We Told You So: Illegal Bank Records Update

We Told You So: Illegal Bank Records Update

Lo and behold, not four days after we wrote our last post on the illegality of obtaining bank records, a postcard appeared in our mailbox promising “statewide bank searches” for under $300.  I was intrigued.  I thought, maybe they know something we don’t and they’ve found a legal way to find banking information. 

Fourth Circuit Affirms Dismissal of Securities Fraud Complaint Where Inference of Scienter Was Not Sufficiently Strong

In Yates v. Municipal Mortgage & Equity, LLC, No. 12-2496 (4th Cir. Mar. 7, 2014), the United States Court of Appeals for the Fourth Circuit affirmed the dismissal of a securities fraud claim under Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. § 78(b), against defendant Municipal Mortgage & Equity (“MuniMae”) and its individual officer and director defendants.