News & Analysis as of

Class Action Underwriting

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Eversheds Sutherland (US) LLP

Illinois plaintiffs’ attorneys find new tool in old genetic privacy law

Although the Illinois Genetic Information Privacy Act (GIPA), 410 ILCS 513/1, et seq. was largely ignored by plaintiffs’ attorneys until this year, its substantial statutory penalties and recent case law make it an enticing...more

Rivkin Radler LLP

New York Insurance Coverage Law Update - October 2023

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The insured, a jewelry business, filed a coverage action against Certain Underwriters at Lloyd’s of London, which denied coverage to the insured under a policy purchased for the insured’s jewelry. The insured’s complaint...more

Carlton Fields

COVID-19 Class Actions Update

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In the early days of the COVID-19 pandemic, dozens of class action lawsuits were filed across a variety of industries in the United States – with theories of liability ranging from hand sanitizer false-labeling allegations,...more

Shook, Hardy & Bacon L.L.P.

Privacy and Data Security Alert l March 2020

Shook Weighs in on Updated CCPA Regulations - In response to extensive public comment, the California Attorney General’s office released modified draft regulations under the CCPA on February 7. Shook has provided initial...more

BCLP

2019 Year in Review for Financial Services Class Actions

BCLP on

Focus areas included FCRA, Fair Lending, ancillary fees and services (such as lender placed flood insurance), TCPA, privacy and data security and other topics. Consumer Financial Protection Bureau’s Director Kathleen...more

White and Williams LLP

Securities Class Action Filings Continue at Record Levels: How Should D&O Insurers Respond?

White and Williams LLP on

On January 29, 2020, Cornerstone Research released its annual report on securities class action filings. As expected, the report demonstrates that securities class actions in both federal and state courts continue to be filed...more

A&O Shearman

Court of Appeals Of Texas Affirms Dismissal Of Nonresident Issuer, Individual Defendants And Underwriters For Lack Of Personal...

A&O Shearman on

On January 21, 2020, the Court of Appeals of Texas dismissed for lack of personal jurisdiction a putative class action against a chemical products manufacturer (the “Company”), certain of its officers and directors, and...more

A&O Shearman

Southern District Of New York Dismisses Claim That Underwriter Of Regulation A+ Offering Was A Seller Of Unregistered Securities,...

A&O Shearman on

On April 11, 2019, Judge Denise Cote of the United States District Court for the Southern District of New York granted in part and denied in part an underwriter’s motion to dismiss a putative class action lawsuit filed...more

Skadden, Arps, Slate, Meagher & Flom LLP

District Court Applies Lorenzo in Securities Class Action Alleging Fraudulent Scheme

In one of the first decisions to interpret and apply the U.S. Supreme Court's recent decision in Lorenzo v. Securities and Exchange Commission, on April 11, 2019, the U.S. District Court for the Southern District of New York...more

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits - The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more

Perkins Coie

SCOTUS Upholds Strict Statute of Repose on Federal Section 11 Securities Claims

Perkins Coie on

In a 5-4 decision in California Public Employees’ Retirement System (CalPERS) v. ANZ Securities, Inc., et al. (No. 16-373), 582 U.S. ___ (2017), the U.S. Supreme Court upheld, at the end of last month, a U.S. Court of Appeals...more

Proskauer - California Employment Law

California Employment Law Notes - July 2017

In response to three questions asked of it by the United States Court of Appeals for the Ninth Circuit, the California Supreme Court opined as follows...more

Akin Gump Strauss Hauer & Feld LLP

The Supreme Court Holds Statute of Repose Cannot Be Equitably Tolled

Securities defendants can rest easier after the Supreme Court’s decision to strictly construe certain statutory time limits under the Securities Act of 1933. On June 26, 2017, the Court issued its opinion in California Public...more

Kramer Levin Naftalis & Frankel LLP

Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

On June 26, 2017, the Supreme Court issued a 5-4 decision in California Public Employees’ Retirement System v. ANZ Securities, Inc., et al. (“CalPERS”) (No. 16–373, 2017 WL 2722415) (U.S. June 26, 2017), holding that the...more

Dechert LLP

US Supreme Court Holds that 3-Year Time Limit to Challenge Registration Statements Cannot Be Tolled, Precluding Opt-Out Plaintiffs...

Dechert LLP on

Officers, directors, and underwriters frequently become targets of securities fraud litigation after a public offering. In a landmark case decided yesterday, the U.S. Supreme Court provides defendants with another tool to...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more

Bradley Arant Boult Cummings LLP

Who Says Loan Underwriting is Boring and Mechanical? Sixth Circuit Rules Loan Underwriters Exempt from FLSA Regs

In the eyes of at least one Federal court, loan underwriting is not mechanical; it requires discretion and independent judgment. That point was a key factor in the Sixth Circuit Court of Appeals’ recent affirmance in Lutz v....more

Robinson+Cole Class Actions Insider

Self-Driving Vehicles – Potential Class Action Exposure for Insurers?

Self-driving or autonomous vehicles is a hot topic in insurance industry media and mainstream media as well. I attended a great program on this at the Federation of Defense and Corporate Counsel (FDCC) annual meeting last...more

Orrick - Finance 20/20

$95 Million Settlement Approved in Morgan Stanley RMBS Case

Orrick - Finance 20/20 on

On December 18, Judge Katherine B. Forrest of the United States District Court for the Southern District of New York approved a $95 million settlement to end a class action brought by RMBS investors against Morgan Stanley. ...more

Orrick - Finance 20/20

Third Circuit Affirms Dismissal of Securities Class Action Against UBS

Orrick - Finance 20/20 on

On September 17, the U.S. Court of Appeals for the Third Circuit affirmed the dismissal, as time-barred, of a class action brought by RMBS certificateholders against UBS over losses related to the RMBS. Filing suit in...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - January 7, 2013

In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside The Courts - December 2012

This issue of Inside the Courts, Skadden's securities litigation newsletter, includes summaries and associated court opinions of selected noteworthy cases principally decided from July to November 2012. This edition addresses...more

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