BY KAREN KANE The Supreme Court of the United States affirmed a judgment of the Court of Appeals for the Third Circuit against Merck & Co. by holding that the complaint filed by the investors was not barred by the limitations period but was timely because the investors had not […]
Articles by: Business Law Journal
IMPACT OF THE DODD-FRANK AND REGISTRATION ACTS OF 2010 ON INVESTMENT ADVISERS
BY JAMES F. KOEHLER, ESQ. AND P. WESLEY LAMBERT, ESQ. On July 21, 2010, the President signed into law the most sweeping piece of financial reform legislation experienced by this country since the Great Depression. This legislation, titled the Dodd-Frank Wall Street Reform and Consumer Protection Act1 (the “Dodd-Frank Act”) […]
THE THIRD CIRCUIT DECLINES TO RECOGNIZE THE FRAUD CREATED THE MARKET THEORY AS A MEANS OF PRESUMING RELIANCE IN CLASS ACTION SECURITIES FRAUD CASES: MALACK V. BDO SEIDMAN, LLP
BY JESSE KRUEGER The United States Court of Appeals for the Third Circuit affirmed denial of class certification to note purchaser on basis that reasonable reliance could not be presumed based on the fraud created the market theory and that the fraud created the market theory does not apply… Continue […]
THE FIX IS IN: CAN THE ASYMMETRIC CONDITION OF REGULATORY OVERSIGHT IN THE U.S. CAPITAL MARKETS BE CORRECTED?
BY JAMES W. RATHZ As the United States financial markets approach the end of the first decade of the 21st century, financial compliance as implemented by the regulated enterprise remains as varied as the businesses subject to regulatory oversight. Continue Reading>
THE “TRANSACTIONAL TEST” REPLACES THE “CONDUCT AND EFFECTS TEST” WHEN DETERMINING THE EXTRATERRITORIAL REACH OF PRIVATE RIGHTS OF ACTION PURSUANT TO SECTION 10(B) OF THE SECURITIES EXCHANGE ACT OF 1934: ROBERT MORRISON, ET AL. V. NATIONAL AUSTRALIA BANK LTD.
BY LAUREN MACIAS Federal canon that statutes do not have extraterritorial application includes section 10(b) of the Securities Exchange Act of 1934… Continue Reading>
A FINANCIAL INSTITUTION CLAIMING THAT A POSSESSOR BANK WRONGFULLY REFUSED TO RETURN LOANS AND PROCEEDS TO WHICH A TRUSTEE HAD LEGAL TITLE MUST UTILIZE THE FINANCIAL INSTITUTIONS REFORM, RECOVERY AND ENFORCEMENT ACT’S ADMINISTRATIVE CLAIMS PROCESS BEFORE TURNING TO THE FEDERAL COURT FOR DE NOVO JUDICIAL REVIEW: BANK OF AMERICA NATIONAL ASSOCIATION V. COLONIAL BANK
BY KIRAN K. PATEL The Court of Appeals for the Eleventh Circuit vacated and remanded an injunction from the District Court holding that the antiinjunction provision of Financial Institutions Reform… Continue Reading>
