News & Analysis as of

Reversal Investment Adviser

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

Proskauer - Employee Benefits & Executive...

Ninth Circuit Revives Second Excessive Fee 401(k) Plan Litigation

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share...more

Goodwin

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

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In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Robins Kaplan LLP

Financial Daily Dose 6.30.2020 | Top Story: Supreme Court Allows President to Fire CFPB Director, Lets Agency Remain

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By a 5-4 margin, the Supreme Court has ordered the restructuring of the Consumer Financial Protection Bureau, “ruling the agency’s structure was unconstitutional because its director held too much unchecked power.” The fix,...more

Bennett Jones LLP

Ontario Court of Appeal Affirms Limits on Auditor Liability

Bennett Jones LLP on

On September 5, 2018, the Court of Appeal for Ontario released its decision in Lavender v Miller Bernstein LLP,1 overturning a summary judgment ruling that imposed significant liability on an auditor in previously...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Contractual v. Fiduciary Obligations

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which plaintiff claimed breach of contract when her investment advisor did not transfer funds in a timely manner. The trial court and court of appeals awarded...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments

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Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. ...more

Bass, Berry & Sims PLC

Chris Lazarini Examines Whether a Commodity Futures Contract is a "Security"

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini examined a case in which the appellate court upheld a jury verdict in favor of Plaintiff, finding commodity futures contracts are not "securities" and Plaintiff, who was trading them...more

A&O Shearman

New York Appellate Court Dismisses CDO-Related Fraud Claims, Because Plaintiffs Failed To Show That Misrepresentations, Not Market...

A&O Shearman on

On March 3, 2017, the First Department of the Appellate Division of New York Supreme Court reversed a lower court’s ruling and ordered summary judgment to be entered in favor of the defendant, TCW Asset Management Company...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - November 2016

Proskauer Rose LLP on

This month we review a recent Second Circuit decision addressing ERISA plan status as a class member in a securities shareholder class action. As discussed in the article, the decision exposes a potential conflict among the...more

Winstead PC

Court Reversed Summary Judgment For A Client As Against His Financial Advisor

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In Kang v. Song, Song sued Kang for fraud, violations of the Texas Securities Act, violations of Texas’s Deceptive Trade Practices Act (DTPA), breach of fiduciary duty, negligent misrepresentation, breach of contract, and...more

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