The U.S. Supreme Court continued its streak of handing victories to antitrust defendants today as it dealt a death blow to "price squeeze" claims. Pacific Bell Telephone Co. v. linkLine Communications, Inc., No. 07-512 (U.S. Feb. 25, 2009).
The plaintiffs provided digital subscriber line (DSL) service at retail, But, because they didn't have their
The Third Circuit today reversed dismissal of a New Jersey-only class action alleging that American Express violated the New Jersey Consumer Fraud Act by misrepresenting its "cash back" promotion for holders of the Amex Blue Card. The district court tossed the case on the ground that the card member agreement, which provided for application of Utah
Edward J. Schwartz U.S. Courthouse, San Diego, California.
The Judicial Panel on Multidistrict Litigation has set a whopping nine matters on its docket for March 26, when Their Honors will assemble in San Diego to hear arguments that sometimes last 30 seconds.
The case list includes a couple of interesting-looking matters:
MDL No. 2027
You've likely read about the Securities and Exchange Commission actions against Stanford Group, including a fraud lawsuit in the Northern District of Texas, Dallas Division, and an FBI raid at Stanford's Houston headquarters.
You may not know, though, that the SEC sought and obtained an order that enjoins all creditors and other persons from commencing
Dow Jones reports today:
Two days after authorities in Brazil raided Whirlpool Corp.'s (WHR) offices there, the U.S. Department of Justice confirmed Thursday that it is investigating possible antitrust violations in the multibillion-dollar refrigeration compressor industry, in conjunction with international authorities.
The story also discloses that Whirlpool and a competitor, Tecumseh Products, received grand jury
An expert analysis of the loss causation element of a federal securities fraud claim must link the purchasers' loss with the fraud. The expert must match the lie with an inflation in price (when the purchaser bought the security) and tie disclosure of the truth to a loss-producing drop (when the purchaser sold or as of
The Tenth Circuit today affirmed dismissal of an antitrust complaint that challenged a "destination" ski resort's sudden decision to start enforcing a restrictive covenant. The covenant entitled the resort to bar land buyers from engaging in commerce at the resort.
The Deer Valley resort — amidst the Wasatch Mountains in the Beehive State — sold patches of land in
STMicroelectronics says it won a $406 million arbitration award for "the unauthorized purchase by Credit Suisse of collateralized debt obligations and credit link notes instead of the Federally guaranteed student loan securities that had been specifically mandated by the Company for purchase."
Credit Suisse used STM's money to buy auction rate securities, apparently around the
The Bank of America (BOA) auction rate securities (ARS) multidistrict litigation (MDL) goes go to San Francisco (SFO) . In re Bank of Am. Auction Rate Securities (ARS) Marketing Litig., MDL No. 2014 (J.P.M.L. Feb. 12, 2009).
