SAN FRANCISCO - A California federal judge on Nov. 7 granted summary judgment to Apple Inc. in a class suit filed by retail workers seeking compensation for the time they spent waiting in line for and undergoing a security check of their bags before leaving after their shifts were over (Amanda Frlekin, et al. v. Apple Inc., Nos. 13-3451, 13-3775 and 13-4727, N.D. Calif.; 2015 U.S. Dist. LEXIS 92768).
DENVER - A federal judge in Colorado on Nov. 3 granted preliminary approval of a $3.2 million settlement in a securities class action lawsuit, ruling that the settlement meets all statutory requirements for approval (Patipan Nakkhumpun v, Daniel J. Taylor, No. 12-1038, D. Colo.; 2015 U.S. Dist. LEXIS 149850).
NEW ORLEANS - In a one-sentence order, a Fifth Circuit U.S. Court of Appeals panel on Nov. 4 granted Halliburton Co.'s motion for leave to appeal a district court ruling certifying a class of shareholders in a securities suit alleging that the company and certain of its officers and directors misrepresented the company's business and financial condition in violation of federal securities law (Erica P. John Fund Inc. v. Halliburton Co., No. 15-90038, 5th Cir.).
WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 2 declined to review a Second Circuit U.S. Court of Appeals ruling upholding the dismissal of a securities class action lawsuit (Boca Raton Firefighters and Police Pension Fund v. Robert J. Bahash, et al., No. 15-88, U.S. Sup.).
WASHINGTON, D.C. - Shareholders and Bank of America Corp. (BoA) have agreed to a $335 million settlement in a securities class action lawsuit alleging that BoA and certain executive officers and directors issued misrepresentations in connection with the sale of mortgage-backed securities (MBS) in violation of federal securities laws, according to documents filed Oct. 30 with the Securities and Exchange Commission (Pennsylvania Public School Employees' Retirement System v. Bank of America Corp., et al., No. 11-733, S.D. N.Y.).
SAN DIEGO - A for-profit post-secondary education company and certain of its officers and directors have agreed to pay more than $15 million to settle claims that they misrepresented the accreditation status of one of the company's colleges in violation of federal securities laws, according to court documents filed in a California federal court on Oct. 30 (In re Bridgepoint Education Inc. Securities Litigation, No. 12-1737, S.D. Calif.).
WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 2 declined review of a Third Circuit U.S. Court of Appeals ruling upholding the conviction of a man on wire fraud and securities fraud charges (George Georgiou v. United States of America, No. 14-1535, U.S. Sup.).
SAN FRANCISCO - A federal judge in California on Oct. 28 granted preliminary approval of a $23 million securities class action settlement between shareholders and online video game maker Zynga Inc. and certain of its executive officers and directors (In re Zynga Inc. Securities Litigation, No. 12-4007, N.D. Calif.; 2015 U.S. Dist. LEXIS 145728).
CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Oct. 22 affirmed a district court's dismissal of a disability pension benefits dispute after determining that the Employee Retirement Income Security Act's anti-cutback and anti-forfeiture provisions do not apply to disability pension benefit plans (Kenneth L. Myers, et al. v. Bricklayers and Masons Local 22 Pension Plan, et al., No. 14-4234, 6th Cir.; 2015 U.S. App. LEXIS 18586).
NEW YORK - The Second Circuit U.S. Court of Appeals on Oct. 21 affirmed a lower federal court's ruling that there is no directors and officers liability coverage for five underlying lawsuits arising out of the securitizations of residential mortgage-backed securities (Nomura Holding America Inc. v. Federal Insurance Co., No. 14?3789, 2nd Cir.).
WILMINGTON, Del. - A magistrate judge's report recommending against granting summary judgment relies on circumstantial evidence of asbestos exposure similar to evidence that secured such relief for several other defendants, two defendants told a federal judge on Oct. 19 (In re: Asbestos Litigation, Arthur Dumas v. ABB Group Inc., et al., No. 13-229, D. Del.; 2015 U.S. Dist. LEXIS 137291).
HARRISBURG, Pa. - Joint employer status, without more, cannot bind a nonsignatory to a collective bargaining agreement entered into by another employer to make contributions to employee fringe benefit plans, a Pennsylvania federal judge said Oct. 15 in refusing to extend liability to the nonsignatories under Section 515 of the Employee Retirement Income Security Act (Carpenters Combined Funds Inc. v. Kelly Systems Inc., et al., No. 15-1091, M.D. Pa.; 2015 U.S. Dist. LEXIS 140278).
SAN FRANCISCO - A former partner-driver of Uber Technologies Inc. failed to plead sufficient injury from the purported theft of his personally identifiable information (PII), a California federal magistrate judge ruled Oct. 19, granting Uber's motion to dismiss the putative unfair competition and failure to secure class claims against it (Sasha Antman v. Uber Technologies Inc., et al., No. 3:15-cv-01175, N.D. Calif.; 2015 U.S. Dist. LEXIS 141945).
AUSTIN, Texas - An expert cannot testify in a lawsuit alleging a fraudulent business deal that loans constituted the "sale of securities" under the Securities Exchange Act of 1934 and the Texas Securities Act (TSA) and that defendants acted as brokers and dealers, a Texas federal judge ruled Oct. 14 (Steven B. Aubrey, et al. v. Peter E. Barlin, et al., No. 10-076, W.D. Texas; 2015 U.S. Dist. LEXIS 139961).
NEW YORK - A federal judge in New York on Oct. 14 consolidated two securities class action lawsuits and appointed lead plaintiff and lead counsel, ruling that the institutional investor chosen meets all statutory requirements for serving as lead plaintiff (Megan Villella v. Chemical & Mining Co. of Chile Inc., et al., No. 15-2106, S.D. N.Y.; 2015 U.S. Dist. LEXIS 140578).
SAN FRANCISCO - A California federal judge on Oct. 9 certified a class of disability benefits applicants suing the acting commissioner of Social Security over the administration's decision to deny them benefits based on examinations performed by a doctor who was later disqualified (Kevin Hart, et al. v. Carolyn W. Colvin, No. 15-623, N.D. Calif.; 2015 U.S. Dist. LEXIS 138673).
WASHINGTON, D.C. - Once a plaintiff is offered everything that he could have secured through a federal judgment, his complaint is moot, the attorney representing a vendor that sent text messages on behalf of the U.S. Navy and was sued under the Telephone Consumers Protection Act (TCPA) argued Oct. 14 before the U.S. Supreme Court (Campbell-Ewald Company v. Jose Gomez, No. 14-857, U.S. Sup.).
NEW YORK - A federal district court did not err in dismissing an investment consultant's complaint against a website and its operator for alleged violations of federal securities laws because the investment consultant failed to properly plead reliance, a Second Circuit U.S. Court of Appeals panel ruled Oct. 9 (Joseph M. Salvani, et al. v. InvestorHub.com Inc., et al., No. 14-3994, 2nd Cir.; 2015 U.S. App. LEXIS 17734).