Investors in Infinity Q Capital Management’s (Infinity Q) funds filed a proposed class action against the firm last week after the fund’s founder was charged with securities fraud and obstruction of justice for allegedly inflating assets by over $1 billion and falsifying records.
The complaint, which was filed last Thursday in the U.S. District Court
New York and Delaware each enjoy an excellent reputation in the business world and typically provide the governing laws and are the jurisdictions of choice in domestic (and many international) commercial contracts. But which law is more likely to uphold the freedom of contract? This blog post analyzes two New York Court of Appeals decisions
Arbitration clauses in commercial and consumer contracts can be an effective tool for limiting the time and expense associated with litigation. However, parties always may decide to litigate, assuming neither party seeks to arbitrate. When one party engages in litigation conduct and only later moves to compel arbitration, the other party may argue that the
Certain class action settlements—like employment and consumer settlements—will very often draw objections from absent class members. But other types of settlements with more sophisticated absent class members—like antitrust and securities—will often draw no objections at all.
Without any objectors, and thus no one contesting approval of the settlement, a district judge with busy docket will
The U.S. House Committee on Financial Services (Committee) met last Wednesday[1] to discuss the rapidly growing cryptocurrency market exchange and the regulatory landscape that currently governs it.
Executives from six major crypto asset companies, including Coinbase and Circle, testified at the hearing, calling for clearer standards and guidance from regulators. Among other things, the
It is an old saw that partners, co-venturers, and insiders to closely held businesses owe fiduciary duties of loyalty and due care when dealing with one another. Importantly, these fiduciary duties modify the common law of fraud by imposing an affirmative duty upon the fiduciary to disclose material facts to the beneficiary, which, if breached,
Inspection rights in a partnership agreement are frequently ignored until a dispute arises. And by that time, a limited partner’s degree of access may make the difference as to whether a lawsuit is ultimately filed.
Section 17-305 of the Delaware Revised Uniform Limited Partnership Act , 6 Del. C. § 17-101, et seq. (“DRULPA” or
In a recent published decision, the United States Court of Appeals for the Third Circuit clarified the standards that district courts must apply when certifying discrete issues–rather than an entire action–for classwide adjudication under Rule 23(c)(4).
What Is Rule 23(c)(4)?
Rule 23(c)(4) is an obscure part of federal class action practice. It states, simply,
In the wake of COVID-19, litigants have increasingly sought to excuse contractual performance by invoking force majeure clauses. In the early stages of the pandemic, there were few reported decisions on these matters, and the substance of these rulings echoed the principles that were applied in the pre-COVID era: force majeure clauses are strictly and
The common train of thought when litigating as an out-of-state defendant is that it is best to be venued in federal court so as to eliminate any advantage an in-state plaintiff might have with a local jury. Typically, foreign companies will seek to remove state court actions filed by local plaintiffs to federal court under
