Personal Injury, Finance & Banking

Missouri Court Rejects Attempt to Plead Conversion into Coverage through Negligence Counts

by Kathryn Metz | Sedgwick LLP on 5/13/2013

In Allen v. Cont’l W. Ins. Co., 2013 WL 1803476 (Mo. Ct. App. April 30, 2013), the Missouri Court of Appeals found that a Commercial General Liability (“CGL”) insurer had no duty to defend its insureds, a title loan company...more

Court Dismissed Customer's Libel Claim Based On Credit Report

by David Johnson | Winstead PC on 5/13/2013

In Meisel v. U.S. Bank, Meisel was a customer of U.S. Bank who found an original signed payroll check dated several years earlier from his former employer. No. 05-11-01336-CV, 2013 Tex. App. LEXIS 1740 (Tex. App.—Dallas...more

Bank Account Searches: Are They Permissble?

by Edward Amaral on 4/18/2013

Lawyers and other professionals contact our office every day and ask whether it is permissible for an asset search company or private investigator to conduct bank, stock, bond or mutual fund account searches on a subject. The...more

Ohio Appeals Court Affirms Dismissal Of City’s Public Nuisance Suit Against Banks

by BuckleySandler LLP on 4/5/2013

On March 21, the Court of Appeals of Ohio, Eighth Appellate District, affirmed a trial court’s dismissal of a suit by the city of Cleveland, which sought damages from several financial institutions involved in the creation of...more

Little Tucker Act Does Not Waive Sovereign Immunity For Alleged Violation Of Fair Credit Reporting Act

by June D. Coleman, Danielle Teeters | Kronick, Moskovitz, Tiedemann & Girard on 4/5/2013

The United States Supreme Court recently held that the Little Tucker Act does not waive the sovereign immunity of the United States in an action for damages alleging a violation of the Fair Credit Reporting Act (“FCRA”). The...more

Magistrate Recommends Dismissal with Prejudice of Claims Against Global Payments

by Craig Hoffman | BakerHostetler on 2/20/2013

Global Payments, which processes credit card transactions, announced on March 30, 2012 that an unauthorized person gained access to a portion of its processing system. Global Payments later disclosed that Track 2 data (card...more

Mortgagees Beware -- Appointment of a Receiver is the Preferred Course for Rental Property in Foreclosure

by Letitia Accarrino | Wilentz, Goldman & Spitzer P.A. on 2/4/2013

The recent case of Rojas v. Rubenstein, No. A-5755-10T2, 2012 N.J. Super. Unpub. LEXIS 2359, 2012 WL 4935498 (App. Div. October 18, 2012), focused attention on the relative liabilities of a court-appointed receiver and a...more

When NJ Banks Are Liable For 3rd-Party Fiduciary Breach

by Steven Beckelman | McCarter & English, LLP on 1/30/2013

Originally published in Law360, New York on January 29, 2013. Banks, broker/dealers and other financial institutions often are the subject of claims by noncustomer investors, businesses, and estate and trust...more

$193 Million RMBS Suit Against Countrywide Dismissed as Untimely

by Orrick - Structured Finance Group on 1/23/2013

On January 10, Judge Mariana R. Pfaelzer of the United States District Court for the Central District of California dismissed a $193 million suit brought by mutual fund Asset Management Fund against several Bank of America...more

White v. Hollister Co. Illustrates Importance of Individual Questions in Class Certification

by Molly Cusson, Thomas Gilbertsen, Ari Rothman | Venable LLP on 1/11/2013

The California Court of Appeals January 3, 2013 decision in White v. Hollister Co. reversed and remanded the trial court’s opinion denying class certification to a class of consumers who claimed that defendant Hollister Co....more

Bank Liability to Non-Customers in a Ponzi Scheme

by Timothy R. Moore | Spilman Thomas & Battle, PLLC on 12/18/2012

The morning news reports flashes a report that your customer was actually a Ponzi scheme and defrauded numerous people. Of course, this is terrible news for the innocent victims, but, you ask yourself, could my bank be...more

Business and Commercial Litigation Newsletter #21 - October 2012

by Bernstein Shur on 11/1/2012

We are pleased to present the 21st edition of the Bernstein Shur Business and Commercial Litigation Newsletter. This month, we recap news about intellectual property rights, the sale of branded products and a U.S. lawsuit...more

Why and When to Conduct an Asset Search

by Edward Amaral on 9/15/2012

Asset Search services are one of those areas that most people know little about until they need them. For example, personal injury attorneys have conducted asset searches to satisfy their due diligence in finding a...more

Ninth Circuit Holds Reporting Fraudulent Accounts As Lost or Stolen May Violate FCRA

by BuckleySandler LLP on 8/13/2012

On August 7, the U.S. Court of Appeals for the Ninth Circuit revived a consumer’s suit against his bank and a consumer reporting agency (CRA) in which he alleges that the bank and CRA violated FCRA in connection with a...more

Bank Group Seeks Depublication Of Bank Libel Opinion

by Allen Matkins Leck Gamble Mallory & Natsis... on 8/1/2012

In this post, I wrote about a recent decision by the First District Court of Appeal declaring Financial Code Section 1327 unconstitutional on its face. Summit Bank v. Rogers, 2012 Cal. App. LEXIS 633 (May 29, 2012). That...more

Failure to Issue Litigation Hold Is Not Necessarily Gross Negligence, Second Circuit Holds

by Ballard Spahr LLP on 7/24/2012

In a decision that will surprise some, the U. S. Court of Appeals for the Second Circuit recently held in Chin v. Port Authority that the failure to issue a litigation hold is not gross negligence per se. This decision runs...more

Transportation, Distribution and Logistics Alert Newsletter -- July 2012: Recent Cases Illustrate Possibility of Substantial...

by McNees Wallace & Nurick LLC on 7/5/2012

Since the Schramm v. Foster, 341 F.Supp.2d 53 (D. Md. 2004), transportation companies have been aware of the possibility of suits and verdict against transportation brokers. This is significant because many carriers also...more

Financial Fraud Law Report: Financial Fraud Victims May Benefit from Swiss Bank's Disclosures

by Michael Diaz Jr. - Diaz Reus International... on 6/26/2012

Originally published in the July-August 2012 issue of the Financial Fraud Law Report. Lawyer Michael Diaz, Jr., Says Financial Fraud Victims May Benefit from Swiss Bank’s Disclosures Swiss banking giant UBS’...more

Credit Rating Agencies’ Opinions Are Not Immune

by Bilzin Sumberg Baena Price & Axelrod LLP on 6/12/2012

Recently, U.S. District Judge Shira A. Scheindlin, Southern District of New York, rejected the contentions of Morgan Stanley & Co. Inc. and several ratings agencies, including Standard & Poor’s, Moody’s and Fitch, that credit...more

U.S. Automobile Dealers Sue Indian Truck Manufacturer For Fraud And Conspiracy

by Michael Diaz Jr. - Diaz Reus International... on 6/7/2012

ATLANTA, GA (June 5) – U.S. automobile dealers from across the country filed a lawsuit yesterday accusing the Indian truck manufacturer Mahindra & Mahindra, Ltd. and its U.S. counterpart of fraud, misrepresentation, and...more

The Check Book -- A Guide for Check Disputes -- May 2012

by Manatt, Phelps & Phillips, LLP on 6/4/2012

Note to Readers Not Legal Advice. This Guide is not intended to express any legal opinions or to provide legal advice. You should consult an attorney for legal advice. Code Interpretations. You should refer to the...more

Overlapping Auto Coverage In The New Age

by Field Law on 5/14/2012

The Alberta government, in its wisdom (or lack thereof) has recently changed the rules for situations of overlapping auto coverage. In this paper, I will summarize the changes with a particular focus on non-owned auto...more

Buyer Beware: 363 Sale May Not Absolve Successor Liability

by Mintz Levin - Bankruptcy, Restructuring &... on 4/19/2012

It has long been understood by buyers of assets of distressed companies that once a sale is authorized pursuant to Section 363 of the Bankruptcy Code, the buyer is absolved of any liabilities which may have encumbered the...more

Pa. Appellate Court Issues Opinion in Dietz v. Chase Home Finance, LLC, Clarifying Preemption of State Common Law Claims by Fair...

by Duane Morris LLP on 4/16/2012

The decision in Dietz is one of first impression in the Pennsylvania appellate courts and essentially forecloses would-be plaintiffs from asserting common law claims against creditors based on incorrect credit reporting,...more

Diaz Reus Partner, Israel Reyes, Represents Landmark Hotel Owner In Suit Against German Bank

by Michael Diaz Jr. - Diaz Reus International... on 3/19/2012

In a case with international financial implications, Casa Casuarina LLC, owner of a landmark Miami Beach resort property, is suing its mortgage holder German bank WestLB on multiple counts of alleged fraud. “We are...more

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Personal Injury › Finance & Banking