Wayward Financial Institutions Facing Increasingly Stricter Punishment
Weekly Brief: Lawyers Advised To Accept New Reality
Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more
Bloomberg is reporting that Walgreens Boots is weighing a potential deal “to take the company private in what could become the largest leveraged buyout in history.” PE firms like KKR are apparently in the mix to assist in the...more
Jobs Report Friday! Here’s what to watch as you’re sorting through the numbers this morning....more
Some reaction to the HQ2 x2 news, including what a pair of new tech hubs actually means for the cities that have thrown out the red carpet to Amazon and other technology giants....more
On April 2, 2018, the US District Court for the Southern District of New York dismissed a proposed residential mortgage-backed securities (RMBS) class action against U.S. Bank, in its capacity as trustee ("U.S. Bank" or...more
The FHLB Boston’s $5.9 billion MBS case against Morgan Stanley, UBS, and Credit Suisse, is back in Massachusetts state court—a result of the Supreme Court’s Lightfoot v. Cendant Mortgage case that held that Fannie Mae’s...more
The Second Circuit recently affirmed the dismissal of an ERISA stock drop class action because, like the district court, it held that Named Plaintiff Debra Taveras lacked constitutional standing to pursue her claims. Taveras...more
On February 13, 2015, the plaintiffs in New Jersey Carpenters Health Fund, et al., v. Residential Capital, LLC, et al., No. 08-cv-8781 (S.D.N.Y.) filed an unopposed motion for certification of the class and to approve a...more
Last spring popular author Michael Lewis described the world of high-frequency stock trades and dark pools in his book, Flash Boys. Between then and now, the New York Attorney General (“NYAG”), a group of public investors,...more
On September 17, the U.S. Court of Appeals for the Third Circuit affirmed the dismissal, as time-barred, of a class action brought by RMBS certificateholders against UBS over losses related to the RMBS. Filing suit in...more
The U.S. Supreme Court recently closed its 2012 term with its usual headline-grabbing flurry of June decisions. Several of those decisions, as well as many more that received less publicity, will affect business interests. In...more
One by one global banks are being ensnared in the LIBOR prosecution net. Late last year UBS, the Swiss banking giant, entered into a massive settlement in which it agreed to pay approximately $1.5 billion in fines and...more
In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more
Decades ago, Congress passed the Federal Arbitration Act to combat the hostility courts showed towards arbitration agreements. Since that time, the Supreme Court has repeatedly pronounced the public policy in favor of the...more
Although a class action complaint may foreshadow years of litigation filled with thousands of plaintiffs and millions of dollars in potential damages and costs, there are several early motions that, if successful, may...more