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Burden of Proof Material Misrepresentation

Patterson Belknap Webb & Tyler LLP

The U.S. Supreme Court Clarifies the Standards and Proof Required to Meet the Reliance Element of a Securities Fraud Claim

On June 21, 2021, the Supreme Court issued an opinion by Justice Barrett on the reliance element of a securities fraud claim. In a unanimous portion of her opinion (the “Decision”), Justice Barrett held that courts may...more

Morrison & Foerster LLP

Courts Are Taking Materiality Seriously Post-Escobar

In the three months since the U.S. Supreme Court issued its decision in Universal Health Services v. United States ex rel. Escobar, lower court decisions suggest a trend of strict interpretation of the high court’s...more

Manatt, Phelps & Phillips, LLP

Bank of America Wins Reversal of FIRREA $1.27B Penalty

A breach of contract is insufficient to also support a claim for fraud, the Second Circuit Court of Appeals has ruled, reversing a $1.2 billion verdict against Countrywide Home Loans in the process. What happened - ...more

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