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FDIC Lawsuits Against Failed Banks Surged in 2013: Report
March 11, 2014
Director and officer litigation by the Federal Deposit Insurance Corporation against financial institutions that failed during the financial crisis spiked last year, according to a new report, due to the large number of failures in 2009 and 2010. And now, the outcome of those lawsuits could redefine the relative negotiating strength of the FDIC as well as the defendants going forward. Of the 297 financial institutions that failed in 2009 and 2010, nearly 40% have either been the subject of an FDIC...
March 11, 2014
Director and officer litigation by the Federal Deposit Insurance Corporation against financial institutions that failed during the financial crisis spiked last year, according to a new report, due to the large number of failures in 2009 and 2010. And now, the outcome of those lawsuits could redefine the relative negotiating strength of the FDIC as well as the defendants going forward. Of the 297 financial institutions that failed in 2009 and 2010, nearly 40% have either been the subject of an FDIC...
Cross-Border Litigation Is Big, Getting Bigger
March 11, 2014
Legal disputes that take place in multiple national jurisdictions or between parties based in different countries are posing challenges for corporate boards, chief executive officers and general counsel, according to a survey of about 150 global general counsel and chief legal officers. But these complex and costly cross-border disputes are expected to grow significantly in the coming years, according to "Global Currents: Trends in Cross-Border Disputes," conducted by Hogan Lovells. “More...
March 11, 2014
Legal disputes that take place in multiple national jurisdictions or between parties based in different countries are posing challenges for corporate boards, chief executive officers and general counsel, according to a survey of about 150 global general counsel and chief legal officers. But these complex and costly cross-border disputes are expected to grow significantly in the coming years, according to "Global Currents: Trends in Cross-Border Disputes," conducted by Hogan Lovells. “More...
RI: Medical Apology Bill Introduced
March 10, 2014
Attempting to join many other states, several state representatives in Rhode Island have introduced a medical apology bill. Like many of those states, including PA (where a bill introduced by my state senator, Pat Vance, passed unanimously in 2013), the bill would exclude expressions of benevolence, but not full admissions of fault. A copy of the short bill is here.
March 10, 2014
Attempting to join many other states, several state representatives in Rhode Island have introduced a medical apology bill. Like many of those states, including PA (where a bill introduced by my state senator, Pat Vance, passed unanimously in 2013), the bill would exclude expressions of benevolence, but not full admissions of fault. A copy of the short bill is here.
Effective Mediation and Settlement Techniques: How Do You Convince the Other Side It’s Wrong?
March 10, 2014
When each side is convinced it is right, how do you convince the other to settle for what you consider reasonable consideration,...
March 10, 2014
When each side is convinced it is right, how do you convince the other to settle for what you consider reasonable consideration,...
Second Circuit Vacates Denial of CitiBank’s Motion to Compel Arbitration
March 10, 2014
On appeal from the S.D.N.Y., Citibank challenged the district court’s denial of Citibank’s motion to compel arbitration and decision that the agreement to arbitrate was not binding on the parties. The S.D.N.Y. concluded that Signature Cards signed by appellees when opening their accounts with Citibank did not incorporate by reference the Client Manual, which contains the arbitration agreement. The Second Circuit vacated the district court judgment and remanded for further proceedings because...
March 10, 2014
On appeal from the S.D.N.Y., Citibank challenged the district court’s denial of Citibank’s motion to compel arbitration and decision that the agreement to arbitrate was not binding on the parties. The S.D.N.Y. concluded that Signature Cards signed by appellees when opening their accounts with Citibank did not incorporate by reference the Client Manual, which contains the arbitration agreement. The Second Circuit vacated the district court judgment and remanded for further proceedings because...
Federal Securities Class Action Filings Grew 10% in 2013
March 10, 2014
Two recent reports, one by NERA Economic Consulting, and the other by Cornerstone Research, indicate that the number of securities class actions filed by plaintiffs in the federal courts grew by approximately 9-10% in 2013 as compared with 2012. The two reports use different classification schemes, and consequently list different total numbers of filings (234 according to NERA, 166 according to Cornerstone), but they both agree that filings have risen significantly over the previous year. ...
March 10, 2014
Two recent reports, one by NERA Economic Consulting, and the other by Cornerstone Research, indicate that the number of securities class actions filed by plaintiffs in the federal courts grew by approximately 9-10% in 2013 as compared with 2012. The two reports use different classification schemes, and consequently list different total numbers of filings (234 according to NERA, 166 according to Cornerstone), but they both agree that filings have risen significantly over the previous year. ...
How to Tell if Someone Is Lying
March 10, 2014
Researchers in the academic, business, and military communities have spent years trying to uncover a few simple methods for detecting trustworthiness but, despite their best efforts, continue to come up short. All those books promising to teach you how to spot liars through body language? None has empirical support. The temptation, of course, is to look for one “tell” that indicates someone can’t be trusted. Is it a false smile? Shifty eyes? The reality, though, is that any single cue is ambiguous....
March 10, 2014
Researchers in the academic, business, and military communities have spent years trying to uncover a few simple methods for detecting trustworthiness but, despite their best efforts, continue to come up short. All those books promising to teach you how to spot liars through body language? None has empirical support. The temptation, of course, is to look for one “tell” that indicates someone can’t be trusted. Is it a false smile? Shifty eyes? The reality, though, is that any single cue is ambiguous....
The New York Times is Creating a New Data-Driven Journalism Venture
March 9, 2014
The New Republic has this story: [David] Leonhardt will take over a new Times website located “at the nexus of data and news [that] will produce clear analytical reporting and writing on opinion polls, economic indicators, politics, policy, education, and sports” Initial contributors will include Nate Cohn, Justin Wolfers, Amanda Cox and Michael Beschloss. We’re happy at The Monkey Cage to see this get off the ground. Political and policy journalism is going through a quiet transformation,...
March 9, 2014
The New Republic has this story: [David] Leonhardt will take over a new Times website located “at the nexus of data and news [that] will produce clear analytical reporting and writing on opinion polls, economic indicators, politics, policy, education, and sports” Initial contributors will include Nate Cohn, Justin Wolfers, Amanda Cox and Michael Beschloss. We’re happy at The Monkey Cage to see this get off the ground. Political and policy journalism is going through a quiet transformation,...
OUTERNET: Company Plans to Beam Free Wi-fi to Everyone from Space
March 9, 2014
You might think you have to pay through the nose at the moment to access the Internet. But one ambitious organisation called the Media Development Investment Fund (MDIF) is planning to turn the age of online computing on its head by giving free web access to every person on Earth. Known as Outernet, MDIF plans to launch hundreds of satellites into orbit by 2015. And they say the project could provide unrestricted Internet access to countries where their web access is censored, including...
March 9, 2014
You might think you have to pay through the nose at the moment to access the Internet. But one ambitious organisation called the Media Development Investment Fund (MDIF) is planning to turn the age of online computing on its head by giving free web access to every person on Earth. Known as Outernet, MDIF plans to launch hundreds of satellites into orbit by 2015. And they say the project could provide unrestricted Internet access to countries where their web access is censored, including...
Call for Works-In-Progress Submissions
March 9, 2014
Dear colleagues I thought that you might be interested to learn that the University of Missouri is issuing a call for proposals for an upcoming works-in-progress conference as well as a call for papers for a student writing competition. Both of these calls are affiliated with a symposium that is being convened at the University of Missouri's Center for the Study of Dispute Resolution on Friday, October 10, 2014. The symposium is entitled "Judicial Education and the Art of Judging: ...
March 9, 2014
Dear colleagues I thought that you might be interested to learn that the University of Missouri is issuing a call for proposals for an upcoming works-in-progress conference as well as a call for papers for a student writing competition. Both of these calls are affiliated with a symposium that is being convened at the University of Missouri's Center for the Study of Dispute Resolution on Friday, October 10, 2014. The symposium is entitled "Judicial Education and the Art of Judging: ...
