LexisNexis® Legal Newsroom
Exploring The Securities Exceptions To CAFA Jurisdiction

Greenwich Fin. Servs. Distressed Mortgage Fund 3 LLC v. Countrywide Fin. Corp. (603 F.3d 23, 2010 U.S. App. LEXIS 8088 [2d Cir. Apr. 20, 2010]) [ enhanced version available to lexis.com subscribers / unenhanced version available from lexisONE Free Case Law ] involved an important statutory exception...

2nd Circuit Reinstates Blackstone Group IPO Securities Suit

In a February 10, 2010 opinion ( here ), the Second Circuit reversed the lower court's dismissal of the securities class action lawsuit relating to The Blackstone Group's June 2007 IPO. The decision, which represents a noteworthy victory for plaintiffs, contains an extensive analysis of "materiality"...

Class Action Waiver, Arbitration Agreements, And The American Express Litigation

By Sheppard Mullin Richter & Hampton LLP Excerpt: On February 1, 2012, the Second Circuit Court of Appeals decided In re American Express Merchants' Litigation , No. 06-1871-cv, (2d Cir. Feb. 1, 2012) (" AMEX III ") [ an enhanced version of this opinion is available to lexis.com...

Ballard Spahr LLP: Single Publication Notice of Class Action Settlement Did Not Bar Subsequent Lawsuit

By Alan S. Kaplinsky and Burt M. Rublin The Second Circuit has held that a plaintiff's lawsuit against a debt collector alleging violations of the Fair Debt Collection Practices Act (FDCPA) was not barred even though she was a member of a settlement class in a prior class action against that debt...

Ballard Spahr LLP: Concepcion Mandates Individual Arbitration Even When Statutory Rights Cannot Be Vindicated, 3rd Circuit Holds

By the Consumer Financial Services Group The U.S. Supreme Court's decision in AT&T Mobility LLC v. Concepcion , 131 S. Ct. 1740 (2011) [ enhanced version available to lexis.com subscribers ], obligates courts to compel individual arbitration even where the plaintiff has proven that doing so...

Williams Mullen: Retirement Plan Plaintiffs Were Not Required To Exhaust Administrative Remedies Before Filing Their Class Action

By Mark S. Thomas and Robert W. Shaw The Second Circuit has held that a putative class of ERISA plaintiffs was not required to exhaust a plan's administrative remedies prior to filing claims for a redetermination of future retirement benefits and alleged irregularities in plan amendments. Kirkendall...

High Court Hears Arguments On Validity Of Arbitration Clause In Antitrust Action

WASHINGTON, D.C. - (Mealey's) American Express Co. (AmEx) told the U.S. Supreme Court on Feb. 27 in oral arguments that the Second Circuit U.S. Court of Appeals erred in ruling that a mandatory class action waiver clause in AmEx's standardized service contract violated the Federal Arbitration...