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.
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).
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.
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.
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.
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).