News & Analysis as of

Misrepresentation

Clear Notice of Alteration of the Attorney-Client Relationship

by Wilson Elser on

In Thomas Cesso v. Gary Owen Todd, Massachusetts Appeals Court 16-9-76 (August 28, 2017), the Massachusetts Appeals Court held that filing a notice of withdrawal does not necessarily terminate the attorney-client...more

SEC Brings First Enforcement Action Related to Initial Coin Offerings

by Jones Day on

The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

Southern District Of New York Dismisses Securities Fraud Class Action With Prejudice, Finding Plaintiffs Failed To Plead That...

by Shearman & Sterling LLP on

On September 22, 2017, United States District Judge Alison J. Nathan of the United States District Court for the Southern District of New York dismissed with prejudice an amended consolidated putative class action complaint...more

California District Court Dismisses Securities Fraud Class Action, Finding Technology Company's Statements of Growth Were Not...

by Shearman & Sterling LLP on

On October 2, 2017, Judge Yvonne Gonzalez Rogers of the United States District Court for the Northern District of California dismissed with prejudice a putative securities fraud class action against Nimble Storage, Inc....more

Section 75-1.1 And Trial Evidence

by Ellis & Winters LLP on

When a claim for violation of N.C. Gen. Stat. § 75-1.1 goes to trial, what analytical framework governs the admissibility of evidence related to that claim? Today’s post studies a recent decision by Judge Louis A. Bledsoe,...more

Vineyard buyer's fraud claim dying on the vine

by Thompson Coburn LLP on

Sellers of a vineyard were exonerated of a claim for fraud because they “could not be held liable for nondisclosure in the absence of evidence they had actual knowledge of the facts to be disclosed.” In Opinion - RSB...more

FTC Provides Guidance to Social Media Influencers in Live Twitter Chat

by Ballard Spahr LLP on

Influencer marketing is the popular practice of using individuals with large social media audiences—known as "influencers"—to advertise products and services through their social media accounts....more

Paid to Post? #FTCAdvice for Influencers

In our previous blog post, “#CAUTION: FTC Ramps Up Enforcement of and Education on Social Media Influencer Disclosure Requirements,” we discussed a recent Federal Trade Commission (the “FTC”) settlement and the FTC’s...more

FTC Goes After Misleading “Organic” Product Claims

by Fox Rothschild LLP on

Moonlight Slumber, LLC, an Illinois company that advertised its baby mattresses as “organic,” has agreed to settle FTC charges that it misrepresented or could not support these and other claims to consumers. The FTC’s...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Cybersecurity was front and center this week, with SEC Chairman Jay Clayton being grilled by a Senate Committee about the breach at the agency. The Chairman testified that the breach occurred last year and that investigations...more

Loan Brokerage Firm Agrees to $70,000 Settlement with CFPB Over Personal Loans Made to Recipients of Victim Compensation Funds

by Goodwin on

On September 19, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced a simultaneous complaint and proposed consent order with a loan brokerage company and two associated individuals (the “Defendants”). The...more

New Guidance Imposes Finding of Misrepresentation for Conduct Inconsistent With Visa Within 90 Days of Entry

The U.S. Department of State (DOS) has issued new guidance establishing a presumption of willful misrepresentation when a foreign national, within 90 days of entry into the United States, engages in conduct that violates the...more

Deceptive Business Practices & The FTC Act

by Revision Legal on

Businesses that engage in deceptive and unfair internet practices are subject to injunctions and large monetary damage awards under the Federal Trade Commission Act (“FTC Act”). Just as importantly, the owners and principals...more

Northern District Of California Dismisses Securities Fraud Suit Against Dynavax, Finding That Allegations Regarding Disclosure...

by Shearman & Sterling LLP on

On September 12, 2017, United States District Judge Yvonne Gonzalez Rogers of the United States District Court for the Northern District of California dismissed without prejudice a consolidated putative class action against...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The ‘book is backing off of a 2016-proposed stock reclassification that “would have solidified Mark Zuckerberg’s control over the social network” after a shareholder suit that would have seen Zuck on the stand in a Delaware...more

Court denies restitution sought by CFPB in lawsuit against biweekly mortgage payment companies

by Ballard Spahr LLP on

In another recent defeat for the CFPB, a California federal district court refused to award restitution sought by the CFPB in its lawsuit filed in May 2015 against two related companies offering a biweekly mortgage payment...more

Say Goodbye to the 30/60 Day Rule

by Baker Donelson on

When applying for a nonimmigrant or temporary U.S. visa and when actually seeking to enter the U.S., most applicants – including those for B visitor, F student and J exchange visitor – are required to convince the consular or...more

Fraudulent “Social Security Maximization” Scheme Ends With Guilty Plea

by Dorsey & Whitney LLP on

P.T. Barnum should have said “there is a new scheme born every minute.” Yesterday a Wall Street office and Sinatra songs were used to lure would-be investors to a commodity fraudster who took investor funds for his own and...more

Latest Decision in Kona Beer Branding False Advertising Case

by McDermott Will & Emery on

The US District Court for the Northern District of California’s recent opinion in Broomfield v. Craft Brew Alliance, Inc., No. 17-cv-01027-BLF (Sept. 1, 2017) represents the latest decision in the now long-line of false...more

Delaware Law Updates – Anti-Reliance Provision In Merger Agreement Justifies Non-Payment Of Working Capital Deficiency

by McCarter & English, LLP on

Sparton Corp. v. O’Neil, et al., C.A. No. 12403-VCR (Del. Ch. Aug. 9, 2017) – In this opinion, the Delaware Court of Chancery addressed a situation in which a purchaser of a company discovered that the actual amount of...more

Federal Trade Commission Reaffirms Commitment to Enforce EU-US Privacy Shield

by Dechert LLP on

The U.S. Federal Trade Commission (FTC) recently settled enforcement actions against three companies accused of misleading consumers about their participation in the European Union-United States Privacy Shield framework,...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

In the period beginning the week before the Labor Day holiday and the week following it, the Commission brought a series of actions which included three insider trading actions. One involved an attorney who used information...more

Petratos v. Genentech: Escobar’s “Heightened Materiality Requirement” Is Significant Pleading Hurdle in False Claims Act Suits

In a recent False Act Claims (FCA) suit involving the blockbuster cancer drug Avastin, the Third Circuit barred a relator’s qui tam suit because his Complaint lacked sufficient factual allegations that, if true, would...more

Healthcare Law Update: September 2017

by Holland & Knight LLP on

OIG Advisory Opinions - Manufacturer's Free Replacement of Spoiled Pharmaceutical Products Authorized - On Aug. 25, 2017, the U.S. Department of Health and Human Services' (HHS) Office of Inspector General (OIG)...more

Western District Of Texas Dismisses Securities Fraud Suit Against Whole Foods, Finding Alleged Knowledge Of In-House Counsel Could...

by Shearman & Sterling LLP on

On August 25, 2017, Judge Lee Yeakel of the United States District Court for the Western District of Texas dismissed with prejudice a putative securities class action against Whole Foods Market, Inc. and certain of its...more

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Cybersecurity

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