For over 40 years, the Securities and Exchange Commission (SEC) has used disgorgement as a common enforcement tool. In securities enforcement matters, disgorgement requires wrongdoers to disgorge ill-gotten profits or commissions. The Ninth Circuit has stated that “disgorgement is designed to deprive a wrongdoer of unjust enrichment, and to deter others from violating securities laws…
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In Whitaker v. R2M Engineering, LLC, 2020 WL 2786941 (Tex. Ct. App, May 28, 2020), the Texas Court of Appeals held that plaintiff’s alleged damages arose out of the provision of professional services by a licensed or registered professional, triggering the Certificate of Merit requirements. Texas Department of Transportation (“TDOT”) hired R2M Engineering, LLC (“R2M”)…
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In Decks N Such Marine, Inc. v. Daake, the District Court of Appeal of Florida, First District, considered whether a trial court’s award of attorney’s fees to a junior interest holder in a construction lien enforcement action was proper under Section 713.29, Florida Statutes (2018). 2020 WL 2507500 (Fla. 1st Dist. Ct. App. 2020). The…
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On February 7, 2020, FINRA filed with the SEC a proposed rule change to amend FINRA’s Code of Arbitration Procedure for Customer Disputes and Code of Arbitration Procedure for Industry Disputes to apply minimum fees to requests for expungement of customer dispute information. The SEC recently approved this proposed rule change in an order dated…
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On June 15, 2020, the United States Supreme Court ruled that Title VII of the Civil Rights Act of 1964 (“Title VII”) protects gay, lesbian and transgender persons in their employment. Prior to the Supreme Court’s ruling, the law had no specific protection for sexual orientation or gender identity. The Court’s decision has resolved a…
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The 9th Circuit U.S. Court of Appeals has affirmed the right of state and local governments to sue Volkswagen over tampering with emissions devices on their vehicles after they were sold. The decision reverses the lower court’s dismissal of the claims and opens the door for more litigation. In re Volkswagen “Clean Diesel” Mktg., Sales…
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FINRA recently issued Regulatory Notice 20-13 “FINRA Reminds Firms to Beware of Fraud During the Coronavirus (COVID-19) Pandemic.” The Notice was released in response to the COVID-19 pandemic, which has had a strong impact on the U.S. economy and markets. The Notice addresses measures firms should take to resolve the increased risks and challenges presented…
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In Baker v. Rabren General Contractors, Inc., 2020 WL 12145326 (M.D. Ala. 2020), the United States District Court for the Middle District of Alabama analyzed whether an arbitration provision in an unsigned subcontract was enforceable. Defendant Rabren General Contractors, Inc. (“Rabren”) filed a Motion to Compel Arbitration in the suit brought against it by Plaintiff…
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On April 23, 2020, the United States Supreme Court issued its decision in County of Maui v. Hawaii Wildlife Fund, No. 18-260, addressing whether the Clean Water Act (CWA) requires a permit when pollutants originate from a point source, but are conveyed to navigable waters by a nonpoint source, such as groundwater. The Court found…
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The Equal Employment Opportunity Commission (“EEOC”) has clarified a question that has been playing on the minds of employees and employers alike: during the COVID-19 pandemic, how does the ADA apply to workers who do not want to return to the workplace because they are “high risk?” If an employee, who has a medical condition…
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