News & Insights

CONSEQUENTIAL DAMAGES MUST BE CONTEMPLATED AT THE TIME OF CONTRACT FORMATION IN NEW YORK

In Vermillion v. The Roofing Guys Inc., James Vermillion (“Plaintiff”) appealed an order of the Supreme Court in Onondaga County granting The Roofing Guys, Inc.’s (“Defendant”) motion to preclude testimony or evidence of consequential damages. Vermillion v. Roofing Guys, Inc., 239 A.D.3d 1336, 1336, 232 N.Y.S.3d 867 (2025). After purchasing a residence in Syracuse, Plaintiff…
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COURTS REMAIN UNDECIDED ON HOW TO HANDLE CYBER SECURITY EVENTS

Although the number of cyber security attacks continues to rise, courts are not unified on how insurance policies apply. This is evident by how two cases were decided differently despite the insureds suffering similar cyber security events. In Kane v. Syndicate 2623-623 Lloyd’s of London, 2025 WL 1733046 (N.M. Ct. App. June 16, 2025), a…
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FINRA SUSPENDS BROKER FOR OVERLOADING CLIENT PORTFOLIOS WITH ALTERNATIVE INVESTMENTS

On August 22, 2025, a broker faced a four-month suspension from the securities industry after regulators found he had allocated up to 91% of a client’s net worth into illiquid alternative investments. The broker, based in suburban Dallas, was also fined $10,000.00, according to his BrokerCheck profile. Most firms limit alternative investment allocations to around…
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D.C. CIRCUIT REINSTATES TITLE V EMERGENCY AFFIRMATIVE DEFENSE FOR EXCESS EMISSIONS

The U.S. Court of Appeals for the D.C. Circuit has reinstated the “emergency” affirmative defense under Title V of the Clean Air Act, reversing the Environmental Protection Agency’s (“EPA”) 2023 decision to remove it. For more than three decades, 40 C.F.R. § 70.6(g) allowed permit holders to assert a complete defense against liability when excess…
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BROAD READING OF “ARISING OUT OF” LANGUAGE IN PROFESSIONAL-SERVICES EXCLUSION UPHELD

Last month, the United States District Court for the Southern District of Florida dismissed with prejudice a declaratory judgment action filed by a purported third-party beneficiary against an errors-and-omissions insurer based on application of a professional-services exclusion. See Speckin Forensics, LLC, v. Twin City Fire Ins. Co., No. 9:25-cv-80383-AMC (S.D. Fla. Aug. 8, 2025). Speckin,…
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EMPLOYER LIABILITY EXPANDING UNDER THE TRAFFICKING VICTIMS PROTECTION REAUTHORIZATION ACT (TVPRA)

The Trafficking Victims Protection Reauthorization Act (“TVPRA”) has emerged as a powerful legal mechanism in civil litigation, with its scope now extending well beyond direct perpetrators of human trafficking. Under Section 1595(a) of TVPRA, victims can sue an individual or entity who “knowingly benefits, financially or by receiving anything of value, from participation in a…
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MASSACHUSETTS SUPREME COURT RULES PLAINTIFF’S CLAIM AGAINST DESIGN PROFESSIONAL FOR CONTRACTUAL INDEMNIFICATION IS NOT TIME BARRED BY STATE STATUTE OF REPOSE

In Trs. of Bos. Univ. v. Clough, Harbour & Assocs. LLP, 255 N.E.3d 596 (Mass. 2025), the Massachusetts Supreme Court (“Court”) held that the tort statute of repose that sets a time bar for filing tort actions for damages arising out of design defects was not applicable against a design firm based on the indemnification…
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SIFMA PROPOSES FINRA ARBITRATION REFORMS

The Securities Industry and Financial Markets Association (SIFMA), a trade association representing broker-dealers, investment banks, and asset managers, submitted a thoughtful and pragmatic letter to FINRA on July 11, 2025, proposing five critical reforms to enhance the fairness, efficiency, and professionalism of FINRA’s arbitration process. These proposals aim to modernize the system, ensuring it meets…
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