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Northern District of Illinois' Decision Gives Hope to Defendants Facing Class Actions in Unfriendly Venues.
The Northern District of Illinois recently issued a decision highlighting a class action defendant’s ability to transfer venues based on the parties’ convenience. The court transferred a putative class action from the location of the defendant’s principal place of business in Chicago, Illinois, to where the putative class members resided in San Antonio, Texas. In doing so, the court transferred the case to a less plaintiff-friendly venue, the Western District of Texas. This decision provides a useful addition to the toolbox of class action defendants that find themselves in unappealing venues. Read More ›
Purina Seeks Certiorari Review of Federal District Court’s Ability to Enjoin Parallel State Litigation
Nestle Purina PetCare Company has sought certiorari review from the United States Supreme Court of a Federal District Court’s ability to enjoin parallel state proceedings under the All Writs Act and the Anti-Injunction Act. Nestle Purina PetCare Co. v. Curts, 2015 WL 1250861 (U.S.). Purina is seeking to reverse the 7th Circuit’s ruling that the District Court’s entry of an injunction against parallel state class litigation while final approval of class settlement is pending was improper. A ruling on this could have a serious impact on how class actions, and particularly class settlements, proceed in the future. Read More ›
On Wednesday, as expected and predicted, SCOTUS granted certiorari in Spokeo v. Robins case. This case was the subject of our previous discussion in the February 20 post “Robins v. Spokeo Inc: the Light at the End of the Tunnel for Rule 23 Privacy Class Actions...or the Headlights of an Oncoming Train.” As we noted there, this case has enormous significance in both data breach litigation and in class action litigation generally.
The key issue facing the Court in Robins is whether Article III standing can be conferred when a plaintiff suffers no injury, but can instead only recover statutorily imposed penalties. Article III of the U.S. Constitution requires that a plaintiff suffer an injury in fact – injury or damage that is concrete and which the law recognizes – in order to maintain an action. Read More ›
The Financial Services Blog offers the latest information on banking development and litigation trends. Topics range from commercial and consumer lending through bankruptcy, lender liability defense, and the Dodd-Frank Act through Regulations JJ.
Many banks are now evaluating the pros and cons of using the new “.bank” domain. For those not already in the know, rather than continuing to use the generic “.com” domain, qualifying banks can soon switch to a more descriptive .bank top-level domain name. For example, a bank’s website address might read www.XYZinstitution.bank, rather than www.XYZinstitution.com; and its emails name.employee@XYZinstitution.bank. In 2012, fTLD Registry Services, LLC (formed by the Financial Services Roundtable and the American Bankers Association) applied to ICANN for the right to issue and manage the .bank generic top-level domain names. On September 25, 2014, fTLD was granted these rights, and it promptly established a roll-out schedule for the issuance of the .bank domain name. For those few financial institutions who hold registered trademarks in their names, open enrollment began last Sunday, May 17, 2015. For all the other banks, those without registered trademarks, general availability enrollment will begin at 8:00 pm, EDT, on June the 23rd. Read More ›
Does your company lease point-of-sale (POS) credit card terminals to customers in Tennessee? Or, are you a Tennessee merchant who accepts credit or debit card sales? If so, your company will want to be aware of a new Tennessee law that regulates POS terminal contracts. Read More ›
In a relatively unnoticed enactment of the Kentucky General Assembly, KRS § 382.290 and KRS § 382.297 were amended by Senate Bill 148, effective July 1, 2015. The amendment to § 382.290 merely codifies a generally accepted practice to include source deed descriptions within a mortgage. But the amendment to § 382.297 could have unintended consequences, as it prohibits an amended mortgage from altering the parties or the collateral of a recorded mortgage. Read More ›
The International Services Group Blog is a resource for business leaders within the international commerce industry. Frost Brown Todd's international lawyers discuss the latest challenges for international trade and regulation, as well as solutions for those challenges.
In February 2015, China’s State Administration of Foreign Exchange (SAFE) simplified procedures for foreign investors in certain respects. This is another step forward in making foreign direct investment into China less time consuming and bureaucratic. The two most important measures were these:
- Revocation of foreign exchange registration with SAFE – this can now be accomplished directly with qualified banks. SAFE will take on an indirect supervisory role through its supervision of FDI-related foreign exchange of the banking sector. How this will unfold in practice remains to be seen, so watch for the implementation of CXircular 13 to commence on June 1.
- Revocation of the registration requirement to confirm a foreign investor’s investment when it acquires an equity interest owned by a Chinese party - this relates to both cash and non-monetary forms of acquisition. The practical effect should be to provide more flexibility to contracting parties in the timing and price adjustments possible for acquisitions of interests of Chinese equity holders by foreign purchasers.
Foreign investment projects in the People’s Republic of China (“PRC”) are approved on a case-by-case basis. The approval is principally driven by the “Three Laws on Foreign Investments”: the Sino-Foreign Equity Joint Venture Enterprise Law (“Equity Joint Venture Law”), the Wholly Foreign Owned Enterprise Law (“WOFE Law”), and the Sino-Foreign Cooperative Joint Venture Enterprise Law (“Cooperative Joint Venture Law”). Read More ›
The China Council for the Promotion of International Trade/China Chamber of International Commerce (or “CIETAC”), a leading arbitral body in China, recently amended its Arbitration Rules. While some of the amendments and additions are relatively minor, the changes provide for several new options to parties who use CIETAC for arbitration. Read More ›
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