News & Analysis as of

Motion to Dismiss Financial Markets

Proskauer - The Capital Commitment

California District Court Upholds SEC’s Novel “Shadow Trading” Theory

The SEC prevailed on a motion to dismiss a closely watched lawsuit alleging that a company employee had engaged in insider trading based on news about a not-yet-public corporate acquisition when he purchased securities of a...more

Robins Kaplan LLP

Financial Daily Dose 8.29.2019 | Top Story: South Korea High Court Could Send Samsung Heir Back to Jail

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A ruling this morning from South Korea’s top court means that Samsung’s de facto leader, its vice chair and chaebol heir Lee Jae-yong, could be heading back behind bars. The high court found that a lower appeals court “had...more

Jones Day

Second Circuit Concludes Commodity Exchange Act Claims Accrue When Plaintiffs Learn Of Their Injuries

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Under the "discovery accrual rule" discovery of the injury starts the clock for statute of limitations purposes. On February 28, 2019, the Second Circuit issued an important decision regarding the statute of limitations...more

Patterson Belknap Webb & Tyler LLP

Federal Agent’s Misrepresentation in LG Search Warrant Affidavit Insufficient to Clear Qualified Immunity Hurdle

In Ganek v. Leibowitz, No. 16-1463 (2d Cir. Oct. 17, 2017) (Raggi, Chin, Carney), the Second Circuit reversed and remanded a district court’s determination that federal law enforcement authorities were not entitled to...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Dismisses Claim Against Major Chinese Securities Firm Due to Lack of Personal Jurisdiction

In Lantau Holdings, Ltd. v. Orient Equal International Grp., No. 653920/2016, 2017 BL 77469 (Sup. Ct. Mar. 6, 2017), Judge Anil C. Singh of the New York County Commercial Division dismissed several claims by the plaintiff,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Japan’s SoftBank hasn’t been shy about bold moves, but its most recent one—the decision to buy American PE giant Fortress Investment Group—is an especially big one. The deal is seen as bolstering SoftBank’s recently announced...more

Burr & Forman

6th Circuit Orders Pay-to-Play Challenge to Merits Panel

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The Sixth Circuit this week declined the SEC’s request to dismiss a Constitutional challenge to the new MSRB pay-to-play rules.  Instead, the Court ordered the case to a merits panel for consideration.  The Republican parties...more

Carlton Fields

Third Circuit Affirms Dismissal Of Suit To Vacate FINRA Arbitration Award

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This case involved an underlying arbitration before an arbitration panel operating under the Financial Industry Regulatory Authority (“FINRA”) rules, which was brought by Judith and Kenneth Goldman against their financial...more

Orrick - Finance 20/20

Bank of New York Mellon’s Motion to Dismiss Denied in Part in Trustee RMBS Suit by Royal Park Investments

On March 2, Judge Gregory H. Woods of the United States District Court for the Southern District of New York issued an Opinion and Order denying in part and granting in part the Bank of New York Mellon’s (“BNYM”) motion to...more

Orrick - Finance 20/20

New York Appellate Court Upholds ACA’s Fraud Suit Against Goldman Sachs

Orrick - Finance 20/20 on

On August 18, 2015, the New York Appellate Division’s First Department held that ACA Financial Guaranty Corp. adequately pled its fraud suit against Goldman Sachs Group Inc. A four-judge panel held that ACA sufficiently...more

Littler

SEC Continues its Efforts to Make Dodd-Frank Whistleblowing Easier

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The Securities and Exchange Commission (SEC) recently issued interpretative guidance intended to advance the agency's position that a whistleblower is entitled to the anti-retaliation protections of the Dodd-Frank Wall Street...more

Orrick - Finance 20/20

Morgan Stanley and Natixis Win Dismissal of RMBS Claims

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On July 14, 2015, Justice Friedman of the New York State Supreme Court for the County of New York granted in part Morgan Stanley & Co.’s motion to dismiss fraud claims brought by HSH Nordbank AG (“HSH”) and Carrera Capital...more

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