To print this article, all you need is to be registered or login on Mondaq.com.
This week, we examine a pair of Ninth Circuit decisions
addressing when opinions are materially false under securities law,
and what a plaintiff must plead to
establish
The Ninth Circuit holds that statements of opinion can be
materially false, and thus actionable under SEC Rule 14-a9, where
they convey misleading information about the speaker s basis
for holding that view.
The Panel: Judges Fernandez,
Wardlaw, and Collins, with Judge Wardlaw writing the
opinion.
Key highlight:
Omnicare s elucidation of what facts a statement of opinion may convey and the
This Week at the Ninth: Falsity and Fiduciaries | Morrison & Foerster LLP - Left Coast Appeals
jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
New Labor Department guidance seems to strengthen fiduciary exemption
financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
Michigan Attorney General
Dana Nessel joined a coalition of 22 attorneys general in urging the
U.S. Court of Appeals for the Fifth Circuit to protect states historic power to regulate insurance and protect their residents from fraud, abuse, or substandard health coverage.
The coalition filed the brief in
Data Marketing Partnership v.
U.S. Department of Labor, a case that challenged the
Department of Labor s conclusion that a scheme-under which users obtain health insurance in exchange for sharing data as they browse the internet-failed to qualify as an employee benefit plan under the Employee Retirement Income Security Act.
The Department of Labor got it right. This type of scheme is not an employee benefit plan, and characterizing it as one allows bad actors to skirt state-level regulations that are vital to protecting residents from fraud and abuse in the healthcare industry, Nessel said. I join my colleagues in defending states rights to regulate health insu