Misleading Statements

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Upper Tribunal Finds That Individual Lacked Integrity Due To Recklessness

In this case report, we consider the decision of the Upper Tribunal (Tax and Chancery Chamber) in Ghanshyam Batra v Financial Conduct Authority [2014] UKUT 214 (TCC), in which the Upper Tribunal upheld the FCA's decision to...more

Ninth Circuit Addresses Preemption in Recent Labeling Cases

The Ninth Circuit Court of Appeals recently addressed preemption in the context of food and cosmetic labeling. Food Manufacturers Can Label Honey as “Honey” - In June, the Ninth Circuit issued an opinion in Brod v....more

FTC Resolves Case Against “Melanoma Detective” App Marketer

The FTC announced late last week that it resolved its case against the final defendant, Avrom Lasarow, in the “Melanoma Detective” app matters. The FTC alleged that claims that the apps could detect and diagnose melanoma in...more

5th Circuit Revives FDIC’s Suit Against Goldman, Deutsche Bank, and Royal Bank of Scotland

On August 10, 2015, the Fifth Circuit revived a securities fraud suit brought by the Federal Deposit Insurance Corporation (“FDIC”) as receiver for Guaranty Bank against Goldman Sachs & Co., Deutsche Bank AG, and the Royal...more

What Comes Next In Amarin Pharm v. FDA?

The Southern District of New York’s preliminary injunction in Amarin Pharm, Inc. v. FDA—prohibiting the FDA from taking action against Amarin over truthful, non-misleading “off-label” statements about its prescription drug...more

A Couple of Law Review Articles We Actually Like

The last couple of times we’ve commented on new law review articles, we haven’t liked what we’ve seen very much. We’re gluttons for punishment, however, and this time we were rewarded. We found a couple of recent law review...more

Software Comparison Site Feels the Crunch of the UK Regulator

A UK website offering reviews of accounting software that was operated by TheAccountancyPartnership.com Ltd t/a Pandle (“Pandle”) was recently challenged by Crunch Accounting Ltd (“Crunch”) on purported misleading advertising...more

Feel The Burn: Court of Appeal Strikes Down State Law Claims Regarding Mislabeled Sunscreen Products Under Finding of Federal...

In Eckler v. Neutrogena (certified for publication 7/1/15, Case No. B2536910), the California Court of Appeal, Second Appellate District, upheld the trial court’s determination that plaintiffs’ claims of mislabeling sunscreen...more

FTC Resolves Claims Against Auto Dealers Based on Alleged Deceptive Advertising

On June 29, the FTC filed two administrative complaints and issued proposed orders against two Las Vegas auto dealers to resolve allegations that they engaged in misleading advertising practices that misrepresented the...more

Truth in Advertising - An Overview of Recent Contraventions of the Misleading and Deceptive Conduct Provisions of the Australian...

The Australian Competition and Consumer Commission (ACCC) continues to focus on misleading and deceptive advertising and communication strategies adopted by businesses selling products and services as an enforcement priority....more

SEC Announces First Charges Against Underwriters under MCDC Initiative

On June 18, the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against 36 municipal bond underwriters, the first enforcement actions against underwriters brought by the SEC under the...more

FCC Proposes Unprecedented Fine of $100 Million for Alleged Violations of Open Internet Transparency Rule

The FCC issued a Notice of Apparent Liability (“NAL”) to AT&T for alleged violations of the 2010 Open Internet “transparency rule.” The FCC contends that AT&T “willfully and repeatedly” violated the rule by: (1) using the...more

Public Statements Made by Pharmaceutical and Biotech Company Executives May Raise FDA’s Hackles if They Do Not Meet Basic...

For players in the highly regulated pharmaceutical and health care industries, it is common knowledge that manufacturers and distributors of FDA-regulated products are required to promote their products in compliance with the...more

SEC Sues For-profit College Over Alleged Loan Fraud

A major for-profit education corporation is facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) because of allegedly fraudulent activity by the company’s chief executive officer and chief financial...more

FTC Answers New Questions About Endorsements and Disclosures

In light of the continued expansion of digital and social media, the FTC has released updated guidance on disclosing endorser relationships. In addition to reiterating its general guidance on when and how disclosures need to...more

“Age Defying” Make-up Case Only Partially Defies Preemption

Coco Chanel said that nature gives you your face at 20, but you earn your face at 50. Perhaps that is not so different from Mark Twain’s theory that one’s wrinkles should merely be monuments to smiles. Those platitudes do...more

Product Liability Update - April 2015

In This Issue: - First Circuit Holds State Law Claims Against Drug Manufacturer for Allegedly Misleading Efficacy Representations in FDA-Approved Label Preempted by Food, Drug & Cosmetic Act Because Plaintiffs’...more

The US Supreme Court Clarifies When Issuers May Be Liable for Opinions Under the Securities Act: Omnicare, Inc. v. Laborers Dist....

The US Supreme Court’s decision in Omnicare, Inc. v. Laborers Dist. Council Constr. Indus. Pension Fund, Slip op., No. 13-435 (Mar. 24, 2015), held that issuers may sometimes be liable under Section 11 of the Securities Act...more

U.S. Supreme Court’s Omnicare Decision Examines Liability in Statements of Opinion

The United States Supreme Court in Omnicare, Inc., et al. v. Laborers District Council Construction Industry Pension Fund, et al., clarified standards for liability that a company issuing securities may face through...more

The ACCC's hunt for franchisors starts with AU$500,000 penalty

In a wakeup call for franchisors, the Federal Court earlier this week imposed an AU$500,000 penalty on South East Melbourne Cleaning Pty Ltd (formerly Coverall Cleaning Concepts South Easy Melbourne Pty Ltd) (Coverall) for...more

Supreme Court’s Omnicare Decision Follows Middle Path Advocated by Lane Powell and WLF

In the opinion issued yesterday in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund (“Omnicare”), the Supreme Court rejected the two extremes advocated by the parties regarding how the truth or...more

"Omnicare Decision Clarifies Pleading Standard for Section 11 Claims Based on Statements of Opinion in Registration Statements"

In an opinion issued yesterday, the U.S. Supreme Court held in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund that an issuer may be held liable under Section 11 of the Securities Act of 1933...more

Ontario Securities Commission Wins an Insider Trading Case

In a just-released decision, the Ontario Securities Commission found that a number of individuals engaged in insider trading, acted contrary to the public interest, and misled the Commission during the course of an...more

Court Takes Cue from Comcast v. Behrend, Certifies Class as to Liability but not Damages

In what appears to be an increasingly common practice since the Supreme Court decided Comcast Corp. v. Behrend, 133 S.Ct. 1426 (2013), the Southern District of New York recently certified a class as to liability, but rejected...more

Misleading and aggressive commercial practices: new rights of consumer redress

Executive summary: ..From 1 October 2014, consumers will have a new right of direct action against traders who engage in misleading or aggressive commercial practices...more

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