News & Analysis as of

Summary Judgment Enforcement Actions

Foley & Lardner LLP

First Circuit’s Reversal of Summary Judgment Clarifies Materiality Standard for Advisory Conflicts

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A recent ruling may raise the bar for the Securities and Exchange Commission (SEC) in charging registered investment advisers for omissions of potential conflicts and seeking disgorgement, giving the defense bar additional...more

King & Spalding

New Federal Court Decision Holds Proposition 65 Warnings Are Not Required Where There Was No Scientific Consensus on the...

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In an important decision under California’s Proposition 65, a federal court recently ruled that businesses cannot be required to provide a product warning under Proposition 65 where there is no scientific consensus on whether...more

Troutman Pepper Locke

First Circuit Questions Materiality in SEC's Case Against Commonwealth Equity Services

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On April 1, the U.S. Court of Appeals for the First Circuit vacated a summary judgment ruling in favor of the Securities and Exchange Commission (SEC) against Commonwealth Equity Services, LLC, also known as Commonwealth...more

Ropes & Gray LLP

First Circuit Vacates Summary Judgment Award and $93 Million Order in Revenue Sharing Case

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On April 1, 2025, the United States Court of Appeals for the First Circuit overturned a $93 million judgment issued against Commonwealth Financial Network (“Commonwealth”) nearly one year ago in a case by the Securities and...more

Hogan Lovells

Recent New York decision highlights that courts can recognize a foreign judgment even without personal jurisdiction

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In Cargill Financial Services Int’l, Inc. v. Barshchovskiy (S.D.N.Y. Feb. 18, 2025), the U.S. District Court for the Southern District of New York clarified that recognition of a foreign monetary judgment by a New York court...more

McGlinchey Stafford

District Court Holds Debt Verification In Response to Consumer’s Letter Refusing to Pay, But Disputing the Debt, Is Not a FDCPA...

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A United States District Judge for the U.S. District Court for the District of Maryland rejected a plaintiff’s arguments that a debt collector’s verification of a debt in response to a letter refusing to pay, but disputing...more

Lathrop GPM

New Jersey Federal Court Grants Summary Judgment Against Hotel Franchise Agreement Guarantor Enforcing Liquidated Damages...

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A federal court in New Jersey recently granted summary judgment against the guarantor of a hotel franchise agreement, requiring him to pay contractual post-termination damages. Ramada Worldwide Inc. v. Keys Hosp., LLC, 2024...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Sixth Circuit Rules Jury Must Decide if FLSA Violations Were Willful

On December 23, 2024, the U.S. Court of Appeals for the Sixth Circuit ruled in Su v. KDE Equine, LLC that whether an employer willfully violated the Fair Labor Standards Act (FLSA) is a fact question best left to the jury. ...more

Foley Hoag LLP - White Collar Law &...

District Court Grants Summary Judgment Win to False Claims Act Defendants, Adopting But-For Causation Standard for Claims Based on...

Courts continue to reject aggressive Anti-Kickback Statute (“AKS”) allegations. Most recently, on January 6, 2025, Judge Patti Saris of the U.S. District Court for the District of Massachusetts dismissed a qui tam action...more

Troutman Pepper Locke

Massachusetts Federal Court Orders Key Credit Repair to Pay $50M for Misleading Claims and Advance Fees

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The U.S. District Court for the District of Massachusetts recently denied a credit repair organization’s motion for partial summary judgment and granted the Consumer Financial Protection Bureau (CFPB or Bureau) and the...more

BakerHostetler

Ripple Case Reaches Final Judgment as Digital Assets Law Continues to Evolve

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On Aug. 7, the U.S. District Court for the Southern District of New York issued its judgment in U.S. Securities and Exchange Commission v. Ripple Labs, Inc., marking the end of district court- level proceedings in the highly...more

Troutman Pepper Locke

Massachusetts AG Settles $3.5M COVID-19 Delivery Fee Case With Grubhub

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On January 12, Massachusetts Attorney General (AG) Andrea Joy Campbell announced a settlement with Grubhub Holdings Inc. and Grubhub, Inc., (Grubhub) for repeatedly violating a statutory limit on the fees that third-party...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - December 2023 Updates

On the one hand, the year ended where it began. The legislation on stabelecoins and market structure that would provide a regulatory framework for digital assets has still not been enacted into law. And Securities and...more

ArentFox Schiff

Compliance Officers Beware: the SEC is Looking to Expand the Reach of Insider Trading

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On November 20, 2023, the Northern District of California denied summary judgment for the defendant in SEC v. Panuwat, an enforcement action being brought under a novel theory of insider trading law that is being referred to...more

Ballard Spahr LLP

FTC targets deceptive practices in merchant cash advance case

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The Federal Trade Commission recently prevailed on summary judgment in a case against Jonathan Braun and his company RCG Advances, LLC. The product at issue, merchant cash advances, generally provide small businesses with...more

Troutman Pepper Locke

SEC Dismisses Ripple Labs Executives After Losing Bid for Interlocutory Appeal

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On October 19, the Securities and Exchange Commission (SEC) dismissed its claims against Ripple Labs, Inc. (Ripple) executives Bradley Garlinghouse and Christian Larsen for allegedly aiding and abetting Ripple’s violations of...more

Fenwick & West LLP

SEC v. Ripple Labs: Securities Law Analysis Under Howey Applied On A Transaction-By-Transaction Basis

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It’s the Transaction, Not the Token. Issuers cannot offer or sell securities without registering them with the SEC under Section 5 of the Securities Act of 1933 or finding a valid exemption from registration. XRP is the...more

Polsinelli

Shhhh! – SEC Wins Summary Judgment Over Library

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While the blockchain crypto community is processing the latest round of “crypto contagion,” potentially lost in the busy news week was a significant legal development regarding what digital assets qualify as securities under...more

Sheppard Mullin Richter & Hampton LLP

Securities and Exchange Commission V. LBRY; Is Your Crypto Project Illegal?

While the crypto community is rightfully focused on the Ripple case to see how the SEC will fare in court on enforcements alleging cryptocurrency offerings are a security, a lesser-known case may provide clarity first. The...more

Bradley Arant Boult Cummings LLP

Defense Contractor Denied FCA Summary Judgment in First Test of DOJ’s New Civil Cyber-Fraud Initiative

On February 1, 2022, the United States District Court for the Eastern District of California ruled that a False Claims Act (FCA) case against defense contractor Aerojet Rocketdyne Holdings and Aerojet Rockdyne Inc....more

Conn Kavanaugh

Failure to Register With FINRA as a Broker-Dealer Can Cost Mergers and Acquisitions Brokers Dearly

Conn Kavanaugh on

Conn Kavanaugh attorneys Andrew R. Dennington and Julie M. Muller recently secured a significant win for their client before the U.S. First Circuit Court of Appeals. The First Circuit affirmed that summary judgment properly...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - October 2020

Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more

BCLP

SEC Puts SAFT Issuers On Notice (Again)

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On September 30, 2020, Judge Alvin Hellerstein, of the Southern District of New York (“SDNY”) granted summary judgment to the Securities and Exchange Commission (“SEC”) in its enforcement action against Kik Interactive Inc....more

Bradley Arant Boult Cummings LLP

Notice Your Lien or Kiss it Goodbye

Like many states, Minnesota requires subcontractors and suppliers to send pre-lien notices to owners to perfect mechanic’s lien rights. Failure to comply with the pre-lien notice statute can prove fatal to a lien enforcement...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - April 2020

This issue includes summaries and associated court opinions of selected cases principally decided between October 2019 and January 2020. ...more

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