News & Analysis as of

Misrepresentation Fraud

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

Vineyard buyer's fraud claim dying on the vine

by Thompson Coburn LLP on

Sellers of a vineyard were exonerated of a claim for fraud because they “could not be held liable for nondisclosure in the absence of evidence they had actual knowledge of the facts to be disclosed.” In Opinion - RSB...more

Federal Trade Commission Reaffirms Commitment to Enforce EU-US Privacy Shield

by Dechert LLP on

The U.S. Federal Trade Commission (FTC) recently settled enforcement actions against three companies accused of misleading consumers about their participation in the European Union-United States Privacy Shield framework,...more

Broken Promises: Not Actionable Fraud In Florida

by Fox Rothschild LLP on

I previously blogged on the continuing existence of the independent tort doctrine in Florida. In lawsuits between parties who bargained for their remedies in a contract, the independent tort doctrine will bar tort actions...more

Federal Jury Returns $150 Million Punitive Verdict Against AbbVie—Without Awarding Any Compensatory Damages For The Plaintiff’s...

You’ve likely seen by now media reports about an Illinois federal jury’s $150 million punitive award against AbbVie in a case brought by a plaintiff who alleged that AbbVie’s low-T medication AndroGel caused his heart attack....more

Jury Tests the Limits in AndroGel False Ad Verdict

In late July, an Illinois jury came to a bizarre verdict in a case over an alleged link between heart attacks and AndroGel, a gel product used for treating low testosterone (or “low T”). The jury found that AbbVie, Inc., the...more

An Oil Patch Morality Play – Part 2

by Gray Reed & McGraw on

We recently discussed Freeman v. Harleton. The opinion shows the transaction as a bunco job. Here’s more: Bufkin and Wayne Freeman have done business together since the 1980s. They had a co-development agreement with...more

Escobar case limits False Claims Act liability for providers

by Thompson Coburn LLP on

Health care providers, as government contractors, must make certain representations of fact when submitting claims for government program reimbursement, such as Medicare. Sometimes through no fault of the contractor, such...more

Grand Jury Indicts Startup Founder Isaac Choi – Implications for Silicon Valley

by Fenwick & West LLP on

On June 7, the U.S. Department of Justice arrested Isaac Choi, the founder and former chief executive of the Silicon Valley startup, WrkRiot, on wire fraud charges. A San Jose, California grand jury had indicted Choi under...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Barclays and a group of its former execs are facing charges of fraud by false representation by Britain’s Serious Fraud Office over deals they struck with Qatar in 2008 to avoid a government bailout....more

Vast – Or at Least Half-Vast – Conspiracy Claim Dismissed

by Reed Smith on

Imagine a conspiracy so vast that it includes not only your usual plaintiff-side fantasy of the FDA conspiring with a drug company, but also high FDA officials, President Obama, Robert Mercer (noted Trump supporter and...more

Legal Lessons from “Maserati Rick” – The Man Who Falsely Claimed to be a Miami Dolphin for Over 3 Years

by Butler Snow LLP on

In 2014, Ricardo Agnant, a.k.a. “Maserati Rick,” snuck into an NFL Regional Combine at the Miami Dolphins’ training center. An NFL Regional Combine is a selective NFL-sanctioned event that provides aspiring NFL athletes a...more

Art Advisors and Duty of Loyalty in Focus Again Over Sale of Basquiat

by Sullivan & Worcester on

We reviewed in December an important decision that addressed the duties of loyalty that art advisors may, or may not, owe to their clients in dealing in the art market. That question—of to what extent advisors and...more

Sixth Circuit Upholds Dismissal of Fraud and Contract Claims Against Employer Sponsoring Green Card Application for Employee

by Butler Snow LLP on

In an interesting case situated at the intersection of immigration and contract law, the Sixth Circuit recently affirmed a district court’s dismissal of claims against Dow Corning Corporation stemming from its sponsoring an...more

Privileged information is generally safe from Subject Access Requests

by White & Case LLP on

Subject Access Requests ("SARs") are an increasingly popular weapon in litigation, because they can be used to provide a cheap and quick form of pre-action disclosure. However, courts have confirmed that information subject...more

California Federal Court Holds that U.S. Securities Laws Apply to Sponsored, Unlisted ADRs

The U.S. District Court for the Northern District of California held on January 4, 2017 that the federal securities laws apply to U.S. transactions in sponsored, but unlisted, American Depositary Receipts (“ADRs”) for a...more

Investor’s Relocation to New York after Structuring a Financing Deal in Hong Kong Does Not Provide a Basis for Suit Against Swiss...

In Ace Decade Holdings Ltd. v. UBS AG, No. 653316/2015, 2016 BL 413780 (N.Y. Sup. Ct. Dec. 7, 2016), Justice Eileen Bransten of the Commercial Division dismissed a $500 million fraud suit brought by an investment holding...more

Nebraska Real Estate And Nebraska Borrowers, But Federal Arbitration Act Applies

In a fight over whether a single lending transaction involved interstate commerce, the Supreme Court of Nebraska found the Federal Arbitration Act (FAA) applied and preempted its state arbitration act. Wilczewski v. Charter...more

Directors’ Duties in the UK (England and Wales)

by Reed Smith on

A director who breaches the obligations and duties imposed on him by his office may be liable to compensate the company for breach of duty, may incur personal liability for the company’s debts, may also face criminal or civil...more

Avoiding Lender Liability for Credit-Related Actions in California

by Snell & Wilmer on

Aside from general statutory prohibitions on lender discrimination, there are certain circumstances under California law in which lenders may be held liable for credit-related actions, such as negotiating or denying credit....more

Double-Breasted Company Owners, Officers Can Be Indicted for Underpaying Benefit Contributions

by Holland & Knight LLP on

The U.S. District Court for the District of Massachusetts held in September that the shareholders and officers of a double-breasted construction company can be indicted and could go to prison if the government proves they...more

UK Regulator Bans former Barclays Wealth Management Chief Operating Officer

by Shearman & Sterling LLP on

The Financial Conduct Authority published a Final Notice banning Mr. Andrew James Tinney from the UK financial services industry. Mr. Tinney was the Global Chief Operating Officer of Barclays Wealth and Investment Management,...more

Ninth Circuit Affirms Dismissal of Fraud-Based UCL Claims Based on Lack of Reliance

The Ninth Circuit Court of Appeals’ recent decision in Haskins v. Symantec Corp., Case No. 14-16141 (9th Cir. June 20, 2016), supports the requirement that plaintiffs must allege exposure to and reliance on specific...more

A State Law Wolf in Federal Common Law Clothing: The Third Circuit Rejects Insured’s Attempt to Expand Causes of Action Under the...

Courts across the country (and particularly since Super Storm Sandy in 2012) have consistently held that, in litigation involving a dispute concerning the investigation, adjustment, or payment of a flood claim under the...more

LogMeIn Class Action Dismissed: Termination of Free App Not False Advertising

A judge in the Eastern District of California recently dismissed a class action filed against LogMeIn based on the company’s decision to terminate its free app, which allowed users to access a remote desktop computer via a...more

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Cybersecurity

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