News & Analysis as of

Misleading Impressions

SEC Risk Alert Highlights Most Frequent Investment Adviser Advertising Rule Violations

The SEC's Office of Compliance Inspections and Examinations (OCIE) issued a risk alert summarizing the compliance issues most frequently identified in SEC-registered investment advisers' deficiency letters with respect to...more

OCIE Publishes Risk Alert on Most Frequent Advertising Rule Compliance Issues Found During Examinations

by Dechert LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert on September 14, 2017 (Risk Alert). The Risk Alert highlights...more

Three Point Shot - September 2017

by Proskauer Rose LLP on

On August 25th, 2017, in a convincing knockout, a federal judge in Los Angeles dismissed dozens of lawsuits against Manny Pacquiao and Floyd Mayweather alleging Pacquiao's concealed shoulder injury impacted the quality of...more

OCIE Releases Risk Alert Regarding Advertisements of Investment Advisers

by Bracewell LLP on

On September 14, 2017, OCIE published a Risk Alert identifying issues associated with Rule 206(4)(1) of the Investment Advisers Act of 1940 (the “Advertising Rule”). The Risk Alert was based on observations of the OCIE staff...more

Misleading Labeling Suit Continues to Brew

A putative class action alleging that Kona Brewing Co. tricked consumers into believing its beer line is locally brewed in Hawaii will move forward after a California federal court judge denied the advertiser’s motion to...more

Funds Talk: October 2017 - SEC Issues Risk Alert Regarding Advertising Rule Compliance Based on Recent OCIE Examinations

On Sept. 14, 2017, the Securities and Exchange Commission (the “SEC”) issued a risk alert outlining certain compliance issues identified by the regulator’s Office of Compliance Inspections and Examinations (“OCIE”) related to...more

The SEC’s Office of Compliance Inspections and Examinations Warns Investment Advisers: “Don’t Mislead or We Will Proceed!”

On September 14, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert in which it highlighted a number of compliance issues it had identified relating to the so-called Advertising...more

Rulings, Orders, Settlements – August 4, 2017

by Perkins Coie on

Court Denies Motion to Dismiss for Non-Functional Slack-Fill Class Action - White v. Just Born, Inc., No. 2:17-cv-4025 (W.D. Mo.): The Court issued an order denying Defendant’s motion to dismiss this putative...more

Fourth Circuit Issues Mixed-Bag Decision On Punitive Damages In FCRA Cases

Inevitably, when conscientious judges delve into the multi-dimensional issue of excessive punitive damages, they get some things right and other things wrong. Such is the case with the Fourth Circuit’s recent decision in...more

Food Identity Disputes Continue to Impose High-Profile Pressure on FDA

As we reported on previously, FDA recently tussled with the manufacturer of an innovative vegan condiment called “Just Mayo” based on the existence of a Federal standard of identity for mayonnaise that requires the food...more

No interest? No Disclosure? No Problem!

The juxtaposition of Sections 1692e and 1692g continues to be a battle ground for the consumer bar and collection industry. Section 1692e prohibits false, deceptive or misleading representations in connection with the...more

Eighth Circuit Affirms Dismissal of RICO Claim in So-Called Shadow Insurance Suit

by Carlton Fields on

In Ludwick v. Harbinger Group, the U.S. Court of Appeals for the Eighth Circuit affirmed the dismissal under the McCarran-Ferguson Act of a federal RICO claim against Fidelity & Guaranty (and its owner and several affiliates)...more

Three Point Shot - June 2017

by Proskauer Rose LLP on

"12th Man" Suit Forces Aggies to Call an Audible on Traditional Copyright Defenses - Texas A&M University's "12th Man" is at the center of a legal blitz facing the University's Athletic Department. On January 19, 2017,...more

A questioning mind standards for negligence and recklessness in Greencool

by Hogan Lovells on

The Market Misconduct Tribunal (MMT) recently disagreed with the Securities and Futures Commission, holding that an executive director and a number of non-executive directors did not commit the market misconduct of...more

Dietary Supplement & Cosmetics Legal Bulletin | May 2017

Senators Call For Removal of Dioxane from Cosmetic Products - U.S. Sens. Chuck Schumer (DN. Y.) and Kirsten Gillibrand (DN. Y.) have petitioned the Food and Drug Administration to prohibit detectable levels of 1,4dioxane...more

Advertising Law - May 2017 #4

NAD Watches Paint Dry, Sides With Advertiser - The Sherwin-Williams Co. does not need to change the name of its “CoverMaxx” spray paints, the National Advertising Division of the Better Business Bureau said after...more

THE LATEST: EU Commission Fines Facebook EUR 110 million for Providing Incorrect or Misleading Information

by McDermott Will & Emery on

The Commission’s EUR 110 million fine on Facebook for breach of its procedural obligations under the EU merger control rules underscores the need to submit full, accurate and reliable information during the Commission’s...more

Second Circuit Affirms Dismissal of "Shadow Insurance" Lawsuits

by Carlton Fields on

In a summary order issued February 23, the United States Court of Appeals for the Second Circuit affirmed the dismissal of two so-called “shadow insurance” putative class action lawsuits — Ross v. AXA Equitable Life Insurance...more

NY Attorney General Sanctions Highlight Need for Higher Standards for mHealth Research and Development

by McDermott Will & Emery on

On March 23, 2017, the New York Attorney General’s office announced that it has settled with the developers of three mobile health (mHealth) applications (apps) for, among other things, alleged misleading commercial claims....more

The Competition Bureau applies strict standards to retail price claims in Canada

by Smart & Biggar on

Regular prices, sale prices, clearance sales – these terms are ubiquitous in the retail world and are a familiar component of marketing strategies intended to convince consumers that now is the best time to make a purchase...more

Don’t Game Your Players with False Advertising

Advertising for new games can present some troublesome legal issues, if due care is not taken. A recently concluded matter in the UK highlights an example of the potential issues. Hello Games was investigated by the...more

Industrial safety specialist properly fired for lying on security application

by Dentons on

An Ontario judge has decided that Atomic Energy of Canada Limited had just cause to dismiss an industrial safety specialist who misrepresented his employment history in a security application. ...more

Advertising Litigation Report: Vol. 2, No. 1

Lanham Act False Advertising - Lanham Act Liability for Native Advertising Violations - Casper Sleep, Inc. v. Mitcham, --- F. Supp. 3d ---, No. 16 Civ. 3224 (JSR), 2016 WL 4574388 (S.D.N.Y. Sept. 1, 2016)...more

Ninth Circuit and “Ascertainability”: No “Administratively Feasible” Method of Identifying Class Members Required

On January 3, 2017, the Ninth Circuit affirmed a district court’s decision to grant class certification, finding that, at the class certification stage, Rule 23 does not require plaintiffs to demonstrate that there is an...more

2016 Year In Review: Securities Litigation And Regulation

2016 was an active year in securities litigation. In the first half of 2016 alone, plaintiffs filed 119 new federal class action securities cases. It was also a busy year for SEC enforcement proceedings, with a record 868...more

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Cybersecurity

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