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This Week In Securities Litigation

The SEC settled another action this week based on admissions of fact and that the Federal securities laws were filed, this time involving Oppenheimer. The action was based on the fact that the firm permitted an off-shore and...more

Pennsylvania Supreme Court Denies Appeal In Coverage Dispute; Superior Court Decision Recognizing a Duty to Defend Where Tort...

In a per curiam decision without a published opinion, the Pennsylvania Supreme Court denied National Union Fire Insurance Company of Pittsburgh’s (“National”) appeal from a Superior Court decision holding that National had a...more

The Ropes Recap: Mergers & Acquisitions Law News - January 2015

In this issue: - News from the Courts - Delaware Supreme Court Clarifies Fiduciary Duties in Sale Context and Overturns Judicial Imposition of Auction in Deal with Passive Market Check - Illinois Court...more

Is It Worth It For Plaintiffs' Counsel To Gamble On Merger Class Actions in North Carolina?

I hadn't written anything yet about the multiple shareholder actions challenging the merger of PokerTek -- a developer and distributor of electronic table (gambling) games -- with Multimedia Games -- another developer and...more

The Aftermath of Newman Likely to Cause Problems for Prosecutors in Old and New Cases

In what is possibly a harbinger of how other courts will interpret the U.S. Court of Appeals for the Second Circuit’s landmark insider trading ruling in United States v. Newman, 773 F.3d 438 (2d Cir. 2014), Judge Andrew...more

BABC Attorneys Author Amicus Brief on Behalf of DRI Regarding Tibble Case in United States Supreme Court

In Tibble v Edison International, Plaintiffs brought fiduciary duty claims against Edison International for alleged mismanagement of Edison’s 401(k) Plan. Plaintiffs’ claims centered upon the fact that the Plan’s investment...more

Section 75-1.1 and Out-of-State Injuries Based on In-State Conduct

In earlier posts, we have discussed the two-part test that courts use to assess whether section 75-1.1 applies to out-of-state conduct. First, the plaintiff must suffer an injury in North Carolina....more

Arizona Court of Appeals Finds No Implied Waiver of Insurer’s Attorney Client Privilege by Defending a Bad Faith Case Based on...

A recent Arizona Court of Appeals decision, Everest Indemnity Insurance Company v. the Hon. John Rea, Judge of Sup. Ct of State of Az.,2015 WL 195450, addresses the attorney-client privilege in a bad faith case. Everest...more

A&O Decision Report: High Court Provides Guidance As To How Sums Paid Pursuant To A Restitution Order Should Be Distributed To The...

In this report, Sarah Hitchins and Andrew Lee, associates in Allen & Overy LLP's Banking, Finance and Regulatory Litigation Group, consider the High Court's judgment in Financial Conduct Authority v Anderson [2014] EWHC 3630...more

SEC Files Prime Bank Fraud and Offering Fraud Actions as Administrative Proceedings

The trend of selecting administrative proceedings rather than Federal court by the SEC appears to be continuing. Since last September, for example, the SEC has filed at least seven insider trading cases as administrative...more

California Sunshine Warms the Market: A Twist on Customer Non-Solicitation Provisions in the Golden State

Those of you reading our Employee Mobility blog posts are familiar with California’s unique approach to non-compete agreements: they are, except in a few limited circumstances, unenforceable in the Golden State. And that...more

Olem Shoe Corp. v. Washington Shoe Corp. - USCA, Eleventh Circuit, January 12, 2015

Eleventh Circuit affirms district court’s summary judgment rulings finding that Olem infringed Washington Shoe’s copyrights in women’s rain boot designs, but did not do so with actual knowledge or reckless disregard. ...more

U.S. Sentencing Commission Proposes Amendments to Widely Criticized Economic Crime Sentencing Guidelines

In recent years, a growing chorus of federal judges and defense attorneys have protested that the Federal Sentencing Guidelines for economic crimes regularly recommend inconsistent and unjust sentences. Critics claim that §...more

The Year Ahead in Patent Law - 2015

With the advent of the America Invents Act (AIA), public perception of frivolous patent litigation, frequently surrounding cases filed by non-practicing entities (NPEs), has received increasing legislative attention. Although...more

Copyright Alert: Fox v Dish Summary Judgment Rulings

Mixed Outcomes on Copyright and Contract Issues Re: Volition, Time- and Space-Shifting, Intermediate Copying and Commercials-Skipping - In a complex opinion addressing intermingled copyright and contract issues, a...more

Patent Infringement Lawsuit Reminds ERISA Fiduciaries to Monitor Service Providers

In August 2014, GRQ Investment Management, LLC (GRQ) sued Financial Engines, Inc. and Financial Engines Advisors, LLC (collectively, Financial Engines), alleging that Financial Engines’ sale of account management and advisory...more

The CFPB & UDAAP: A “Know It When You See It” Standard?

The Consumer Financial Protection Bureau’s (CFPB) continued and expanded reliance on its sweeping authority to prohibit unfair, deceptive, and abusive acts or practices (UDAAP) continues to command the attention of financial...more

Delaware Supreme Court to Chancery: You Have Broad Powers

Books-and-records litigation does not typically grab headlines. In fact, few cases litigated under Section 220 of the Delaware General Corporation Law result in written opinions authored by the Delaware Supreme Court....more

Personal Benefit Test Does Not Apply To Misappropriation Theory of Insider Trading — USAO

In U.S. v. Newman, Nos. 13-1837-cr, 13-1917, 2014 WL 6911278 (2nd Cir. Decided Dec. 10, 2014) the Second Circuit handed prosecutors perhaps the only defeat they have suffered in recent years in an insider trading cases. After...more

In re Family Dollar Stores, Inc.: No Revlon Duty to Seek Better Terms From Competing Bidder

Last month, in In re: Family Dollar Stores, Inc. Stockholder Litigation, a Delaware Chancery judge rejected the efforts of certain shareholders of Family Dollar Stores, Inc., to prevent Family Tree’s shareholders from voting...more

Missouri Court Refuses to Enforce Non-Compete in Staffing Agency Fight Between Kforce and Beacon Hill

A recent case out of the Eastern District of Missouri provides a perfect example of what judges should do when evaluating non-compete agreements: That is to say that judges should conduct a thoughtful analysis that accounts...more

Supreme Court to Consider Scope of “Good Faith” Belief and the Intent Requirement of § 271(b)

Commil USA v. Cisco Systems - Earlier this year, the U.S. Court of Appeals for the Federal Circuit ruled that a good-faith belief that a patent is invalid may negate the element of intent required to prove induced...more

Cybersecurity Risks Are Higher than Ever and Are Proving Costly

Cybersecurity is an increasing concern for companies. Last April, the UK Department for Business, Innovation & Skills (BIS) published the 2014 information security breaches survey: technical report. The report comprises the...more

District Court Rules Online Agreement Does Not Bind Customers to Unknown Future Contract Terms

On December 10, the U.S. District Court for the Northern District of California granted plaintiff’s motion for partial summary judgment in a class action suit filed against a large grocery chain. Plaintiff claims that the...more

Supreme Court of Arizona Weighs in on the Preemption Provision of the State’s Trade Secrets Act

Orca Communications Unlimited, LLC v. Noder - The Uniform Trade Secrets Act’s (UTSA) displacement provision creates an exclusive cause of action for claims based on misappropriation of trade secrets and preempts...more

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