Weekly News Update

weekly-news

*Sergey Aleynikov has spent about half a decade on trial, accused of stealing sophisticated trading software from Goldman Sachs Group Inc. And for the second time in four years, a court delivered a judgment that went against a jury’s findings: He isn’t guilty of breaking the law. [Wall Street Journal]

*In a closely watched case affecting the viability of unpaid internship programs at for-profit employers, the Second Circuit held that the “primary beneficiary” test should be used to decide whether interns should be deemed employees or trainees. [JD Supra]

*Lawyers for Dzhokhar Tsarnaev, who was sentenced to death for his role in the Boston Marathon bombing, filed a preliminary motion Monday for a new trial. [NY Times]

*The Washington NFL team lost in court Wednesday when a federal judge ordered the U.S. Patent and Trademark Office to schedule cancellation of six federal trademark registrations owned by the club, ruling that the team’s name — “Redskins” — was disparaging to a substantial composite of Native Americans when the marks were originally granted. [USA Today]

*A court Thursday put the brakes on city plans to build the massive “Willets West” shopping mall project in a Queens park next to Citi Field. The appellate division judges ruled the mall is illegal because the land where it would rise is part of Flushing Meadows-Corona Park. [NY Daily News]

*The Ninth Circuit appears to have rebuffed aspects of the Second Circuit’s recent effort to narrow liability for insider trading. The Ninth Circuit’s opinion was written by Judge Jed Rakoff, a Senior District Judge for the Southern District of New York, who sat by designation on the Ninth Circuit panel – and whose recent opinions seem to have struggled with the Second Circuit’s decision in United States v. Newman. [JD Supra]

*Zurich American Insurance Co. has prevailed in a case before the New York Supreme Court’s Appellate Division limiting flood claims to $5 million after 2012’s Superstorm Sandy ravaged the East Coast. [Business Insider]