A federal jury in California agreed with the SEC that a corporate official engaged in insider trading when he purchased securities of a company based on material nonpublic information (“MNPI”) about a different company. The April 5, 2024 verdict for the SEC in SEC v. Panuwat (N.D. Cal.) could embolden the SEC to pursue more claims of “shadow trading,” which involves trading the securities of a public company that is not the direct subject of the MNPI but whose stock price allegedly … Read the rest
The greater the appraisal award is, the greater frequency that the insurance company will flip out and blame somebody or something for causing a large appraisal award. This is the situation in a North Carolina case where the insurance company has sued the umpire.
In response, the umpire has claimed he cannot be sued because he has immunity as an arbitrator. The umpire, Lewis O’Leary, is very experienced in appraisals. He was noted in “How Late Can Late Notice of … Read the rest
A pair of malic acid decisions recently issued by Judge Coleman in the Northern District Court of Illinois reaffirmed that the statements “natural flavors with other natural flavors” and “no artificial flavors” receive different treatment under state false advertising laws, at least in that district.
In Boss v. Kraft Heinz Co., the plaintiffs alleged that Kraft Heinz’s MiO water-flavoring products contained synthetic malic acid, rendering false and misleading the claim “natural flavors with other natural flavors” on the products’ … Read the rest
Today we ponder “do-overs,” a timely topic as the House of Representatives struggles, over and over, to elect a speaker. As we write, the seventh unsuccessful vote has just concluded. We have learned that the record stands at 22 votes before the beleaguered candidate finally prevailed. This was in 1820, as John W. Taylor, an outspoken abolitionist, ran against a pro-slavery opponent for the seat vacated by Henry Clay, who resigned after shepherding the Missouri Compromise to victory. All kinds … Read the rest
As I have noted in recent posts (here, for example), SPAC-related securities suit filings continue to accumulate and represent a significant current securities litigation phenomenon. But while the number of suits continues to mount, relatively few of these cases have yet reached the dismissal stage. In a recent ruling, however, the defendant company’s motion to dismiss in a SPAC-related securities suit was substantially denied as to the company itself and its top executives. In particular, the claims based on allegations … Read the rest
Next Florida suit says building next to collapsed condo could be responsible.
Legal Reader… Read the rest