Legal Research

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Second Circuit Review
Monday, August 31, 2009
By Martin Flumenbaum and Brad S. Karp
"
Martin Flumenbaum and Brad S. Karp, partners at Paul, Weiss, Rifkind, Wharton & Garrison, analyze the recent decision in which the Second Circuit expanded the range of cases that the SEC can bring against defendants in an attempt to curb insider trading. Specifically, the court held that trades in put options of a company's stock based on inside information obtained in the absence of a fiduciary relationship with the company may constitute fraud in violation of the federal securities laws."

Aviation Law
Monday, August 31, 2009
By Steven R. Pounian and Justin T. Green

"Steven R. Pounian and Justin T. Green, partners at Kreindler & Kreindler, write: The deadly midair collision over the Hudson River earlier this month raises serious questions regarding the responsibilities of pilots and air traffic controllers and the rules for aircraft traversing the busy airspace around Manhattan. The continuing government investigation will undoubtedly lead to recommendations concerning whether the Hudson flight corridor rules need revision, but there is no question about the key existing safety requirements for flight through the corridor that all pilots monitor and file position reports on the same radio frequency and follow the 'see and avoid' rule."

OUTSIDE COUNSEL:

Underwater Endowments Pose Risks to Charitable Corporations
Monday, August 31, 2009
By David G. Samuels

 "David G. Samuels, a partner at Duval & Stachenfeld and an adjunct professor at New York Law School, writes: Traditionally, organizations with endowments tended to invest largely in fixed-income bonds or preferred stock. When common stocks were acquired, only the safest blue chips were considered. More recently, many not-for-profits have been more aggressive with their investment policies and have turned to equities as well as alternative investments such as hedge funds, private equity, venture capital, commodities and distressed debt, which have the potential for greater reward along with an associated risk. In the current economic environment, we are seeing severe losses sustained by endowment funds, even those that may have been investing prudently. No one saw the extent of the selloff in the markets or the Madoff scandal coming."

SPECIAL REPORTS:

Court of Appeals and Appellate Practice
Monday, August 31, 2009
 "In this Special Section from the New York Law Journal: 'Appellate Court Consideration of Unpreserved Error and Matters Not in the Record,' 'What Judges Want and Expect From Appellate Advocates,' 'Not Many Fireworks During a Workmanlike Term,' 'Decisions Include Negligence, Enforcement of Judgments, Fee Splitting' and 'Rulings Hold Practical Importance for Carriers and Policyholders.' " 

Also, in the highlighted article from this section,

Free With Registration: The 10 Most Common Mistakes in Writing an Appellate Brief
"Harry Steinberg, a partner at Lester Schwab Katz & Dwyer, writes: They say that the most durable lessons you learn are the ones you learn the hard way. As someone who has been writing appellate briefs for some 20 years, I've learned many lessons the hard way - from my own mistakes. But some of the best lessons I have learned are from the mistakes my adversaries have made and continue to make. Some of the most common errors have been so deeply bred into us by law school, custom and tradition and the senior lawyers who have trained us that we either do not notice them or do not regard them as errors. But the judges who read our briefs do notice them and when you make one or more of these errors, your brief is less effective. Ask any judge."