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Seyfarth Shaw LLP | USA | 4 Apr 2012

Second Circuit: ERISA preempts breach of employment contract claims

On March 9, 2012, in Arditi v. Lighthouse International, No. 11-cv-423, the Second Circuit dove into what sometimes can be the murky waters of ERISA preemption, as demonstrated by the dissenting opinion.


Seyfarth Shaw LLP | USA | 19 Oct 2011

The Second Circuit adopts the “Moench presumption”, rejects stock drop claims against Citigroup

Joining at least the Third, Fifth, Sixth, and Ninth Circuits, in finding a presumption of prudence attaches when defined contribution plans offer employer stock as investment option, a divided panel of the Second Circuit today affirmed the dismissal of ERISA “stock drop” claims against Citigroup in In re: Citigroup ERISA Litigation, 09-3804 (Sept. 28, 2010).


Seyfarth Shaw LLP | USA | 16 May 2011

Supreme Court holds that intentionally misleading SPD may give rise to claim for monetary relief

Today, the Supreme Court, in a unanimous 8-0 decision (with Justice Sotomayor taking no part in the consideration of the case) vacated and remanded CIGNA Corp. v. Amara, No. 09-804, 563 U.S. ____ (2011) to the district court for further consideration.


Seyfarth Shaw LLP | USA | 9 Feb 2011

District court holds that computer forensic investigation costs satisfy "loss" requirement of Computer Fraud and Abuse Act

A Colorado federal district court recently held that the computer forensic investigator costs of investigating Computer Fraud and Abuse Act (CFAA) violations constitute "loss" under the statute.


Seyfarth Shaw LLP | USA | 10 Mar 2010

Trust for the Certificate Holders of the Merrill Lynch Mortgage Investors, Inc. Mortgage Pass-Through Certificates, Series 1999-C1 v. Love Funding Corporation (New York Court of Appeals, Oct. 15, 2009)

New York State's highest court clarified New York State's "champerty" statute and confirmed that the statute will not generally prevent buyers of distressed debt from enforcing their remedies through litigation when pursuing a legitimate claim.


Seyfarth Shaw LLP | USA | 26 Aug 2008

Two ships passing in the night: is it a maritime or non-compete contract?

A maritime attachment arising out of a contract action is appropriate where the underlying contract’s nature and character is one of maritime and not simply a non-competition agreement, the Second Circuit ruled recently in Williamson v. Recovery Ltd. Partnership, __ F.3d __, 2008 WL 3876570 (Aug. 22, 2008).

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