Especially in today’s economic and work environment, we find it helpful – and we therefore thought our clients would also find it helpful – to keep track of the important litigation and regulatory enforcement developments...more
6/11/2020
/ Asset Management ,
Class Action ,
Coronavirus/COVID-19 ,
Dodd-Frank ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Investment ,
Proxy Materials ,
Regulation Best Interest ,
Section 36(b) ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation
Especially in today’s economic and work environment, we find it helpful – and we therefore thought our clients would also find it helpful – to keep track of the important litigation and regulatory enforcement developments...more
5/27/2020
/ Asset Management ,
CARES Act ,
Clawbacks ,
Commercial Bankruptcy ,
Coronavirus/COVID-19 ,
Disclosure Requirements ,
Enforcement Actions ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
Fraudulent Conveyance ,
Investment Management ,
Oil & Gas ,
Paycheck Protection Program (PPP) ,
Regulatory Oversight ,
Section 36(b) ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Shareholder Litigation
The U.S. Court of Appeals for the Second Circuit, in disagreeing with the Courts of Appeals for the Third and Ninth Circuits, ruled on August 5, 2019 in Oxford University Bank v. Lansuppe Feeder, Inc. that a private right of...more
9/10/2019
/ Appeals ,
Breach of Contract ,
Equitable Relief ,
Failure to Report ,
Investment Company Act of 1940 ,
Investment Funds ,
Investors ,
Junior Lenders ,
Liquidation ,
Mutual Funds ,
Noteholders ,
Private Right of Action ,
Rescission ,
Section 47(b) ,
Senior Investors ,
Split of Authority ,
Summary Judgment ,
Trusts
The U.S. District Court for the District of New Jersey recently issued its post-trial ruling in Kasilag et al. v. Hartford Investment Financial Services, LLC et al. The Hartford ruling is the second post-trial Section 36(b)...more
The U.S. District Court for the District of New Jersey issued its post-trial ruling on August 25, 2016 in Sivolella v. AXA Equitable Life Insurance Company—the first Section 36(b) trial decision since 2009. The Court...more
9/20/2016
/ AXA Equitable Life ,
Burden of Proof ,
Fees ,
Fiduciary Duty ,
Gartenberg Factors ,
Insurance Industry ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investment Funds ,
Life Insurance ,
Mutual Funds ,
Section 36(b)
Five years removed from the credit crisis and “great recession” of 2008, the U.S. fund industry still faces substantial litigation risk, both in terms of ongoing cases that challenge the core of the advisory/sub-advisory...more