Two-Pronged Approach to Defending Lawsuits – Interview with Dominic Picca, Member, Mintz Levin
Class Action Litigation Reform – Interview with Dan Pascucci, Member, Mintz Levin
Arbitration - An Alternative to Litigation for Dispute Resolution
Elmo Sex Scandal: More Accusers May Come Forward, Says Lawyer
Newtown Shootings Could Give Rise to More Litigation, Says Pinsky
Whalen: Go Back To The Future To Fight Fraud With Equity Receivers
Several months ago, I raised the question of why the large-scale accounting fraud cases of the type that had been so prevalent in the early 2000s were no longer a staple for either federal prosecutors or the SEC. In so doing,...more
On January 29, the DOJ filed a supplemental brief in support of its claim for civil penalties following a jury verdict it obtained last October in the first case alleging violations of FIRREA in connection with loans sold to...more
The U.S. Court of Appeals for the Sixth Circuit has affirmed an unusually large award of $3.8 million in a case involving the denial of long-term disability benefits. In Rochow v. Life Insurance Company of North America, No....more
Maybe I’m just getting a head start on my “bah humbug” mood for the holidays, I don’t know. Did it strike anyone else as discordant that almost a third of the record-setting JPMorgan RMBS settlement was ear-marked to fund...more
Wow—You need to know what happened last week in the Sixth Circuit:
Disgorgement of profits as a remedy in an ERISA long term disability case?
Rochow v. LINA, __ F.3d __, 2013 WL 6333440 (6th Cir. December 6,...more
On October 17, the Nevada Attorney General filed court documents disclosing a $11.5 million settlement with DB Structured Products, Inc., a unit of Deutsche Bank AG. The Nevada AG had investigated DB Structured Products’...more
This week we examine the recent Judge Posner authored decision in Hughes v. Kore of Indiana Enterprise, Inc. that discusses class action notice requirements and the utility of cy pres decrees. We also examine the bombshell...more
There is more to learn from Southwestern Energy Production Co. v. Berry-Helfand and Muncey, discussed in a recent post.
Damages – With Room to Run, the Expert Scores.
Courts are entitled to be “flexible and...more
On August 8, 2013, the Second Circuit vacated the SEC’s $38 million fine against hedge fund Pentagon Capital Management PLC, holding that the Supreme Court’s decision in Gabelli v. SEC required the case to be remanded for...more
CLASS ACTION COMPLAINT FOR BREACH OF CONTRACT, BREACH OF IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING, VIOLATION OF THE UNFAIR COMPETITION LAW, AND PROMISSORY ESTOPPEL.
THE 9TH CIRCUIT COURT OF APPEALS REVERSED THE...more
Wells Fargo Mortgage Modification Lawsuits Revived by Court
In a separate action involving Wells Fargo, a U.S. Court of Appeals held that the bank must face lawsuits by home loan borrowers for refusing to offer them...more
This week we take a look at the recent Seventh Circuit decision in Abbott v. Lockheed Martin Corp., in which the court order the certification of a class action based upon breach of fidcuiary duty under ERISA for a...more
July 2013 was a big month for the Securities and Exchange Commission (the "SEC") in its quest to increase enforcement in the municipal market. On July 19, 2013, the SEC charged the City of Miami, Florida ("Miami"), and its...more
The US Court of Appeals for the Second Circuit has affirmed the lower court’s order directing Joseph Skowron III, a convicted insider trader and former portfolio manager at Morgan Stanley, to pay his former employer $10.2...more
In 2008, Rajat Gupta made a handful of short phone calls to his friend Raj Rajaratnam. The information that Gupta conveyed to Rajaratnam in those phone calls is now likely to cost Gupta millions of dollars, two years in...more
In Kenseth v. Dean Health Plan, Inc., __ F.3d __, 2013 WL 29991466 (7th Cir. 2013), the U.S. Court of Appeals for the Seventh Circuit changed course in the wake of the U.S. Supreme Court decision in CIGNA v. Amara, __ U.S....more
In a case that may have far-reaching consequences, a lawsuit was filed in federal court in Colorado accusing Bank of America of racketeering (RICO).
It was a game to the bank. They intentionally lured people into what they...more
A trial judge has ordered the lender to execute a permanent modification based upon the borrowers total compliance with the provisions of the trial modification.
Wells Fargo (Wachovia) was given the terms of the...more
The transition of many companies from using traditional "final average pay" plans to "cash balance" pension plans in the last two decades has created significant employee discontent, and therefore substantial litigation. ...more
Policyholders Who Audit Their Policy Language Before Coverage Disputes Arise Can Avoid Problems Down The Road -
Policyholders purchase excess insurance policies to provide themselves with additional layers of...more
Deloitte LLP’s financial advisory services unit agreed to pay $10 million and accept a one-year ban from consulting for New York-regulated banks to settle regulators’ allegations the firm mishandled its anti-money-laundering...more
Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure: These allegations were...more
Overdraft fees—many of them encouraged and generated through unfair and deceptive practices—cost consumers billions of dollars each year. Overdrafts are a particular problem when consumers use a debit card to make purchases...more
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
Defendants allegedly adopted a uniform practice designed to maximize fees assessed on delinquent borrowers’ accounts.
As part of the scheme, Defendants “formed an enterprise with their respective subsidiaries, affiliates,...more
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