Legal Developments and Risk Management Tips Impacting the Professional Liability Community.
A New York family law judge charged with misconduct by the local judicial commission recently agreed to retire from the bench. The judge faced charges of failure to disclose conflicts with attorneys who frequently appeared before her. As alleged, the judge frequently exchanged text messages, socialized, traveled internationally, and otherwise interacted socially with attorneys (and …
Recently we have written about some of the pitfalls associated with litigation funding when it comes to attorney liability (see here). Thereafter, we discussed how a New York appellate court, for the first time, affirmed the discoverability of litigation funding agreements (see here). But even more recently, New York Governor Kathy Hochul signed the Consumer …
One of the questions that must always be considered with regard to professional liability claims is when the claim accrues for purposes of applicable statutes of limitations. In insurance broker E&O claims involving policies that fail to provide the requested coverage, plaintiffs have often unsuccessfully argued that the claim should accrue at the time the …
The United States Securities and Exchange Commission (SEC) on Dec. 17 issued a statement noting its position on the applicability of Rule 15c3-3 regarding broker-dealers that hold crypto asset securities, including such things as debt securities, or tokenized equity, on behalf of customers. The statement provides that the SEC’s staff of the Division of Trading …
Goldberg Segalla partner Peter Biging, co-chair of the firm’s Management and Professional Liability practice group, serves as host for Episode 5 of “The Precipice,” a podcast series presented by the Professional Liability Underwriting Society (PLUS). In this episode, Peter and his guests delve into nuclear verdicts, focusing on the forces behind these outsized jury awards …
We wanted to take some time to wish you and your families a happy holiday season and all the best in the new year. 2025 has been a busy, active year in the world of professional liability and we appreciate you dropping by our site on a regular basis for emerging issues and up-to-date information. …
We’ve addressed some potential pitfalls in the past associated with litigation funding when it comes to attorney liability, including ethical considerations. (See HERE and HERE) Recently, a New York intermediate appeals court has affirmed a trial court’s order, holding the trial court correctly allowed defendants to seek materials related to the funding of plaintiffs’ litigation. …
According to media sources, including Bloomberg, the US Financial Accounting Standards Board (FASB) is adding crypto asset transfers to its agenda set for this week. What is the FASB? Founded in 1973, the FASB is an independent, private-sector, not-for-profit organization that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that …
The defense of legal malpractice claims often hinges on a deceptively simple question: did the attorney breach their duty owed to the client? The crucial analysis often begins with an evaluation of the nature and scope of the attorney-client relationship. This relationship is the cornerstone of nearly all malpractice claims, as it gives rise to …
Over the past decade, there has been a substantial rise in the number of attorneys using litigation funding to help prosecute or defend a case. This area is largely unregulated in New York. While this new way of practicing law might help lawyers advocate for clients, it could open a lawyer to liability from the lender, …