News & Analysis as of

Class Action Motion to Dismiss Financial Services Industry

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
A&O Shearman

District Of New Jersey Dismisses Securities Claim Against Financial Technology Company Based On Failure To Allege A Material False...

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On January 29, 2025, Judge Robert Kirsch of the United States District Court for the District of New Jersey granted a motion to dismiss a securities action asserting claims under Sections 10(b), 20(a), and 20A of the...more

Troutman Pepper Locke

Bank and Loan Servicer Move to Dismiss Purported Class Action Asserting Violations of Georgia Usury Law and RICO

Troutman Pepper Locke on

Recently, Lead Bank and its loan servicer Hyphen, LLC, an online lending platform operating Helix Financial, filed a motion to dismiss a purported class action alleging violations of the Georgia Installment Loan Act (GILA)...more

Troutman Pepper Locke

Judge Dismisses FDCPA Case Alleging Violations Based on Undated Model Validation Notice

Troutman Pepper Locke on

On November 20, a judge for the Southern District of New York granted a motion to dismiss a Fair Debt Collection Practices Act (FDCPA) class-action holding that a simple lack of a date on a model validation notice did not...more

Ballard Spahr LLP

Rhode Island federal court nixes stand-alone class action waiver

Ballard Spahr LLP on

A Rhode Island federal district court recently refused to enforce a stand-alone class action waiver in the consumer plaintiff’s automobile lease agreement on the ground that it violates state public policy. The court in...more

Cadwalader, Wickersham & Taft LLP

American Airlines Moves to Dismiss Suit Challenging Inclusion of ESG Funds in Retirement Plan

In August 2023, American Airlines, Inc. moved to dismiss a class action lawsuit filed against the airline for allegedly jeopardizing employees’ retirement savings by investing in environmental, social and governance (ESG)...more

Cadwalader, Wickersham & Taft LLP

SDNY Accepts Argument That Crypto Is Subject to Electronic Fund Transfer Act/Regulation E

In an Opinion and Order issued on February 22, 2023, Judge Denise Cote of the Southern District of New York (“SDNY”) permitted class action plaintiffs to survive a motion to dismiss and proceed against Uphold HQ, Inc. on a...more

Bradley Arant Boult Cummings LLP

Privacy Litigation Updates for the Financial Services Sector: Claims Against Yodlee Survive and Limited Discovery of Envestnet...

In November 2020, Yodlee and its parent company Envestnet filed separate motions to dismiss the class action lawsuit brought over Yodlee’s alleged data collection and use practices. Yodlee’s motion to dismiss argued that...more

Carlton Fields

When Is a Defense “Available”? Avoiding Waiver by Being Bold When Asserting Defenses

Carlton Fields on

It is well known that, at least in the federal system and Florida, a defendant who fails to raise lack of personal jurisdiction in a pre-answer motion to dismiss waives that defense. But there is an exception to this rule: If...more

Robins Kaplan LLP

Financial Daily Dose 8.29.2019 | Top Story: South Korea High Court Could Send Samsung Heir Back to Jail

Robins Kaplan LLP on

A ruling this morning from South Korea’s top court means that Samsung’s de facto leader, its vice chair and chaebol heir Lee Jae-yong, could be heading back behind bars. The high court found that a lower appeals court “had...more

Carlton Fields

Fifth Circuit Finds Waiver Of Arbitration Where Motion To Dismiss Argued Merits, Omitted Mention Of Arbitration, And Created...

Carlton Fields on

A consumer (Forby) filed a proposed class action in Illinois state court alleging that One Technologies, L.P. (One Tech) failed to adequately disclose that consumers who accessed their “free” online credit score on the...more

Womble Bond Dickinson

Going Back to Cali: Class Claims Brought by California Resident in Florida Dismissed For Lack of Jurisdiction, While Claims by...

Womble Bond Dickinson on

Yesterday, two Plaintiffs encountered a divergent result as to the fate of their TCPA class action claim at the pleading stage. In Pagano v. Quicken Loans, Case No. 3:18-cv-117-J-20JBT, 2018 U.S. Dist. LEXIS 120933 (M.D....more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

Carlton Fields on

REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

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