Law Reports

Sima Saran Ahuja | Bloomberg Law 76 Fed. Reg. 58176 (Sept. 20, 2011) The Commodity and Futures Trading Commission (CFTC) proposed regulations to establish a schedule to phase in compliance with new trading documentation and margining requirements for swap dealers (SDs) and major swap participants (MSPs) prescribed under Section 731 of the Dodd-Frank Wall Street Reform [...]

In re Leithem, No. 11-01030, 2011 BL 238334 (Fed. Cir. Sept. 19, 2011) The U.S. Court of Appeals reversed a decision of the U.S. Patent and Trademark Office Board of Patent Appeals and Interferences (“BPAI”) holding an application for a diaper invalid as obvious, finding the BPAI rejected the patent on a different ground than [...]

Susan M. Greenwood | Bloomberg Law Findwhat Investor Group v. Findwhat.com, No. 10-10107, 2011 BL 250754 (11th Cir. Sept. 30, 2011) The U.S. Court of Appeals for the Eleventh Circuit affirmed in part, vacated in part, and remanded for further proceedings a securities fraud class action against MIVA, Inc. (MIVA), former Chairman and CEO Craig [...]

Sarah Jane Leake | Bloomberg Law Proposal for a Council Directive on a common system of financial transaction tax and amending Directive 2008/7/EC – European Commission Proposal COM(2011) 594 final of 28 September 2011 The European Commission has been exploring the idea of taxing the financial sector at EU level for several years. In a [...]

In re TD Ameritrade Accountholder Litigation, No. C 07-2852, Related to C 07-4903, 2011 BL 234454 (N.D. Cal. Sept. 13, 2011) The U.S. District Court for the Northern District of California approved settlement of a class action suit against TD Ameritrade, alleging various claims due to a data security breach. The court approved the settlement, [...]

John Haley | Bloomberg Law Bais Yaakov of Spring Valley v. Peterson’s Nelnet, LLC, Civ. No. 11-0011, 2011 BL 232423 (D.N.J. Sept. 12, 2011) The U.S. District Court for the District of New Jersey issued a stay of proceedings in a putative Telephone Consumer Protection Act class action, pending decisions by the Supreme Court and [...]

In re Washington Mutual, Inc., Case No. 08-12229, 2011 BL 234046 (Bankr. D. Del. Sept. 13, 2011) The United States Bankruptcy Court for the District of Delaware denied confirmation of a savings and loan association’s chapter 11 plan because it included flawed business and tax valuations, provided for the payment of postpetition interest at an [...]

Christina DeIasi | Bloomberg Law Landesbank Baden-Württemberg v. Goldman Sachs & Co., No. 10-CV-07549 (S.D.N.Y. Sept. 28, 2011) The U.S. District Court for the Southern District of New York dismissed claims that Goldman Sachs & Co. (Goldman) and TCW Asset Management Company (TCW, and together with Goldman, Defendants) misrepresented a mortgage-backed credit default obligation (CDO) [...]

Erica Smith | Bloomberg Law NECA-IBEW Pension Fund v. Cox, No. 11-cv-00451 (S.D. Ohio Sept. 20, 2011) The U.S. District Court for the Southern District of Ohio denied the defendants’ motion to dismiss a shareholder derivative action alleging that the board of directors breached its fiduciary duty by approving certain executive compensation. The court found [...]

Richard Powell | Bloomberg Law Joint Committee on the Draft Financial Services Bill, Memorandum from the Financial Services Authority, 5 September 2011 The Financial Services Authority (FSA) has published a memorandum setting out its views on the draft Financial Services Bill together with an assessment of the major implementation risks arising out of the UK’s [...]

Jennifer Gaeta | Bloomberg Law Facebook, Inc. v. Teachbook.com LLC, No. 11-CV-03052, 2011 BL 245033 (N.D. Ill. Sept. 26, 2011) The U.S. District Court for the Northern District of Illinois denied defendant Teachbook.com LLC’s motion to dismiss plaintiff Facebook, Inc.’s complaint alleging trademark infringement, dilution, and related federal and state claims finding that Facebook adequately [...]

SEC Press Release No. PR-2011-190 (Sept. 27, 2011); File No. SR-BATS-2011-38 (Sept. 27, 2011); File No. SR-BX-2011-68 (Sept. 27, 2011); File No. SR-BYX-2011-25 (Sept. 27, 2011); File No. SR-C2-2011-24 (Sept. 27, 2011); File No. SR-CBOE-2011-87 (Sept. 27, 2011);File No. SR-EDGA-2011-31 (Sept. 27, 2011); File No. SR-EDGX-2011-30 (Sept. 27, 2011); File No. SR-FINRA-2011-54 (Sept. 27, 2011); File No. SR-NYSE-2011-48 (Sept. 27, 2011); File No. SR-NYSEAmex-2011-73 [...]

In re Lazaridis, No. 10–CV–00029, 2011 BL 224965 (D.N.J. Sept. 1, 2011) The U.S. District Court for the District of New Jersey granted a motion to quash a subpoena duces tecum for postings to an online forum, finding that the posters’ First Amendment rights outweighed the petitioner’s need for the information, and that producing it [...]

Although a trademark owner may license the use of a trademark, “[n]aked licensing occurs when a licensor does not exercise adequate quality control over its licensee’s use of a licensed trademark such that the trademark may no longer represent the quality of the product or service the consumer has come to expect. By not enforcing [...]

FSA fines Rockingham Independent Limited £35,000 and bans two directors and an adviser from selling complicated investments – Financial Services Authority Press Release FSA/PN/080/2011 of 15 September 2011 This September, the Financial Services Authority (FSA) stepped up its action against those breaching the regulatory restriction on the promotion of unregulated collective investment schemes (UCIS). Rockingham [...]

The Cadle Co. II, Inc. v. Gasbusters Production I LP, No. 10-5060, 2011 BL 231849 (6th Cir. B.A.P. Sept. 9, 2011) The United States Bankruptcy Appellate Panel for the Sixth Circuit (“B.A.P.”) affirmed a bankruptcy court’s decision and held that a limited partnership sufficiently established its ownership interest in fifteen gas well agreements and could assert [...]

Bisirat Ghebray | Bloomberg Law On December 4, 2003, Congress enacted the Fair and Accurate Credit Transactions Act (FACT Act), Pub. L. 108-159. The FACT Act amended the Fair Credit Reporting Act (FCRA), 15 U.S.C. §1681 et seq., to “enhance the ability of consumers to combat identity theft, increase the accuracy of consumer reports, and allow consumers [...]

Adrienne Kitchen Moeller | Bloomberg Law Shareholder access to proxies and the ability to get director nominees on company ballots became a hot-button issue after the 2008 credit crisis with the public call for corporate governance reforms. This article reviews the steps taken by the U.S. Congress and the Securities and Exchange Commission (SEC) to [...]

e360 Insight, Inc. v. Spamhaus Project, Nos. 10-3538, -39, 2011 BL 226933 (7th Cir. Sept. 2, 2011) The U.S. Court of Appeals for the Seventh Circuit affirmed a district court’s decision to strike the trial testimony of, and impose discovery sanctions against, a bulk e-mail marketing company that sued an organization that it claimed destroyed [...]

Kate Hooker | Bloomberg Law Kennedy v. St. Joseph’s Ministries, Inc., No. 10-1792, 2011 BL 234720 (4th Cir. Sept. 14, 2011) A district court’s decision that religious harassment and retaliatory discharge claims filed by a Catholic nursing home employee were not barred by the “religious organization exemption” to Title VII of the Civil Rights Act [...]