Ninth Circuit holds that federal securities laws preempt California Labor Code's ban on forced patronage at brokerage firms *

USA - May 9 2013
In McDaniel v. Wells Fargo Investments, LLC, Nos. 11-17017, 11-55859, 11-55943, 11-55958, 2013 WL 1405949 (9th Cir. Apr. 9, 2013), the United States…

Co-authors: Jennifer G. Redmond, Bram Hanono.

---

United States Supreme Court decides question of corporate liability under Alien Tort Statute on broader grounds *

USA - April 25 2013
In Kiobel v. Royal Dutch Petroleum Co., No. 10-1491, 2013 WL 1628935 (U.S. Apr. 17, 2013), the Supreme Court of the United States addressed the…

Co-authors: Robin A. Achen .

---

Delaware Supreme Court affirms preclusive effect of non-Delaware dismissals and rejects irrebuttable presumption that a derivative plaintiff who fails to conduct a Section 220 inspection is an inadequate representative *

USA - April 23 2013
In Pyott v. Louisiana Municipal Police Employees' Retirement System, No. 380, 2012, 2013 WL 1364695 (Del. Apr. 4, 2013), the Delaware Supreme Court…

Co-authors: John M. Landry .

---

Seventh Circuit affirms dismissal of securities fraud class action, remanding question of sanctions against plaintiffs' counsel *

USA - April 9 2013
In City of Livonia Employee Retirement System v. Boeing Co., Nos. 12-1899, 12-2009 2013 WL 1197791 (7th Cir. Mar. 26, 2013), the United States Court…

Co-authors: Valentina Shenderovich, Daniel G. Rosenberg .

---

Second Circuit reverses class certification order, holding that a clearing broker's alleged knowledge of fraud against shareholders, absence direct involvement, is insufficient to create a duty of disclosure *

USA - March 27 2013
In Levitt v. J.P. Morgan Securities, Inc., No. 10-4596, 2013 WL 1007678 (2d Cir. Mar. 15, 2013), the United States Court of Appeals for the Second…

Co-authors: Jonathan Moss, John M. Landry .

---