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Case Summaries

[02/17] Rotskoff v. Cooley
Jury verdict against defendant on claims of conspiracy to defraud and violations of the Securities Act is affirmed over claims of error regarding sufficiency of the evidence, jury instruction, and denial of a motion for a directed verdict. Defendant waived his argument concerning the sufficiency of the evidence by failing to brief it; jury instruction concerning securities fraud was not plainly erroneous; where choice-of-law issue was close, district court did not err in instructing the jury on California law.

[02/14] Financial Acquisition Partners LP v. Blackwell
Dismissal of a complaint in a putative class action for securities fraud pursuant to the Private Securities Litigation Reform Act (PSLRA) is affirmed over challenges regarding: 1) a finding on collateral estoppel; 2) the striking of certain opinions from an expert's affidavit; 3) the PSLRA's pleading requirements; and 4) denial of leave to amend the complaint.

[02/13] IFC Interconsult, AG v. Safeguard Int'l Partners, LLC
Denial of summary judgment for plaintiff on its garnishment action brought in connection with a confirmation of an arbitration award in a contract case is reversed where ancillary jurisdiction could properly be exercised over the garnishment action, and summary judgment for plaintiff should have been entered.

[02/13] U.S. Bank v. United Airlines
Where state law holds that a trustee's duties and obligations are strictly defined by and limited to the terms of the underlying trust agreement, title to funds held in trust passes to a beneficiary under the terms of the agreement, and trustees lack unfettered discretion to disburse such funds held in trust.

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