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The California Court of Appeals recently held that the Federal Arbitration Act (“FAA”) preempts California’s Broughton-Cruz rule, which states that arbitration agreements for injunctive relief under California’s unfair...more
Lawsuits filed by the Hawaii Attorney General alleging that card issuers deceptively advertised add-on products belong in state court – and are not preempted by the National Bank Act (NBA), the Ninth U.S. Circuit Court of...more
On August 1, the U.S. Court of Appeals for the Ninth Circuit held that neither the federal question statute nor the Class Action Fairness Act provide a federal district court with subject matter jurisdiction over the Hawaii...more
On December 2, the U.S. Court of Appeals for the Fifth Circuit held that a set of parens patriae suits filed by the Mississippi Attorney General (AG) against credit card issuers is not subject to federal jurisdiction under...more
Over a year ago, Congress directed the Securities and Exchange Commission to amend its rules to permit general solicitations in Rule 506 and Rule 144A offerings. The SEC failed to meet Congress’ deadline by over a year. See...more
On May 14, the U.S. District Court for the Northern District of California reinstated a prior order enjoining a national bank from engaging in false or misleading representations relating to certain overdraft practices and...more
Lawyers crave structure. Give them a cause of action that has several well defined elements and you can keep them occupied for days on end, arguing about each prong. If you number the elements so they can converse in code, so...more
Courts are dispute resolution venues of last
resort. When a matter goes to court, disputants
have relinquished their ability to resolve their differences by negotiation. The initiation of
legal proceedings in a court of...more
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