Misrepresentation

News & Analysis as of

CFPB takes action on misleading advertisements

Late last week, on February 12, the CFPB announced actions against three mortgage companies for alleged violations of Regulation N, the Mortgage Acts and Practices Advertising Rule. Among other restrictions, Regulation N bars...more

Louisiana Lessee Could be Liable for Withholding Information

A Quiz - You are in Louisiana and are described as having a “lesion beyond moiety”. What do you do? A. Contact your primary care physician for an appointment...more

Florida’s Second District Reverses Summary Judgment for Insurer Based on Material Misrepresentation on Homeowner’s Application

In Mora v. Tower Hill Prime Ins. Co., 2015 Fla. App. LEXIS 812 (Fla. Dist. Ct. App. 2d Dist. Jan. 23, 2015), the Second District reversed a Hillsborough County trial court’s grant of summary judgment in favor of the insurer....more

Property Insurance Law: 2014 Year in Review

Hurricane Sandy continued to generate a significant amount of litigation during 2014 which resulted in several important property insurance decisions. Most notably, as a result of Sandy and other events, the courts...more

SEC Files Prime Bank Fraud and Offering Fraud Actions as Administrative Proceedings

The trend of selecting administrative proceedings rather than Federal court by the SEC appears to be continuing. Since last September, for example, the SEC has filed at least seven insider trading cases as administrative...more

Advertising Law - January 2015 #2

Safeway Must Pay Customers for Higher Online Prices - A California federal court judge has ruled in a breach of contract suit that Safeway is liable to customers who paid more for items online than in the store. ...more

Court of Federal Claims Determines That Government Contractor May Recover for Losses Attributable to Omissions and Inaccuracies in...

Philadelphia Auth. for Indus. Dev. v. United States, 114 Fed. Cl. 519 (2014) - In this action, the United States Court of Federal Claims denied the Government’s motions to dismiss and for summary judgment, holding that...more

Bayens v Kinross Gold Corporation – Misrepresentation Claims in Securities Class Actions

Ontario's statutory regime for secondary market liability came into effect in 2006 as a result of amendments to the Securities Act (Ontario) (the OSA), creating a statutory cause of action for deficient market disclosure....more

Don’t Tell the Government “It Wasn’t Me”: ASBCA Holds Contract Void Ab Initio for Fraud

In the Appeal of Vertex Construction & Engineering, ASBCA No. 58988, decided last month, the Armed Services Board of Contract Appeals (“ASBCA”) exercised a “harsh” remedy in declaring Appellant’s contract void ab initio...more

So You Think You Have a Contract? Website Terms and Unconscionability

We have written previously regarding the pitfalls of online contract formation, including where website operators fail to implement website terms in a manner that requires users to expressly accept such terms. A recent...more

How to Assert the Misrepresentation Defense to NC Workers’ Compensation Claims

The North Carolina Workers’ Compensation Act now allows an employer to plead an affirmative “Misrepresentation Defense” when an employee intentionally misrepresents his/her physical condition when entering into the employment...more

4th Circuit Offers Defendants Seeking Federal Jurisdiction Relief Denied by Other Circuit Courts: Remands to State Court Obtained...

Last week, the Fourth Circuit Court of Appeals kicked off the holiday by giving thanks for the power to prevent parties from reaping the benefits of fraud perpetrated against the federal courts. The Fourth Circuit decided in...more

HAMP and Section 75-1.1, Part 2

In yesterday’s post, we discussed when a lender’s failure to comply with guidelines under the federal Home Affordable Mortgage Program (HAMP) might violate N.C. Gen. Stat. § 75-1.1 as well. We analyzed a very recent federal...more

Documents Speak Louder Than Words in Securities Fraud Suit

The Eastern District of North Carolina recently granted summary judgment for the defendant in a securities fraud action, holding that the plaintiff had failed to prove either scienter or reliance where alleged verbal...more

Consumer Products Companies Should Take Care to Comply with California “Made in USA” Labeling Law

New cases are being brought by plaintiff attorneys under the California “Made in USA” labeling law, which prohibits use of that claim or similar language if the "merchandise or any article, unit, or part thereof" was made...more

Privacy Monday (on Tuesday….) November 2014

Sometimes the day just gets away from you ….. Here are three privacy & security things you should know for your week: 1. FTC Cites TRUSTe With Misrepresenting Practices – Fines $200,000 Apparently TRUSTe...more

Fraud Claim Against Lender Dismissed

"Courts have held that there is no duty on a lender to ensure that a loan is suitable for a borrower," wrote Judge Jones in a recent case dismissing a fraud and misrepresentation claim brought by a home owner against the...more

Greenpoint’s Motion to Dismiss Loan Misrepresentation Suit Granted in Part

On October 15, Judge Donovan Frank of the U.S. District Court for the District of Minnesota, granted in part and denied in part Greenpoint Mortgage Funding’s motion to dismiss a lawsuit filed by Residential Funding Co., an...more

Certifications Under the Trade Agreements Act: 10 Tips to Avoid TAA Traps for the Unwary

On September 3, 2014, U.K.-based medical device maker Smith & Nephew (the ‘‘Company’’) agreed to pay $8.3 million (plus an additional $3 million in attorney’s fees) to resolve a lawsuit filed under the federal civil False...more

Mortgage-Backed Securities: “It Is The Rare Ordinary Human Being Who Understands Them”

In re Lehman Bros. Holdings Inc., 513 B.R. 624 (Bankr. S.D.N.Y. 2014) – A purchaser of residential mortgage-backed securities filed proofs of claim based on alleged misrepresentations by the debtors in offering...more

Will your errors and omissions policy pay your defense costs?

The hypothetical - HealthPayPlus (HPP) designs custom record management systems for large hospital systems. HPP developed a system for Research Hospitals of America (RHA) that HPP promised would revolutionize RHA’s...more

Post-Therasense IC Alive and Kicking at the Federal Circuit

Apotex Inc. v. UCB, Inc. - After finding that a patent owner had made several misrepresentations to the Patent and Trademark Office (PTO) during prosecution, the U.S. Court of Appeals for the Federal Circuit concluded...more

Federal Circuit Review - September 2014

Misrepresentation Regarding Prior Art Lead to Inequitable Conduct - In APOTEX INC. v. UCB, INC., Appeal No. 2013-1674, the Federal Circuit affirmed a judgment of inequitable conduct. Apotex sued UCB for patent...more

Understanding SBA s Affiliation Rules

In this presentation: - Why size matters - How affiliation impacts small business status - Overview of SBA’s affiliation rules and exclusions from affiliation - Tips to avoid/mitigate common...more

Texas District Court Denies Class Certification for Hedge Fund Investors on Numerosity and Predominance Grounds

In 2008, investors in the Parkcentral hedge fund lost as much as $3 billion dollars when Parkcentral’s investment in commercial mortgage-backed securities (“CMBS”) was devalued. The investors, limited partners of Parkcentral,...more

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