HSBC Denied Bid to Dismiss Class Action Lawsuit Over Force-Placed Insurance
As we previously explained in our May blog post, which covered the N.Y.S. Department of Financial Services Probe Into Force-Placed Insurance, in order to obtain a mortgage, lending banks usually...
View ArticleSecond Circuit Determines Arbitration Provision Included in Follow-Up E-mail...
In Schnabel v. Trilegiant Corp., plaintiffs commenced a class action lawsuit in the United States District Court of Connecticut against defendants (Affinion Group, LLC, and its wholly owned subsidiary...
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Update: IndyMac/OneWest Bank Denied Second Bid to Dismiss HAMP Class Action...
On July 27, 2010, plaintiff Stacey Fletcher filed a putative class action complaint alleging that the defendant IndyMac Mortgage Servicers, FSB (a division of OneWest Bank, FSB)(“OneWest”) mishandled...
View ArticleOregon Adopts Fraud-On-The-Market Theory
In Basic Inc. v. Levinson, 485 U.S. 224 (1988), the U.S. Supreme Court adopted the “fraud-on-the-market” theory of reliance, which presumes that investors who bought or sold a security did so in...
View ArticleNew York Supreme Court Denies Carl Icahn’s Motion for Summary Judgment
In May 2010, minority stockholders of XO Holdings, Inc. (“XO”) brought a class action lawsuit against Carl C. Icahn (the Chairman of XO’s Board), his affiliates and members of the XO Board of...
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FHFA Announces New Streamlined Loan Modification Initiative
Last year we posted several blog posts that covered the wave of class action lawsuits relating to the United States Treasury’s Home Affordable Modification Program (“HAMP”), including the Fletcher...
View ArticleOntario Court Recognizes U.S. Approved Class Action Settlement Against IMAX...
On March 19, 2013, Justice van Rensburg of the Ontario Superior Court of Justice issued an important decision relating to overlapping class action proceedings against IMAX Corporation (“IMAX”) that are...
View ArticleCourt Rejects Saxon’s Bid to Dismiss HAMP Class Action Lawsuit
We have another update regarding litigation involving the United States Treasury’s Home Affordable Modification Program (“HAMP”). See some of our HAMP related posts here, here and here. As explained...
View ArticleNinth Circuit Revives HAMP Claims Against Wells Fargo
In Corvello v. Wells Fargo Bank, NA, 11-16234, 11-16242, 2013 WL 4017279 (9th Cir. Aug. 8, 2013) (a copy of the opinion can be found here), the Ninth Circuit reversed the lower Court’s dismissal of...
View ArticleOntario Court Upholds Amendment to IMAX Canadian “Global” Class Certification...
As discussed in a post last year, on March 19, 2013, Justice van Rensburg of the Ontario Superior Court of Justice issued an opinion relating to overlapping class action proceedings against IMAX...
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