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Contract Terms Fraud Criminal Prosecution

Foley Hoag LLP - White Collar Law &...

Federal Fraud: No Harm, No Foul? Supreme Court Says “Not So”

On May 22, 2025, the Supreme Court issued a unanimous decision broadening applicability of the federal wire fraud statute. In Kousisis v. United States, the Court held that a defendant may be convicted of wire fraud for...more

WilmerHale

Supreme Court Rejects Economic-Loss Requirement for Wire Fraud but Underscores Materiality as a Limiting Element of Federal Fraud...

WilmerHale on

On May 22, 2025, the Supreme Court unanimously declined to limit federal wire fraud to cases involving economic loss to the victim, upholding convictions of two government contractors who obtained contracts from a state...more

McGuireWoods LLP

Supreme Court Declines to Narrow Reach of Federal Fraud Law

McGuireWoods LLP on

On May 22, 2025, the Supreme Court published its opinion in Kousisis v. United States, No. 23-909, 605 U.S. __ (2025), holding that one who induces a victim to enter into a transaction under materially false pretenses may be...more

DLA Piper

Supreme Court Paves The Way for Increased Enforcement by Rejecting “Economic Loss” Requirement for Fraud Charges, Broadening...

DLA Piper on

For the last decade and more, the federal courts have grappled with the precise parameters of the federal wire fraud statute (and analogous criminal statutes). Among other things, there has been a Circuit split for some...more

Morgan Lewis

Supreme Court Broadens Wire Fraud Liability to Include Fraudulent Inducement Without Economic Loss

Morgan Lewis on

The US Supreme Court’s ruling on May 22, 2025 expands the scope of federal wire fraud to include convictions based on fraudulent inducement even without economic harm. This development raises the stakes for entities involved...more

Cadwalader, Wickersham & Taft LLP

The Delaware Court of Chancery Rejects Termination of Merger Agreement Based on Material Adverse Effect

In Channel Medsystems, Inc. v. Boston Scientific Corporation, the Delaware Court of Chancery rejected an attempt by Boston Scientific to terminate and thus avoid consummating a merger agreement with Channel on the grounds...more

Patterson Belknap Webb & Tyler LLP

Court Dispenses With Fraud Defense Based on Gumball Victims’ Disclaimers

The Chicklets and Runts vending machine at your local car repair shop last decade may have been one piece of a fraudulent enterprise that ensnarled roughly 7,000 victims. As CEO of Vendstar, Defendant Edward (“Ned”) Weaver...more

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