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.