The Ninth Circuit Hammers Out a New Successorship Liability Test Under the MPPAA

The Ninth Circuit, in Resilient Floor Covering Pension Trust Fund Board of Trustees v. Michael’s Floor Covering, Inc., Case No. 12-17675 (9th Cir. Sept. 11, 2015), joined the Seventh Circuit in finding that an asset purchaser, if a successor, can be liable for withdrawal liability triggered as a result of the sale.

Guest Post: Supreme Court Declines to Consider Second Circuit’s Landmark Insider Trading Ruling

By | The D&O Diary | October 6, 2015

Yesterday, the United States Supreme Court declined to hear the petition for a writ of certiorari (the “Petition”)  filed by the United States Department of Justice (“DOJ”) in United States v. Newman, 773 F.3d 438 (2d Cir. 2014), a landmark decision that dismissed indictments against two insider trading defendants.

Illinois Supreme Court Holds No Explanation Necessary in Order Denying Sanctions

By | The Appellate Strategist | October 6, 2015
Illinois Supreme Court Holds No Explanation Necessary in Order Denying Sanctions

According to Illinois Supreme Court Rule 137, an attorney’s signature on a pleading certifies that to the best of his or her knowledge, information and belief “it is well grounded in fact and is warranted by existing law or a good-faith argument for the extension, modification, or reversal of existing law, and that it is not interposed for any improper purpose.”

Tenth Circuit Holds That Implied Duty to Investigate and Initiate Settlement Negotiations Does Not Extend to Excess Insurer

The United States Court of Appeals for the Tenth Circuit has held that while a primary insurer may owe its insured a duty to initiate settlement discussions under Oklahoma law, that duty does not extend to an excess insurer prior to exhaustion of the underlying coverage.