Judge Jed Rakoff found that under a recent 2nd Circuit ruling he doesn’t have jurisdiction over the case. He wiped out his own summary judgment ruling for JPMorgan and sent Dexia’s claims back to state court.
Wal-Mart believes that a former corporate security employee who supposedly stole a trove of documents from the company is the source of its ever-growing Mexico bribery headaches. But it can’t put a lid on his revelations in a shareholder derivative suit.
The online retailer isn’t a party to the Justice Department’s antitrust case against Apple. But it figures prominently in both sides’ pretrial briefs - just not in the same role.
An analysis of 548 discrimination cases filed between 2004 and 2010 shows that Republican appointees upped dismissal rates after Ashcroft v. Iqbal while Democratic appointees did not.
On the same day, two New York State Supreme Court justices offered opposite interpretations of the statute of limitations for claims that MBS sponsors breached representations and warranties. Billions of dollars hang on who’s right.
Under a new ruling dismissing claims that Goldman Sachs fraudulently induced ACA to insure the Abacus CDO, the intermediate state appellate court says that sophisticated parties bear a heavy burden for fraud claims.
Lawyers for the hedge fund manager, who is accused of insider trading, argued that prosecutors maneuvered to get his case before a judge who has sided with the government on a key legal issue. The judge was not persuaded.
The state attorney general tried to claim the lion’s share of the credit for a $220 million global settlement between the feeder fund Ivy Asset Management and investors who lost money when Bernard Madoff’s fraud was exposed. A New York judge saw things differently.
The special appeals court was created in part to assure the uniform application of patent law and precedent. But when 10 judges sitting en banc can’t muster a true majority, the entire patent system suffers.
Conventional wisdom was that the 2011 patent reform bill would result in a wave of patent cases coming before the Judicial Panel on Multidistrict Litigation. But things haven’t gone exactly as expected.
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