News & Analysis as of

Misrepresentation Class Certification

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

Summary Judgment for Insurer in Annuity Sales Practices Action

by Carlton Fields on

On March 31, in Chambers v. N. American Co. for Life & Health Ins., an action alleging RICO violations and other claims in the sales of deferred annuities to seniors, the Southern District of Iowa granted the insurer’s motion...more

Inside the Courts – An Update From Skadden Securities - June 2017

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February 2017 and April 2017. The cases address developing trends in class actions, ERISA, fiduciary duties,...more

Plaintiffs’ Securities Claims Denied Class Treatment for Failure to Satisfy Predominance Requirement

by Benesch on

On May 15, 2017, the United States District Court for the Southern District of New York denied class treatment to a proposed class action alleging violations of Section 10(b) of the Securities Exchange Act of 1934. In its...more

Southern District Of Ohio Holds Defendants Cannot Challenge The Manner In Which Shares Were Purchased At The Class Certification...

by Shearman & Sterling LLP on

On March 17, 2017, Judge Michael Watson of the United States District Court for the Southern District of Ohio certified a securities class action brought against Big Lots, Inc. (“Big Lots”) and various current and former...more

Immediate Relief: Application for Certification of B.C. Cold-Fx Class Action Dismissed

The British Columbia Supreme Court recently dismissed an application for certification of a class action regarding the cold and flu product Cold-Fx in Harrison v. Afexa Life Sciences Inc. (Harrison). The plaintiff alleged...more

Ninth Circuit Confirms Brazil v. Dole Decertification Due to Faulty Damages Model

In Brazil v. Dole, No. 14-17480 (9th Cir. Sept. 30, 2016), the United States Court of Appeals for the Ninth Circuit affirmed in part and reversed in part three different orders issued by the U.S. District Court for the...more

Inside the Courts: An Update From Skadden Securities Litigators - September 2016 / Volume 8 / Issue 3

We are pleased to present Inside the Courts (Volume 8, Issue 3), Skadden’s securities litigation newsletter. This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between...more

Your daily dose of financial news - The Brief – 9.8.16

by Robins Kaplan LLP on

In a move anticipated over the past year or so, Caliber Home Loans—with PE Lone Star Funds’ backing—is making more loans to “borrowers with spotty credit histories.” A euphemism for subprime, by the way. That targeting has...more

Third Circuit Rejects Inflated-Value Theory of Damages, Declines to Certify Law School Tuition Class

by Carlton Fields on

The Third Circuit recently affirmed the denial of class certification in a suit alleging that a law school made misrepresentations about the employment status of its graduates, thereby inducing students to pay inflated...more

Third Circuit Rejects Class Certification for Widener Law Grads

by Genova Burns LLC on

A panel of the Third Circuit Court of Appeals refused to allow class certification for a group of Widener University School of Law Graduates who allege that the law school inflated postgraduate employment rate statistics in...more

Deceptive Marketing Class Actions: Trump University

by Bennett Jones LLP on

The most talked about class action in Canada of late is not a Canadian class action at all, but rather one commenced in a U.S. District Court in the Southern District of California. Low v. Trump University, already certified...more

What’s That Smell?: Eleventh Circuit Vacates Class Certification for Failure to Show Classwide Exposure to Misrepresentations in...

On March 21, 2016, the Eleventh Circuit vacated a district court’s decision to grant class certification to California and Texas consumers claiming that Electrolux washing machines have a design defect that makes them prone...more

Recent Decisions in Class Actions Mixed Bag for Uber, Lyft

by Bryan Cave on

It was a mixed bag on the litigation front for Uber and Lyft last week following a string of decisions in class action lawsuits against these companies. On Tuesday, April 5, the Ninth Circuit granted Uber’s petition to...more

California Court Gets It Wrong On HRT Class Action

by Reed Smith on

We understand that not everyone shares our view of class actions, but we hold certain truths to be self-evident: The government, including its courts, cannot order someone to give money to someone else without due process of...more

Class Certification, Unfair Trade Practices, and Governing Standards

by Ellis & Winters LLP on

In Bumpers v. Community Bank of Northern Virginia, the North Carolina Supreme Court held that when a plaintiff alleges a violation of N.C. Gen. Stat. § 75-1.1 based on a misrepresentation, the plaintiff must prove actual and...more

The Class Action Chronicle - Fall 2015

This is the ninth edition of The Class Action Chronicle, a quarterly publication that provides an analysis of recent class action trends, along with a summary of class certification and Class Action Fairness Act rulings...more

Class Action Round-Up: Summer 2015

by Alston & Bird on

The big news this quarter is the U.S. Supreme Court’s acceptance of Tyson Foods, Inc. v. Bouaphakeo, an employment case likely to have major ramifications across the whole spectrum of class action litigation. The Court is set...more

New Jersey Federal Baked Goods Fraud Class Actions Are Toast

by Reed Smith on

On this date in 1901 (September 2nd), Teddy Roosevelt for the first time uttered in public the immortal phrase, "Speak softly and carry a big stick". It is hard to find people who do not admire that statement. It is harder...more

Cymbalta Class Certification Denied Again

by Reed Smith on

Is there a tougher federal district judge than Stephen Wilson in Los Angeles? By “tougher,” we do not mean in the usual sense when applied to judges: handing out long criminal sentences – though that certainly does apply to...more

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

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

HCA Holdings Must Present More Than “Speculation” of Affirmative Defenses to Defeat Class Certification, Sixth Circuit Holds

by Benesch on

Investors sued HCA Holdings, Inc., alleging that HCA’s registration statement and prospectus contained misrepresentations when HCA made its initial public offering in 2011. The district court certified a class of investors,...more

Texas District Court Denies Class Certification for Hedge Fund Investors on Numerosity and Predominance Grounds

by Carlton Fields on

In 2008, investors in the Parkcentral hedge fund lost as much as $3 billion dollars when Parkcentral’s investment in commercial mortgage-backed securities (“CMBS”) was devalued. The investors, limited partners of Parkcentral,...more

U.S. Supreme Court to Reconsider "Fraud-on-the-Market" Presumption in Securities Fraud Class Actions

by Holland & Knight LLP on

On November 15, 2013, the U.S. Supreme Court announced that it would revisit the "fraud-on-the-market" presumption that it adopted 25 years ago, which substantially expanded securities fraud class actions. The appeal in which...more

Is the United States Supreme Court Poised to Overrule or Modify Basic Inc. v. Levinson?

On November 15, 2013, the U.S. Supreme Court granted a petition for writ of certiorari to Petitioner Halliburton Company (“Halliburton”) in the case entitled Halliburton Co. v. Erica P. John Fund, Inc., f/k/a Archdiocese of...more

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