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5th Circuit Panel Affirms District Court Rulings In Mortgage Lending Suit
NEW ORLEANS - A federal district court did not err in ruling in favor of a number of defendants in a lawsuit filed by a mortgagee because, among other things, the plaintiff failed to bring her claims...
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Judge: Investor Statutory Met Requirements For Class Certification In AIG Suit
WASHINGTON, D.C. - Ruling that a shareholder has properly met the statutory requirements for class certification, a federal judge in Washington, D.C., on March 8 granted the shareholder's motion for...
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Federal Judge Denies Shareholders' Attempt To Stop Archstone Sale
DENVER - A federal judge in Colorado on March 1 denied the request of real estate investment trust Archstone Enterprise LP shareholders to block the sale of Archstone, an entity in which the bankrupt...
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Judge Denies Motions In Debt Collection Lawsuit Over Consumer Loan Default
MINNEAPOLIS - Although a consumer's claims will not likely survive a motion for summary judgment, a federal judge in Minnesota on March 20 denied a debt collector's motion to dismiss and a credit...
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Dismissal Denied Under Calder Effects Test In Fair Credit Reporting Act Suit
PORTLAND, Ore. - Dismissal of a consumer's complaint in a Fair Credit Reporting Act (FCRA) lawsuit is not proper under the Calder v. Jones effects test because a company acted intentionally when it...
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Shareholders' Action Alleging Conspiracy Against Private Equity Firms Continues
BOSTON - Shareholders who allege that several private equity firms fixed the prices paid for companies undergoing leveraged buyouts (LBOs) alleged sufficient evidence to create a genuine issue as to...
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Proskauer, Chadbourne Get Stay In Stanford Ponzi Scheme Lawsuit
DALLAS - A federal judge in Texas on March 8 granted a joint stipulation to stay proceedings filed by the court-appointed receiver of convicted Ponzi schemer R. Allen Stanford's businesses and the...
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Judge: Consumers' State Law Claims Against Credit Union Are Time-Barred
KANSAS CITY, Mo. - A credit union is entitled to summary judgment as to consumers' Missouri Merchandising Practices Act claims in conjunction with the sale and subsequent repossession of automobiles...
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Senate Report: JPMorgan Concealed Losses To 'London Whale' Derivatives
WASHINGTON, D.C. - A U.S. Senate subcommittee on March 14 released an investigative report showing that financial giant JPMorgan Chase & Co. concealed material information regarding billions of...
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Freddie Mac Sues LIBOR Panel Banks And Others Over Losses
ALEXANDRIA, Va. - Member banks of the London Interbank Offered Rate (LIBOR) panel and certain of their subsidiaries violated federal antitrust laws by manipulating and suppressing the LIBOR, which...
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Judge Issues Stay Of Pending Arbitrations, Enjoins Future Filings
BROOKLYN, N.Y. - A New York federal judge on March 11 issued a temporary stay of pending arbitration actions and enjoined any future filings during the pendency of a fraud action in a dispute over...
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Florida Judge Sentences Home Health Care Operators For Fraud
MIAMI - The owner and manager of a home health care center were sentenced to time in prison and ordered to pay restitution for conspiracy to commit health care fraud in Florida on Feb. 28 (United...
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Former Florida Doctor Sentenced To Prison For His Role In Fraud
MIAMI - A Florida federal judge on March 15 sentenced a former medical doctor to 144 months in prison for conspiracy to commit health care fraud and health care fraud for his participation in a scheme...
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DME Wholesale Providers Plead Guilty To Fraud
LOS ANGELES - Two former owners of a durable medical equipment (DME) supplier pleaded guilty Feb. 25 to conspiracy to commit health care fraud in a California federal court (United States of America v....
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Indiana Federal Judge Denies Dismissal Of False Claims Qui Tam Suit
INDIANAPOLIS - A federal judge in Indiana on Feb. 21 mostly denied three motions to dismiss a qui tam action filed under the federal False Claims Act (FCA) and the Indiana False Claims Act (IFCA)...
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Material Misrepresentation Voids Policy, Illinois Federal Judge Rules
CHICAGO - An applicant who failed to disclose a change in his medical condition prior to finalizing the issuance of a life insurance policy committed a material misrepresentation, an Illinois federal...
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Insured's Material Misrepresentation Voids Coverage, Judge Holds
SOUTH BEND, Ind. - An Indiana federal judge on March 12 ruled that a homeowner's insurer is entitled to rescind its policy based on an insured's material misrepresentation on the application (Dorothy...
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Evidence Supports Claim Denial Due To Misrepresentation
LOS ANGELES - The Second District California Court of Appeal on March 14 upheld a jury's verdict finding that an insurer's benefit denial for a fire loss was reasonable based on a claimant's...
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Failure To Disclose Financial Records Voids Policy, Judge Holds
CINCINNATI - A claimant's failure to disclose financial documents in light of an arson defense and a large tax liability voids coverage under a homeowners policy, an Ohio federal judge ruled Feb. 22...
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Court: Issues Of Fact Over Representations Preclude Judgment
LITTLE ROCK, Ark. - Disputed issues of fact over an insured's representations regarding coverage preclude summary judgment, an Arkansas appeals court ruled March 13 (Nationwide Mutual Insurance Co. v....
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