Ep. 188: Citibank’s $900 Million Mistake

02/19/21 • 36 min

Law360's Pro Say - News & Analysis on Law and the Legal Industry

In August, Citibank accidentally paid $900 million to creditors of cosmetics giant Revlon, which a federal judge called "one of the biggest blunders in banking history.” Rubbing salt in the wound, the judge also ruled this week that the bank cannot reclaim the bulk of the erroneous payment. This week, the gang breaks down Citi’s embarrassing misstep and its unsuccessful bid to undo it in federal court. Also this week: Jones Day gets hit by a sweeping data breach that has much of BigLaw on guard; and Peloton muscles up against what it says is a “baseless” campaign to assert a trademark dominion over the term “spinning.” Finally, Zoom court misadventures continue to percolate as a California judge raps an attorney for not wearing a tie.

Previous Episode

Ep. 187: Cat Lawyer: It’s Complicated

Time briefly stood still this week as the Internet became transfixed by the plight of Texas attorney Rod Ponton, whose face was trapped behind an expressive and panicked cat filter during a court hearing on Zoom. Mere hours later, the light-hearted mishap turned into a parable of contemporary online celebrity as allegations of serious prosecutorial misconduct surfaced against Ponton. This week’s show breaks down the video, its weighty aftermath, and the nature of fleeting digital fame. Also this week: Whole Foods prevails in a discrimination suit over its discipling of workers for wearing Black Lives Matter face masks, an insurer is accused of colluding to block COVID-19 business loss coverage, and advocacy groups sue an L.A. judge for requiring in-person hearings amid the pandemic.

Next Episode

Ep. 189: Hard Seltzer Heads To Court

As hard seltzers like White Claw continue to boom in popularity, two beer giants are now duking it out in federal court over the legality of a Corona-branded seltzer. This week we’re breaking down the case, hitting on intellectual property, mergers & acquisitions, antitrust, and our love of seltzer. Also this week: We’re joined by Law360 Supreme Court reporter Jimmy Hoover to explain a flurry of activity at the high court; a former BigLaw partner avoids disbarment over the Varsity Blues scandal; and a Utah theme park learns the hard way not to start bad blood with Taylor Swift.