U.S. High Court To Clarify Liability For Omitting Interim Financial Data
WASHINGTON, D.C. — The U.S. Supreme Court on Nov. 13 granted a petition for a writ of certiorari filed by Robinhood Markets Inc., its executives and directors and underwriters in a dispute over the firm’s alleged failure to disclose deteriorating financial performance before its initial public offering but limited to the question, “Whether an issuer can be found liable under the misleading-omissions prong of Section 11(a) of the Securities Act of 1933, 15 U.S.C. 77a et seq., based on a determination that the issuer failed to disclose interim financial information that is material within the meaning of Section 11(a), without an additional inquiry to determine whether the omission rendered any affirmative statement misleading.”
U.S. Supreme Court Will Hear 2 Questions In Noncitizen Removal Class Case
WASHINGTON, D.C. — The U.S. Supreme Court on Nov. 13 granted a petition for a writ of certiorari filed by the secretary of the Department of Homeland Security (DHS) and other federal government parties in a noncitizen removal class case concerning the lawfulness of a presidential proclamation that limited asylum and withheld removal applications and the availability of classwide relief, but limited consideration to two of the three questions presented in the petition.
Gov’t, Patent Owner Say High Court Should Reject Apple’s Patent Petition
WASHINGTON, D.C. — In a Nov. 12 response to Apple Inc.’s petition for a writ of certiorari, the U.S. government tells the U.S. Supreme Court that it should deny the technology giant’s petition in which it argues that a Federal Circuit U.S. Court of Appeals panel’s opinion may have weakened a requirement that limits the power of the U.S. International Trade Commission (ITC) when the panel found that the ITC did not err when it held that Apple violated the Tariff Act by importing and selling Apple Watch models that infringed blood oxygenation patents held by other technology entities. The government says that research and development labor can be used to establish a domestic industry and it rejects Apple’s argument that the Federal Circuit supplied reasoning not used by the ITC.
Illinois Panel Affirms Dismissal Of Coverage Suit Arising From Wrongful Death
CHICAGO — An Illinois appeals panel on Nov. 12 affirmed a lower court’s dismissal of an insurer’s lawsuit disputing coverage for an underlying wrongful death and negligence action arising from the death of an elderly assisted-living facility resident, holding that a letter the decedent’s estate sent to the insureds before filing the underlying lawsuit was a timely “claim” under the policy.
Nonprofits Sue AI Companies To Block Feared Technological ‘Catastrophe’
SAN FRANCISCO — Four nonprofit organizations on Nov. 12 filed a complaint in California state court against the largest U.S. AI companies seeking an immediate injunction forbidding them from developing and deploying “more capable AI systems,” writing that the companies have developed AI technology without adequate safeguards against the “catastrophic risk” of advanced AI in violation of California’s unfair competition law (UCL) and urging the court to apply state law to “protect the public.”
Fla. Courts: FIGA Not Liable For Attorney Fees In Prior Insurer Settlements
As of Nov. 12, a series of Florida appellate court rulings has established that generally the Florida Insurance Guaranty Association (FIGA) is not liable for attorney fees regarding settlements that were reached in litigation with insurers before their insolvency. However, recently, appellate courts, in reaching their decisions, have focused on whether settlement proceeds were specifically designated as attorney fees and whether the payment of those fees falls under covered claims for which FIGA is statutorily responsible.
Judge In Hair Relaxer MDL Rules On Exclusion Of More Consumers’ Experts
CHICAGO — A federal judge in Illinois issued a second ruling on Nov. 12 on a May motion to exclude consumers’ experts in a multidistrict litigation in which those consumers allege wrongful death and other injuries from endocrine-disrupting chemicals (EDCs) in chemical hair relaxers (CHRs), granting the exclusion of two experts and denying the exclusion of four others.
5th Circuit Panel Affirms Judgment For Homeowners Insurer In Fire Damage Suit
NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals affirmed a district court’s grant of summary judgment to a homeowners insurer in a fire loss coverage dispute after determining that the insured failed to show that a genuine issue of material fact exists regarding the insurer’s coverage decision and loss estimates.
Insurer Liable To Assignee Under Stowers Doctrine, 5th Circuit Affirms
NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on Nov. 11 affirmed a lower federal court’s grant of summary judgment in favor of an assignee on his Stowers claim against an employment practices liability insurer, holding that the policy covered the assignee’s underlying breach of contract claim against the insured and the insurer is therefore liable to the assignee under the Stowers doctrine.
6th Circuit Affirms Denial Of Relief From Releases In East Palestine Train Pact
CINCINNATI — A Sixth Circuit U.S. Court of Appeals panel upheld a trial court’s denial of Federal Rule of Civil Procedure 60 motions for relief from the personal injury payment releases filed by class members who settled claims over a chemical release that occurred after a train derailed in Ohio in February 2023, opining that settlements require compromise and that the appellant class members failed to show that there was a basis for such “extraordinary relief.”
U.S. Supreme Court Won’t Review Array Of Age, Race Workplace Discrimination Suits
WASHINGTON, D.C. — The U.S. Supreme Court denied four unrelated petitions for writs of certiorari seeking review of claims including age discrimination, race discrimination and retaliation stemming from workplace terminations or resignations asserted by a Dallas teacher, a Mississippi television anchor, a Connecticut facilities manager and a Boston technology support representative.