News & Analysis as of

Misrepresentation

CFPB Files Complaint Against Ohio Debt Collection Law Firm Over Misrepresentations

by Goodwin on

?On April 17, 2017, the Consumer Financial Protection Bureau (CFPB) announced that it had filed a complaint in the U.S. District Court for the Northern District of Ohio against an Ohio-based debt collection law firm, alleging...more

Vast – Or at Least Half-Vast – Conspiracy Claim Dismissed

by Reed Smith on

Imagine a conspiracy so vast that it includes not only your usual plaintiff-side fantasy of the FDA conspiring with a drug company, but also high FDA officials, President Obama, Robert Mercer (noted Trump supporter and...more

Legal Lessons from “Maserati Rick” – The Man Who Falsely Claimed to be a Miami Dolphin for Over 3 Years

by Butler Snow LLP on

In 2014, Ricardo Agnant, a.k.a. “Maserati Rick,” snuck into an NFL Regional Combine at the Miami Dolphins’ training center. An NFL Regional Combine is a selective NFL-sanctioned event that provides aspiring NFL athletes a...more

Is There A "Secret Rule" In The NC Business Court Regarding Motions To Compel?

by Brooks Pierce on

Thinking of filing a Motion to Compel in the NC Business Court? You might want to file it before the close of the discovery period, even though there is no Business Court Rule establishing a deadline for doing so....more

Southern District Of Texas Dismisses Class Action Against Plains All American Pipeline, Dismissing Exchange And Securities Act...

by Shearman & Sterling LLP on

On March 29, 2017, Chief District Judge Lee Rosenthal of the United States District Court for the Southern District of Texas, Houston Division dismissed a putative class action against Plains All American Pipeline, a major...more

NetSpend Settles FTC Charges, Resolving Allegations that it Deceived Consumers over Access to Prepaid Funds

by Kelley Drye & Warren LLP on

Last week the FTC announced that it had reached a settlement with NetSpend over allegations that NetSpend deceived consumers by promising “immediate access” with “guaranteed approval” to money loaded on its general purpose...more

Legal Notebook for the Australia and New Zealand Property Journal

by DLA Piper on

The attached article appeared in the Australia and New Zealand Property Journal and addresses a recent decision of the Federal Court of Australia, Director of Consumer Affairs v Hocking Stuart Richmond Pty Ltd [2016] FCA...more

Financial Services Weekly News - March 2017 #5

by Goodwin on

Editor's Note - In This Issue. The Securities and Exchange Commission (SEC) was active this week, moving to shorten the settlement cycle for broker-dealer transactions from T+3 to T+2 and issuing updated guidance...more

Southern District Of Ohio Holds Defendants Cannot Challenge The Manner In Which Shares Were Purchased At The Class Certification...

by Shearman & Sterling LLP on

On March 17, 2017, Judge Michael Watson of the United States District Court for the Southern District of Ohio certified a securities class action brought against Big Lots, Inc. (“Big Lots”) and various current and former...more

Presentation Matters When Seeking to Compel Arbitration in Consumer Class Actions

by Polsinelli on

A pair of recent opinions proves that when it comes to compelling arbitration in a consumer class action, presentation of the arbitration clause may matter more than favorable Supreme Court precedent. First, in Norcia v....more

Disclaimers: Paper Shield or Your Best Protection?

by Reed Smith on

The UK Court of Appeal recently considered the liability of issuers to secondary market investors under the Misrepresentation Act 1967 (the “1967 Act”) in the case of Taberna Europe CDO II Plc v Selskabet (formerly Roskilde...more

“Singular” Cases on Nondischarge and Dischargeability

by Bryan Cave on

Two recent cases analyzed the misrepresentations of a debtor regarding a single asset and held a written misrepresented value of a single scheduled estate asset would result in nondischargeability under Section 727, and that...more

A Common Interest Agreement May Not Be Worth the Paper It’s Written On

by Wilson Elser on

It is a very common practice for counsel to co-defendants or co-plaintiffs to enter into agreements that shield their communications. The agreements are expressions of intent that the communications will be protected by the...more

FTC Issues Order Against Debt Relief Company for Alleged Misrepresentations

by Goodwin on

On February 27, 2017, the Federal Trade Commission (FTC) entered into a stipulated order for permanent injunction and monetary judgment with defendants United Debt Counselors, LLC, a debt relief company, and its principals,...more

"Key Takeaways: Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions"

On March 8, 2017, Skadden hosted a webinar titled “Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions.” The Skadden panelists were tax partners Nathaniel Carden and Armando Gomez, and litigation...more

A reminder to get replies to enquiries right

by Dentons on

The High Court decision in First Tower Trustees Limited v. CDS (Superstores International) Limited [2017] EWHC B6 (Ch) is a salutary reminder of some of the pitfalls to avoid when providing replies to pre-contract enquiries...more

Art Advisors and Duty of Loyalty in Focus Again Over Sale of Basquiat

by Sullivan & Worcester on

We reviewed in December an important decision that addressed the duties of loyalty that art advisors may, or may not, owe to their clients in dealing in the art market. That question—of to what extent advisors and...more

Sixth Circuit Upholds Dismissal of Fraud and Contract Claims Against Employer Sponsoring Green Card Application for Employee

by Butler Snow LLP on

In an interesting case situated at the intersection of immigration and contract law, the Sixth Circuit recently affirmed a district court’s dismissal of claims against Dow Corning Corporation stemming from its sponsoring an...more

Northern District Of California Dismisses Some, But Not All, Securities Fraud Claims Based On Accounting Disclosures

by Shearman & Sterling LLP on

On February 24, 2017, Judge Edward Chen of the United States District Court for the Northern District of California granted in part and denied in part a motion to dismiss a putative securities class action against Leapfrog...more

ITC Grants Oral Argument

by Jones Day on

As we have previously reported, the Commission recently heard its first Section 337 oral argument in nearly ten years. Hot on the heels of that proceeding, the ITC has again granted an oral argument in a Section 337...more

FTC Settles with Remaining Defendant in Alleged Mortgage Scam Case

by Goodwin on

On February 21, 2017, the United States District Court for the Central District of California issued a stipulated order as to the final defendant in an alleged mortgage-relief scam. The court had entered judgment against the...more

DC Circuit Enforces Escobar’s Materiality Requirement

This week, the D.C. Circuit added to the post-Escobar, materiality jurisprudence with its opinion in United States ex rel. McBride v. Halliburton Co., No. 15-7144 (Feb. 17, 2017). In its decision, the court affirmed the...more

SEC Prevails in Another Trial

by Dorsey & Whitney LLP on

The Commission prevailed in another trial last week with a jury finding in its favor and against the defendant. This action centered on misrepresentations made by a borrower to a broker in connection with margin loans. SEC v....more

FTC Settles Deception Charges Relating to Privacy Program Claims

by WilmerHale on

On February 22, 2017, the FTC settled charges with three companies that, according to the FTC, deceptively claimed that they participated in the Asia-Pacific Economic Cooperation Cross-Border Privacy Rules (APEC CBPR). The...more

"Inside the Courts: An Update from Skadden Securities Litigators - February 2017 / Volume 9 / Issue 1"

We are pleased to present Inside the Courts (Volume 9, Issue 1), Skadden’s securities litigation newsletter. This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between...more

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