The economic loss doctrine prevents a plaintiff from recovering purely economic losses via a tort action (i.e., a negligence claim) in the absence of personal injury or damage to “other property.” One court has described the economic loss doctrine as “prohibit[ing] plaintiffs from recovering in tort economic losses to which…
The borrowing relationship of debtor and creditors is at the heart of the American economy, and therefore the subject of many lawsuits. In the case of Atlantic Stewardship Bank v. Puddingstone Funding, LLC, (2013 WL 5777539) the New Jersey’s Appellate Division held that the amount of the outstanding debt the…
Reversing the trial court’s order granting summary judgment in favor of the insurer in a declaratory judgment action brought by the insured, the Superior Court in Lanigan v. T.H.E. Insurance Company, No. 646 WDA 2013, (Pa. Super. March 14, 2014) held that the insurer breached its duty to defend the…
Whistleblower protections continue to expand with the recent U.S. Supreme Court decision in Lawson v. FMR LLC, which ruled that the anti-retaliation protection provided to whistleblowers by the Sarbanes-Oxley Act of 2002 (“SOX”) applies to employees of private companies that contract with public companies. Enactment of SOX was prompted by…
In a blast from the past and a shout out to movie buffs everywhere, the widow of John DeLorean is in litigation against a company from Texas associated with her husband’s legendary car famously featured in the Back to the Future films. According to Sally DeLorean, DeLorean Motor Company in…
The State University of New York has reached a deal with unions and Northern Brooklyn community groups regarding the future of its Long Island College Hospital. In February of 2013, SUNY’s board of trustees voted to close the hospital and were seeking sell the property to (likely one of four)…
It seems the U.S. Securities and Exchange Commission is one of the busiest federal agencies lately, as it brought down the hammer once again, this time obtaining a $2.5 million penalty from Scottrade, Inc. by way of settlement…… SEC Alert: Scottrade $2.5MM Settlement It seems the U.S. Securities and Exchange…
On February 10, 2014, the Third Circuit Court of Appeals affirmed a lower federal court’s jury verdict of insider trading against Alfred Teo and a trust he controlled. Alfred Teo Sr., a former shareholder in Musicland Stores Corp….. SEC Insider Trading Alert: Teo’s Musicland Insider Trading Appeal Unsuccessful On February 10,…
The United States continues to make great strides in whistleblower protection as the world super power recently made demands regarding protection on the world stage. The United States was prompted into action as a result of United Nations officials taking retaliatory measures against a former United Nations employee who blew the…
Another day, another whistleblower claim, as increased action continues on qui tam front. A bus driver named Robert Dukin drove for the Mount Olive school district from 2007 to 2010 but he claims he was let go for reporting unsafe working conditions of his vehicle. Dukin v. Mount Olive Twp. Bd. of Ed. came…