News & Analysis as of

Reversal Fraud

Freiberger Haber LLP

Courts Will Not Assist An Effort To Enforce An Illegal Contract

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By Jonathan H. Freiberger  The Courts of New York will not aid in the enforcement of a contract when the subject matter is illegal. Cases standing for this seemingly unremarkable proposition are varied. For example, in...more

Bradley Arant Boult Cummings LLP

2nd Circ. Adviser Liability Ruling May Shape SEC Enforcement

The U.S. Court of Appeals for the Second Circuit on March 13 issued a highly consequential decision in U.S. Securities and Exchange Commission v. Rashid, interpreting and applying the mental state for liability of investment...more

Davies Ward Phillips & Vineberg LLP

The Power and Peril of IP Addresses: The Supreme Court of Canada Weighs in on the Changing Landscape of Online Privacy

The Supreme Court of Canada recently delivered a landmark decision on the privacy rights of Internet users. In R v Bykovets, police investigating an alleged online fraud requested and obtained a suspect’s Internet Protocol...more

McDermott Will & Emery

Unfair Play: Unjust Enrichment for Copying and Using Non-Trade-Secret Spreadsheet

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The US Court of Appeals for the Second Circuit reversed a district court’s dismissal of an unjust enrichment claim, finding that unjust enrichment claims do not necessarily rise or fall with trade secret misappropriation...more

Patton Sullivan Brodehl LLP

Relying on a Void Quiet Title Judgment — Redux

In May 2021, Money and Dirt covered a case published by California’s Second Appellate District — Tsasu LLC v. U.S. Bank Trust, N.A. — holding that under Code of Civil Procedure section 764.060 (part of California’s Quiet...more

Foley & Lardner LLP

Michigan Supreme Court Overrules Longstanding Interpretation of “Blanket” Purchase Orders for Supply Contracts

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For many years, Michigan has consistently interpreted “blanket” purchase orders as binding requirements contracts that could bind suppliers (and buyers) for many years — frequently, for the life of a particular OEM or buyer...more

Dechert LLP

First Circuit Overturns Conspiracy Convictions in Varsity Blues College Admissions Case

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The First Circuit applied a narrow definition of “bribery” for honest services fraud under 18 U.S.C. § 1346. Payments made to the purportedly harmed party in the alleged bribery scheme—here, the universities—cannot...more

Lippes Mathias LLP

United States Supreme Court Unanimously Overturns Fraud Convictions

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In September 2016, the United States Attorney for the Southern District of New York charged, among other defendants, former New York Governor Andrew Cuomo’s campaign manager, Joseph Percoco, not-for-profit Fort Schuyler...more

King & Spalding

The Texas Court of Appeals Reverses Lender/Investor’s Damages Award Against Lender

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On February 14, 2023, the Texas Court of Appeals reversed awards totaling $63 million entered against Credit Suisse after a jury trial and bench trial for Claymore Holdings, LLC, the assignee of a lender-investor. The case...more

Eversheds Sutherland (US) LLP

Stymied fraud prosecutions could force DOJ prosecutors to reevaluate their strategy

On January 27, 2022, the United States Court of Appeals for the Second Circuit issued a decision in United States v. Connolly, overturning the 2018 fraud convictions of two former traders at a large financial institution. A...more

King & Spalding

Third Circuit Reverses Certification of “Issue” Class under Rule 23(c)(4)

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On September 24, 2021, the Third Circuit held that a Pennsylvania district court abused its discretion when it certified an “issue” class under Rule 23(c)(4). The Third Circuit adopted the “broad” view taken by a majority of...more

Holland & Knight LLP

Healthcare Law Update: April 2021

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William F. Gould In United States v. Merino, No. 19-50291, 2021 WL 754589 (9th Cir. Feb. 26, 2021), the court of appeals reversed the conviction of Marina Merino of conspiracy to commit healthcare fraud in violation of 18...more

Lathrop GPM

The Franchise Memorandum - Issue # 261

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Welcome to The Franchise Memorandum by Lathrop GPM. Below are summaries of recent legal developments of interest to franchisors. Fifth Circuit Reverses Trial Court’s Excusal of Area Representative’s Tardy Renewal Notice -...more

Goodwin

Ninth Circuit Holds Loss Causation May Be Predicated on Information Potentially Available Under Freedom of Information Act

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Ninth Circuit Holds Loss Causation May Be Predicated on Information Potentially Available Under Freedom of Information Act; D.C. Circuit Upholds FINRA’s Permanent Ban of Broker Accused of Misconduct After Finding SCOTUS...more

Payne & Fears

Ninth Circuit Rejects Excess Insurer's Attempt to Dispute Exhaustion of Underlying Insurance

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This week, in AXIS Reinsurance Co. v. Northrop Grumman Corp., ____ F.3d ____, 2020 WL 5509743 (9th Cir. Sept. 14, 2020), the Ninth Circuit addressed an important question of first impression: When can an excess insurer...more

King & Spalding

Ninth Circuit Reverses District Court’s Ruling that Class Representative Had Standing to Sue Company with Whom It Had No Dealings...

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On July 23, the Ninth Circuit vacated the district court’s judgment in favor of the plaintiff in Bahamas Surgery Center LLC v. Kimberly-Clark Corporation, a class action that was tried to a $454 million verdict in April 2017....more

Holland & Knight LLP

Healthcare Law Update: July 2020

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Thomas Stephenson Winter ex rel. U.S. v. Gardens Reg'l. Hosp. and Med. Ctr., Inc., 953 F.3d 1108 (9th Cir. 2020), the court of appeals reversed a district court order dismissing the plaintiff's qui tam False Claims Act (FCA)...more

Dechert LLP

UK Supreme Court gives boost to creditors: bar on recovery of “reflective loss” relaxed in Sevilleja v Marex Financial Ltd

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The rule against reflective loss bars claims against wrongdoers by shareholders of a company (for instance for the diminution in the value of their shareholding) where the shareholder’s loss is merely reflective of the loss...more

Dorsey & Whitney LLP

The Supreme Court - May 7, 2020

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Kelly v. United States, No. 18-1059: When the mayor of Fort Lee, New Jersey refused to back then-Governor Chris Christie’s reelection campaign, the Governor’s Deputy Chief of Staff, Bridget Anne Kelly, and others punished the...more

Lewitt Hackman

FRANCHISEE 101: Bar-B-Q Blues — A Tale of Friendship, Partnership, and Deceit

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A federal appeals court reversed dismissal of a claim against a barbeque restaurant franchisor. The court found that, despite having signed releases in favor of the franchisor, a former franchisee had valid claims for...more

White & Case LLP

Proving Fraud in the English Courts – a higher standard?

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The Court of Appeal has confirmed in Bank St Petersburg PJSC v Vitaly Arkhangelsky that the correct standard of proof where issues of dishonesty arise is not a ‘heightened’ civil standard, but the balance of probabilities....more

Miles & Stockbridge P.C.

INSIGHT: Fifth Circuit ‘Home Cooking’ Ruling Harms Future U.S. Trade Partners

A Fifth Circuit ruling that failed to enforce a roughly $123 million Moroccan judgment against haircare and liquor tycoon John Paul DeJoria harms trade relations between the U.S. and foreign nations. The authors, attorneys at...more

Burr & Forman

If Your Retirement Plan Holds Employer Securities, Keep an Eye on the Jander Case

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“Employer securities” in retirement plans have been the source of a significant amount of litigation under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In general, “employer securities” are...more

Locke Lord LLP

U.S. Supreme Court Remands “Stock Drop” Case Back to Second Circuit

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The United States Supreme Court, in a per curiam decision, declined to address whether plan participants sufficiently alleged breach of fiduciary duty claims under the Employee Retirement Income Security Act of 1974, as...more

Groom Law Group, Chartered

Supreme Court Vacates & Remands Plaintiff-Friendly Ruling in IBM “Stock Drop” Litigation

Brief Takeaway:  Plan sponsors that offer employer stock in their benefit plans can breathe a sigh of relief, as the Supreme Court vacated one of the only plaintiff-friendly rulings in ERISA “stock drop” litigation.  ...more

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