Florida

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Federal Judge Reconsiders Aiding-And-Abetting Ponzi Claims Against Bank
Posted on 14 Aug 2012 by Mealeys

WEST PALM BEACH, Fla. - In light of a recent 11th Circuit U.S. Court of Appeals opinion, a federal judge in Florida on Aug. 10 granted Wells Fargo Bank NA's motion to reconsider an order denying its motion to dismiss aiding and abetting claims related... Read More

Directors, Officers Say Business Judgment Rule Protects Them From Suit
Posted on 2 Nov 2012 by Mealeys

FORT LAUDERDALE, Fla. - A company's directors and officers argued in a Florida federal court on Oct. 31 that shareholders have failed to show that the directors and officers have made any public statements that are violations of their fiduciary duty... Read More

Judge: Lead Plaintiffs Failed To Plead Federal Securities Law Claims
Posted on 24 Apr 2013 by Mealeys

MIAMI - Lead plaintiffs in a securities class action lawsuit against a cruise line and several of its executive officers have failed to plead any of their federal securities law claims relating to the defendants' alleged issuance of false and misleading... Read More

Guarantor Must Pay Back Company's Loan, Federal Judge Rules
Posted on 30 Apr 2013 by Mealeys

WEST PALM BEACH, Fla. - A federal judge in Florida on April 29 granted summary judgment to Branch Banking and Trust Co. (BB&T), which sued to recover on loans it acquired from a failed bank, finding that a guarantor "guaranteed that he would... Read More

Home Builder Leonard Albanese Files For Chapter 11, Cites Debts More Than $46M
Posted on 11 Jun 2012 by Mealeys

PALM BEACH, Fla. - Luxury home builder Leonard Albanese on June 8 filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida, listing more than $46.24 million in liabilities and $4.34 million in assets (In Re: Leonard... Read More

Shareholder Says Presuit Demand Upon Company's Board Would Have Been Futile
Posted on 4 Dec 2012 by Mealeys

FORT LAUDERDALE, Fla. - A shareholder told a Florida federal court on Nov. 30 that presuit demand upon a company's board of directors would have been futile because a majority of the board is not disinterested because they face a substantial likelihood... Read More

Federal Judge Awards Default Judgment To Consumer In Debt-Collection Action
Posted on 23 May 2013 by Mealeys

TAMPA, Fla. - A federal judge in Florida on May 21 entered a $2,000 default judgment in favor of a consumer, finding that she sufficiently alleged violations of the Fair Debt Collection Practices Act (FDCPA) and the Florida Consumer Collection Practices... Read More

Panel Rules That Claims Must Be Arbitrated In Madoff Feeder Fund Suit
Posted on 4 May 2012 by Mealeys

WEST PALM BEACH, Fla. - Two remaining claims in a negligent misrepresentation lawsuit against auditing firm KPMG LLP and others are derivative in nature and must be arbitrated pursuant to an arbitration clause, a Florida appeals panel ruled May 2 (KPMG... Read More

Judge Allows Majority Of Defenses In Mortgage Debt Collection Suit
Posted on 17 Oct 2012 by Mealeys

TAMPA, Fla. - A federal judge in Florida on Oct. 15 granted in part and denied in part a consumer's motion to strike 14 defenses that were part of a debt collector's answer to the consumer's complaint that alleges that the debt collector's... Read More

Federal Judge Denies Dismissal Of Claim From Loan Participation Action
Posted on 20 May 2013 by Mealeys

FORT MYERS, Fla. - A federal judge in Florida on May 16 declined the request to dismiss a breach of the implied covenant of good faith and fair dealing claim from a suit arising from a loan participation agreement, disagreeing with the defendant bank's... Read More

Consumer Failed To State Claim For Relief In Debt Collection Suit, Judge Rules
Posted on 20 Sep 2012 by Mealeys

MIAMI - Dismissal of a consumer's Fair Debt Collection Practices Act (FDCPA) 15 U.S.C.S. § 1692e, lawsuit against a law firm and one of its attorneys is proper because the consumer has failed to state a claim for relief, a federal judge in Florida... Read More

Directors, Officers: Shareholders Failed To Show Board Was Biased Over Demand
Posted on 23 May 2012 by Mealeys

TAMPA, Fla. - Claiming that plaintiffs in a shareholder derivative lawsuit failed to show that a majority of the members of a board of directors are not independent, certain directors and officers of a medical instruments company said in a Florida federal... Read More

Federal Judge Denies Ponzi Investors' Setoff Request
Posted on 8 Mar 2013 by Mealeys

TAMPA, Fla. - A federal judge in Florida on March 7 denied the request by defrauded investors in a Ponzi scheme for a setoff of funds, agreeing instead with the receiver for hedge funds used to perpetuate the scheme that the receiver is entitled to the... Read More

Federal Judge: Bank Properly Removed Credit Card Action
Posted on 8 Apr 2013 by Mealeys

FORT MYERS, Fla. - A federal judge in Florida on March 4 denied a consumer"s motion to remand her suit arising from FIA Card Services N.A. (FIA) and Bank of America N.A. (BoA) billing her for her late husband"s credit card account, finding that... Read More

Mealey's Financial Services Bulletin: Law Firm will Pay $25 Million to Settle Nadel Ponzi Scheme Charges
Posted on 30 Aug 2012 by Mealeys

TAMPA, Fla. - A federal judge in Florida yesterday approved Holland & Knight LLP's agreement to pay $25 million to settle charges brought by the Securities and Exchange Commission that it helped hedge fund manager Arthur Nadel conduct a $168 million... Read More

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