False opinions
Giving a knowingly false opinion about a public company can expose the company and its insiders to liability for securities fraud under federal law.
But what about an opinion that they truly believe but for which they have a flimsy basis?
The Supreme Court held today that the lack of rigor may indeed
In Roach v. T.L. Cannon Corp., No. 13-3070-cv (2d Cir. Feb. 10, 2015), the Second Circuit gave a narrow reading of the Supreme Court's ruling on class certification in Comcast Corp. v. Behrend, 133 S. Ct. 1426 (2013).*
The outcome does not surprise Blawgletter, who had the honor of arguing Comcast Corp.
Unanimous Court orders review of key district court ruling
The Second Circuit made a mistake when it refused to hear an appeal, the Supreme Court held 9-0 today in Gelboim v. Bank of Am. Corp., No. 13-1174 (U.S. Jan. 21, 2015); see Supreme Court Takes LIBOR Case, Blawgletter®, July 1, 2014.
The Court's ruling will
Dear Blawgletterati:
A rebuke
Drop dead, the Seventh Circuit on November 26 told U.S. firms that want to collect treble damages under the Sherman Act for fixing prices on their foreign subs' purchases overseas.
Either have your subs buy the stuff in the U.S., the panel ruled, or purchase the goods for import into the
Good faith and fair dealing
New York law "implies" a duty in all contracts — a duty to perform promises in good faith.*
Does that mean a party must adjust a contractual benchmark rate if it knows something has distorted the benchmark?
Yes, the Second Circuit held in Security Plans, Inc. v. CUNA
Equal pay for equal work
The Equal Pay Act of 1963, 29 U.S.C. 206(d), mandates equal pay for "equal work".
But what does "equal work" mean? A ruling by the Second Circuit focuses on the "content" of the "work" and rejects titles and labels as the basis for comparing male and female workers.
"Actual
Big damages . . . and a big win for class actions
A Tenth Circuit panel of judges has upheld a $1.2 billion verdict and judgment against Dow Chemical for its role in a price-fixing conspiracy that involved urethane chemical products. Dow Chemical Co. v. Seegott Holdings, Inc., No. 13-3215 (10th Cir. Sept. 29, 2014)
A way out of arbitration?
A new Ninth Circuit decision points to a possible way to avoid arbitration clauses in the take-it-or-leave-it "adhesion" contracts that electronic retailers post on their websites.
Online vendors want you to accept their terms of service. That way, you will bind yourself to a form contract that mainly favors the
You have a special treat today.
Hollis Salzman and Meegan F. Hollywood at Robins, Kaplan, Miller & Ciresi L.L.P. in New York have written a timely Guest Post on an important and exotic antitrust topic — monopsony.
Ms. Salzman serves as Co-Chair of Robins Kaplan's Antitrust and Trade Regulation Group and as co-lead counsel in blockbuster antitrust