Fiduciary Duty, Justifiable Reliance

Fraud Notes: Two Cases and The Examination of Scienter

Freiberger Haber LLP on 6/3/2024

To state a cause of action for fraud, a plaintiff must allege “a material misrepresentation of a fact, knowledge of its falsity, an intent to induce reliance, justifiable reliance by the plaintiff and damages.” The...more

BBVA Receives Holiday Gift From Dallas Appellate Court: The Decision Includes Guidance for Private Company Owners

Winstead PC on 12/22/2020

Last week, the Dallas Court of Appeals overturned a $98 million trial court judgment, which was based on a jury finding that BBVA USA (BBVA) had defrauded one of its commercial borrowers. See BBVA, et al. v. Bagwell, et al.,...more

Chris Lazarini Analyzes Justifiable Reliance in Context of Securities Fraud Allegations

Bass, Berry & Sims PLC on 9/16/2019

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which 27 Chinese individuals alleged securities fraud after investing significant funds in a failed electric vehicle startup. The court dismissed the case, finding...more

Bankruptcy Beat: Jockeys Nearing Finishing Line in 25-Year Civil and Bankruptcy Litigation with their Former Business Managers

Pullman & Comley, LLC on 6/2/2015

Hall of fame horse racing jockeys Laffit Pincay, Jr. and Chris McCarron first sued their former business managers, Vincent and Robert Andrews, in California District Court in 1989 for fraud, breach of fiduciary duty and other...more

Inside the Courts - An Update From Skadden Securities Litigators - May 2015 / Volume 7 / Issue 2

Skadden, Arps, Slate, Meagher & Flom LLP on 6/2/2015

In This Issue: - U.S. Supreme Court: ..Omnicare, Inc. v. Laborers Dist. Council Constr. Indus. Pension Fund, 135 S. Ct. 1318 (4th Cir. Mar. 16, 2015) - Auditor Liability: ..In re Advanced Battery Techs.,...more

Delaware Cases: Good Faith, Non-Reliance and Fiduciary Duties

Akin Gump Strauss Hauer & Feld LLP on 2/12/2014

Last week, in American Capital Acquisition Partners, LLC v. LPL Holdings, Inc. (February 3, 2014), the Delaware Court of Chancery, in connection with a disputed earnout provision, allowed a claim for breach of the implied...more