News & Analysis as of

Reasonable Reliance Claims

Freiberger Haber LLP

Pleading Reasonable Reliance Is “Always Nettlesome”

Freiberger Haber LLP on

By: Jeffrey M. Haber In TD Bank, N.A. v. Keenan, 2023 N.Y. Slip Op. 06158 (2d Dept. Nov. 29, 2023) (here), the Appellate Division, Second Department examined the often “nettlesome” question of whether a plaintiff claiming...more

Carlton Fields

Mark Cuban’s Cryptocurrency Conundrum: The Road to Filing Sanctions

Carlton Fields on

Selecting a named plaintiff in a putative class action can be one of the most important, but overlooked, decisions that a plaintiff’s counsel makes. Picking the wrong plaintiff can lead to delay, dismissal of claims, denial...more

Mintz - Employment Viewpoints

New York Significantly Expands its Whistleblower Law

New York has greatly expanded its “whistleblower” law. The amendments to New York Labor Law §740 go into effect on January 26, 2022 and undoubtedly enhance employee protections and require New York employers to take certain...more

Jackson Lewis P.C.

Fifth Circuit ERISA Decision Denies Widow Paid-For Life Insurance Benefits

Jackson Lewis P.C. on

On October 19, 2021, the Fifth Circuit Court of Appeals denied a widow supplemental group life insurance benefits of $300,000 upon her husband’s death even though he had paid the premiums for the coverage for four years...more

Lewitt Hackman

Franchisee 101: They Were Just Kidding

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A federal district court in Baltimore granted summary judgment against a former franchisee who claimed negligent misrepresentation against the franchisor and its officers. The court found there was no genuine issue of...more

Lewitt Hackman

Franchisee 101: Expo is No Excuse

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A federal court in Missouri ruled that a franchisee’s fraud claim cannot be based on the franchisor’s prediction at a franchise expo of future success in the franchised business....more

Manatt, Phelps & Phillips, LLP

Court Allows ‘Reasonable Reliance’ on Prior Subscriber Consent

Callers have the right to reasonably rely on the consent of a prior subscriber to a telephone number, a federal district court in Massachusetts has ruled, granting summary judgment in favor of the defendant....more

Allen Matkins

Does Section 25400(d) Require Reliance?

Allen Matkins on

Yesterday's post noted that Section 25400(d) was modeled on Section 9(a)(4) of the Securities Exchange Act of 1934. Federal courts have stated that Section 9(a)(4) is violated when there is a...more

Proskauer - Corporate Defense and Disputes

Second Circuit Rejects Securities Claims Based on Generic Statements About Ethics and Compliance

The Court of Appeals for the Second Circuit yesterday affirmed the dismissal of a securities class action alleging misrepresentations arising from generalized statements about an issuer’s compliance efforts and Code of...more

McDermott Will & Emery

Corporate Law & Governance Update - June 2018

McDermott Will & Emery on

Executive Compensation Recoupment - The most recent development in the prominent University of Louisville Foundation controversy is the release of an independent analysis suggesting that its senior executive leadership was...more

Womble Bond Dickinson

The FCC is Set to Consider the Definition of “Called Party” and the Fate of the TCPA Hangs in the Balance

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As we reported here last week, the FCC is seeking comment on a number of key issues that were addressed in ACA Int’l. One of these key issues is the definition of the term “called party,” which has the potential to completely...more

Nilan Johnson Lewis PA

The Questionable Non-Compete: How to Hire Someone but Avoid a Tortious Interference Claim

Nilan Johnson Lewis PA on

The Scenario - Your company has a great applicant for a job opening, Jane, but you learn during the interview process that Jane signed a non-compete agreement with her current employer. You can quickly spot some reasons...more

Patterson Belknap Webb & Tyler LLP

Commercial Division Flags Novel Issue of Reasonable Reliance In LLC Member Battle

In PMC Aviation 2012-1 LLC et al. v. Jet Midwest Group, LLC et al., No. 654047/2015, BL221447 (Sup. Ct. Jun. 21, 2017), Commercial Division Justice Shirley Kornreich denied a motion to dismiss a fraudulent inducement claim by...more

Jackson Walker

Class Action Report - October 2016

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As the Supreme Court begins its new term, the trajectory of its recent class certification guidance will be a key issue for many. The spring and summer of 2016 delivered significant new contours in class certification...more

Troutman Pepper

Alert to Contractors – California Court of Appeals (2d App. Dist.) Rules Subcontractor Price in Proposal Containing Material...

Troutman Pepper on

Flintco Pacific, Inc. v. TEC Management Consultants, Inc., 2016 Cal. App. LEXIS 594 (Cal. App. 2d Dist. June 21, 2016) - There was an important California decision published on July 19, 2016 (decided June 21, 2016)...more

Mintz - Securities Litigation Viewpoints

Five Advantages to Section 18 – A New Weapon for Institutions

Section 18 of the Securities Exchange Act, while seldom used in the past, has been increasingly used by institutional investors in suits against banks and other entities. The advantages of Section 18 are as follows...more

Dorsey & Whitney LLP

Overstock Under Scrutiny: Does This Recent Decision Represent a New Wave of California Litigation for Sellers of Consumer Products...

Dorsey & Whitney LLP on

It is not often that a decision from a California trial court receives or deserves as much attention as the recent tentative decision issued by Alameda County Superior Court Judge Wynne Carvill in the State’s case against...more

Morrison & Foerster LLP

U.S. Supreme Court Grants Certiorari in ERISA Stock Drop Case

Morrison & Foerster LLP on

On December 13, 2013, the U.S. Supreme Court granted certiorari in Dudenhoeffer v. Fifth Third Bancorp, et al., No. 12-751, to review a decision by the Sixth Circuit reversing dismissal of a complaint in an ERISA stock drop...more

Latham & Watkins LLP

Not So Basic Supreme Court to Revisit the Fraud-­on-­the Market Presumption of Reliance

Latham & Watkins LLP on

Parties to pending securities fraud class actions may adjust litigation strategies, even before the Court revisits Basic’s presumption of investor reliance. On Friday, November 15, 2013, the Supreme Court granted...more

Orrick - Finance 20/20

New York Appellate Court Reinstates Fraudulent Inducement Claim Against Goldman and M&T Bank

Orrick - Finance 20/20 on

On May 7, New York’s First Department appellate court reinstated CIFG Assurance North America, Inc.’s fraud claim against Goldman Sachs & Co. and M&T Bank. Last May, a New York trial court dismissed CIFG’s claim for...more

Hinshaw & Culbertson LLP

Representations Of Future Tax Treatment To Induce Creation Of Pension Plan Are Not Actionable As A Matter Of Law

The California Fourth District Court of Appeal adopted the principle that it is inherently unreasonable for any person to rely on a prediction of future IRS enactment, enforcement, or non-enforcement of the law by someone...more

Hinshaw & Culbertson LLP

Attorney Fee Award to Debtor Is Affirmed Where Creditor's "Reasonable Reliance" Claims Have No Merit

In Heritage Pacific Financial LLC v. Machuca, 2012 DJDAR 16803 (2012), the US Bankruptcy Appellate Panel for the Ninth Circuit decided an interesting attorney fee case arising in the commercial litigation context. The fee...more

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