Civil Remedies Finance & Banking Civil Procedure

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ERISA — 9th Circuit: Plaintiffs Can Now Simultaneously Bring Benefit Payment and Equitable Claims

Lane Powell attorney Mike Baylous writes an excellent summary here on big changes to ERISA in the 9th Circuit. Remember that old argument that equitable claims should be dismissed because they are duplicative?...more

Supreme Court Vacates Ninth Circuit Decision in Spokeo, Remands for Analysis of Concrete Harms

On May 16, 2016, the Supreme Court issued its decision in Spokeo v. Robins, which posed the question of whether Article III standing requires a plaintiff to have a concrete injury when alleging a statutory violation under the...more

Supreme Court: ‘Actual Injury’ Needed to Establish Standing to Sue for Violations of Fair Credit Reporting Act

Plaintiffs must show they suffered from an actual injury, not just a “bare procedural violation,” in order to sue in federal court, the U.S. Supreme Court has ruled in its long-awaited decision in Spokeo, Inc. v. Robins, No....more

Ninth Circuit Bankruptcy Appellate Panel Holds that an Oversecured Creditor Is Entitled to Default Interest After the Petition...

In Wells Fargo Bank, N.A. v. Beltway One Dev. Grp., LLC (In re Beltway One Dev. Grp., LLC), 547 B.R. 819 (B.A.P. 9th Cir. 2016), the Ninth Circuit Bankruptcy Appellate Panel recently held that an oversecured creditor is...more

This Week In Securities Litigation

The Supreme Court concluded this week that a suit based on short selling filed in state court alleging state law causes of action was not preempted by the exclusive jurisdiction provision of Exchange Act Section 27 simply...more

Defence & Indemnity - April 2016: III. QUANTUM/DAMAGES ISSUES: B.

B. In assessing the quantum for loss of future income earning capacity, negative contingencies must be supported by evidence. Sunner v. Rana, 2015 BCCA 406, per Chaisson, J.A. [4178]...more

Class Action: Supreme Court Rules That Federal Plaintiffs Must Show a “Concrete” Injury

Some may view it as a blow to consumer class actions, while others might characterize it as an example of a high court “punting” on a key issue, but regardless of one’s characterization, the United States Supreme Court’s 6-2...more

The United States Supreme Court Issues Two (2) Important Rulings Today which Provide Important Interpretations of what is Consumer...

In a 6-2 decision, the United States Supreme Court on Monday sided with an online "people search engine" company, Spokeo.com ("Spokeo"), to provide critical insight as to when and how consumers can sue for privacy violations...more

Supreme Court Decides Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning

On May 16, 2016, the Supreme Court of the United States decided Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, No. 14-1132, holding that that the “arising under” test for federal-question jurisdiction under 28 U.S.C....more

Supreme Court Decides Husky International Electronics, Inc. v. Ritz

On May 16, 2016, the U.S. Supreme Court decided Husky International Electronics, Inc. v. Ritz (No. 15-145), holding that the term “actual fraud” in § 523(a)(2)(A) of the Bankruptcy Code (one of the discharge exceptions)...more

Supreme Court Decides Sheriff v. Gillie

On May 16, 2016, the U.S. Supreme Court decided Sheriff v. Gillie, No. 15-338, holding that special counsel retained by Ohio’s Attorney General to collect debts on the state’s behalf did not violate the Fair Debt Collection...more

Factors and stages: considerations in a scheme of arrangement - A case update of Re Punj Lloyd Pte Ltd and another matter [2015]...

A recent decision by the learned Judicial Commissioner Aedit Abdullah saw the Singapore High Court clarify the factors which ought to be considered in an application to set aside an order made by the court pursuant to section...more

Alabama Court of Civil Appeals Affirms Revival of 11-Year Old Uncollected Judgment Based on Affidavit Testimony of Creditor’s...

In Gloor v. BancorpSouth Bank, No. 2140914 (Ala. Civ. App. April 1, 2016), the Alabama Court of Civil Appeals held that a creditor may revive and collect on an unpaid judgment that is older than 10 years, further clarifying a...more

SEC Files Offering Fraud Action Centered on Warrants From Private Firm

The SEC filed another offering fraud action, a current staple of the agency. This scheme centered on two former executives of a privately held software manufacturer and a marketer who sold investors interests in various...more

SEC Settles Insider Trading Action With Corporate Executive

Insider trading has long been a staple of SEC enforcement. The agency has brought a number of actions against corporate executives who have abused their position by using inside information entrusted to them for personal gain...more

SEC Sanctions Audit Firm, Partner Tied to Custody Rule

Custody Rule cases are rapidly becoming a staple of SEC enforcement. Rule 206(4)-2 requires registered investment advisers with custody of client funds or securities to implement certain controls to protect those assets....more

UK Financial Regulatory Developments - April 2016 #19

FCA decides to ban former LIBOR trader - FCA has published its Decision Notice concerning a former derivatives trader at UBS, Arif Hussein, banning him from performing any significant influence function relating to any...more

Florida Appellate Court Bolsters Statutory HOA Safe Harbor

A significant opinion from the Florida Third District Court of Appeal further clarifies the extent of the Florida statutory homeowners association (HOA) “safe harbor.” In the end, entities that obtain title through judicial...more

SEC Settles With Apple Stock Day Trader

Apple stock is well known and popular among investors. It is also attractive to fraudsters who focus on the high tech giant’s shares for schemes. One scheme, for example, brought down New York brokerage Rochdale Securities...more

SEC Prevails At Trial Over Former Professional Athlete

Sometimes is does not pay to be the last man standing – particularly in a Commission enforcement action. Such was the fate of former NFL player and Olympic athlete Willie Gault. SEC v. Heart Tronics, Inc., Case No....more

Ninth Circuit Rulings on Equitable Mootness in Transwest and Sunnyslope Impact Third Party Investors

The doctrine of equitable mootness provides that Chapter 11 reorganization plans will be deemed moot, and therefore not subject to appellate review, if a plan has been substantially consummated and granting appellate relief...more

SOX Whistleblower Receives $250,000 Award Related to State Wage Act Complaints

The ARB recently concluded that a former program manager was entitled to recover more than $250,000 in back pay and benefits under Section 806 of SOX based on his discipline and constructive discharge. The ARB clarified that...more

Negative Pledge Pros and Cons

Does a Lender really get any protection from a Negative Pledge provided by a Borrower? In some situations where a Lender would like to have security for its loan but the Borrower cannot, or will not, grant a mortgage or...more

Supreme Court of South Carolina sides with MERS in Kubic v. MERSCORP Holdings, Inc.

On March 30 2016, the Supreme Court of South Carolina weighed in on the attempts of several South Carolina counties to make Mortgage Electronic Registrations Systems, Inc. (MERS), and its member banks pay for the correction...more

Failure to Timely Pay Texas Ad Valorem Taxes: Reminders for Taxpayers and Secured Lenders

The extended downturn in the oilfield economy is showing up in some taxpayers’ inability to pay their Texas real property and personal property ad valorem taxes when those taxes become due. This note reminds taxpayers what...more

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