Supreme Court Bank Fraud Decision Offers Prosecutors a Second Act in Financial Crisis Prosecutions

By | Subject to Inquiry | July 22, 2014
Supreme Court Bank Fraud Decision Offers Prosecutors a Second Act in Financial Crisis Prosecutions

Amidst a string of high-profile decisions released at the end of the Supreme Court’s most recent term, one under-the-radar decision may have far-reaching effects in the white collar world. Loughrin v. United States dealt with a narrow question of statutory construction in the federal bank fraud statute 18 U.S.C. §1344.

United States Supreme Court Adds Teeth to Bank Fraud Statute

Resolving a split between Federal Circuits regarding the applicability of the federal bank fraud statute, 18 U.S.C. § 1344(2), the United States Supreme Court in Loughrin v. United States has added significant teeth to the statute by ruling that the Government need not prove that a defendant had actual intent to defraud a financial institution in order to secure a conviction thereunder.

Supreme Court Grants Certiorari in Mach Mining LLC V. EEOC to Consider “Failure to Conciliate” Affirmative Defense

Supreme Court Grants Certiorari in Mach Mining LLC V. EEOC to Consider “Failure to Conciliate” Affirmative Defense

On June 30, 2014, the United States Supreme Court granted Mach Mining LLC’s petition for writ of certiorari, agreeing to take up the question of whether and to what extent courts may enforce the Equal Employment Opportunity Commission’s (“EEOC”) duty to conciliate a case prior to bringing a lawsuit.

Halliburton: Deepening the Divide Between Certification of US and Canadian Securities Class Actions

Everyone has been talking about the recent decision from the US Supreme Court in Halliburton Co v Erica P. John Fund Inc (Halliburton) and its rulings regarding the “fraud on the market” doctrine in US securities class action litigation (previously reported on here and here).