledged that he may have said things that were 'misinterpreted as an unwanted flirtation.' But by late last year, when Ms. Bennett dropped the lawsuit, Mr. Cuomo portrayed her decision as vindication of his long-held belief that the allegations against him were trumped up and that he had done nothing wrong. It was why, his aides said, he had engaged in such a zealous defense. Ms. Bennett said at the time that Mr. Cuomo 'can no longer use this lawsuit to harass me and my family.' Under the terms of the settlement, Ms. Bennett will receive a $100,000 payout for lost pay and personal injury among other things. Her lawyers will receive about $350,000 in reimbursed fees and other legal costs. The agreement was first reported by Law 360. Debra Katz, Ms. Bennett's lawyer, confirmed in a statement on Friday that her client had settled her lawsuit. 'Ms. Bennett's allegations were later supported by findings from the New York Attorney General's Office and the U.S. Department of Justice,' Ms. Katz said in the statement. 'Ms. Bennett is looking forward to moving on with her life.' Mr. Cuomo has long argued that the reports by the attorney general's office and the Justice Department were politically motivated and filled with falsehoods. 'The attorney general's discredited 2021 report about Governor Cuomo was pure politics from beginning to end, all at taxpayer expense, and today's nuisance settlement proves it,' Rich Azzopardi, a spokesman for the Cuomo campaign, said in a statement on Friday. 'If anyone ever questioned whether this situation was political from the start, today's taxpayer funded nuisance settlement is proof positive,' he added later. Mr. Azzopardi said the defamation case against Ms. Bennett would continue. Mr. Cuomo is still being sued by two other women. Another former executive assistant, Brittany Commisso, sued the former governor, along with several of his top aides for sexual harassment, as did an unnamed state trooper who accused him of inappropriate touching. Mr. Cuomo has denied harassing either woman.
Yahoo
05-04-2025
- Politics
- Yahoo
Families of COVID nursing-home victims blast Cuomo lawsuit being tossed: ‘He should be in prison'
Former Gov. Andrew Cuomo all but got away with murder this week when a federal judge tossed a lawsuit blaming his administration for thousands of COVID-19 deaths in nursing homes, disgusted relatives told The Post. Patricia Biondi, one of eight plaintiffs in the $10 million wrongful-death suit, called Manhattan federal Judge Katherine Polk Failla's Monday decision to dismiss the case over lack of evidence a 'bad joke,' adding Cuomo – the frontrunner in NYC's mayoral race — 'mismanaged the whole COVID crisis' as governor. 'He's just walking away scot free, and he has the nerve to run for office again?' said Biondi, 72, of Wappingers Falls, NY, whose husband of over 30 years, Michael, 77, died of the bug in November 2020 — just a month after checking into a Mohegan Lake nursing home for physical therapy. 'Cuomo should be in prison – not running for office,' she said. 'I think what he did was horrendous.' 'He's a real piece of work,' added Biondi, who said neither she nor her two daughters and four granddaughters got to say goodbye to Michael because of strict pandemic restrictions. Cuomo wound up striking a $5.1 million book deal to write a memoir about leading the state during the pandemic. Stacie Druckman, 52, said she holds Cuomo and his administration responsible for the April 2020 death of her 73-year-old father, Arthur Druckman, at a Bronx nursing home. Cuomo, she said, 'shouldn't be allowed to run' for mayor. 'People are forgetting what happened, but some people like me aren't,' she said. Both Biondi and Druckman said they want to appeal the judge's decision, but Biondi conceded it would be a 'longshot' to find a judge in New York who'd rule against Cuomo. Their lawyer, Joseph Ciaccio, did not return messages but previously told Law 360, 'We will continue to explore all options.' The Cuomo administration issued a controversial directive on March 25, 2020, forcing New York nursing homes to take in COVID-19 patients who were discharged from hospitals, which some experts have said contributed to thousands of deaths. The directive was issued in response to many hospitals statewide – especially in NYC – being overwhelmed with patients and lacking enough beds. The plaintiffs in the 2023 suit contend their loved ones' deaths were a result of the directive, accusing Cuomo, his top aide Melissa DeRosa and ex-state of Health Department Commissioner Howard Zucker of depriving nursing home residents to 'fundamental rights to life, bodily integrity, and the right to personal security' as required under the 14th Amendment. The judge in a 44-page order Monday dismissing the suit said the plaintiffs' claims failed to pass legal muster because the state didn't 'create' the virus or imprison the residents. 'The court's sympathy for plaintiffs and their loved ones simply cannot supplant governing law,' the judge wrote. Brooklyn federal Judge LaShann DeArcy Hall in September dismissed a similar 2022 suit filed by borough resident Daniel Arbeeny, whose father contracted the virus in a Brooklyn nursing home and died. Cuomo spokesperson Rich Azzopardi hailed the latest ruling, proclaiming, 'once again, justice has prevailed.' 'As we pass the fifth anniversary of COVID, the pain of those who have lost loved ones continues to be weaponized for political purposes and electoral gain at the highest levels,' he said. 'However, anytime this issue gets taken out of the press or the political arena and into the courts, the truth wins.' 'We are very sorry for her loss, but Mr. Biondi passed seven months after the [state Department of Health] guidance was no longer in place — showing once again how much people's pain was weaponized and politicized to the point where there is no relationship to the facts,' added Azzopardi.
