Negligent Misrepresentation

Eastern District Concludes That ERISA Preempts Negligent Misrepresentation Claim

by Hema Chatlani, Maayan Deker, Allison Ianni, Aaron Warshaw | Ogletree, Deakins, Nash, Smoak & Stewart,... on 3/1/2013

Korman v. Consolidated Edison Co., No. 12-CV-1561 (JFB-ARL) (E.D.N.Y. Jan 16, 2013): The plaintiff brought the Employee Retirement Income Security Act (ERISA) and common law claims against his benefits provider,...more

California Supreme Court Eases Admissibility of Oral Statements in Contract Fraud Disputes

by Melissa Lor | Schnader Harrison Segal & Lewis LLP on 2/22/2013

California, like most jurisdictions, prohibits parties to integrated contracts from introducing “parol evidence” — this is, evidence of prior written or verbal agreements made by a party to a contract — if those alleged...more

Promises to Keep—Lender Beware: California Supreme Court Expands Parol Evidence Fraud Exception

by Craig A. Barbarosh, Jennifer Brooks, Karen B. Dine | Katten Muchin Rosenman LLP on 2/21/2013

In 1935, the California Supreme Court in Bank of America National Trust and Savings Ass’n v. Pendergrass prohibited a borrower from introducing external or parol evidence to demonstrate fraud in connection with an agreement...more

IP/Entertainment Law Weekly Case Update for Motion Picture Studios and Television Networks -- February 14, 2013

by Jonathan Zavin | Loeb & Loeb LLP on 2/15/2013

In This Issue: - Morawski v. Lightstorm Entertainment, USDC C.D. California, January 31, 2013 (unpublished opinion): District Court grants defendants’ motion for summary judgment on plaintiff’s claims of...more

Israeli Bank Sues UBS and Goldman Sachs Seeking a Combined $220 Million

by Orrick - Structured Finance Group on 2/5/2013

On January 29, Bank Hapoalim B.M., Israel’s largest bank, filed summonses with notice against UBS AG, Goldman Sachs & Co., and their affiliates, in the Supreme Court for the State of New York....more

Impac Settles RMBS Suit Brought by Citigroup for $3.1 Million

by Orrick - Structured Finance Group on 2/5/2013

On January 24, Impac Funding Corp. settled a lawsuit brought by Citigroup Global Markets Inc. alleging violations of Sections 18 and 20 of the Securities Exchange Act and negligent misrepresentation based on alleged...more

The Expansive Breadth and Scope of Arizona’s New Revised Uniform Arbitration Act

by Richard Herold, Benjamin Reeves | Snell & Wilmer L.L.P. on 1/18/2013

Recently, the Arizona Court of Appeals determined that under the 2010 Arizona Revised Uniform Arbitration Act, A.R.S. §12-3001, et seq. (the AZ-RUAA), a contractual agreement to arbitrate extends to: (i) arbitration of claims...more

Southern District of New York Dismisses Investors’ Claims Against Deutsche Bank

by Orrick - Structured Finance Group on 1/15/2013

On January 4, Judge Jed S. Rakoff of the Southern District of New York issued a memorandum order explaining the bases for his February 6, 2012 decision that RMBS claims brought by several investor plaintiffs against several...more

North Carolina Court of Appeals Allows Borrower to Take Breach of Fiduciary Duty Claims Against Lender to a Jury

by David Dreifus | Poyner Spruill LLP on 12/19/2012

In what may be a first for a North Carolina appellate court, the North Carolina Court of Appeals has reversed the entry of summary judgment for a lender on a borrower’s breach of fiduciary claim. In Dallaire v. Bank of...more

Court Dismisses In Part RMBS Suit Against Countrywide, Dismissed In Entirety Against Bank of America

by Orrick - Structured Finance Group on 12/18/2012

On December 6, Judge Mariana Pfaelzer of the United States District Court for the Central District of California dismissed in part claims brought by several insurance companies, including Minnesota Life Insurance Company, in...more

Sixth Circuit Affirms Dismissal of Claims Against Credit Rating Agencies

by Orrick - Structured Finance Group on 12/11/2012

On December 3, the United States Court of Appeals for the Sixth Circuit affirmed a decision by Judge James K. Graham of the Southern District of Ohio dismissing, with prejudice, claims against three credit-rating agencies –...more

Minnesota Supreme Court Rejects Negligent Misrepresentation Claim Against University of Minnesota and Coach Tubby Smith

by Ashlee M. Bekish | Ogletree, Deakins, Nash, Smoak & Stewart,... on 8/23/2012

After five years of litigation, the shot clock has expired in a long-standing legal dispute between the University of Minnesota, its men’s basketball coach Tubby Smith, and Jimmy Williams. On August 8, 2012, the Minnesota...more

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