News & Analysis as of

Special Relationship

Claim Dismissed Against Brand For Deceptive Label, But Retailer May Still Pay - Eidelman v. Sun Prod. Corp., No. 16-cv-3914 (NSR)...

by Carlton Fields on

A negligent misrepresentation claim against laundry detergent brand The Sun Products Corp., for an allegedly deceptive label was dismissed by a New York federal district judge, while an unjust enrichment claim against...more

A New and Important Development in Insider Trading Law

by Seyfarth Shaw LLP on

In a case likely to have ongoing ramifications, the Second Circuit recently upheld the conviction of Matthew Martoma, a former portfolio manager for Stephen Cohen’s SAC Capital. In so doing, the court clarified, at least for...more

“It’s Complicated:” The Evolving Case Law on How Relationships Impact Insider Trading Liability

Last Wednesday, former SAC Capital Advisors manager Mathew Martoma lost a bid to overturn his 2014 insider trading conviction in the Second Circuit. United States v. Martoma, No. 14-3599, 2017 WL 3611518 (2d Cir. Aug. 23,...more

Second Circuit Martoma Ruling, Affirming Tippee’s Conviction, Backtracks on Newman, and Adds Yet More Uncertainty to Ever-Evolving...

by Carlton Fields on

Last week's dueling Second Circuit opinions in United States v. Martoma – Chief Judge Katzman’s 37-page majority opinion and Judge Pooler vigorous 44-page dissent – once again transformed insider trading law. In the aftermath...more

Newman’s “Meaningfully Close Personal Relationship” Requirement No Longer Good Law

A divided Second Circuit panel (Katzmann, Pooler (dissenting), Chin) on Wednesday upheld the insider trading conviction of former SAC Capital portfolio manager Mathew Martoma. Confronting its precedent in United States v....more

U.S. v. Martoma: The Second Circuit Reconsiders the Personal Benefit Rule in Insider Trading Cases and Announces the Partial...

• A divided 2nd Circuit holds that there is no requirement for a “meaningfully close personal relationship” between a tipper and tippee in order for the tipper to reap a personal benefit from the disclosure sufficient to give...more

Martoma: Second Circuit Abrogates Newman, Broadens Dirks

by Burr & Forman on

A Second Circuit Panel held that the Supreme Court’s Salman decision abrogated the Circuit’s Newman requirement of a “close personal relationship” under the “gift theory” of insider-trading; the dissent claims the Panel...more

Second Circuit Holds That Tipper/Tippee Liability Can Arise from a Gift of Inside Information Even Without a Close Personal...

The Second Circuit ruled today that a “meaningfully close personal relationship” is not required for insider-trading liability where a tipper discloses inside information as a gift or in exchange for some other type of...more

Divided Second Circuit Panel Upholds Martoma Conviction, Ruling that Newman’s “Meaningfully Close Personal Relationship”...

In a highly anticipated decision, a divided Second Circuit panel (Katzmann, Pooler (dissenting), Chin) yesterday upheld the insider trading conviction of former SAC Capital portfolio manager Mathew Martoma, ruling that the...more

Lender Not Liable for Client’s Suicide

by Burr & Forman on

In Surloff v. Regions Bank, et al., No. 4D14-842, 2015 WL 7275207 (Fla. 4th DCA Nov. 18, 2015), the Fourth District Court of Appeal of Florida was faced with the issue of whether Regions Bank (the “Bank”) had any duty or...more

Duty to Prevent Harm and Duty to Disclose are Both Part of General Duty to Exercise Reasonable Care

In Doe v. Superior Court (filed 5/29/15, No. H040674), the California Court of Appeal, Sixth Appellate District, held that a defendant’s reasonable duty of care to prevent harm to a minor and her parents encompassed the duty...more

Traditional Franchise And Beer Distribution Relationships: A Legal Comparison

by Lewitt Hackman on

Beer distribution laws differ from traditional franchise laws in many ways, but the two regimes do share some commonalities. As a matter of fact, many states now regulate the relationship between those who brew or import beer...more

California Court of Appeal Limits Scope of Agent's Immunity Rule Based on "Special Relationship" Between Insurers and Insureds

On April 2, 2014, the California Court of Appeal, First Appellate District, published an opinion that limits the scope of the agent’s immunity rule insofar as it applies to employees of insurers involved in investigating...more

Summary Judgment In Favor Of Broker In Malpractice Case Reversed, Where Special Relationship With Insured May Have Existed

by Carlton Fields on

In a case involving alleged broker malpractice with respect to certain underinsured business interruption losses under a commercial property insurance policy, the New York high court reversed a lower appellate court’s...more

Hawaii Court Holds an Insurance Company Can Be Exposed to Bad Faith Even if It Did Not Issue a Policy

by Cozen O'Connor on

A recent Hawaii Supreme Court decision expands bad faith claims in that state, at least with regard to Joint Underwriting Program (JUP) claims. On June 7, 2013, the court issued its opinion in the Willis v. Swain case. ---...more

Negligent Credentialing Claim Recognizable Under Massachusetts Law

A recent Massachusetts Superior Court decision recognizes a claim against a hospital for “negligent credentialing.” The court in Rabelo v. Nasif, et al found that, through the credentialing process, a hospital must “exercise...more

Weekly Law Resume - February 22, 2013: California Highway Patrol Has No Duty to Come to Aid of an Injured Party Absent a “Special...

by Low, Ball & Lynch on

Greyhound Lines, Inc. v. Department of the California Highway Patrol California Court of Appeal – Fifth District (February 14, 2013) In general, absent a “special relationship”, a person who has not created a peril...more

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