4 Key Takeaways | Trade Secret Update 2024 Legal Developments and Trends
The US Court of Appeals for the First Circuit largely affirmed a multimillion-dollar award against a temp agency for misappropriation of trade secrets and unjust enrichment due to its employee’s act of obtaining proprietary...more
The U.S. Supreme Court recently denied a trade secret owner's petition for certiorari in Trizetto Group, Inc. v. Syntel Sterling Best Shores Mauritius Limited. This leaves unresolved a question of when a wrongdoer's avoided...more
On Friday, September 29, 2023, the Securities and Exchange Commission’s Division of Enforcement (“SEC”) filed a civil complaint in U.S. district court (S.D. Fla., Case No. 1:23-cv- 23723) against two audit firms, Prager Metis...more
The British Columbia decision Equustek Solutions Inc. v Jack highlights the difficult, time consuming, and expensive exercise that organizations may find themselves in when an employee misuses confidential information. In...more
On Jan. 1, 2021, the U.S. Congress passed amendments to the Securities Exchange Act of 1934 (Exchange Act) that significantly expand the U.S. Securities and Exchange Commission’s (SEC) authority to recover disgorgement of any...more
SEC’s Disgorgement Authority Expanded Under National Defense Authorization Act for Fiscal Year 2021; Delaware Court of Chancery Rejects Derivative Claim Based On Deficient Anti-Money Laundering Compliance Efforts: “Bad...more
On December 8, 2020, the U.S. House of Representatives approved final passage of a $740.5 billion annual defense policy bill, the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (“National...more
Consider this: What if plaintiffs could assert a cause of action for negligence without proving, or even pleading, any actual damages? And what if the remedy for this damage-free tort claim were disgorgement of profits...more
Seyfarth Synopsis: In the first ruling in response to the slew of room and board refund class actions filed in the wake of COVID-19, on July 29, 2020, in Rosenkrantz v. Arizona Board of Regents, No. 2:20-CV-01203 (D. Ariz.),...more
In Klinek v. Luxeyard, Inc., a company sued its majority shareholder in a suit for breach of fiduciary duty arising from a pump-and-dump scheme and later settled that claim. No. 14-17-00899-C, 2019 Tex. App. LEXIS 9421 (Tex....more
On Aug. 1, the Securities and Exchange Commission (the SEC) charged Commonwealth Equity Services LLC, dba Commonwealth Financial Network (Commonwealth), a registered independent investment adviser to private clients (but not...more
An often sought remedy in trade secret cases is unjust enrichment, which DTSA and several uniform state trade secret acts permit plaintiffs to seek for the unlawful benefit received by defendants "that is not addressed in...more
The Federal Circuit recently issued an opinion, Texas Advanced Optoelectronic Solutions, Inc. v. Renesas Electronics America, Inc., that addressed several interesting issues impacting the calculation of damages in trade...more
On July 5, 2016, investors filed a federal class action in the Southern District of New York alleging defendant banks had manipulated the Singapore Interbank Offered Rate (SIBOR) “and/or” Singapore Swap Offer Rate (SOR)...more
The flurry of food mislabeling class actions filed in California federal courts has recently come to a halt under the U.S. Supreme Court’s holding in Comcast v. Beherend. Comcast requires that putative class action plaintiffs...more
Just over a year ago, a panel decision by the Sixth Circuit Court of Appeals in Rochow v. Life Insurance Company of North America, 737 F.3d 415 made big news when the court upheld the district court’s award of $3.8 million in...more
The Sixth Circuit Court of Appeals voted to rehear an ERISA action that awarded an unprecedented remedy for the alleged denial of long term disability benefits. The order, granting en banc rehearing, vacates a controversial...more
After an investigation of actions in the western electricity markets by Barclays Bank PLC (“Barclays”), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (collectively, the “Traders” and together with Barclays,...more
The Sixth Circuit recently concluded that a disability plan participant was entitled to relief consisting of benefits under the plan and disgorgement of defendant’s profits for delaying payment. In so ruling, the Court found...more
On October 18, 2013, the Federal Energy Regulatory Commission (“Commission”) approved a Stipulation and Consent Agreement between the Office of Enforcement (“Enforcement”) and Exelon Corporation (“Exelon”) to resolve an...more
Two recent Federal Energy Regulatory Commission ("FERC") orders will result in the imposition of civil penalties totaling nearly three quarters of a billion dollars on Barclays Bank PLC ("Barclays") and JP Morgan Ventures...more