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SAC's ONLINE LITIGATION ALERT: 2018-30 (08/06/2018)
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Arbitration

• Gupta vs. Morgan Stanley Smith Barney, LLC ▶
No. 17 C 8375 (N.D. Ill., 5/9/18)

While an employee’s silence in the face of an email from his employer purporting to impose an arbitration requirement may be deemed binding acceptance, the employee's affirmative denial that he received the email during his employment creates a fact issue that requires a trial on the employer’s motion to compel arbitration.
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• Fiorilla vs. Citigroup Global Markets, Inc. ▶
No. 17-cv-5123 (S.D. N.Y., 6/25/18)

A federal court lacks jurisdiction to challenge an Award vacatur by a state court under the Rooker-Feldman doctrine.
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Business & Employment

• Federal Insurance Co. vs. COR Clearing, LLC ▶
No. 8:16-CV-557 (D. Neb., 7/25/18)

Payments made to settle claims with third parties for the third parties’ losses are not “directly caused” by the employee causing those losses, within the meaning of an insurance bond.
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• Daugherty vs. Highland Capital Mgmt., L.P. ▶
No. 2017-0488 (Del. Chanc., 6/29/18)

*Absent extraordinary circumstances, a claim brought in Delaware Chancery Court that would be barred by a statutory limitations period if brought at law will be barred by analogy based on laches. **Claims for indemnification of fees incurred in defending an action do not accrue until the action is finally concluded.
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Class Actions

• Stoyas vs. Toshiba Corporation ▶
No. 16-56058, 2018 U.S. App. LEXIS 19640 (9th Cir., 7/17/18)

*American Depository Shares or Receipts constitute “securities” within the meaning of the Securities Exchange Act of 1934. **A securities transaction is domestic if either the purchaser incurs irrevocable liability to take and pay for a security or the seller incurs irrevocable liability to deliver a security.
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• Commodity Exchange Inc., Gold Futures and Options Trading Litigation, In Re ▶
No. 14-MD-2548 (S.D. N.Y., 7/25/18)

A Plaintiff may plausibly allege an antitrust conspiracy through direct evidence, such as an express agreement among competitors to fix prices, or through circumstantial evidence and “plus” factors, such as a common motive to conspire, parallel acts against the economic self-interest of the alleged conspirators or evidence of a high level of inter-firm communications.
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Regulatory

• CFTC vs. McCrudden ▶
No. 10-CV-5567 (E.D. N.Y., 5/3/18)

In issuing injunctive relief in enforcement proceedings, courts may extend a ban beyond the trading violations, where a court finds that defendants are not likely to make good faith efforts to comply with restrictions imposed by the court.
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Securities Customers

• Herold vs. Merrill Lynch, Pierce, Fenner & Smith, Inc. ▶
No. 3:17-CV-00395 (E.D. Va., 4/25/18)

The existence of a third-party beneficiary must be found, in clear and definite terms, in the agreement itself; that one is a beneficiary in a decedent's Will does not bear at all on his status with respect to the decedent's brokerage accounts.
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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

Ben Suter
Keesal Young & Logan
San Francisco, CA
    Paul J. Dubow
Arbitrator • Mediator
San Francisco, CA


Pete S. Michaels
Greenberg Traurig LLP
Boston, MA
    Jill I. Gross
Elisabeth Haub School of Law
Pace University
White Plains, NY

Jeremy A. Root
Stinson Leonard Street LLP
Jefferson City, MO



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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