Securities Energy & Utilities Civil Procedure

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CFTC Proposes Reversing Course, Granting Private Right of Action in Energy Market Manipulation

Last week the Commodity Futures Trading Commission (CFTC) issued a notice of proposed order and request for comment proposing to allow a private right of action to enforce violations of the anti-manipulation, anti-fraud or...more

Second Circuit Issues Amended Order Affirming Dismissal in Transocean

On April 29, the United States Court of Appeals entered an amended order (previously decided on March 17, 2016) that affirmed the decision of the United States District Court for the Southern District of New York in DeKalb...more

Australian Competition & Regulation Update - Misuse of Wholesale Electricity Market Power - US Class Action Proceeds

WHAT HAPPENED IN THE US? Class Action to proceed On 1 April 2016, a US District Court allowed a class action to proceed. The action was brought by Merced Irrigations District (Merced) against Barclays Bank PLC...more

Long-Awaited Decision is a Mixed Result for Litigants Battling FERC Enforcement Actions in Federal Court

Individuals and organizations litigating the imposition of civil penalties by the Federal Energy Regulatory Commission (“FERC” or “Commission”) under its anti-manipulation authority in federal court received another opinion...more

Eighth Circuit Breathes Life Into Halliburton's Price Impact Defense

The First Circuit Court of Appeals decision applying the Supreme Court's landmark 2014 decision in Halliburton Co. v. Erica P. John Fund Inc., 134 S. Ct. 2398 (2014) ("Halliburton II"), favored the defendants, finding as a...more

Court Dismisses Secondary Market Securities Class Action Based on Extensive Evidence

In Coffin v. Atlantic Power Corp., the Ontario Superior Court of Justice considered two motions: (1) for leave under section 138.8 of the Ontario Securities Act (the “OSA”) to commence an action for secondary market...more

Blog: Deadline For Filing Cert Petition Extended Again In Conflict Minerals Case

The Chief Justice has granted another extension of time for the SEC to file a petition for cert in Natl Assoc. of Manufacturers v. SEC, the conflict minerals case. The SEC now has until April 7, 2016 to file its...more

Looking Forward: Canadian Class Actions in 2016

Looking Forward - The last few years have been active for class actions in Canada, and the activity did not slow down in 2015. This past year, Bennett Jones was involved with some of the most important class...more

Court in BP Oil Spill Litigation Denies Standing for Special Purpose Entities Created Solely for Litigation

A January 4, 2016 opinion in the Southern District of Texas by Judge Keith Ellison (“Op.”) in the In re: BP p.l.c. Securities Litigation, MDL No. 4:10-md-2185, has taken up the issue of whether plaintiffs can properly assign...more

Kamala Harris Puts Exxon Under Her Microscope: California AG Reportedly Has Launched Review of Oil Giant’s Statements On Climate...

Students of history know that fighting a two front war is a hazard to be avoided. According to the L.A. Times, however, that is precisely the dilemma that now faces Exxon Mobil: dual investigations from attorneys general on...more

State Attorneys General Investigations and Enforcement: What to Expect in 2016

In recent years, state Attorneys General (“state AGs”) have significantly increased their investigative and enforcement efforts across a wide range of industries and matters, and these new efforts present a growing challenge...more

FERC enforcement report cites screenshots, keylogger

The Federal Energy Regulatory Commission has issued an Order to Show Cause and Notice of Proposed Penalty against Coaltrain Energy, L.P. and six individuals relating to alleged fraudulent transactions in PJM Interconnection...more

A New Front in the Climate Change Debate

The climate change debate has taken a new turn with the recent revelations from New York Attorney General Eric Schneiderman’s office. A legal perspective from Skadden attorneys Noelle Reed and Wallis Hampton....more

Somewhere over Africa: When Eurobonds and high yield bonds meet - New issuers and investors are driving growth and change in...

In 2015, two simultaneous market trends are developing across emerging markets: (1) The emergence of the international capital markets as a primary funding source for African issuers (sovereign and corporate) across the...more

Standing of Petrobras Opt-Out Plaintiffs Challenged

A recent motion to dismiss filed by the defendants in the In re Petrobras Securities Litigation, No. 14-cv-9662 (S.D.N.Y.) consolidated litigation challenges the standing of several institutional opt-out plaintiffs. ...more

Blog: District Court Compels SEC To Provide “Expedited Schedule” For Issuing Dodd-Frank Resource Extraction Rule — Will Other Rule...

A U.S. District Court has handed a victory to Oxfam America in its efforts to compel the SEC to complete rulemaking on the Dodd-Frank mandate regarding resource extraction disclosures (Section 1504). ...more

Blog: Three-Judge Panel Of D.C. Circuit Again Holds That Mandatory Disclosure Requirement Of Conflict Minerals Rule Violates First...

In November 2014, the D.C. Circuit Court of Appeals granted the petitions of the SEC and Amnesty International for panel rehearing in connection with the conflict minerals case, National Association of Manufacturers, Inc. v....more

BP Case May Again Test Limits of FERC’s “In Connection With” Enforcement Jurisdiction

A Federal Energy Regulatory Commission (FERC) Administrative Law Judge last week issued an Initial Decision finding that BP America (BP) and certain related BP entities violated FERC’s Anti-Manipulation Rule. Following a...more

Alabama Supreme Court Affirms Dismissal in Walter Energy

On February 20, 2015, the Alabama Supreme Court affirmed the order of the Circuit Court of Jefferson County, Alabama dismissing claims asserted by Walter Energy, Inc. against investor Julian A. Treger, his firm Audley Capital...more

Court Finds CFTC RTO/ISO Exemptive Order Bars CEA § 22 Private Right of Action, but More to Come from the CFTC

Can private litigants bring claims under the Commodity Exchange Act alleging manipulation in ERCOT’s energy markets? On February 3, the U.S. District Court for the Southern District of Texas answered “no,” granting...more

Frac(k)ing, Parr v. Aruba, and Minority Oppression

WHAT IS IT, FRACING OR FRACKING? Having gone back-and-forth over how to spell the process, I’ve figured it out....more

D.C. Circuit Largely Upholds SEC’s Conflict Minerals Rule But Supports First Amendment Challenge

On April 14, the D.C. Circuit Court of Appeals issued an opinion in National Association of Manufacturers v. SEC, a case that sought to challenge the conflict minerals rule released by the Securities and Exchange Commission...more

Mandate Withheld In Conflicts Minerals Case

In a little known action, the Clerk of Court of the Unites States Court of Appeals for the District of Columbia issued an order in the conflicts minerals case to withhold issuance of a mandate until seven days after...more

Court Ruling Regarding the Dodd-Frank Conflict Minerals Disclosure Requirements

A panel of the U.S. Court of Appeals for the D.C. Circuit held today that a portion of the SEC’s conflict minerals reporting regulations – and possibly a portion of the underlying Dodd Frank Act – compel speech in violation...more

Could “Free Speech” Issues Derail the SEC’s Conflict Minerals Rule?

Shortly after the Securities and Exchange Commission (“SEC”) adopted its conflict minerals disclosure rule in August 2012, a coalition of business interests filed suit to challenge the SEC’s rule as unduly burdensome. That...more

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