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It's alive! Dexia's $775 mln MBS case vs JPMorgan back from the dead

5/17/2013

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's whistle-blower problem: Public revelations trump privilege

5/17/2013

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 elephant in the (court)room: Amazon and the Apple e-books case

5/16/2013

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.

'Iqbal Effect' on housing, employment cases skews Republican: new study

5/16/2013

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.

N.Y. judges split on time bar for billion-dollar MBS put-back claims

5/15/2013

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.

In tossing ACA case vs Goldman, N.Y. appeals court says buyer beware

5/14/2013

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.

SAC's Steinberg claims judge-shopping but loses bid for reassignment

5/14/2013

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.

N.Y. AG rebuffed in clash with private lawyers with parallel claims

5/13/2013

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.

Splintered Federal Circuit fails in its essential mission

5/13/2013

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.

Patent trolls and multidistrict litigation: It's complicated

5/10/2013

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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