News & Analysis as of

Misrepresentation

CFPB defends judgment in enforcement action against biweekly mortgage payment companies

by Ballard Spahr LLP on

Despite the CFPB’s change in position after Mick Mulvaney’s appointment regarding the need for Nationwide Biweekly Administration to post a bond to stay execution of the $7.9 million judgment obtained by the CFPB, the CFPB...more

West Virginia Court Allows Rescission of Professional Liability Policy

In its recent decision in ALPS Prop. & Cas. Ins. Co. v. Turkaly, 2018 U.S. Dist. LEXIS 5026 (S.D. W.Va. Jan. 11, 2018), the United States District Court for the Southern District of West Virginia had occasion to consider the...more

Ag-Gag Law Update

by Husch Blackwell LLP on

On June 22, 2017, September 15, 2017 and October 12, 2017, we blogged about so-called ag-gag laws, laws designed to prevent investigative journalism about producers of food. These laws raise serious First Amendment questions...more

Catucci v. Valeant: Implications for Quebec Financings

Quebec courts have reaffirmed how challenging it can be for underwriters, issuers and other defendants to resist securities class actions for statutory primary market liability at the authorization or “certification” stage....more

New Trial Ordered Where Jury’s Verdict Didn’t “Gel”

Last summer, we reported on a bizarre verdict in which an Illinois jury levied a $150 million punitive damages award against AbbVie, Inc., the drug company behind AndroGel, without awarding any compensatory damages. As...more

Federal Trade Commission Approves Settlement with Lenovo Over Ad Software

The Federal Trade Commission (FTC) has approved its proposed settlement with Lenovo, Inc. over the installation of pre-installed advertising software called VisualDiscovery onto Lenovo laptops. According to the FTC, the...more

#TheFTCisWatchingYou: Influencers, Hashtags and Disclosures 2017 Year End Review

by Patrick Law Group, LLC on

Influencer marketing, hashtags and proper disclosures were the hot button topic for the Federal Trade Commission (the “FTC”) in 2017, so let’s take a look at just how the FTC has influenced Social Media Influencer Marketing...more

Sixth Circuit Reverses Dismissal Of Putative Class Action, Finding Third-Party Complaints May Be Sufficiently "True" To Constitute...

by Shearman & Sterling LLP on

On December 13, 2017, the United States Court of Appeals for the Sixth Circuit reversed the dismissal of a consolidated putative class action against Community Health Systems, Inc. (“Community”), its CEO, and CFO. Norfolk...more

Court Denies Class Certification In Putative Class Action Against Fiber Optic Technology Company Where Defendants Successfully...

by Shearman & Sterling LLP on

On December 5, 2017, the United States District Court for the Northern District of California denied class certification in a putative securities fraud class action against Finisar Corporation (“Finisar”), a technology...more

Securities Fraud Action Based Upon DeVry University's Representations About Graduate Employment Rates Was Dismissed Because...

by Shearman & Sterling LLP on

On December 6, 2017, the United States District Court for the Northern District of Illinois dismissed a securities fraud lawsuit brought against DeVry Education Group, Inc. and several of its executives (“DeVry”), with leave...more

CFPB changes direction in enforcement action; Mulvaney names senior advisor

by Ballard Spahr LLP on

A new filing by the CFPB in its action against Nationwide Biweekly Administration Inc. may be an indicator of the enforcement philosophy of Mick Mulvaney, President Trump’s designee as CFPB Acting Director, and how that...more

Food Litigation Trends: New and Undefined Label Claims in 2017

by Pepper Hamilton LLP on

Part 1: Current Trends and Ingredient Claims - Class-action lawsuits involving the false advertising of food products continue to be one of the most active areas in class litigation. Originally published in Update...more

Second Circuit Dismisses Claims of Would-Be Ad-Blockers

On November 22, 2017, the Second Circuit in Heskiaoff v. Sling Media affirmed the dismissal of a class action complaint against Sling Media that alleged deceptive business practices in connection with Sling’s introduction of...more

Seventh Circuit, Critical of Purchasing Company’s Due Diligence, Declines To Find Seller Breached Of The Duty Of Good Faith

On November 27, the U.S. Court of Appeals for the Seventh Circuit decided the case of Betco Corporation v. Peacock, et al., which concerns a contractual dispute between the buyer and the seller of companies that produce and...more

Inside the Courts – An Update From Skadden Securities Litigators - November 2017/ Volume 9 / Issue 4

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between August 2017 and October 2017....more

FTC Announces $1.3 Million Settlement in Negative Option Case

by Kelley Drye & Warren LLP on

Last week, the FTC announced that an online lingerie company had agreed to return more than $1.3 million to customers who enrolled in a negative-option membership program offering discounts and other benefits....more

Fourth Circuit Court Of Appeals Affirms Dismissal Of Securities Fraud Class Action, Stating That Scienter Cannot Be Pled By...

by Shearman & Sterling LLP on

On November 15, 2017, the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of a putative securities fraud class action against PowerSecure International, Inc. (the “Company” or “PowerSecure”), and...more

CFPB Files Suit Against National Debt-Settlement Services Provider For Allegedly Misleading Consumers

by Goodwin on

On November 8, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced it filed suit in federal court in California against a national debt-settlement services provider and its CEO based on alleged violations of the...more

Don’t overlook the legal malpractice insurance application

by Dentons on

As part of the process of renewing or replacing legal malpractice insurance, law firms are typically required to complete an application. Law firms that treat the application as a formality and fail to give the application...more

Competitor’s Claim of False Advertising Through Use of Certification Mark Dismissed

by Dorsey & Whitney LLP on

In Board-Tech Elec. Co. v. Eaton Electric Holdings LLC, the U.S. District Court for the Southern District of New York recently dismissed a novel claim that a competitor’s authorized use of a third party’s certification mark...more

CFTC Fines Cargill $10 Million For Misreporting Swap Trades

by Shearman & Sterling LLP on

On November 6, 2017, the U.S. Commodity Futures Trading Commission (“CFTC”) filed a settled enforcement action against Cargill, Inc. (“Cargill”), an agriculture commodities trader, for allegedly misrepresenting the mid-market...more

Which Comes First Standing Or Class Certification? Northern District Of Illinois Weighs In

by Carlton Fields on

The Northern District of Illinois recently waded into the conflict between standing and class certification when it held that a putative class representative must demonstrate standing to assert each claim before the motion...more

Court Says “Lights Out” on UL Certification Lanham Act Claim

Last week, a federal judge in Manhattan examined the intersection of false advertising and trademark infringement law in connection with the alleged misuse of a certification mark, and found the plaintiff to be entitled to...more

Hedge Fund Manager Sentenced to Prison

by Dorsey & Whitney LLP on

A claimed hedge fund manager was sentenced to prison after pleading guilty to conspiracy to commit securities and wire fraud. Defendant Nicholas Mitsakos founded Matrix Capital, a California state registered investment fund...more

FTC Obtains $6.8 Million Judgment Against Two Individuals in “Free” Credit Report Scheme

by Goodwin on

?On October 30, the Federal Trade Commission (FTC) announced that it had obtained a stipulated order for a permanent injunction and monetary judgment against two individuals for allegedly using fake rental property ads to...more

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Cybersecurity

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