News & Analysis as of

Pecuniary Losses

Seward & Kissel LLP

SEC v. Ripple: Was it Worth it?

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On August 7, 2024, the U.S. District Court for the Southern District of New York permanently enjoined Ripple from future violations of Section 5 of the Securities Act of 1933—that is, from the unregistered offer and sale of...more

Proskauer - Regulatory & Compliance

Proskauer Hedge Fund Trading Guide 2024 – Chapter 2: Insider Trading: Focus on Subtle and Complex Issues

Proskauer’s Hedge Fund Trading Guide offers a concise, easy-to-read overview of the trading issues and questions we commonly encounter when advising hedge funds and their managers. It is written not only for lawyers, but also...more

Paul Hastings LLP

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

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Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Reins in SEC Disgorgement Powers

In Securities & Exchange Commission v. Govil, No. 22-1658, 2023 WL 7137291 (2d Cir. Oct. 31, 2023), the United States Court of Appeals for the Second Circuit dealt a setback to the enforcement agenda of the Securities and...more

Constangy, Brooks, Smith & Prophete, LLP

Labor law roundup

I hope this won't ruin your Labor Day weekend. The employer-unfriendly decisions from the National Labor Relations Board have been coming fast and furious. In honor of the holiday, here's a short recap. As you probably...more

Kohrman Jackson & Krantz LLP

Remedies for NLRA Violations Now Include Consequential Damages: What Employers Should Know

On Dec. 13, 2022, the National Labor Relations Board (NLRB) issued a monumental decision that significantly expands upon the remedies available to employees for violations of the National Labor Relations Act (NLRA). In Thryv,...more

Bodman

NLRB Expands Potential Recovery in Unfair Labor Practice Cases

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The National Labor Relation Act (“Act”) permits the National Labor Relations Board (“Board” or “NLRB”) to award damages to employees that put them in the financial position in which they would have been if no violation had...more

Stevens & Lee

New NLRB Ruling Expanding Remedy Will Likely Lead to More Litigation

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Based on a recent ruling by the National Labor Relations Board in an unfair labor practice case, employers should prepare to show that pecuniary harm would have occurred in the absence of an unfair labor practice or that harm...more

Sherman & Howard L.L.C.

TRUTH OR CONSEQUENTIALS: The NLRB Expands Make-Whole Relief

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The National Labor Relations Board (NLRB) dealt employers a stinging blow this week when it created, out of whole cloth, potentially expensive new remedies in unfair labor practice proceedings in Thryv, Inc. Although...more

Jackson Lewis P.C.

Beyond Backpay: Labor Board Adds Extra Compensation to Employees in ‘Make-Whole’ Awards

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In a 3-2 decision, the National Labor Relations Board (NLRB) has expanded its own authority to order consequential damages in all cases in which “make whole” relief is appropriate. Thryv, Inc., 372 NLRB No. 22 (Dec. 13,...more

Constangy, Brooks, Smith & Prophete, LLP

NLRB expands standard remedy available for unfair labor practices

On Tuesday, the National Labor Relations Board, in a 3-2 decision, expanded the remedy available for unfair labor practices to include a make-whole remedy for "all direct or foreseeable pecuniary harms” resulting from the...more

Fox Rothschild LLP

NLRB Ups the Ante on Remediation of Unfair Labor Practices

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The National Labor Relations Board has issued a decision that expands employer exposure under the National Labor Relations Act, requiring for the first time that employers compensate employees for “foreseeable pecuniary...more

Amundsen Davis LLC

NLRB Solidifies Aggressive “Make-Whole” Relief: Employers Will Face Costlier Remedies for Unfair Labor Practices

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In another pro-union decision, the National Labor Relations Board (“NLRB” or “Board”) recently held that employers are responsible for all “direct or foreseeable pecuniary harms” sustained by employees as a result of an...more

Zuckerman Spaeder LLP

Sentencing in Government Contracting Fraud Cases When There is No Actual or Intended Loss

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In government contracting fraud cases with no actual or intended loss, defense attorneys should be on the lookout for prosecution attempts to invoke the “government benefits rule” to estimate “total gain” as an alternative...more

Hinshaw & Culbertson - Lawyers for the...

Illinois Supreme Court Applies Adverse Judgment Rule, Rejects Statute of Limitations Defense in Legal Malpractice Claim

The Illinois Supreme Court held that hiring new counsel and incurring legal fees did not, by itself, trigger the two-year statute of limitations to file a legal malpractice action (735 ILCS 5/13-214.3(b)) because plaintiffs...more

Holland & Hart LLP

Wyoming Chancery Court Has Launched

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The Chancery Court is now up and running in Wyoming. Its stated purpose is “to provide a forum for streamlined resolution of commercial, business and trust cases.” The goal is to resolve business and trust cases in a more...more

Vinson & Elkins LLP

DOL Issues Non-Enforcement Notice For Two Final ESG Investment Rules

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ERISA plan fiduciaries may be breathing a small sigh of relief this week after the U.S. Department of Labor (the “DOL”) issued a statement on March 10, 2021, that it would not pursue enforcement actions for violations of two...more

Bradley Arant Boult Cummings LLP

The “Pecuniary” Rule: A Roadmap for Navigating the DOL’s Final Rule on Financial Factors in Selecting Plan Investments

The Department of Labor (DOL) has issued a final rule to revise its existing rule regarding financial factors in selecting plan investments. We discussed the proposed rule in an earlier article, and this article provides a...more

McGlinchey Stafford

Florida Real Property & Business Litigation Report, Volume 13, Issue 26

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Liu v. Securities And Exchange Commission, Case No. 18–1501 (2020). Equitable relief, including disgorgement, is permissible under the Securities Act of 1933, 15 U. S. C. §77a et seq., so long as it does not exceed a...more

Downs Rachlin Martin PLLC

Vermont Supreme Court Recognizes Exception to the Economic Loss Rule

Sutton v. Vermont Regional Center, 2019 VT 71 (Oct. 14, 2019) - Despite its longstanding reputation as liberal and sympathetic to plaintiffs, the Vermont Supreme Court has for a very long time strictly enforced the...more

Harris Beach PLLC

Decision Provides Insight on New York State Law Regarding Scope of Damages for Wrongful Death of Children

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By addressing the scope of damages sought in a wrongful death lawsuit for one’s child, a recent decision has reaffirmed the bar of recovery of non-pecuniary damages. In separating pecuniary damages from psychological damages,...more

Proskauer - Employee Benefits & Executive...

Sixth Circuit Holds Pecuniary Loss Not Required to Establish Standing In Benefit Claim

The Sixth Circuit joined several other circuits in holding that a participant need not have actually incurred a financial loss in order to have standing to assert an ERISA claim for benefits under Section 502(a)(1)(B). Here,...more

Patterson Belknap Webb & Tyler LLP

Speak Now? The Ninth Circuit Weighs in on Appellate Standing

A recent decision from the Ninth Circuit Court of Appeals highlights an existing circuit split regarding appellate standing. Courts in the Fourth and Seventh Circuits have disagreed whether objection and attendance at a...more

Baker Donelson

Keeled Hulls Split At Sea – The Fraught Waters Of General Maritime Law Punitive Damages, Split Among The Circuits

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Steady, helmsman! Steady. This is the sort of weather when brave hearts snap ashore, and keeled hulls split at sea. Moby Dick, Herman Melville, Chap. XL - Since the Supreme Court’s (Justice Thomas’s) landmark decision in...more

Jones Day

Appellate Court Limits Who May Sue Under Biometric Information Privacy Act

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As noted in a prior Commentary, plaintiffs continue to bring a flood of lawsuits under Illinois' Biometric Information Privacy Act ("BIPA") against companies that collect, use, or store biometric identifiers. Many of these...more

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