Breach of Contract Fraud

News & Analysis as of

Do Treble Damages Mean Treble Rescission?

North Carolina law awards treble damages for violations of N.C. Gen. Stat. § 75-1.1 “if damages are assessed.” A recent Fourth Circuit decision asks this question: If a plaintiff seeks rescission, and if the defendant’s...more

Insurance Recovery Law - January 2016

Despite Finding Policy Application Misrepresentation, Jury Rules Against Policy Rescission - Why it matters: A federal jury concluded that Starr Surplus Lines Insurance Company did not have a valid basis to rescind the...more

ESG Capital Partners v. Passport Special Opportunities Master Fund, C.A. No. 11053-VCL (Del. Ch. Dec. 16, 2015) (Laster, V.C.)

In this memorandum opinion, the Court of Chancery granted in part and denied in part defendants’ motion to dismiss a complaint seeking declaratory relief in which plaintiffs alleged that certain investors in ESG Capital...more

California District Court Certifies Classes of Fixed Index Annuities Purchasers

The Southern District of California recently certified California and multistate classes of annuities purchasers in a case challenging the allegedly abusive design, execution, and pricing of fixed index annuities (FIA). The...more

Court Of Chancery Explains Jurisdiction For Veil-Piercing

This is an interesting decision for its discussion on what must be pled to obtain Chancery jurisdiction in a claim seeking to pierce the corporate veil. It is not enough to just allege the entity was used to defraud. Rather,...more

Insurance Recovery Law - October 2015

Unfair Trade Practices Exclusion Doesn't Cover Consumer Protection Suits - Why it matters: An unfair trade practices clause did not bar coverage for a policyholder's subsidiary, an Illinois federal court ruled, ordering...more

New Jersey Supreme Court Holds That Economic Loss is Not Needed To Recoup a Former Employee’s Salary for Breach of the Duty of...

On September 22, the New Jersey Supreme Court unanimously gave the green light to awards of the remedy of equitable disgorgement, even in the absence of economic loss, as a fair and practical response to an employee’s...more

Insurance Recovery Law - August 2015

Insured's Notice to Broker Satisfied Policy Requirements, Illinois Court Rules - Why it matters: An insured's notice to its broker satisfied the policy's notice requirements, an Illinois appellate panel recently...more

FTC Wins Lawsuit Over Its Robocall Contest

In 2012, the FTC sponsored a contest in which it invited contestants to submit their best solutions to block robocalls. After reviewing almost 800 entries, the FTC announced two winners. As we posted previously, though, one...more

Class action filed against UCLA following data breach

We previously reported that UCLA suffered a data breach affecting 4.5 million patients. Days following the announcement of the breach, plaintiffs filed a proposed class action lawsuit against UCLA, alleging that UCLA should...more

Tenth Circuit Addresses ERISA Limitations Provision in Class Action Decision

In Fulghum v. Embarq. Corp., 785 F.3d 395 (10th Cir. 2015), the Tenth Circuit Court of Appeals considered the claims of a class of telephone company retirees whose life and health insurance benefits were reduced or eliminated...more

CMS Investment Holdings, LLC v. Castle et al., C.A. No. 9468–VCP (Del. Ch. June 23, 2015) (Parsons, VC)

In this decision, the Delaware Court of Chancery largely declined to dismiss claims for breach of a limited liability company agreement, breach of the implied covenant of good faith and fair dealing, unjust enrichment, breach...more

Delaware Superior Court Explains Fraudulent Inducement Claims

ITW Global Investments Inc. v. American International Partners Capital Fund IV, L.P., C.A. No. 14C-10-236 JRJ (June 24, 2015) This decision explains several important aspects of Delaware law. First, a claim for fraud...more

Bankruptcy Beat: Former NFL Player Defeats Fraud Allegations Which Results In Discharge Of Debt

On March 31, 2015, the Honorable Albert S. Dabrowski issued a decision in Hamrah v. Coulette (In re Coulette), Adv. Pro. No. 13-2039, concerning the issue of whether an obligation created by a failed business investment gives...more

Arizona Reduces Punitive Damages in Insurance Bad Faith Case Again: Arellano v. Primerica Life Insurance

In Arellano v. Primerica Life Insurance Company, 235 Ariz. 371, 332 P.3d 597 (App. 2014), despite finding an insurer’s conduct moderately to highly reprehensible, the Arizona Court of Appeals recently reduced a punitive...more

Washington Insurance Law - 2014 Year in Review

Introduction: During the final six months of 2014, Washington judges issued several notable insurance-related decisions. As was the case during the first six months of 2014, many of those decisions were favorable to...more

Rhoads v. Margolis - Cal. App. 2d, January 26, 2015

In lawsuit brought by family of guitarist Randy Rhoads against writer and publisher of his biography, California appellate court affirms lower court denial of anti-SLAPP motion as it relates to family's breach of contract...more

The Guards Who Couldn’t Shoot Straight: Fourth Circuit Endorses “Implied Certification” Theory Under False Claims Act

Does the federal False Claims Act (“FCA”) require the submission of an “objectively false statement” to the government? When does a company’s knowing failure to comply with contractual terms amount not just to a breach of...more

Selling or Buying a Home? You Should Understand Pennsylvania’s Real Estate Seller’s Disclosure Law

When buyers encounter problems with a recently purchased house, understanding the rights and obligations imposed by Pennsylvania’s Real Estate Sellers Disclosure Law (“Disclosure Law”) can be critical. The Disclosure Law...more

First Circuit Concludes Plaintiff’s Delay Waived Arbitration Clause

Joca-Roca Real Estate, LLC sued Robert T. Brennan asserting claims of fraud and breach of contract arising out of an agreement between the two parties which contained an arbitration clause. Although Brennan raised the failure...more

Investor Claims NetTALK Executives Took Control of Board

On November 5, Telestrata, LLC brought a derivative shareholder action and direct action against NetTALK.com, Inc., a publicly traded telecommunication company, and NetTALK’s directors and officers, alleging that the...more

7th Cir. Leaves Distressed-Asset Investor With No Remedy, or Exactly What it Bargained for

It’s rare that a party to a contract can breach it but not be liable for a remedy. Yet that’s precisely what happened last week in Southern Financial Group, LLC v. McFarland State Bank, No. 13-3378 (7th Cir. Aug. 15, 2014), a...more

Federal District Court Finds General Allegations of Fraud, Duress, and Overreaching Insufficient to Invalidate Contract Dispute...

Dispute resolution provisions, such as forum-selection clauses, arbitration clauses, and choice-of-law clauses, are commonly included in modern business and employment contracts. A recent opinion in Zaklit v. Global...more

Fraudulent use of a service by hackers – a lesson for service providers

A recent case contains some salutary lessons for service providers concerning liability for fraudulent use of their services. It appears that unless the contract has clear terms to the contrary then the service provider, not...more

The Class Action Chronicle - Spring 2014

This is the third edition of The Class Action Chronicle, a quarterly publication that provides an analysis of recent class action trends, along with a summary of class certification and Class Action Fairness Act rulings...more

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