Tuesday, May 4, 2021
On April 20, 2021, the United States District Court for the Southern District of Florida dismissed a securities class action complaint against Norwegian Cruise Lines (“NCL”) relating to the company’s disclosures made as the coronavirus pandemic was starting to unfold in the United States. In
Douglas v. Norwegian Cruise Lines, et al., the court found the plaintiff failed to plead actionable misstatements or omissions and scienter for a claim of securities fraud under Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 promulgated thereunder.
Thanks to the court’s thorough analysis, this decision serves as a useful overview to those wishing to cruise through the sea of corporate puffery, forward-looking statements, and scienter in the federal securities laws.
Posted: May 04, 2021 1:52 PM ET | Last Updated: May 5
Comic creators Ben and Raymond Lai are suing Marvel Entertainment for a second time, for what they claim are striking similarities between Iron Man and characters they designed in the early 2000s. (Marvel Entertainment)
This line of inquiry is problematic for many reasons. For one, it is the modern equivalent of the popular, last-century version of asking a Catholic politician, on the verge of taking public office, whether he or she will pledge loyalty to the pope or the constitution .
When Mr Biden announced he would nominate Mr Quraishi, it was presented as an effort to ensure that the federal judiciary reflected the “full diversity of the American people”.
Mr Quraishi s career shows him to be a deeply established figure: 21 years as a federal prosecutor and as a defence attorney and a US military officer. Yet, Senator Dick Durbin felt the need to ask Mr Quraishi about Sharia law , even though he said he was almost embarrassed to do, but felt he had to because it was likely to come up at some point . Senator Durbin may have meant well, but the question just shows how deep-seated some problems still are.
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A South Carolina restaurant manager who enslaved a Black employee with an intellectual disability for more than half a decade has been ordered to pay $546,000 in restitution.
Bobby Paul Edwards, 56, was originally ordered to pay John Christopher Smith $272,952.96 in restitution for thousands of hours of unpaid work he did during his employment as a dishwasher at J&J Cafeteria in Conway, South Carolina.
On April 21, a South Carolina court ruled Edwards must now pay double what he initially owed. The United States District Court of Appeals for the Fourth Circuit ruled a previous court’s ruling “had erred” in not paying out the full amount, according to federal labor laws.