© Max Kennerly. The original for this post is Never Trust A Vampire Squid: Merger Clauses & Fraudulent Inducement at Litigation & Trial Lawyer Blog.

Rolling Stone’s Matt Taibbi described Goldman Sachs as “a great vampire squid wrapped around the face of humanity,” a phrase that, while defamatory of a uniquely adapted cephalopod minding its own business 3,000 feet under the sea, rang true. Yesterday, the intermediate appellate court for New York state agreed: Goldman Sachs is so obviously dishonest … Continue reading

The Beginning of the End for Wage & Hour Class Actions Through Arbitration Agreements? Second Circuit Sets Stage

Suppose you have your employees’ sign agreements to arbitrate all of  their employment disputes.  (I’ve talked about arbitration agreements in many posts before.) Can you have an arbitration agreement that says that an employee is precluded from bringing a Title VII (race or gender discrimination) class action claim in Court? Employees have argued that because most arbitration agreements... Continue Reading

Since Concepcion, the plaintiffs’ bar has been exhorting courts to recognize exceptions to its holding that courts may not refuse to enforce an arbitration agreement on the ground that it precludes class actions.  In the employment context, the plaintiffs’ bar thought that it had a winner with Chen-Oster v. Goldman Sachs,  in which a magistrate... Continue Reading
In an October 18, 2012, decision by Justice Kornreich, the court granted in part and denied in part defendant’s motions to compel arbitration and to dismiss the complaint.  Plaintiff-mutual fund sued defendant-investment bank in connection with the purchase of a certain mortgage-backed securities.  Plaintiff alleged that it was induced to purchase the products through false... Continue Reading