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The Pension Case: The State’s Reply Brief

In their reply brief in the Public Pension Reform Act appeal, the State immediately zeroes in on what it perceives as the central difficulty of the plaintiffs’ position: the trial court’s conclusion that the Pension...more

Eleventh Circuit Ruling Gives Large Bank Another Chance at Arbitration

On an appeal of five putative class actions alleging the unlawful charging of overdraft fees on consumer checking accounts, On February 10, the U.S. Court of Appeals for the Eleventh Circuit vacated a lower court order...more

Finding the Earliest and Least Expensive Exit From Financial Services Class Actions

Effectively responding to class litigation doesn’t necessarily mean simply preparing an answer or perfunctory motion to dismiss, diving headlong into class discovery, investing in full-fledged combat on the merits of the...more

Corporate and Financial Weekly Digest - Volume X, Issue 8

In this issue: - CBOE Proposes to Offer Extended Trading Hours for SPX and VIX Options - CFTC Staff to Host Public Roundtable on Recovery and Orderly Wind-Down of DCOs - CFTC Reopens Comment Period for...more

Banking & Financial Services E-Note - February 2015

In This Issue - - Coquina Investments v. TD Bank: Examining a Non-Party’s Invocation of the Fifth Amendment - SideBAR - Dodd-Frank Act Update Financial Fraud Law Report - Post-Crawford FDCPA Claim...more

Looking Back at Five Years of Citizens United

This month marked the fifth anniversary of the Supreme Court handing down its decision in Citizens United v. FEC. More than perhaps most other recent Supreme Court decisions, Citizens United has remained in the public...more

Update: Finding the Earliest and Least Expensive Exit from Financial Services Class Actions

In this Newsletter: - Gather The Facts And Assess The Risk Up Front. - If The Class Action Is Filed In State Court, Think Strategically About Whether To Remove. - Invest Time, Effort And Resources In...more

Second Circuit Narrows Class Standing Doctrine

In NECA-IBEW v. Goldman Sachs, the Second Circuit arguably opened up a new door in class action litigation when it held that investors in one securities offering had standing to represent a putative class of investors in...more

Same-Sex Spouse Has No Standing to Assert COBRA Notice Claim

A New Jersey federal district court held (in an unpublished opinion) that a former plan participant’s same-sex spouse who never enrolled in the benefit plan did not have standing to assert a claim alleging that his spouse’s...more

TCPA Connect - February 2015

TCPA Suit on Hold Pending FCC Petitions - A federal court judge has stayed a class action pending a decision by the Federal Communications Commission on the issue of whether the agency overstepped its bounds by issuing...more

The Illinois Pension Plaintiffs’ Brief: The Cause of State Underfunding, and The Constitutional Convention Revisited

As we’ve written previously, the plaintiffs in the Pension Reform Litigation pending before the Illinois Supreme Court needed to accomplish three things in their Appellees’ Briefs to put themselves in a position to prevail –...more

Puerto Rico Debt Recovery Act Ruled Unconstitutional1

On Friday February 6, the Puerto Rico Federal District Court ruled the Debt Enforcement and Recovery Act (the “Recovery Act”) unconstitutional. Franklin Calif. Tax-Free Trust, et al. v. Comm. Of Puerto Rico et al., (D.P.R.,...more

Pensions at the Constitutional Convention, Part II: The Clause is Introduced

Although there were several reasons for the 1970 Illinois Constitutional Convention, public pensions became a major subject of discussion in the weeks before the delegates gathered. Elmer Getz, the Chair of the Convention’s...more

Pensions at the Constitutional Convention, Part III: The Opponents and the Vote

We conclude our discussion of the July 21, 1970 debate on the Pension Protection Clause at the Illinois Constitutional Convention. Today, we’ll take a look at more statements by opponents of the measure, the summations by...more

Property Valuation Topics: Winter 2015

Thorny Exemption Issue Discussed - Limited Liability Company X owns property in the Town of Windham which it leases to Corporation Y. Both entities are tax exempt under the Internal Revenue Code. Both entities...more

Texas Federal Court Rejects Challenge to ‘No Credit Card Surcharge’ Law

A federal district court in Texas has dismissed a lawsuit brought by several merchants challenging the constitutionality of a state law that prohibits merchants from imposing a surcharge on credit card purchases. In Rowell v....more

"France's Double-Trial System for Market Abuses May Be Headed for Reform"

In 2015, the French double-trial system for market abuses will be referred to the Constitutional Council for an assessment of the system’s constitutionality under the double jeopardy rule (or, using the Latin maxim, the ne...more

U.S. District Court Holds that Puerto Rico's Recovery Act is Unconstitutional

On February 6, 2015, Judge Francisco Besosa of the U.S. District Court for the District of Puerto Rico held that the Puerto Rico Public Corporation Debt Enforcement and Recovery Act (the “Recovery Act”) is expressly preempted...more

Supreme Court Update: TEVA Pharmaceuticals USA V. Sandoz (13-584); Department Of Homeland Security V. Maclean (13-894); Holt V....

Greetings, Court fans! While we in New Haven were more-or-less spared having to dig out from "Winter Storm Juno" (aka "snowbigdeal"), it's taken us a while to dig out from the Court's recent pile of opinions. With this...more

Federal Mortgage Programs are Exempt from County Transfer Tax

In City of Spokane v. Fed. Nat. Mortgage Ass'n (December 30, 2014, No. 13–35655) ____ F.3d.___, the Ninth Circuit Court of Appeal recently affirmed that federal mortgage programs and administering entities, such as Fannie Mae...more

Illinois Supreme Court Denies All Ten Amici Requests in Support of State in Pension Appeal

Over four days in mid-January, no fewer than ten entities – public entities, charitable institutions and individuals – filed motions for leave to file amicus briefs in support of the State’s defense of the public pension...more

Is There a Constitutional Right to 12% Interest?

Central bankers have been the bane of a saver’s return for awhile now, but Wisconsin’s court of appeals appears to have carved out a place for litigants to earn a market-beating return. In a decision issued by District II...more

Nossaman Comment on Recent Court of Appeal Decision re Constitutionality of PEPRA

Much has been made of the recent Court of Appeal decision resolving a challenge to the Public Employees' Pension Reform Act of 2013 (PEPRA), Deputy Sheriffs' Assn. of San Diego County v. County of San Diego (Jan. 22, 2015,...more

Debtor-trustees can run but they can’t hide behind the Fifth Amendment

Judgment debtors often try to use the Fifth Amendment’s privilege against self-incrimination to avoid post-judgment discovery of their assets and income. However, the U.S. District Court for the Eastern District of Missouri...more

State’s Defense of Pension Reform: Constitutional Convention Couldn’t Make Pension Protection Absolute (Even If It Wanted To)

Today we continue our discussion of the centerpiece of the Illinois Supreme Court’s civil docket – the public pension reform case – with a look at the State’s Opening Brief, which was filed January 12, 2015. As we’ll see...more

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