21 results for 'judge:"Rakoff"'.
J. Rakoff grants the borrower's motion to dismiss the lender's claim for breach of the implied covenant of good faith in a dispute over the repayment of a $4.3 million loan, but denied the motion to dismiss the breach of contract claim. The complaint adequately alleges the lender complied with its contractual obligation to negotiate in good faith, and the lender showed it suffered damages. However, the breach of implied covenant claim is duplicative of the breach of contract claim.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: April 25, 2024, Case #: 1:23cv11230, NOS: Other Contract - Contract, Categories: Banking / Lending, Contract
J. Rakoff finds that the district court properly granted class certification in a consumer class action concerning the marketing of the pet health product Cosequin. The class expert's proposed damages model was sufficiently sound and developed to satisfy this standard at the class certification stage. Affirmed.
Court: 9th Circuit, Judge: Rakoff, Filed On: April 22, 2024, Case #: 22-55744, Categories: Damages, Product Liability, Class Action
J. Rakoff finds that the lower court properly denied an exhibit's motion to dismiss class claims that it violated the New York Arts and Cultural Affairs Law by failing to disclose the total cost of tickets, including ancillary fees. The voluntary payment doctrine does not bar this suit because the $8.99 added to the attendee's ticket price on the final purchase screen did not disclose how much of the fees was allocated to taxes versus fees.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: April 19, 2024, Case #: 1:24cv322, NOS: Other Fraud - Torts - Personal Property, Categories: Fraud, Consumer Law
J. Rakoff denies summary judgment to both parties in this insurance coverage dispute. Water pipes burst in two units of two contiguous commercial properties during a winter storm, and the insured filed a claim for resulting water damage. The insurer denied the claim citing an exclusion to the insurance contract that stipulates the insured must make “best efforts to maintain heat.” The insured argues every effort was made to maintain heat in the buildings, but the insurer claims one unit used no gas for a three month period implying heat was not maintained. Both parties argue the ambiguity of the contract language, which the instant court finds should be sorted out at trial. Because no overwhelming evidence was presented in favor of either party, summary judgment is denied.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: April 8, 2024, Case #: 23cv6437, NOS: Insurance - Contract, Categories: Insurance, Contract
[Consolidated.] J. Rakoff grants the banks' motion to dismiss seven securities class actions alleging the banks sold billions of dollars of securities before the news publicly broke that their client, Archegos Capital Management, had engaged in market manipulation of these issuers. The investors have not alleged that Archegos shared the issuers' confidential information, so they cannot assert an insider trading theory.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: April 1, 2024, Case #: 1:21cv8413, NOS: Securities/Commodities/Exchange - Other Suits, Categories: Securities, Class Action
Want access to unlimited case records and advanced research tools? Create your free CasePortal account now. No credit card required to register.
Try CasePortal for Free
J. Rakoff finds for Aetna in a breach of contract suit filed by a plastic surgery clinic that alleges the insurer backed out of its promise to reimburse 80% of a patient's breast reduction surgery costs. It is plain from the transcript of the clinic's telephone call with an insurer that the representative was merely recounting the patient's scope of coverage, and no one could understand that to be an offer to pay a particular amount to the clinic.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: December 11, 2023, Case #: 1:23cv8521, NOS: Other Contract - Contract, Categories: Insurance, Contract
J. Rakoff certifies a class of investors who held Class A shares in the defendant corporation who claim they are entitled to a pro rata distribution of a termination fee the company received from another company with which a planned merger failed. The investors had no duty to mitigate their damages because they do not seek any additional damages, only the distribution of a fee paid to the company. The firm Morris Kandinov LLP is appointed as class counsel.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: November 1, 2023, Case #: 1:22cv10986, NOS: Stockholders’ Suits - Contract, Categories: Securities, Class Action
J. Rakoff finds the manager liable for leading a scheme to defraud small businesses via financing arrangement called a "merchant cash advance" agreement, including threatening business owners with violence if they did not repay the loans. However, further litigation is needed to determine the correct sum of compensatory damages and civil penalties.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: September 27, 2023, Case #: 1:20cv4432, NOS: Other Statutory Actions - Other Suits, Categories: Fraud, Damages, Banking / Lending
J. Rakoff finds for the insurer in a dispute over its failure to pay rent on three units occupied by policyholders for 1.5 years after their home was nearly destroyed. The insurer promised to pay the tenants' rent for six months - which it did - and thereafter on a month-to-month basis, but did not defraud the landlord by failing to inform it that the insurer was challenging the tenants' policy claim in separate litigation.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: August 30, 2023, Case #: 1:22cv5582, NOS: Other Contract - Contract, Categories: Insurance, Contract
J. Rakoff finds for the lenders in a RICO and fraud suit filed by an urgent care facility related to six merchant cash advance agreements. Under North Carolina law, the transactions are not unlawful, as its usury statute does not apply to loans greater than $25,000.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: August 28, 2023, Case #: 1:22cv1245, NOS: Racketeer Influenced and Corrupt Organizations (RICO) - Other Suits, Categories: Banking / Lending, Racketeering
J. Rakoff denies third-party defendant James Staley's motion to dismiss JPMorgan's claims against him alleging that Staley, who was the head of JPMorgan’s private banking division when Jeffrey Epstein first became its client, concealed Epstein's sex trafficking operation. JPMorgan’s fiduciary duty claim stands because Staley continued to do business with Epstein until 2013, before which he actively worked to convince JPMorgan to keep Epstein as a client despite JPMorgan wanting to sever ties with him. Staley's conduct ultimately caused JPMorgan damage when the public became aware of Epstein's sex trafficking operation.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: August 18, 2023, Case #: 1:22cv10904, NOS: Other Statutory Actions - Other Suits, Categories: Fiduciary Duty, Racketeering
J. Rakoff grants in part and denies in part a company’s motion to dismiss an employment and contract dispute. The employee provided consulting services for the company in exchange for a monthly salary and a 15 percent membership interest in the company. The employee claims he was wrongly terminated after he requested a tax distribution allegedly owed to him under the terms of the parties’ Operating Agreement, and he was expelled resulting in forfeiture of his membership interest. The employer's motion to dismiss allegations of breach of the Operating Agreement, breach of implied good faith and fair dealing, alleged conversion, demand of an accounting and unenforceable contractual provisions is granted. The employee is granted leave to amend his breach of Operating Agreement claim.
Court: USDC Southern District of New York, Judge: Rakoff, Filed On: July 24, 2023, Case #: 1:23cv1621, NOS: Employment - Civil Rights, Categories: Employment, Fiduciary Duty, Contract
J. Rakoff denies The Four Seasons hotel's motion to compel arbitration and to strike class allegations in this suit brought by employees who were placed on indefinite furlough pursuant to Covid-19 protocols. Factual allegations suggest that the employees were subject to an effective permanent layoff, lasting longer than 6 months. Such claims are contractually exempt from mandatory arbitration. A class-action waiver cited by the hotel is not applicable.
Court: USDC Southern District of New York, Judge: Rakoff , Filed On: July 5, 2023, Case #: 1:22cv6781, NOS: Other Labor Litigation - Labor, Categories: Arbitration, Employment, Covid-19
J. Rakoff finds that the district court properly determined that an inmate's claims for injunctive relief were moot because two of the named wardens in the matter were no longer in position to grant relief regarding the inmate's challenge of a phone time limit, claiming the limit unconstitutionally infringed on his First and Fifth Amendment rights to familial association with his three children. However, the lower court incorrectly dismissed the matter on the alternative ground that the inmate failed to state a claim. Affirmed in part.
Court: 9th Circuit, Judge: Rakoff , Filed On: July 3, 2023, Case #: 21-15073, Categories: Prisoners' Rights