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Incentivized Reviews Without Disclosure Get Panned by FTC

In the latest iteration of the Federal Trade Commission’s (FTC) approach to testimonials and endorsements in the context of online advertising, the Commission alleged that AmeriFreight, a company that arranges the shipment of...more

Federal Appellate Court Ruling Sounds the Liability Alarm for Officers and Directors of Struggling Health Care Providers – Both...

Last month, the United States Court of Appeals for the Third Circuit issued an important, 28-page opinion that confirmed a jury verdict, holding former officers and directors of a not-for-profit health care provider in...more

Third Circuit Affirms MillerCoors Victory in Wholesaler Contract Dispute

On Wednesday, February 25, 2015, the U.S. Court of Appeals for the Third Circuit issued its opinion in Frank B. Fuhrer Wholesale Co. v. MillerCoors LLC, No. 14-1008 (3d Cir. 2015), finding in favor of MillerCoors LLC...more

There Is A Difference Between "Inducing" Something and "Causing" Something

If you asked me to list my favorite torts, tortious interference with prospective economic advantage would be near the bottom of the list. But that tort was front and center in Judge McGuire's Opinion in KRG New Hill...more

Inside The Courts - March 2015 | Volume 7 | Issue 1

In This Issue: - U.S. SUPREME COURT: ..Gelboim v. Bank of Am. Corp., No. 13-1174 (U.S. Jan. 21, 2015) - DEMAND FUTILITY: ..Arduini v. Hart, No. 12-15750 (9th Cir. Dec. 17, 2014) - EXCHANGE...more

International Fraud & Asset Tracing (3rd Edition), Hong Kong

In this Guide: - Introduction - Managing the Internal Investigation - Disclosure from Third Parties - Steps to Preserve Assets/Documents - Civil Proceedings - Anti-Bribery/Anti-Corruption...more

Omissions Regarding “Known Trends” in a 10-Q Report May Support a Securities Fraud Claim

If a public company fails to disclose in its quarterly or annual reports trends and uncertainties that it could reasonably expect to have a material impact on revenues, at least one significant federal court has held that the...more

Court of Appeals of New Mexico Reverses Bad Faith Judgment for Insured and Remands for New Trial on Bad Faith Claim

Progressive Casualty Ins. Co. v. Vigil, No. 32,171 (N.M. Ct. App. Jan. 21, 2015). Court of Appeals of New Mexico rules that district court abused its discretion in excluding evidence of previous coverage ruling in...more

The New Insider Trading Landscape: United States v. Newman and Its Impact on Pending Insider Trading Prosecutions

On December 10, 2014, the United States Court of Appeals for the Second Circuit vacated the convictions of two hedge fund portfolio managers for trading on material non-public or “inside,” information that came to the...more

Using the Economic Loss Rule to Your Client’s Benefit

All lawyers can benefit from having available a toolbox of general legal knowledge with which to frame a case to their client’s advantage. For business attorneys the economic loss rule is a particularly useful tool. At its...more

Orrick's Financial Industry Week in Review

New FAQ's Regarding the Scope and Implementation of the Volcker Rule Issued by the U.S. Banking, Securities and Commodities Regulatory Agencies - On February 27, the Board of Governors of the Federal Reserve System,...more

SEC Provides Guidance on Receipt of Gifts by Fund Advisory Personnel

On February 23, 2015, the SEC’s Division of Investment Management issued guidance concerning the conflict of interest that arises when persons doing business, or hoping to do business, with a fund provide gifts, entertainment...more

District of Arizona: Employee’s Intentional, Incorrect, and Unreasonable Handling of Claim Subjects Insurer to Finding of Bad...

Haney v. ACE Am. Ins. Co., No. CV-13-02429-PHX-DGC, 2015 WL 58670 (D. Ariz. Jan. 5, 2015). District of Arizona: Court grants partial summary judgment on bad faith claim for failure of insurer to make retroactive...more

Florida Hospitals Face Glenn Close-Like Threat

Remember the evil Glenn Close character in Fatal Attraction? We were sure Michael Douglas had drowned her in the bathtub, but she popped up again, still alive and scary as all get-out. Class actions by uninsured...more

Thirty-Year-Old Conspiracy to Misappropriate Trade Secrets Lives On - ABB Turbo Sys. AG, et al. v. TurboUSA, et al.

Addressing the standard for pleading trade secret misappropriation and conspiracy under Florida law, the U.S. Court of Appeals for the Federal Circuit reversed an order from the U.S. District Court for the Southern District...more

Second Circuit Holds That SIPA Does Not Permit an Inflation or Interest Adjustment to “Net Equity” Claims For Customer Property

In In re Bernard L. Madoff Investment Securities LLC, No. 14-97-bk(L), 2015 WL 727965 (2d Cir. Feb. 20, 2015), the United States Court of Appeals for the Second Circuit held that no adjustment for inflation or interest could...more

Seller Beware: Eighth Circuit Finds Insurer Potentially Liable for Enrollment Mistakes of Employer

In Silva v. Metropolitan Life Insurance Company, 762 F.3d 711 (8th Cir. 2014), the Eighth Circuit joined a number of other circuits in recognizing equitable remedies of reformation and surcharge based on a breach of fiduciary...more

Rare Defendant Class Certified in Federal North Carolina Ponzi Scheme Class Action

Most of the cases that come to mind when you think “class action” consist of a large group of plaintiffs (hundreds or multiple thousands) seeking authorization to proceed as a class in one lawsuit against one or a handful of...more

Celebrity SLAPP’d in Los Angeles: Lawsuit arising from American Idol Negotiations Reinstated

California has an anti-SLAPP law that protects defendants from lawsuits brought to chill their First Amendment rights. When the anti-SLAPP law applies, a defendant can obtain a fast dismissal at the early stage of the...more

Mandatory Arbitration Undercutting Consumer Rights?

New Jersey businesses may face increased litigation if proposed legislation to bar mandatory arbitration clauses in consumer contracts is made law. The proposed bill – recommended for passage by the Assembly Consumer Affairs...more

HCA Holdings Must Present More Than “Speculation” of Affirmative Defenses to Defeat Class Certification, Sixth Circuit Holds

Investors sued HCA Holdings, Inc., alleging that HCA’s registration statement and prospectus contained misrepresentations when HCA made its initial public offering in 2011. The district court certified a class of investors,...more

Brokers Switching Firms: The Protocol and Recent Developments

In August 2004, Merrill Lynch, Citigroup, and UBS entered a pact not to sue one another over client relationships in their wealth management businesses. This pact was known in the industry as the Protocol for Broker...more

New York Supreme Court Denies Barclays’ Motion to Dismiss NYAG’s Martin Act Claim – Court Finds Martin Act Applies to Barclays’...

Last week, the New York Supreme Court denied Barclays’ motion to dismiss the New York Attorney General’s fraud claim against the bank, finding that the NYAG may proceed with its claim under New York’s Martin Act based on...more

Fifty-Six Hope Road Music, Ltd. v. A.V.E.L.A., Inc. - USCA, Ninth Circuit, February 20, 2015

Following jury verdict on Lanham Act claim in favor of entity owned by Bob Marley’s children, Ninth Circuit affirms denial of defendants’ motion for judgment as matter of law, finding that trial evidence supported jury’s...more

Tibble Supreme Court Argument: Fiduciaries Must Monitor Investments

Section 413 of ERISA provides in general that no action for breach of fiduciary duty may be brought after the earlier of: (1) six years after (A) the date of the last action which constituted a part of the breach, or (B) in...more

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