On December 13, 2013, the U.S. Supreme Court granted certiorari in Dudenhoeffer v. Fifth Third Bancorp, et al., No. 12-751, to review a decision by the Sixth Circuit reversing dismissal of a complaint in an ERISA stock drop...more
Parties to pending securities fraud class actions may adjust litigation strategies, even before the Court revisits Basic’s presumption of investor reliance.
On Friday, November 15, 2013, the Supreme Court granted...more
The U.S. Supreme Court, in Knappe, is being asked to revisit its decision in a case where it stated the standard for what constitutes reasonable cause based upon reliance on advice of professionals. In Boyle the Court...more
Among the more hotly contested issues facing structured finance investors and insurers bringing fraud claims in New York is the requirement that plaintiffs establish that they reasonably relied upon the alleged fraudulent...more
On May 7, New York’s First Department appellate court reinstated CIFG Assurance North America, Inc.’s fraud claim against Goldman Sachs & Co. and M&T Bank. Last May, a New York trial court dismissed CIFG’s claim for...more
The California Fourth District Court of Appeal adopted the principle that it is inherently unreasonable for any person to rely on a prediction of future IRS enactment, enforcement, or non-enforcement of the law by someone...more
In Heritage Pacific Financial LLC v. Machuca, 2012 DJDAR 16803 (2012), the US Bankruptcy Appellate Panel for the Ninth Circuit decided an interesting attorney fee case arising in the commercial litigation context. The fee...more