In its October 2025 Term, the Supreme Court will decide whether Section 47(b) of the Investment Company Act of 1940 (“ICA”) creates a federal cause of action for private plaintiffs seeking rescission of contracts that are...more
7/17/2025
/ Appeals ,
Breach of Contract ,
Contract Disputes ,
Enforcement ,
Investment Company Act of 1940 ,
Investment Funds ,
Litigation Strategies ,
Private Right of Action ,
Rescission ,
SCOTUS ,
Securities Litigation ,
Securities Regulation ,
Shareholder Litigation ,
Shareholders
The First Department’s recent decision in Zhang Chang v. Phillips Auctioneers LLC seems to have ended the long, turbulent dispute over Gerhard Richter’s 1963 painting of a fighter jet, Düsenjäger. The decision affirmed the...more
In an earlier post, we reported that beginning January 2022 all oral arguments in the First and Second Departments would be conducted virtually out of concern for the health and safety of the public and court employees. As...more
As the number of new COVID-19 cases reached record levels, the First and Second Departments announced that beginning January 2022, and until further notice, oral arguments will be conducted virtually. The return to remote...more