Read Business Torts updates, news, and legal commentary from leading lawyers and law firms:
Unique Privacy Concerns for Mobile Apps
Common Employment Law Mistakes for Small, Start-Up and Growing Companies
Supreme Court Raises the Bar for Class Certification in Comcast Corp. v. Behrend
Safeguards against Data Security Breaches (Part One)
Weekly Brief: 78% of Law Schools Ignore ABA Rule
Weekly Brief: DOJ Memo Details Justification For Killing US Citizens
Can Feds Force Companies to Disclose Political Spending?
Three Key Data Retention Questions
Newtown Shootings Could Give Rise to More Litigation, Says Pinsky
What to Expect from the Supreme Court During Obama’s Second Term
The Weekly Brief: Abu Hamza On Trial, Wells Fargo Sued, Bingham Cuts Costs
Barofsky: Govt. Complicity Provides Libor Defense
Breaking Down the NFL Concussion Class Action and the Players’ “Warrior Mentality”—Eliot Wagonheim
Whalen: Go Back To The Future To Fight Fraud With Equity Receivers
Lawyer: 20 More Law School Class Actions Coming
The SEC has issued its second-ever whistleblower award. The award went to three anonymous individuals, each of whom will receive 5 percent of the monetary sanctions ultimately collected in a case against hedge fund manager...more
In its recent decision in J.P. Morgan Securities, Inc. v. Vigilant Ins. Co., 2013 N.Y. LEXIS 1465 (NY June 11, 2013), New York’s Court of Appeals – New York’s highest court – had occasion to consider whether an insured can...more
On October 26, 2011, the Commission filed an enforcement action in SEC v. Andrey C. Hicks and Locust Offshore Management, LLC, 1:11-cv-11888-RGS (D. Mass. 2011) (the “Locust Matter”). ...more
Retaliation cases continue to grow in number and, in a decision on June 4, 2013 of the Tenth Circuit Court of Appeals, in scope as well....more
The U.S. Commodity Futures Trading Commission (CFTC) received Federal Court orders to charge three Utah residents from Bentley Equities (Bentley), LLC, over $2.7 million in disgorgement and civil monetary charges for...more
The Securities and Futures Commission (the SFC), Hong Kong’s principal securities regulator, won a significant victory this past April in a long-running, high-profile case against New York hedge fund Tiger Asia Management LLC...more
On May 6, monoline insurer Assured Guaranty Ltd. announced a $358 million settlement with UBS and its affiliates stemming from losses on residential mortgage-backed securities that were issued, sponsored or underwriten by...more
This issue of the Credit Crunch Digest focuses on the dismissal of antitrust claims against major banks in Libor-related litigation; settlement in the Merrill Lynch/Bank of America merger case; settlement in the SAC Capital...more
Putting an end to shareholder derivative litigation arising from News Corp.’s phone-hacking scandal, the company’s directors agreed last week to a record-breaking $139 million cash settlement. According to the plaintiffs’...more
For more than thirty years, I’ve driven by, but never stopped at, the Roy Rogers and Dale Evans Museum in Victorville, California. The museum eventually relocated to Missouri but reportedly did not survive for long. Despite...more
On April 16, 2013, Judge Victor Marrero conditionally approved a $600 million consent judgment between the SEC and CR Intrinsic Investors LLC (“CR”) where CR “neither admitted nor denied” the allegations brought against it....more
Umesh Tandon, president, chief compliance officer, and sole owner of Simran Capital Management, recently agreed to a settlement with the SEC relating to alleged violations of the Investment Advisers Act of 1940 and the...more
On February 22, 2013, the United States Court of Appeals for the Second Circuit in In re Bernard L. Madoff Investment Securities LLC held that certain individuals who had invested indirectly in Bernard L. Madoff Investment...more
The recurring and pervasive problem of flawed confidential witness (“CW”) allegations tops my list of the key issues in securities class action litigation.* I don’t mean just notorious situations such as those recently at...more
On March 15, 2013, the Delaware Court of Chancery denied motions to dismiss filed by a group of director defendants and certain affiliated funds for claims brought by a group of stockholders. The claims allege that the...more
Plaintiffs’ counsel beware: to avoid Rule 11 sanctions you might actually have to talk to “confidential witnesses” yourself and corroborate their statements before citing them in a securities fraud complaint....more
The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court order for more than $3.5 million in restitution and civil monetary penalties against Nicholas Trimble and his two companies, Capstone FX...more
On Monday, February 25, Goldman Sachs won its bid to force former director Rajat K. Gupta to pay legal fees it incurred while investigating Gupta’s insider trading activities. In October 2012, Gupta was sentenced to two years...more
In this en banc opinion, the Delaware Supreme Court affirmed the Court of Chancery’s decision in Freedman v. Adams, et al., C.A. No. 4199-VCN (Del. Ch. Mar. 30, 2012), denying the plaintiff’s motion for an award of attorney’s...more
On January 24, Impac Funding Corp. settled a lawsuit brought by Citigroup Global Markets Inc. alleging violations of Sections 18 and 20 of the Securities Exchange Act and negligent misrepresentation based on alleged...more
On December 17, 2012, two Washington Mutual affiliates settled a lawsuit brought against them by Union Central Life Insurance Co. concerning $4.3 million in Washington Mutual-sponsored RMBS purchased by Union Central....more
Summary - The Federal Court handed down its judgement in the case of Bathurst Regional Council v. Local Government Financial Services Pty Ltd (No.5) [2012] 1200. The case was a class action brought by 13 councils...more
The US District Court for the Southern District of New York recently ordered the investment adviser to two hedge funds, and its managing director, to pay nearly $5 million in disgorgement, prejudgment interest and civil...more
The U.S. Commodity Futures Trading Commission (CFTC) issued a statement yesterday announcing that Judge Edward J. Lodge of the U.S. District Court of Idaho entered a permanent injunction requiring Trigon Group, Inc, to return...more
On November 16, German lender IKB Deutsche Industriebank AG sued Morgan Stanley and related entities in the Supreme Court for the State of New York for $147 million in connection with the sale of RMBS....more
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