Law Advice

NEW YORK – An investment firm being sued by shareholders said in a New York federal court on Jan. 31 that the shareholders’ derivative suit should be dismissed because they have failed to show that the directors and officers of the firm are not independent of their decisions (Brautigam v. Blankfein, et al., No. 11-cv-04544, [...]

A federal judge has dismissed individual investors’ securities claims against Vivendi related to ordinary shares they purchased on the Paris Bourse, finding that the claims are barred by the U.S. Supreme Court’s Morrison decision. But there was a silver lining of sorts for the plaintiffs lawyers. View full post on Law.com – Newswire

NEW YORK – Noting that there was no opposition to a final arbitration award issued by a panel regarding certain asbestos-related losses, a federal judge in New York on Jan. 10 granted confirmation of the award (Century Indemnity Company v. Equitas Insurance Limited, et al., No. 11-cv-01040, S.D. N.Y.). View full post on LexisNexis® Mealey’s™ [...]

BUFFALO, NY – Saying the plaintiff’s claims of negligence and infliction of emotional distress stemming from alleged benzene injuries “sound in state law,” a federal judge dismissed the claims sua sponte for lack of jurisdiction on Jan. 9 (Shaun Paul Porter, v. Tonawanda Coke Corporation, et al., No. 10-CV-814S, W.D. N.Y.; 2012 U.S. Dist. LEXIS [...]

A New York judge has refused to consider whether the prenuptial agreement a couple signed in New York can be applied to their pending divorce in Singapore. “All of the issues related to both actions can be resolved in Singapore; the same is not true in New York,” wrote Acting Supreme Court Justice Laura E. [...]

ALBANY, NY – New York’s Martin Act does not preempt a plaintiff’s breach of fiduciary duty and gross negligence claims against an investment manager because the legislative history of the act “does not expressly mention or otherwise contemplate the elimination of common-law claims,” the New York Court of Appeals ruled Dec. 20 (Assured Guaranty (UK) [...]

NEW YORK – A disgorgement payment to the Securities and Exchange Commission in settlement of allegations of illegal mutual fund trading practices does not constitute a covered loss under primary and excess professional liability insurance policies, a New York appeals panel ruled Dec. 13, reversing a lower court’s ruling denying the insurers’ motion to dismiss [...]

Until this week, only two judges had limited standing for mortgage-backed securities claims to plaintiffs who purchased certificates in specific MBS tranches. Now, in a big win for JPMorgan, tranche-level standing has gained a foothold in the 2nd Circuit. View full post on Law.com – Newswire

BROOKLYN, NY – Allegations by a plaintiff that a direct competitor in the field of freight transport used an identical trademark in an identical geographic area were rejected Dec. 9 by a New York federal judge (A.W.L.I. Group Inc. v. Amber Freight Shipping Lines, No. 10-5464, E.D. N.Y.; 2011 U.S. Dist. LEXIS 142290). View full [...]

NEW YORK – The attorney general of the State of New York on Nov. 30 appealed a New York County Supreme Court justice’s Oct. 31 ruling that he failed to plead any of his state law claims against Charles Schwab & Co. Inc. for its allegedly fraudulent marketing and sale of auction-rate securities (The People [...]