U.S. Supreme Court To Review Fifth Circuit’s SLUSA Decision in Stanford Ponzi Scheme Case

By Shawn P. Hough on January 28, 2013 Posted in Class Action Trends, Securities

Co-author: Frank Oliva The Supreme Court recently granted certiorari to examine the “in connection with” requirement of the Securities Litigation Uniform Standards Act (“SLUSA”) in Chadbourne & Parke LLP v. Troice, No. 12-79. SLUSA generally precludes state law securities class actions when there is a misrepresentation or omission “in connection with the purchase or sale … Continue Reading

Ninth Circuit: SLUSA Does Not Bar State Law Breach of Contract Claims

By Shawn P. Hough on January 15, 2013 Posted in Securities

The Securities Litigation Uniform Standards Act of 1998 (“SLUSA”) is a federal law that bars state law securities class actions alleging misrepresentations or omissions related to the purchase or sale of certain covered securities. In an opinion filed on January 2, 2013, the Ninth Circuit held that SLUSA does not preclude certain state law securities … Continue Reading

Individual Causation Issues and Lack of Uniformity in Sales Practices Mean No Certification in Consumer Fraud Class Action

By Darren Crook on April 6, 2012 Posted in Class Certification, Consumer Fraud, RICO

The United States District Court for the Northern District of Illinois recently refused to certify a proposed class in a dispute against an insurance company selling annuities to seniors because individualized inquiries into the company’s sales presentations precluded satisfaction of the predominance criterion required for certification. In Rowe et al. v. Bankers Life and Casualty … Continue Reading