District Court Rejects SEC Argument That General Partnership Interests in...
The Securities and Exchange Commission brought an enforcement action against defendant Geodymanics, Inc. and others alleging fraud in connection with four oil and gas exploration and drilling ventures,...
View ArticleDistrict Court Dismisses Shareholder Class Action Suit for Securities Fraud
The US District Court for the Eastern District of Washington recently granted defendants’ motion to dismiss plaintiffs’ class action complaint for failure to satisfy the heightened pleading...
View ArticleDistrict Court Considers Whether Officer May Be Individually Liable for...
The US District Court for the Southern District of Indiana recently held that a lender adequately alleged facts sufficient to hold a corporate executive personally liable for the repayment of a...
View ArticleBattle of Experts On Damages Saves Securities Fraud Claims
CThe US District Court for the Southern District of California last week denied summary judgment to securities fraud defendants based on the plaintiffs’ expert testimony regarding damages. Plaintiffs,...
View ArticleDistrict Court Rules That Individual LLC Member is Third-Party Beneficiary...
The US District Court for the Southern District of Florida confirmed that third-party beneficiaries of a contract containing an arbitration clause may be compelled to arbitrate their claims...
View ArticleHead of SEC Enforcement Division’s Asset Management Unit Addresses Hedge Fund...
Bruce Karpati, Chief of the Securities Exchange Commission Enforcement Division’s Asset Management Unit (AMU), spoke before the Regulatory Compliance Association earlier this week to address the AMU’s...
View ArticleDelaware Supreme Court Refines Standard for Missed Pre-Trial Deadlines
The Delaware Supreme Court recently announced a new standard refining the rules that govern litigants’ requests for extensions. Since 2010, the “Drejka analysis” provided a six-factor test to apply...
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Life Sciences Company Obtains Dismissal of Shareholder Class Action
The US District Court for the Middle District of Tennessee recently granted BioMimetic Therapeutics Inc.’s motion to dismiss the class action against it, and denied plaintiffs leave to amend their...
View ArticleDelaware Court of Chancery Analyzes Damages Claims in Failed Asset Sale
The Delaware Court of Chancery recently denied, with one exception, cross-motions for summary judgment in an action to determine damages arising from a failed asset purchase agreement. Plaintiff Henkel...
View ArticleSeventh Circuit Affirms Dismissal of Former Bank Executive’s APA and FIRREA...
The US Court of Appeals for the Seventh Circuit recently affirmed an Illinois district court’s dismissal of claims brought by the former chairman and controlling stockholder of an Illinois-state...
View ArticleDOJ Narrows "Carve Out" Practice Regarding Corporate Plea Agreements
Assistant Attorney General Bill Baer in charge of the Department of Justice’s Antitrust Division recently announced changes to the division’s “carve-out practice” regarding corporate plea agreements....
View ArticleDelaware Supreme Court Upholds Collateral Estoppel in Multiforum Litigation
The Delaware Supreme Court recently held that the dismissal of a shareholder derivative suit by a California federal court had a preclusive effect on a substantially similar suit pending in the...
View ArticleDelaware Chancery Court Finds Settlement Agreement Enforceable Despite...
The Delaware Court of Chancery recently ruled that a settlement agreement does not have to be fully executed by all parties to be enforceable. The court found in favor of plaintiff Frank Whittington...
View ArticleWhistleblower’s Claims Against Former Employer Survive Summary Judgment
In a case involving “several questions of first impression,” the US District Court for the Southern District of New York denied summary judgment for all but one of the defendants in a case alleging...
View ArticleMassachusetts District Court Affirms Scienter Requirement of False Statement...
The District Court for the District of Massachusetts recently held that in order to obtain a conviction for making a false statement to a government agent, the government must prove that the defendant...
View ArticleNew York District Court Dismisses Complaint Alleging Foreign Antitrust Activity
The US District Court for the Southern District of New York recently held that alleged anticompetitive conduct by Chinese technology manufacturers taking place entirely within China did not create...
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Second Circuit Affirms Dismissal of Madoff Trustee’s Common Law Claims
The US Court of Appeals for the Second Circuit affirmed the district court’s dismissal of common law claims brought by Irving H. Picard (Trustee), trustee for Bernard L. Madoff Investment Securities...
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Sixth Circuit Affirms Decision to Enforce Arbitration Provision in Retiree...
The US Court of Appeals for the Sixth Circuit recently affirmed a district court’s decision to grant defendant-appellee TRW Vehicle Safety Systems, Inc.’s (TRW) motion to compel arbitration, finding...
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Admissions of Wrongdoing in SEC Settlement Lead to Ban from Managing Any New...
The New York State Department of Financial Services (DFS) recently announced that hedge fund advisor Philip Falcone (Falcone), and all employees of his firm Harbinger Capital Partners (Harbinger...
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Second Circuit Affirms Canadian Mining Company’s Victory in Securities Fraud...
A three-judge panel of the US Court of Appeals for the Second Circuit recently upheld the dismissal of a multidistrict class action against Canadian mining company Agnico-Eagle Mines Limited (Agnico)...
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