Emerging Litigation Podcast
Antiracism and Antitrust with Eric Cramer
Our Guest Eric Cramer is Chairman of the Firm and Co-Chair of the Firm’s antitrust department. He has a national practice in the field of complex litigation, primarily in the area of antitrust class actions. He is currently co-lead counsel in multiple significant antitrust class actions across the country in a variety of industries and is responsible for winning numerous significant settlements for his clients totaling well over $3 billion. Mr. Cramer is also a frequent speaker at antitrust and litigation related conferences and a leader of multiple non-profit advocacy groups. He was the only Plaintiffs’ lawyer selected to serve on the American Bar Association’s Antitrust Section Transition Report Task Force delivered to the incoming Obama Administration in 2012. Antiracism and Antitrust with Eric Cramer Among the legal and regulatory avenues one might follow to mitigate the impact of racism, most of us would look to various manifestations of discrimination law in employment, lending, real estate, education, healthcare, voting rights, and other categories. When presented in those contexts, the anti-racism objectives are clear. There are several federal laws and many state laws that prohibit anticompetitive behavior. At the top of the heap is the Sherman Antirust Act of 1890, which outlaws illegal monopolies and anticompetitive tactics, conspiracies to restrain trade, cartels and syndicates. But what do wages, including those paid to minorities, have to do with antitrust? What about no-poach agreements, whereby groups of companies agree not to hire employees away from each other? The answer is "quite a lot." Listen to my interview with Eric Cramer, Chairman of Berger Montague and co-chair of the firm's antitrust department, a team that handles antitrust class actions across the country involving a variety of industries. Eric and the firm are responsible for winning numerous significant settlements for clients -- a total value that now exceeds [...]
Cannabis Coverage Litigation with John McDonald and Jihee Ahn
Our Guests John B. McDonald is an experienced litigator practicing in the Seattle and New York offices of Harris Bricken, where he represents clients in complex commercial, insurance, and partnership matters. Prior to joining Harris Bricken, John spent two years in Seattle with the Office of Chief Counsel, U.S. Customs and Border Protection (a component agency of the Department of Homeland Security), and five years in New York City at O’Melveny & Myers LLP, where he managed several cases. John graduated from the University of Miami School of Law, where he was an editorial member of the University of Miami Law Review. He also served as a research assistant for Professor Charlton Copeland on civil procedure and constitutional issues. Jihee is an experienced complex commercial litigator and chair of Harris Bricken’s Dispute Resolution/Litigation practice. She primarily represents clients in business, intellectual property, and real estate matters for both domestic and international clients. Having worked extensively in both federal and state courts, Jihee advises her clients from case intake through arbitration and trial. Over the course of her career, she has successfully prepared and argued numerous procedural and substantive motions, regularly conducted and defended depositions, and mediated disputes when appropriate for her clients. Prior to joining Harris Bricken, Jihee worked at Baker & Hostetler in Los Angeles, where she served as the lead attorney on several cases and mentored junior associates. Jihee graduated from the UCLA School of Law with a Business Law and Policy Specialization, and she served as a research assistant to Professor Sung Hui Kim on securities regulation issues throughout her third year of law school. Prior to relocating to Buffalo, Erin spent the bulk of her career to-date in Boston, where she worked in stewardship at Harvard University and as a consultant for nonprofits of all sizes. Cannabis Coverage Litigation: [...]
Takeaways from the SEC’s $100M Fine Against FinTech Lender BlockFi
Our Guest Brad is a partner in the Greenville, South Carolina, office of Nelson Mullins Riley and Scarborough where he chairs the firm’s Financial Services Regulatory Practice, leading a team of attorneys in a national practice representing clients in financial regulatory and FinTech matters. He is a valued member of the Editorial Board of Advisors for the Journal on Emerging Issues in Litigation, a companion to this podcast. Takeaways from the SEC's $100M Fine Against FinTech Lender BlockFi So, apparently this is true: Running a lending operation without registering with the SEC makes them crabby. Spoiler Alert: On Valentine’s Day this year the SEC announced a $100 million fine against retail crypto lender BlockFi Lending. Nothing says "will you be mine?" like a nine-figure bill -- for that special someone who has everything. The company agreed to put an end to some of its offers and sales, and to get to work bringing itself into compliance with, you know, the law, like the Securities Act of 1933 and the Investment Company Act of 1940. So, what does the SEC want companies to do? What remedies does the SEC have for unregistered securities offerings? What impact will this have on private litigation? Is there a risk that BlockFi Interest Account investors will have claims against BlockFi? Want to find out? Listen to my interview with attorney Brad Rustin. Brad is a partner in the Greenville, South Carolina, office of Nelson Mullins Riley and Scarborough where he chairs the firm’s Financial Services Regulatory Practice, leading a team of attorneys in a national practice representing clients in financial regulatory and FinTech matters. This is Brad’s third appearance on the podcast! He spoke on one episode about the Impact of the Russia Sanctions on Global Financial Markets, and on another popular episode on the Gamification of Stock Trading. Brad is [...]
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Emerging Litigation Journal
Insurance Coverage for Digital Assets: Mitigating Losses in Cryptocurrency and Non‐Fungible Token Markets by Scott DeVries, Jessica Cohen-Nowak and Adriana Perez of Hunton Andrews Kurth GalleryInsurance Coverage for Digital Assets: Mitigating Losses in Cryptocurrency and Non‐Fungible Token Markets by Scott DeVries, Jessica Cohen-Nowak and Adriana Perez of Hunton Andrews Kurth
Insurance Coverage for Digital Assets: Mitigating Losses in Cryptocurrency and Non‐Fungible Token Markets by Scott DeVries, Jessica Cohen-Nowak and Adriana Perez of Hunton Andrews Kurth
Companies and individuals are riding the ups and downs of cryptocurrency and NFTs—with losses and swings in the billions of dollars—but digital assets are not going away. Abstract: The risk of loss in certain categories may be mitigated by insurance, whether provided by tailored policies and/or under policies designed specifically for digital asset owners. Those with exposure to the digital asset sector should be attuned to the emerging marketplace for such insurance products. While it is early days for NFT-specific coverage, the rise of cryptocurrency has created a substantial marketplace for crypto coverage. Insurers are becoming increasingly able to model and assess risk, so more products are coming to market. That said, digital asset holders need to be able to select coverage that best suits their needs. In this article, the authors discuss the history and status of coverage for digital assets to assist readers in exploring how they might use insurance to mitigate risk in this emerging and rocky sector of global finance. "Over the course of a decade, the marketplace for cryptocurrency has increased from zero to an estimated $250 billion. However, only $6 billion in insurance coverage is currently available. It would be a gross understatement to say that there is a truly remarkable imbalance between market value and insurance capacity." Introduction Crypto markets are experiencing the greatest crash in their history to date. The value of a Bitcoin (BTC) has plummeted 70% from its peak and Ethereum (ETH) has fallen 77%. Since last November, the value of cryptocurrency tokens has lost $2 billion in value. As noted financial publication Barron’s put it: “Crypto is having a ‘Lehman moment,’ a shattering of confidence triggered by plunging asset prices, liquidity freezing up, and billions of dollars wiped out in a few scary weeks.” Cryptocurrency companies are halting withdrawals and transfers, platforms are seizing up, and regulators [...]
The Environmental, Social, and Governance Police Have Arrived: Is Your Insurance Ready? by Robert D. Chesler and Dennis J. Artese
The Authors Robert D. Chesler (rchesler@andersonkill.com) is a shareholder in Anderson Kill’s New Jersey office and is a member of the firm’s Cyber Insurance Recovery Group. He represents policyholders in a broad variety of coverage claims against their insurers and advises companies with respect to their insurance programs. Dennis J. Artese is a shareholder in Anderson Kill’s New York office and chairs the firm’s Climate Change and Disaster Recovery Group. Both are members of the Editorial Advisory Board of the Journal. Interviews with leading attorneys and other subject matter experts on new twists in the law and how the law is responding to new twists in the world. The ESG Police Have Arrived: Is Your Insurance Ready? "ESG has become a major initiative for corporate America. In particular, the environmental prong of ESG calls for companies to institute sustainability goals and to invest in environmentally friendly companies. This emphasis has both economic and popular support. Environmental sustainability will make companies better able to compete and make their businesses less risky." Abstract: The environmental, social, and governance movement is a positive one, but like many well-intentioned efforts there is room for abuse and risk. As corporations endeavor to earn accolades and good will for “doing the right thing,” they must also be certain they truly are. In this article the authors discuss increased government scrutiny, the attendant risks of implementing and reporting on ESG initiatives, insurance coverage implications for directors and officers, the pollution and other exclusions, the potential civil fines and penalties, and what companies can expect in the era of ESG. Download the article now! Podcast 1 of 2 series: Insurance Coverage with Dr. Jaana Pietari and Jim Fenstermacher and Litigation with Bob Chesler. Podcast 2 of 2 series: PFAS Insurance Coverage with Robert D. Chesler of Anderson Kill. Sister [...]
Announcing the Complex Litigation Ethics Conference
A leading academic and practitioner, Joshua P. Davis (davisj@usfca.edu) is a nationally recognized expert on legal ethics and class actions, as well as on artificial intelligence in the law, antitrust, civil procedure, free speech, and jurisprudence. He has published more than 30 scholarly articles and book chapters on these subjects and is currently writing a book on AI titled Unnatural Law, which will be published by Cambridge University Press. He is Research Professor of Law at the University of California Hastings College of Law, and a Shareholder of the Berger Montague PC law firm and Manager of its new San Francisco Bay Area Office. Before taking these posts, for more than 20 years Davis was a tenured Professor of Law at University of San Francisco Law School, where he also served as the Director of the Center for Law and Ethics. Davis is also a member of the Editorial Board of Advisors for the Journal on Emerging Issues in Litigation, published by Fastcase Full Court Press. Tom Hagy, Editor in Chief. An expert in civil procedure and federal courts, Professor Scott Dodson is the James Edgar Hervey Chair in Litigation and Geoffrey C. Hazard Jr. Distinguished Professor of Law at UC Hastings Law. He has published seven book titles, including The Legacy of Ruth Bader Ginsburg (Cambridge 2015) and New Pleading in the Twenty-First Century (Oxford 2013). He has written around 100 shorter works appearing in such journals as Stanford Law Review, New York University Law Review, Michigan Law Review, University of Pennsylvania Law Review, California Law Review, Virginia Law Review, Duke Law Journal, Northwestern University Law Review, Georgetown Law Journal, American Journal of Comparative Law, American Journal of International Law, and Law & Society Review. His scholarly writings have been cited in more than 30 court opinions and have been downloaded more than 45,000 times. For 2010-14, he was listed as the 9th [...]
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