12 results for 'cat:"Securities" AND cat:"Jurisdiction"'.
J. Edwards denies remand to the Chapter 11 liquidating trustee for two bankrupt German-owned manufacturers of wood pellets. The trustee, a resident of Massachusetts, acted in “bad faith” to keep his suit against three financial advisors in a Louisiana state court. The sued financial advisors, who sold now-worthless bonds to build a wood pellet plant in Louisiana, met the high burden of demonstrating the trustee misused the federal removal statute by leaving a lone Louisiana resident – an accountant – to keep his suit in state court. The state court dismissed the trustee’s action against the Louisiana-based accountant because he had no evidence to support his allegations against her, nor did he depose her.
Court: USDC Western District of Louisiana , Judge: Alexandria, Filed On: May 7, 2024, Case #: 1:23cv505, NOS: Other Contract - Contract, Categories: Bankruptcy, securities, jurisdiction
J. Williams grants the trademark owner's motion to dismiss counterclaims filed by the infringing competitor, ruling its unfair competition and securities claims fail because there are no allegations of unlawful securities transactions and the claims also deal with the owner's actions in the Japanese market, which are outside the scope of the relevant statute.
Court: USDC Connecticut, Judge: Williams, Filed On: March 25, 2024, Case #: 3:20cv1056, NOS: Trademark - Property Rights, Categories: securities, Trademark, jurisdiction
J. Subramanian finds that the district court improperly dismissed class claims contending Mexican branches of multinational banks engaged in price-fixing on government bonds sold to U.S. retirement funds because while actual pricing occurred in Mexico, nonparty broker-dealers facilitated sales from New York.
Court: 2nd Circuit, Judge: Subramanian, Filed On: February 9, 2024, Case #: 22-2039-cv, Categories: Antitrust, securities, jurisdiction
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J. Maddox denies a self-represented citizen’s renewed motion for default judgment, for lack of personal jurisdiction, in his trademark suit against two financial companies that created a cryptocurrency called Dibcoin. The citizen fails to show that the reversal decision arises from a specific Dibcoin transaction, and the trademark registration makes no mention of these transactions. The citizen has 30 days to file a motion for transfer.
Court: USDC Maryland, Judge: Maddox, Filed On: November 3, 2023, Case #: 1:20cv2504, NOS: Trademark - Property Rights, Categories: securities, Trademark, jurisdiction
[Consolidated.] J. Bennett grants Under Armour’s motion to dismiss allegations of misrepresentations to the company’s shareholders about its performance and consequent loss in sales. The shareholders collectively filed putative actions for alleged violations of securities laws because the company and its executives hid the company’s losses from shareholders. However, these actions are pending, so the company’s dismissal is granted until the actions are resolved. Also, the court does not have subject matter jurisdiction until those actions are resolved.
Court: USDC Maryland, Judge: Bennett, Filed On: September 27, 2023, Case #: 1:20cv3390, NOS: Stockholders’ Suits - Contract, Categories: Civil Procedure, securities, jurisdiction
J. Pitman denies a broker’s motion to dismiss a lawsuit brought by financial regulators over his role in an alleged “massive fraudulent binary options trading scheme.” The broker, a Canadian, argued this court did not have jurisdiction, but the broker absolutely had sufficient contacts in the United States to give federal courts jurisdiction, including because he “singled out customers in the United States.”
Court: USDC Western District of Texas , Judge: Pitman, Filed On: August 15, 2023, Case #: 1:20cv908, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Fraud, securities, jurisdiction