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
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
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,
On Sept. 23, the Delaware Supreme Court endorsed a new universal three-part demand-futility test in United Food and Commercial Workers Union and Participating Food Industry Employers Tri-State Pension Fund v. Zuckerberg, et al. (Zuckerberg).[1] This universal test combines the traditional demand-futility tests established in Aronson v. Lewis[2] and Rales v. Blasband
Today, the United States Supreme Court resolved a circuit split regarding what constitutes an “autodialer” under the Telephone Consumer Protection Act (TCPA). In a blow to the plaintiffs’ bar, the Supreme Court ruled in favor of defendant Facebook, establishing a narrower, nationwide standard for what type of dialing equipment constitutes an “autodialer.”
The TCPA prohibits
