Shannon Leong

Shannon Leong

Orrick, Herrington & Sutcliffe LLP

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Second Circuit Rules That Judges Can Decertify a Class After a Jury Verdict

The Second Circuit recently held that under Federal Rule of Civil Procedure 23, a district court judge can decertify a class after a jury verdict in favor of the class but before entering judgment, upholding a Southern...more

8/1/2016 - Borrowers Breach of Contract Class Action Class Certification Corporate Counsel Decertify Federal Rules of Civil Procedure Late Fees Mortgage Servicers Mortgages Prejudgment Interest Putative Class Actions Rule 23 Rule 23(b)(3) Rule 50 The Money Store

ValueAct Settlement Marks Record Penalty in Heightened Agency Efforts Against HSR Act Violations

Where is the line drawn between acquisitions of securities made “solely for the purpose of investment” on one hand, and influencing control, thereby requiring regulatory approval, on the other hand? That is the central...more

7/18/2016 - Acquisitions Baker Hughes DOJ Exemptions FTC Halliburton Hart-Scott-Rodino Act Investment Firms Mergers Oil & Gas Premerger Notifications Reporting Requirements Securities Settlement Agreements Waiting Periods

Morgan Stanley Settles RMBS Litigation with FDIC for $63M

On January 29, Morgan Stanley and the Federal Deposit Insurance Corporation agreed to settle five suits encompassing state and federal claims alleging that Morgan Stanley made misrepresentations in offering residential...more

2/8/2016 - Banking Sector DOJ FDIC Misrepresentation Morgan Stanley RMBS Settlement Agreements

Judge Mostly Denies Deutsche Bank National Trust Co.’s Motion to Dismiss in RMBS Class Action

On February 3, Judge Alison Nathan of the United States District Court for the Southern District of New York largely denied Deutsche Bank National Trust Co.’s (the “Trustee’s”) motion to dismiss in a proposed class action...more

2/8/2016 - Class Action Deutsche Bank Mortgages Motion to Dismiss Popular Repurchases RMBS

Morgan Stanley Settles RMBS Suits With NCUA

On December 10, 2015, the National Credit Union Administration (“NCUA”) announced Morgan Stanley’s agreement to pay $225 million to settle litigation brought in New York and Kansas federal courts by NCUA as liquidating agent...more

12/22/2015 - Financial Crisis Material Misrepresentation Morgan Stanley NCUA RMBS Settlement

FDIC Sues BNY Mellon For Alleged Failure As Trustee of RMBS

On August 19, 2015, the Federal Deposit Insurance Corp., acting as receiver for Guaranty Bank, filed suit against Bank of New York Mellon Corp. in New York federal court, alleging that BNY breached its duties as trustee of 12...more

8/24/2015 - Bank of New York (BNY) Mellon Breach of Duty Consumer Lenders Countrywide FDIC Financial Institutions Financial Markets Loans Mortgage Lenders Mortgage Servicers Mortgages RMBS Trust Indenture Act Trustees

New York Appellate Court Upholds ACA’s Fraud Suit Against Goldman Sachs

On August 18, 2015, the New York Appellate Division’s First Department held that ACA Financial Guaranty Corp. adequately pled its fraud suit against Goldman Sachs Group Inc. A four-judge panel held that ACA sufficiently...more

8/24/2015 - Collateralized Debt Obligations False Statements Financial Institutions Financial Markets Fraud Goldman Sachs Hedge Funds Motion to Dismiss

Union Pension Fund Requests Approval of Settlement With Goldman Sachs in RMBS Litigation

On August 13, 2015, union pension fund NECA-IBEW Health & Welfare (“NECA”) and the Police and Fire Retirement Systems of the City of Detroit (“PFRS”), acting on behalf of proposed classes of institutional and individual...more

8/24/2015 - Detroit Financial Institutions Financial Markets Goldman Sachs Loans Pensions RMBS Settlement Unions

Antitrust and Competition Newsletter - December 2014 (Global)

For this month’s Top Stories, we are republishing two very recent Orrick Client Alerts that address an important U.S. appellate decision regarding the extraterritorial application of U.S. antitrust laws and the first U.S....more

12/16/2014 - Anti-Monopoly Antitrust Litigation China Extraterritoriality Rules Foreign Affiliates Motorola Patent Royalties Patents RAND Royalties Sherman Act

Seventh Circuit Decision in Motorola Mobility Holds That the FTAIA Bars a U.S. Parent's Damages Claims Based on Its Overseas...

The Foreign Trade Antitrust Improvements Act, 15 U.S.C. § 6a (FTAIA), enacted in 1982, has provided ambiguous direction to courts and practitioners regarding the applicability of U.S. antitrust laws to conduct occurring...more

12/1/2014 - Antitrust Litigation Appeals Banks Foreign Affiliates Foreign Branches of U.S. Banks FTAIA Motorola Sherman Act

Orrick's Antitrust and Competition Newsletter - April 2014

Shanghai High People’s Court Rules That Resale Price Maintenance Agreement Constitutes Monopolistic Agreement - The Shanghai High People’s Court recently made available its Aug. 1, 2013 final judgment overruling the...more

4/9/2014 - Antitrust Investigations Antitrust Litigation Antitrust Provisions China Competition Discrimination DOJ Foreign Corporations FTAIA FTC Healthcare Johnson & Johnson Lanham Act Lexmark Lexmark v Static Control Components Manufacturers Monopolization Price-Fixing SCOTUS

Law360: A Year Later: Comcast's Impact On Antitrust Class Actions

One year ago, on March 27, 2013, the U.S. Supreme Court issued its decision in Comcast Corp. v. Behrend, 133 S. Ct. 1426 (2013), overturning an order certifying an antitrust class action under Federal Rule of Civil Procedure...more

3/31/2014 - Antitrust Litigation Class Action Comcast v. Behrend Federal Rules of Civil Procedure Rule 23 SCOTUS

Antitrust and Competition Newsletter - October 2013

Top Story - Six Months Since Comcast: What Do Recent Decisions Mean For Antitrust Practitioners? Every antitrust lawyer should be familiar with the U.S. Supreme Court’s decision in Comcast Corp. v. Behrend, 133...more

10/8/2013 - Best Buy China Class Action Class Certification Comcast Comcast v. Behrend Competition DOJ EU FTC Microsoft Novell Patent Assertion Entities Service of Process Toshiba

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