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Update on Google Unauthorized Children’s In-App Purchase Class Action: THE SHOW MUST GO ON!

U.S. District Court Judge Ronald M. Whyte has issued an order granting in part and denying in part Google’s Motion to Dismiss the class action filed against the Company on ­March 7 in the U.S. District Court for the Northern...more

IR Executive Settles SEC Insider Trading Charges

The SEC filed a settled insider trading case against a partner in an investor relations firm who traded securities based on information he obtained from draft press releases he worked on for firm clients. The settled action...more

Citigroup Settles with DOJ for $7 Billion

Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster settlement came days before...more

What Should the Trustee of a Private ESOP Do?

The Department of Labor (DOL) recently entered into an agreement with GreatBanc Trust Company settling claims relating to its service as trustee of an employee stock ownership plan (ESOP) holding stock of a private company....more

Privacy Tuesday: July 2014 #2

FTC Sues Amazon Over In-App Purchases Made by Children - Children, according to Whitney Houston, are our future, but they are also, according to the Federal Trade Commission, willing to spend unlimited amounts of money...more

The SEC, Insider Trading, Golf And E-Mails

Insider trading is generally a profit making venture. But not always as a group of golf friends recently learned – and documented in numerous e-mails that may have actually created a better evidentiary trail than the much...more

Second Circuit Doubles Down on Rule Preventing Non-Settling Parties from Objecting to Class Settlement

The robustness of the rule preventing non-settling defendants from objecting to a class settlement has received a boost from the Second Circuit. The class settlement at issue involved the claims of investors against a hedge...more

Texas Supreme Court Rejects a General Cause of Action for Minority Shareholder Oppression

The Supreme Court of the State of Texas recently issued a significant opinion relating to the remedies available to minority shareholders of Texas corporations. In Ritchie v. Rupe, No. 11-0447 (Tex. June 20, 2014), available...more

Raul v. Astoria Fin. Corp., C.A. No. 9169-VCG (Del. Ch. June 20, 2014) (Glasscock, V.C.)

In this memorandum opinion, the Court of Chancery granted defendant’s motion to dismiss, finding that plaintiff was not entitled to attorneys’ fees under the corporate benefit doctrine because plaintiff had not presented a...more

Jury Verdict Against Millennium Provides Insight on Definition of Remuneration

Ameritox won the latest volley of an ongoing legal battle with Millennium when a federal jury in Florida awarded it $14.75 million on June 16, 2014. Ameritox persuaded the jury that Millennium’s free point of care test (POCT)...more

DOL Settlement Is a Cautionary Tale for ESOP Trustees

The Department of Labor (DOL) recently settled a case involving an employee stock ownership plan (ESOP) that provides guidance but also a warning for trustees and employers contemplating ESOP transactions that later go awry....more

Employers Fight Back Against Whistleblowers

In 2013, the federal government recovered $3.8 billion from settlements and judgments under the False Claims Act (FCA). Whistleblowers—also called “relators”—can recover up to 30 percent of whatever a defendant pays in a...more

Sanctions Are Appropriate for Factual Misrepresentation and Abuse of Judicial Process

Monsanto Co. v. E.I. Du Pont de Nemours & Co. - Addressing the issue of sanctions following a finding that a litigant abused the judicial process and acted in bad faith, the U.S. Court of Appeals for the Federal...more

SEC Prevails in Eleventh Circuit

The SEC prevailed in an appeal of a financial fraud action. SEC v. Monterosso, Nos. 13-10341, 13-10342, 13-10464 (11th Cir. Opinion June 30, 2014). A key issue in the case is the application of the Supreme Court’s decision in...more

Eleventh Circuit Rejects Excess Insurers Bad Faith Claim Against Primary Insurer Due to Lack of Damages Causation

The Eleventh Circuit Court of Appeals reversed a Florida district court’s award of damages to the excess insurer on the ground that the excess insurer failed to prove the primary insurer’s alleged bad faith had caused the...more

Court Awards Sanctions Against Buyer and Attorney for Meritless Claims Against Sellers’ Agent

Plaintiff Joanne Peake purchased a home from the Underwoods, who were represented by a real estate agent, John Ferrell. Two years after close of escrow, she discovered that subfloors had been damaged and not repaired by the...more

Massachusetts Federal Court Refuses to Transform Non-Disclosure Agreement into a Non-Competition Agreement

A recent decision from the Massachusetts federal district court serves as a good reminder to Massachusetts employers that courts are unlikely to view the breach of a non-disclosure/confidentiality agreement as justification...more

Plaintiff’s Trade Secret Lawsuit Backfires!

We recently reported on good things (big verdicts) coming to trade secret plaintiffs that endure lengthy lawsuits. But good things don’t always come to those who wait. ...more

Does the Economic-Loss Rule Bar Claims Under Section 75-1.1?

The economic-loss rule says that a contract dispute generally does not state a tort claim. The concern is that if a plaintiff could recover tort damages, that outcome would disregard the expectations reflected in the parties’...more

When Applying to Certify a Class Action, Don’t Forget Causation and Damages

The Court of Appeal of Alberta recently re-affirmed the need for carefully drafted pleadings and a thorough application record at a certification application, particularly where class-wide causation and class-wide damages are...more

Legal Alert: Supreme Court of Texas Finds Contractors Cannot Recover Delay Damages for Negligent Misrepresentation Against an...

On June 20, Texas joined a number of states that apply the economic loss rule to damages claims arising from negligent misrepresentation between contractors and the owner’s architect. In LAN/STV v. Martin K. Eby Construction...more

Bad Faith Sentinel - June 2014

In This Issue: - Court of Appeals of the State of Washington: Bad Faith Damages May Exceed the Amount of a Reasonable Covenant - Southern District of Mississippi: Insurer Providing Coverage Opinion to Insured...more

Court of Appeals of the State of Washington: Bad Faith Damages May Exceed the Amount of a Reasonable Covenant Judgment

Miller v. Kenny, No. 68594-5-I, 2014 WL 1672946 (Wash. Ct. App. Apr. 28, 2014) - The Court of Appeals of the State of Washington held that a reasonable covenant judgment, consisting of the total liability of the...more

Another state AG files lawsuit using Dodd-Frank authority

A lawsuit filed in May 2014 by the Mississippi Attorney General against Experian in Mississippi state court alleging widespread federal and state law violations was removed last week by Experian to a federal district court in...more

SEC Obtains Freeze Order Against Recidivist And His Entities

The Commission brought an action against a securities law recidivist and his entities who had raised about $22 million in a fraudulent investment scheme. When the action was filed a temporary freeze order was obtained. Later...more

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