Snappy reclines. The Empire State Building looms in the mid-distance. Bitey consults his notes. He clears his throat.
Bitey: The U.S. Supreme Court's summer break started last week, Snaps, and the time has come for us to look at the . . . uh . . . results of the 2012-13 Term for those commercial cases
If you have a claim under the Securities Act of 1933, you need to act promptly — within one year after you knew or should have known you had a claim and within three years "after the security was bona fide offered to the public" or "more than three years after the sale of the
Wall Street wants freedom, lots and lots of freedom, to do again what it did in the years leading up to the near melt-down it went through in 2008. It desires liberty to buy and sell swaps and other exotic (derivative) contracts as it sees fit.
Two of Wall Street's proxies, the Investment Company Institute and the
The Sixth Circuit split with the Second and Ninth Circuits today on what a plaintiff must plead under section 11 of the Securities Act of 1933 in cases that involve opinions, views, and other "soft" info.
The panel looked at a claim that Omnicare violated Section 11 by publicly stating its judgment that its drug-care
Standing nearby when what our banker friends call a liquidity event takes place can result in an influx of wealth. Who doesn't want that.
The opposite feeling takes hold for what we'll refer to as liability events. These usually involve the disappearance of money that belongs to Other People. Bankers like to distance themselves in those instances.
Sometimes
The U.S. Supreme Court today upheld a battery claim against the federal government for botching cataract surgery on a U.S. Navy veteran.
The 9-0 Court ruled that the Gonzalez Act limited the ban in the Federal Tort Claims Act on claims for certain intentional (and intentional-ish) torts such that it wouldn't bar claims for "malpractice committed by
The legal landscape for class actions has gotten harder for plaintiffs to cross in the last decade or so. Today it got no worse. And plaintiffs and their counsel rejoice at that.
In Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, No. 11-1085 (U.S. Feb. 27, 2013), the Court ruled 6-3 that a
Um.
Settling a class action case means you don't have to try it. But does making peace also mean you don't have to turn all the square corners of the class action rule, the one we call 23?
It does. Kind of. At least to the extent it avoids trial problems. The kind that could
The Second Circuit today came out with rulings in two big commercial cases.
The first involved a "collateralized debt obligation", the second a cartel that the plaintiffs alleged fixed prices for "publication paper". Plaintiffs won both times.
The CDO case stemmed from a $60 million purchase in December 2006 by a German bank, Bayerische
Say you bought a share of Enron stock before it belly-flopped into chapter 11. You paid too much for it, right? $90 or so. And when the belly-flopping took place, the market price for your share in the Greatest Company Ever fell to, oh, about $1. You lost around $89 bucks, right?
Maybe. In your