LexisNexis® Legal Newsroom
Mealey's Securities/D&O Liability - Panel Partially Vacates District Court's Scienter Rulings In Securities Suit

NEW YORK - A Second Circuit U.S. Court of Appeals panel on Aug. 28 affirmed in part, vacated in part and remanded a pair of New York federal court rulings in a securities class action lawsuit, ruling that the district court erred in determining that the lead plaintiff failed to properly plead scienter against a company and its former CEO (Acticon AG v. China North East Petroleum Holdings Ltd., et al., No. 15-172, 2nd Cir.; 2015 U.S. App. LEXIS 15187).

Mealey's Toxic Tort/Environmental - Justice Refuses Stay Of New York City Litigation During Asbestos CMO Revamp

NEW YORK - New York's asbestos case management order requires a top-to-bottom re-evaluation but is not so flawed that litigation must be stayed during the process, a New York justice held in an opinion posted Aug. 31 (In re: New York City Asbestos Litigation, All Asbestos Cases., No. 40000/88, N.Y. Sup., New York Co.).

Mealey's Litigation Procedure - 2nd Circuit Panel Orders Lower Court To Choose Reinsurance Arbitration Umpire

NEW YORK - In an unpublished opinion issued Aug. 26, the Second Circuit U.S. Court of Appeals vacated a lower court decision regarding jurisdiction over a reinsurance arbitration umpire dispute and remanded the case with instructions that the lower court appoint an umpire (Odyssey Reinsurance Company v. Certain Underwriters at Lloyd's London Syndicate 53, et al., No. 14-2840-cv, 2nd Cir.; 2015 U.S. App. LEXIS 15052).

Mealey's Toxic Tort/Environmental - Judge: Defendant Company Is Only A Liable Party Under CERCLA

NEW YORK - A federal judge in New York on Aug. 28 granted in part plaintiffs' motion for judgment on the pleadings, finding only that Consolidated Edison Company of New York Inc. is a liable party under Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Section 107 (HLP Properties LLC, et al. v. Consolidated Edison Company of New York Inc., No. 14 Civ. 1383, S.D. N.Y.; 2015 U.S. Dist. LEXIS 114779).

Mealey's PI/Product Liability - Amarin Pharma, FDA Talk Settlement Of Off-Label Lawsuit After Injunction

NEW YORK - Amarin Pharma Inc. and the Food and Drug Administration are exploring the possibility of settling Amarin's off-label speech lawsuit, counsel for the drug company told a New York federal judge on Aug. 28 (Amarin Pharma, Inc., v. United States Food & Drug Administration, et al., No. 15-3588, S.D. N.Y.).

Mealey's Insurance - N.Y. Federal Judge Refuses To Reconsider Judgment Against Insurer In Environmental Suit

NEW YORK - A New York federal judge overseeing Olin Corp.'s environmental coverage litigation on Aug. 28 denied OneBeacon Insurance Co.'s motion to reconsider a judgment entered against it and reiterated that the insurer is responsible for approximately $5.4 million, which includes prejudgment interest, on the past costs associated with environmental contamination at one of the insured sites (Olin Corp. v. Insurance Company of North America, et al., No. 84-1968, S.D. N.Y.; 2015 U.S. Dist. LEXIS 114775).

Mealey's Insurance - 2nd Circuit Panel Orders Lower Court To Choose Reinsurance Arbitration Umpire

NEW YORK - In an unpublished opinion issued Aug. 26, the Second Circuit U.S. Court of Appeals vacated a lower court decision regarding jurisdiction over a reinsurance arbitration umpire dispute and remanded the case with instructions that the lower court appoint an umpire (Odyssey Reinsurance Company v. Certain Underwriters at Lloyd's London Syndicate 53, et al., No. 14-2840-cv, 2nd Cir.; 2015 U.S. App. LEXIS 15052).

Mealey's Labor & Employment - Former Employee Relinquished Right To File Suit Against Employer, 2nd Circuit Says

NEW YORK - A suit filed by a former employee of Xerox Corp. was properly dismissed because the employee signed an agreement relinquishing all claims, including any related to his distribution or calculation of pension benefits, the Second Circuit U.S. Court of Appeals said Aug. 26 (Herbert E. Anderson v. Xerox Corp. et al., No. 14-2849, 2nd Cir.; 2015 U.S. App. LEXIS 15048).

Mealey's IP/Tech - Judge Finds 2 Features Of Media-Monitoring Service Infringing, Not Fair Use

NEW YORK - A New York federal judge on Aug. 25 found that two disputed functions of a Web-based media-monitoring service did not constitute fair use and, therefore, posed copyright infringement risks to media outlets, granting in part a motion for summary judgment by Fox News Network LLC (Fox News Network LLC v. TVEyes Inc., No. 1:13-cv-05315, S.D. N.Y.; 2015 U.S. Dist. LEXIS 112836).

Mealey's Litigation Procedure - 2nd Circuit Panel Affirms Dismissal In Securities Class Action

NEW YORK - A federal district court did not err in dismissing a securities class action complaint because it properly determined that the claims failed under the Second Circuit U.S. Court of Appeals' three-part test for determining forum non conveniens, a Second Circuit panel ruled Aug. 25 (Rentokil-Initial Pension Scheme v. Citigroup Inc., et al., Nos. 14-2545 and 14-2719, 2nd Cir.; 2015 U.S. App. LEXIS 14925).

Mealey's Toxic Tort/Environmental - Judge: BP, Shell Defendants Not Included In Order Sending MTBE Case To California

NEW YORK - The federal judge in New York presiding over the methyl tertiary butyl ether (MTBE) products litigation on Aug. 26 denied a motion filed by the Orange County Water District (OCWD) that sought to include two companies in the remand order sending the case to California federal court (In Re: Methyl Tertiary Butyl Ether Products Liability Litigation, No. 00-1898, MDL 1358, Orange County Water District v. Unocal Corporation, No. 04-4968, S.D. N.Y.).

Mealey's Labor & Employment - 2nd Circuit Panel Affirms That Plan Participant's Suit Is Time-Barred

NEW YORK - The Second Circuit U.S. Court of Appeals on Aug. 25 affirmed that a retirement plan participant's breach of fiduciary duty suit is time-barred under the applicable three-year statute of limitations and said that the evidence shows the participant had actual knowledge of the alleged breach more than three years before filing suit (Ramnand Ramnaraine v. Merrill Lynch & Co. Inc. et al., No. 14-3562, 2nd Cir.; 2015 U.S. App. LEXIS 14929).

Mealey's Securities/D&O Liability - 2nd Circuit Panel Affirms Dismissal In Securities Class Action

NEW YORK - A federal district court did not err in dismissing a securities class action complaint because it properly determined that the claims failed under the Second Circuit U.S. Court of Appeals' three-part test for determining forum non conveniens, a Second Circuit panel ruled Aug. 25 (Rentokil-Initial Pension Scheme v. Citigroup Inc., et al., Nos. 14-2545 and 14-2719, 2nd Cir.; 2015 U.S. App. LEXIS 14925).

Mealey's Labor & Employment - 2nd Circuit Partly Reverses Holdings In Denial Of Benefits Case

NEW YORK - A New York federal judge's determination that the New York State Psychiatric Association (NYSPA) lacks associational standing to sue a claims administrator for violations of the Employment Retirement Income Security Act was reversed by the Second Circuit U.S. Court of Appeals on Aug. 20 (New York State Psychiatric Association Inc., et al. v. UnitedHealth Group, et al., No. 14-20, 2nd Cir.; 2015 U.S. App. LEXIS 14641).

Mealey's IP/Tech - 2nd Circuit Affirms Bench Trial Outcome In Trademark Infringement Case

NEW YORK - Assertions by a trademark infringement defendant that a New York federal judge improperly found a likelihood of confusion merit "little discussion," the Second Circuit U.S. Court of Appeals ruled Aug. 24 (BPP Wealth Inc., et al. v. Weiser Capital Management LLC, et al., Nos. 14-1848, -1849, 2nd Cir.; 2015 U.S. App. LEXIS 14814).

Mealey's PI/Product Liability - OxyContin Maker Pays New York $75,000, Tightens Marketing Of It Opioid Drugs

NEW YORK - OxyContin maker Purdue Pharma will pay New York state a $75,000 penalty, tighten promotion of its opioid drugs and disclose financial relationships with a pain management website under an "assurance of discontinuance," the state Attorney General's Office announced Aug. 20 (In the Matter of Purdue Pharma L.P., Assurance No. 15-151, N.Y. A.G.).

Mealey's Banking & Finance - Federal Judge Denies Expert Testimony In Residential Mortgage Securities Dispute

NEW YORK - An expert cannot testify on the proper amount of damages due to Bank of New York Mellon (BoNY) based on agreements concerning residential mortgage-backed securities, a New York federal judge ruled Aug. 18, finding that the agreements provide a formula for recovery before and after liquidation of a loan (The Bank of New York Mellon, solely as Trustee for GE-WMC Mortgage Securities Trust 2006-1 v. WMC Mortgage, LLC and GE Mortgage Holding, LLC, No. 12-7096, S.D. N.Y.; 2015 U.S. Dist. LEXIS 108320).

Mealey's Labor & Employment - 2nd Circuit: Major League Baseball FanFest Volunteers Are Not Owed Wages

NEW YORK - Individuals who volunteered at Major League Baseball's FanFest are exempt from receiving wages under the Fair Labor Standards Act (FLSA), the Second Circuit U.S. Court of Appeals ruled Aug. 14 (John Chen, et al. v. Major League Baseball Properties, Inc., et al., No. 14-1315, 2nd Cir.; 2015 U.S. App. LEXIS 14275).

Mealey's PI/Product Liability - Cross-Claims Keep Asbestos Defendant In New York Action

NEW YORK - The absence of evidence against a defendant does not free it from an asbestos case where potential cross claims exist, a New York justice held in an opinion posted Aug. 18 (In re New York City Asbestos Litigation Michael Koulermos and Marian Koulermos v. A.O. Smith Water Products, et al., No. 190406/2014, N.Y. Sup., New York Co.).

Mealey's Toxic Tort/Environmental - Cross-Claims Keep Asbestos Defendant In New York Action

NEW YORK - The absence of evidence against a defendant does not free it from an asbestos case where potential cross-claims exist, a New York justice held in an opinion posted Aug. 18 (In re New York City Asbestos Litigation Michael Koulermos and Marian Koulermos v. A.O. Smith Water Products, et al., No. 190406/2014, N.Y. Sup., New York Co.).

Mealey's Litigation Procedure - Federal Judge Denies Expert Testimony In Residential Mortgage Securities Dispute

NEW YORK - An expert cannot testify on the proper amount of damages due to Bank of New York Mellon (BoNY) based on agreements concerning residential mortgage-backed securities, a New York federal judge ruled Aug. 18, finding that the agreements provide a formula for recovery before and after liquidation of a loan (The Bank of New York Mellon, solely as Trustee for GE-WMC Mortgage Securities Trust 2006-1 v. WMC Mortgage, LLC and GE Mortgage Holding, LLC, No. 12-7096, S.D. N.Y.; 2015 U.S. Dist. LEXIS 108320).

Mealey's Litigation Procedure - 2nd Circuit: Major League Baseball FanFest Volunteers Are Not Owed Wages

NEW YORK - Individuals who volunteered at Major League Baseball's FanFest are exempt from receiving wages under the Fair Labor Standards Act (FLSA), the Second Circuit U.S. Court of Appeals ruled Aug. 14 (John Chen, et al. v. Major League Baseball Properties, Inc., et al., No. 14-1315, 2nd Cir.; 2015 U.S. App. LEXIS 14275).

Mealey's Insurance - Judge Orders Petition To Confirm Arbitration Award Sealed

NEW YORK - A federal judge in New York on Aug. 14 granted an insurer's motion to seal a petition for confirmation of an arbitration award brought against a reinsurer (Century Indemnity Company v. Global Reinsurance Corporation of America, et al., No. 15-cv-06426, S.D. N.Y.).

Mealey's Antitrust/Unfair Competition - Pennsylvania Federal Judge Denies Electric Supplier's Motion To Transfer Class Suit

PHILADELPHIA - A Pennsylvania federal judge on Aug. 13 denied an electricity supplier's motion to transfer a class complaint alleging misrepresentation of energy rates to a New York federal court, where three other similar class cases are pending (Michael Kantor, et al. v. Hiko Energy, LLC, No. 14-5585, E.D. Pa.; 2015 U.S. Dist. LEXIS 106448).

Mealey's Litigation Procedure - Pennsylvania Federal Judge Denies Electric Supplier's Motion To Transfer Class Suit

PHILADELPHIA - A Pennsylvania federal judge on Aug. 13 denied an electricity supplier's motion to transfer a class complaint alleging misrepresentation of energy rates to a New York federal court, where three other similar class cases are pending (Michael Kantor, et al. v. Hiko Energy, LLC, No. 14-5585, E.D. Pa.; 2015 U.S. Dist. LEXIS 106448).