The Ninth Circuit affirmed dismissal of a SunPower securities complaint because investors did not plausibly allege that the company knew of an over-torquing defect when it warned that product risks could occur.
The First Department held that divorce-litigation funding with multiple unconditional repayment triggers was a loan and void because its 18.96% rate was usurious.
The Third Department upheld New York’s treatment of Sunoco’s paired petroleum buy/sell transactions as inventory exchanges rather than franchise-tax receipts.
The Second Department held that a Dutch bank’s passive receipt of a fraud-induced wire into a Netherlands account did not establish personal jurisdiction in New York.
The Ninth Circuit affirmed that a municipal advisor’s division of underwriting fees was prohibited fee-splitting and upheld the SEC’s full set of remedies.
The Ninth Circuit enforced a fraudulent-instructions exclusion and rejected the insured’s attempt to import a narrower defined term from other policy provisions.
The Ninth Circuit reversed dismissal of a False Claims Act qui tam suit alleging PPP fraud by a California mortgage company, holding that a NAICS industry code alone does not publicly disclose fraud and that a company’s own website does not qualify as ‘news media’ for purposes of t
The Ninth Circuit affirms a preliminary injunction blocking FinCEN’s “Border GTO” — which required money services businesses in 30 southwest border ZIP codes to file cash-transaction reports for amounts as low as $200 — finding the order was likely a rule requiring notice-and-comment rulemaking and
Second Department affirms foreclosure summary judgment and rejects criminal usury counterclaim where defendants failed to raise a triable issue of fact that the effective interest rate exceeded the criminal threshold; affirms guaranty enforcement after mortgage assignment.
The First Department upholds civil contempt liability for City National Bank’s violation of a CPLR 5222(b) restraining notice, holding that a debtor’s payments to the bank on a separate debt are still ‘property in which the judgment debtor has an interest’—and that full satisfaction of the judgment does not moot the contempt claim.
The First Department dismisses RPAPL 1921 and Real Property Law § 275 mortgage discharge penalty claims as time-barred under CPLR 214(2)’s three-year limitations period, and holds that American Pipe tolling does not carry over to a successive class action after the first was voluntarily dismissed.
The First Department affirms dismissal of fiduciary duty claims arising from Iberdrola’s buyout of Avangrid minority shareholders, holding that the MFW-compliant deal structure under New York’s Kenneth Cole framework triggers deferential business judgment review.
The Fourth Department affirms that a merchant cash advance structured as a revenue purchase agreement is not a usurious loan under New York law, applying the three-factor test of reconciliation provisions, finite term, and bankruptcy recourse.