NEW YORK - An economist expert's damages "benchmark" model is adequate in a class action antitrust lawsuit against News Corp., News America Inc., News America Marketing FSI L.L.C. and News America Marketing In-Store Services L.L.C. (collectively, News Corp.), a New York federal judge ruled Jan. 15 (Dial Corp., et al. v. News Corp., et al., No. 13-6802, S.D. N.Y.; 2016 U.S. Dist. LEXIS 5668).
NEW YORK - Citing a plaintiff's failure to bring copyright infringement claims for more than three years after ownership of the work was first disputed, the Second Circuit U.S. Court of Appeals on Jan. 15 affirmed dismissal of the lawsuit (Tyrone Simmons v. William C. Stanberry Jr. aka Apex, et al., No. 14-3106, 2nd Cir.; 2016 U.S. App. LEXIS 650).
NEW YORK - Insurers have the burden to prove damages, under both the breach of fiduciary duty burden shifting and the wrongdoer rule, against contractors for allegedly submitted fraudulent estimated for repairs to insured home losses, a New York federal judge ruled Jan. 12 (Federal Insurance Co., et al. v. Paul H. Mertz, Jr., et al., No. 12-1597, S.D. N.Y.; 2016 U.S. Dist. LEXIS 4019).
NEW YORK - Saying that the defendants' reliance on a commentary demonstrates its relevance, a New York justice on Jan. 12 declined to quash the deposition of the author (In re: New York City Asbestos Litigation, All Weitz & Luxenberg Asbestos Cases, No. 040000/88, N.Y. Sup., New York Co.).
NEW YORK - A Second Circuit U.S. Court of Appeals panel on Jan. 11 overruled a defendant company's argument that the federal government's claim against it under the Resource Conservation and Recovery Act (RCRA) was untimely, holding that the storage of hazardous waste constitutes a continuing offense (United States of America v. Tonawanda Coke Corp., No. 14-1091-cr, 2nd Cir.; 2016 U.S. Dist. LEXIS 332).
NEW YORK - Allegations of copyright infringement against Starbucks Corp. and a co-defendant in connection with an advertising campaign for Starbucks' "Frappuccino" product were dismissed by a New York federal judge on Jan. 12 (Maya Hayuk v. Starbucks Corporation, et al., No. 15-4887, S.D. N.Y.; 2016 U.S. Dist. LEXIS 3493).
BOSTON - More than 800 Securities and Exchange Commission enforcement actions were filed in fiscal year (FY) 2015, up from 681 in FY 2010, according to a report jointly issued Jan. 12 by economic and financial consulting firm Cornerstone Research and the New York University Pollack Center for Law and Business.
WASHINGTON, D.C. - The U.S. Supreme Court on Jan. 11 declined to review a Second Circuit U.S. Court of Appeals' reversal of a federal district court ruling in a securities class action lawsuit against Bank of New York Mellon (BNYM) regarding its sale of certain residential mortgage-backed securities in violation of federal statute (Retirement Board of the Policemen's Annuity and Benefit Fund of the City of Chicago, et al. v. the Bank of New York Mellon, at trustee under various pooling and servicing agreements, No. 15-314, U.S. Sup.).
UTICA, N.Y. - A Lanham Act dispute between yogurt makers will proceed without a temporary restraining order (TRO) in place, thanks to a Jan. 11 ruling by a New York federal judge (Chobani LLC v. The Dannon Company Inc., No. 16-30, N.D. N.Y.; 2016 U.S. Dist. LEXIS 2793).
JACKSON, Miss. - A federal judge in Mississippi denied a third party's motion to remand an insurance bad faith lawsuit to state court on Jan. 7, ruling that remand is not proper because the third party improperly joined an insurance agent in the action (Michael F. Macke, et al. v. American General Life Insurance Co., formerly d/b/a The Old Line Life Insurance Co. of New York, et al., No. 15-853, S.D. Miss.; 2016 U.S. Dist. LEXIS 1707).
NEW YORK - Federal Employers Liability Act precedent requires finding that a man's release of a "laundry list" of potential claims does not bar a widow's subsequent mesothelioma action, a New York justice held in an opinion posted Jan. 8 (In re New York City Asbestos Litigation, Ann M. South, et al. v. Chevron Corp., individually and as successor by merger to Texaco Inc., et al., No. 190029/2015, N.Y. Sup., New York Co.; 2016 N.Y. Misc. LEXIS 23).
NEW YORK - Dismissal of a shareholder class action lawsuit is proper, a federal judge in New York ruled Jan. 6, because the shareholders failed to properly plead any material misrepresentations, scienter or loss causation in making their federal securities law claims (In re Sanofi Securities Litigation, No. 14-9624, S.D. N.Y.; 2016 U.S. Dist. LEXIS 1664).
NEW YORK - A policy's two-year limitations provision is ambiguous and cannot be applied to bar an insured's claim for additional living expenses arising out of water damage to his apartment, a New York federal magistrate judge said Jan. 7 in denying the insurer's motion to dismiss (Steven Hirth v. The American Insurance Co., No. 15-3245, S.D. N.Y.; 2016 U.S. Dist. LEXIS 1793).
BROOKLYN, N.Y. - The federal judge in New York overseeing the criminal case against alleged Ponzi scheme operator Martin Shkreli on Jan. 7 issued a restraining order preventing Shkreli or any of his associates from using the funds of a $45 million E*Trade individual brokerage account (United States of America v. Martin Shkreli, No. 15-637, E.D. N.Y.).
NEW YORK - Allegations that McGraw-Hill Cos. Inc. committed false advertising by making misleading comparisons between the quantity of construction project data offered by itself and a plaintiff were properly rejected on summary judgment, the Second Circuit U.S. Court of Appeals ruled Jan. 8 (Reed Construction Data Inc. v. McGraw-Hill Companies Inc., No. 14-4022, 2nd Cir.; 2016 U.S. App. LEXIS 111).
NEW YORK - A Second Circuit U.S. Court of Appeals panel on Jan. 6 affirmed a federal district court's ruling in a shareholder derivative lawsuit, ruling that shareholders have failed to plead their claim under In re Caremark Int'l Inc. Derivative Litigation as required pursuant to Delaware law (Central Laborers Pension Fund, et al. v. James Dimon, et al., No. 14-4516, 2nd Cir.; 2016 U.S. App. LEXIS 48).
NEW YORK - A shareholder filed a securities class action lawsuit in New York federal court on Jan. 4, arguing that certain officers and directors of a company misrepresented the company's financial condition in shareholder documents in violation of federal securities laws (Majed Soueidan v. Breeze-Eastern Corp., et al., No. 16-15, S.D. N.Y.).
NEW YORK - A New York justice on Jan. 4 issued an order to show cause asking for input regarding the appointment of a referee to hear claim disputes in the liquidation proceeding of an insolvent insurer (In the Matter of the Liquidation of Drivers Insurance Company, No. 452965/15, N.Y. Sup., New York Co.).
NEW YORK - A U.S. court cannot invalidate an action of a foreign sovereign with regard to a transfer of rights on grounds that the transfer would be invalid under the law of the foreign sovereign, the Second Circuit U.S. Court of Appeals ruled Jan. 5, vacating a New York federal judge's dismissal of Lanham Act claims for lack of standing (Fed. Treasury Enterprise Sojuzplodoimport v. Spirits International B.V. f/k/a Spirits International N.V., et al., Nos. 14-4721, 15-152, 2nd Cir.; 2016 U.S. App. LEXIS 40).