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SAC's ONLINE LITIGATION ALERT: 2019-42 (11/04/2019)
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Arbitration

• Sayre vs. JP Morgan Chase & Co. ▶
Nos. 18-55411 & -55412 (9th Cir., 10/24/19)

An Award may be vacated, if the arbitrators arbitrarily denied a reasonable request for postponement.
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Business & Employment

• Coit Capital Securities, LLC vs. Turbine Asset Holdings, LLC ▶
No. 17C-05-020 (Del. Super., 8/21/19)

Counterclaims in a breach of contract action, which are not purely defensive in nature, but seek an affirmative declaration that Letter Agreements at issue are void and enforceable, are subject to applicable statutes of limitation, and those limitation periods are not tolled by the original underlying contract action.
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• Sebastian vs. Swan Wealth Advisors, Inc. ▶
No. 1-018-1496 (Ill. App., 1Dist., 4Div., 6/28/19)

Appellate court reversed trial court’s determination that there was no genuine issue of material fact with regard to employment agreement issues, and its denial of a fact-specific motion to amend complaint.
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Class Actions

• Bridgestone Investment Corporation Ltd. vs. U.S. District Court ▶
No. 19-70031 (9th Cir., 10/8/19)

Should a court in the process of selecting the most adequate lead plaintiff, determine that a candidate is vulnerable to defenses that are unique to its situation, it may exercise its discretion to choose another.
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Securities Customers

• Ironbeam, Inc. vs. Evert ▶
No. 18 C 1287 (N.D. Ill., 10/21/19)

Under Illinois law, a broker does not have a fiduciary duty to a customer with respect to an account over which the broker does not have discretion and has no fiduciary duty to implement risk management protocols to prevent trading losses caused by the customer’s own decisions.
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• Blue Ocean International Bank LLC vs. Golden Eagle Capital Advisors, Inc. ▶
No. 19-1178 (FAB) (D. P.R., 10/3/19)

Court grants a motion to transfer venue pursuant to a forum selection clause, refusing to entertain arguments that the forum was unjust or unreasonable, instead holding that New York is just as reasonable a place to venue the claims as Puerto Rico.
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BOARD OF CONTRIBUTING LEGAL EDITORS

Richard P. Ryder
Editor-in-Chief, SLC

Senior Contributing Editors:          

Jack D. Ballard
Ballard & Littlefield, LLP
Houston, TX


Christopher G. Lazarini
Bass Berry & Sims PLC
Memphis, TN

    Paul J. Dubow
Arbitrator • Mediator
San Francisco, CA


Jeremy A. Root
Stinson Leonard Street LLP
Jefferson City, MO
    Jill I. Gross
Elisabeth Haub School of Law
Pace University
White Plains, NY

Ben Suter
Keesal Young & Logan
San Francisco, CA



Contributing Editors:

David C. Franceski, Jr.
Stradley Ronon
Stevens & Young LLP
Philadelphia, PA

Noah D. Sorkin
Capital Forensics, Inc.
New York, NY
    James L. Komie
Howard & Howard
Chicago, IL


Burton W. Wiand
Wiand Guerra King PL
Tampa, FL



NOTICE: The publisher accepts full responsibility for the summaries presented in this publication and for any views expressed therein. Our Contributing Editors and any law firm or organization with which the Contributing Editors may be affiliated bear no responsibility for the contents of this publication. Moreover, by summarizing a particular decision, a Contributing Editor does not necessarily endorse the holding. To the extent comments or opinions are expressed herein by any editor, such comments or opinions are not necessarily the views of other Contributing Editors or the law firm or organization with which they may be affiliated. Editorial comments and analysis are designed to stimulate thought and convey information of value; they are not intended as, nor do they constitute, legal advice. The decisions summarized herein should not be viewed as authoritative precedent without proper citechecking and adherence to local court rules.
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