News & Analysis as of

Breach of Duty Professional Liability

Freiberger Haber LLP

In Pari Delicto … What Does That Mean?

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In Seitz v. Marcum LLP, 2024 N.Y. Slip Op. 51141(U) (Sup. Ct., N.Y. County Aug. 30, 2024) (here), Justice Robert R. Reed of the New York County Commercial Division addressed the doctrine of in pari delicto, which “bars a...more

Rumberger | Kirk

Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims

Rumberger | Kirk on

Professional liability claims impact a multitude of professions, including those in the legal, medical, financial and insurance industries. Claims for malpractice, breach of contract, breach of fiduciary duty and related...more

Hinshaw & Culbertson - Lawyers for the...

A Defense Win in Texas on the Issue of "But For" Proximate Causation in a Legal Malpractice Case

Forshee v. Moulton, 2024 Tex. App. LEXIS 2520 (Houston [14th Dist.] April 11, 2024) - Brief Summary - The Texas Court of Appeals held that when a plaintiff's claim against her former attorney properly is grounded in...more

Hinshaw & Culbertson - Lawyers for the...

Illinois Appellate Court Affirms Default Judgment Against Attorney After He Repeatedly Fabricated Expert Witness Disclosures "From...

Iavor Stoyanov v. Himont Law Group, Ltd., et al., 2024 IL App (1st) 221434-U (April 15, 2024) - Brief Summary - The First District Appellate Court in Illinois held that the trial court (Judge Patrick J. Sherlock) was correct...more

Marshall Dennehey

Court Affirms Validity of Finra’s Six-Year Eligibility Rule

Marshall Dennehey on

Strickland v. Calton & Associates, FINRA Case #22-02233 - The claimant asserted causes of action, including breach of fiduciary duty, negligence, violation of the Arizona Consumer Fraud Act, and negligent misrepresentation...more

Marshall Dennehey

Broker-Dealer Found Grossly Negligent for Employees’ Ponzi Scheme Operated Out of Its Offices

Marshall Dennehey on

A group of investors alleged causes of action, including breach of fiduciary duty and respondeat superior, against the broker-dealer for its failure to supervise four of its employees who operated a Ponzi scheme out of the...more

Marshall Dennehey

Legal Updates for Lawyers’ Professional Liability - CASE LAW UPDATE

Marshall Dennehey on

Kohut v. Vlahos, 289 A.3d 96 (Pa. Super. 2022), purported named beneficiaries to a will cannot state a legal malpractice claim based upon an unsigned will. “Until Decedent signed a revised will, his purported intent to...more

Allen Matkins

Is This The Case That Ate Delaware Corporate Law?

Allen Matkins on

In a recent feature published by the Washington Legal Foundation, UCLA Professor Stephen Bainbridge casts a jaundiced eye toward Vice Chancellor J. Travis Laster's recent ruling in In re McDonald's Corp. Stockholder Deriv....more

Wiley Rein LLP

Duty to Defend Where Complaint Contains Potentially Covered Allegations

Wiley Rein LLP on

The United States District Court for the Southern District of Florida, applying Florida law, has determined that two lawyers professional liability insurers had a duty to defend where the underlying complaint included at...more

Wiley Rein LLP

Law Firm’s Misrepresentations in Insurance Application Warrant Recission Under Utah Statute

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The United States District Court for the District of Utah, applying Utah law, has held that a law firm’s representation in its insurance application that it lacked knowledge of any incident, act, error, or omission that could...more

Wiley Rein LLP

Lawyer’s Professional Liability Insurer has Duty to Defend Suit Alleging Sexual Assault of Client

Wiley Rein LLP on

Applying Maine law, the United States District Court for the District of Maine has held that a legal professional liability insurer had a duty to defend an insured attorney against a suit alleging sexual assault of a client,...more

Hinshaw & Culbertson - Lawyers for the...

Georgia Malpractice Judgment Reversed Because Trial Court Improperly Allowed Jury to View Complaint With Dismissed Claims

A Georgia appellate court held that plaintiff's nearly $6 million damage award was improper because the trial court permitted the jury to view a copy of the complaint which included allegations and claims that had been...more

Womble Bond Dickinson

Real Plaintiffs’ TCPA Lawyers of Florida: Brawl Between Two Law Firms Over a Class Settlement with the Tampa Bay Bucs Proves a...

Womble Bond Dickinson on

Sit back and grab your popcorn. I’m about to tell you about a recent ruling involving a fight over a class settlement with the Tampa Bay Buccaneers in a junk fax TCPA class action. While this story might sound like it’s...more

Akin Gump Strauss Hauer & Feld LLP

Big Data and the Risks of Insider Trading

In the perennial quest for alpha, investment managers have turned increasingly to big and alternative data for market insights. The most prominent consumers of this data on Wall Street are managers of ‘‘quant’’ funds, which...more

Brooks Pierce

The Insider Trading Cartoon Series, Vol. 13 -- The Barry Switzer Story

Brooks Pierce on

Let's take a stroll back to 1981, when football coach Barry Switzer overheard some information that might have become very profitable. Or would it? It's important to remember that in most insider trading cases, there must be...more

Bryan Cave Leighton Paisner

2015 Georgia Corporation and Business Organization Case Law Developments

This survey covers the legal principles governing Georgia businesses, their management and ownership. It catalogs decisions ruling on issues of corporate, limited liability company and partnership law, as well as transactions...more

Manatt, Phelps & Phillips, LLP

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

Cadwalader, Wickersham & Taft LLP

Chancery Court Provides Lessons on Conflicts of Interest in a Sales Process – Holds Only Financial Advisor Open to Liability

In an October 1st decision (In re Zale Corporation), the Delaware Chancery Court dismissed claims that Zale Corporation’s directors breached their fiduciary duties in connection with Zale’s agreement to merge with Signet. ...more

Bracewell LLP

Delaware Court Establishes "Taxonomy" For Controlling Stockholder Claims

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In a recent decision, the Delaware Court of Chancery (Parsons, V.C.) dismissed a shareholder class action complaint alleging that a target company’s board of directors and private equity firm controlling stockholder breached...more

Mintz

Director Liability for Cybersecurity Risks

Mintz on

If a corporation is the target of a cyberattack resulting in a data breach, its board may be the target of a shareholder derivative action claiming breach of fiduciary duty. A recent example is Palkon v. Holmes, No....more

Sheppard Mullin Richter & Hampton LLP

Delaware Court of Chancery Underscores Heightened Pleading Standard Necessary to Support a Claim for Breach of Fiduciary Duty In...

In Houseman v. Sagerman, C.A. No. 8898-VCG, 2014 WL 1478511 (Del. Ch. Apr. 16, 2014), the Delaware Court of Chancery (Glasscock, V.C.) granted, in part, a motion to dismiss filed by certain directors and the financial advisor...more

McDermott Will & Emery

Who’s in Charge – Is the Board Responsible to Monitor Its Financial Advisor or Vice Versa?

McDermott Will & Emery on

In the case of In re Rural Metro Corporation Stockholders Litigation, the Court of Chancery of the State of Delaware held that the primary financial advisor retained by Rural/Metro Corporation aided and abetted the board in...more

Sheppard Mullin Richter & Hampton LLP

Delaware Court of Chancery Grants Summary Judgment Dismissing Breach of Fiduciary Duty Claims In Absence of Evidence of Directors’...

In In re Answers Corp. Shareholders Litigation, C.A. No. 6170-VCN, 2014 WL 463163 (Del. Ch. Feb. 3, 2014), the Delaware Court of Chancery (Noble, V.C.) granted summary judgment in favor of defendants in a stockholder class...more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Finds Financial Advisor Liable for Aiding and Abetting Breaches of Fiduciary Duty

In a much-anticipated, 91-page post-trial opinion issued on March 7, 2014, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery held in In re Rural Metro Corporation Stockholders Litigation that the lead...more

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