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Ninth Circuit Takes Tough Stance on Loss Causation
A company's announcement of an internal investigation may trigger a bad stock market reaction but, by itself, it's not enough to establish loss causation in a securities class action, the U.S. Court of Appeals for the Ninth Circuit held on Aug 7, 2014.
A three-judge panel affirmed U.S. District Judge Maxine Chesney's 2011 dismissal of a shareholders' suit targeting Immersion Corp. and five company executives. In Loos v. Immersio , filed in the U.S. District Court for the Northern District of California, plaintiffs argued that the San Jose, CA, tech company effectively revealed it had “cooked the books” in a 2009 press release announcing it was reviewing previous years' revenue calculations. Immersion's stock price dropped 23% on the news.
But the district and appellate courts found that the company's announcement, and subsequent recasting of past years' earnings, reflected poor financial health, not proof corporate executives had acted fraudulently.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.