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Absent Class Members Suing in State Court Are Not Bound by Prior Federal District Court Decision
Last year, in Shady Grove Orthopedic Associates, P. A. v. Allstate Ins. Co., 559 U.S. ___, 130 S. Ct. 1431; 176 L. Ed. 2d 311 (2010), the Supreme Court held that state law prohibitions against the use of the class action device did not apply to suits pending in federal court because class claims in federal court are governed by the requirements of Federal Rule of Civil Procedure 23.
Recently, in Smith v. Bayer Corp., 564 U.S. ___, 131 S.Ct. 2368, 180 L.E.2d 341 (2011), the Court addressed a variation on that theme: whether a federal court decision denying class certification had any preclusive effect on efforts by other plaintiffs to seek certification in state court under nearly identically worded state procedural rules. In Smith, the district court overseeing a federal MDL concluded that a West Virginia plaintiff could not seek class-wide relief under that state's consumer protection act. When an unrelated group of plaintiffs in a West Virginia state court proceeding then sought certification of essentially the same class in the state forum, the federal district court stepped in and enjoined further state court certification proceedings. The Eighth Circuit affirmed.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.