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Real Property – Securities Fraud – Insufficient Allegations – Breach of Contract Claim – Tort/Negligence
Vestlyn BMP, LLC v. Balsam Mountain Group, LLC (Lawyers Weekly No. 020-044-16, 24 pp.) (Gregory McGuire, J.) 2016 NCBC 46 Holding: In support of its securities fraud counterclaim, the defendant-purchaser alleges that the property interest in question (the Lot 192 Interest) consists of “promissory notes, deeds of trust, and ‘certain other loan and security documents.’” […]
High court limits securities suits over deceptive comments
WASHINGTON (AP) — A unanimous Supreme Court ruled Tuesday that investors can’t sue companies for making misleading statements of opinion prior to a public stock offering just because those statements ultimately turn out to be wrong. But the ruling said some opinions in registration documents might omit important facts that could mislead investors, giving them […]
Criminal Practice – Securities Fraud Conviction Still Good After New Case
Prousalis v. Moore (Lawyers Weekly No. 14-01-0449, 18 pp.) (Wilkinson, J.) No. 13-6814, May 7, 2014; USDC at Richmond, Va. (Gibney, J.) 4th Cir. Holding: The 4th Circuit says a securities lawyer who admitted knowing the IPO for his client, internet company Busybox Inc., would not be listed on the NASDAQ exchange if the lawyer’s […]
Tort/Negligence – Securities Fraud – Investment Advisor – Breach of Fiduciary Duty
William L. Thorpe Revocable Trust v. Ameritas Investment Corp. The complaint gives rise to a strong inference that defendant King intentionally or recklessly misrepresented that plaintiff Webster was guaranteed to receive a five-percent return on her investment.
Criminal Practice – Securities Fraud – Evidence – Expert Testimony
U.S. v. Offill The 4th Circuit affirms securities fraud and wire fraud convictions of a former lawyer for the Securities and Exchange Commission who participated in a “pump and dump” securities scheme designed to evade securities registration requirements, artificially inflate the value of securities and then realize a gain by selling them at the inflated value to the public.
Securities – Fraud – Leveraged Buyout – Disappointed Investors – Civil Practice – Pleadings Amendments
Katyle v. Penn National Gaming Inc. (Lawyers Weekly No. 11-01-0289, 31 pp.) (Baldock, J.) No. 09-2272, March 14, 2010; USDC at Greenbelt, Md. (Messitte, J.) 4th Cir. Click here for the full text of the opinion. Holding: Plaintiffs, investors who were disappointed after a gaming company’s projected leveraged buyout failed to go through in 2008, […]
SEC accuses two brokers of defrauding clients
RALEIGH (AP) – Two former Wachovia Securities brokers tricked dozens of mostly elderly clients into investing in what were supposed to be can’t-miss opportunities, only to lose roughly $8 million, according to a lawsuit filed by the Securities and Exchange Commission. The SEC complaint charges William Harrison and Eddie Sawyers of misrepresenting the investment strategies […]
Fayetteville man’s suicide left investors big liabilities
FAYETTEVILLE (AP) – Investors and banks are looking for a share of the $8 million estate a Fayetteville businessman left behind along with more than $40 million in debts when he killed himself. Harnett County court documents show bank founder and financier Raymond Lee Mulkey Jr., 63, left an estate with $8 million in assets […]
Labor & Employment – Retirement Funds – ERISA – Investment Change – Health Insurance – Securities Fraud Claim
Hall v. Tyco International Ltd. (Lawyers Weekly No. 10-03-0927, 10 pp.) (James A. Beaty, J.) M.D.N.C. Holding: Even if the court accepts plaintiff’s personal calculations as to how much money he lost in the 24 hours during which his accounts were transferred from Vanguard funds to Fidelity funds, plaintiff has not established either a […]
Top Legal News
- Catesha Hargro: Finding pathways forward
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- 5th Circuit blocks Louisiana redistricting hearings
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- Courts’ work will continue amid government shutdown
- NC lawmakers to redraw district maps again
- Mississippi activists ask to join water lawsuit
- State judge blocks gender-affirming care ban
- Menendez pleads not guilty in wide-ranging corruption case
- Lawyer in Trump-Russia probe confirmed for Connecticut high court
- Commercial vehicle crash claims life of wife, mother: $3.99 million settlement
Commentary
- Amotion sees resurgence after almost a decade
- The flip side of generative AI in law and how to address it
- The fight for equal educational opportunity continues
- Court’s term was rough on big business
- Ex-president, bar association have made their choice
- Ruling sharpens boundaries in attorney-client privilege
- Lawyers Weekly debuts new and improved web experience
- US Supreme Court bites back at parody’s use of the First Amendment
- Supreme Court leaves key internet protection untouched
- Case study: North Carolina courts provide guidance on scope, limitations of attorney-client privilege
- A Different Ode to Pro Bono Work
- A roadmap to attracting, developing, retaining great associates
