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After Trial, a Delaware Chancery Judge Imposes Aiding & Abetting Liability

Posted in Aiding + Abetting

Aiding and abetting liability continues to prove fertile ground for plaintiffs. Last week, after trial, Delaware Chancery Judge Lasker issued a ruling finding that RBC aided and abetted corporate officers in their breach of their duty of care for decision-making regarding  a corporate sale. The ruling arose in part because the judge found a conflict… Continue Reading

Aiding and Abetting Suits Continue to Increase Against Lawyers

Posted in Aiding + Abetting

 Securities claims continue to intensify against lawyers for their roles in events.   LAW 360 recently posted a story on  a suit proceeding against Proskauer in connection with Mr.  Stanford’s scams.  ("[A] fourth suit revived by the ruling alleges Proskauer attorney Thomas V. Sjoblom and others facilitated the scheme by hampering a U.S. Securities and Exchange Commission investigation into… Continue Reading

Aiding and Abetting Liability Debated and Briefed in the 9th Circuit in Doe v. Nestle

Posted in Aiding + Abetting

OpinioJuris includes three posts on corporate aiding and abetting liability in the context of an appeal to the Ninth Circuit in Doe vs. Nestlé.  One post links to and previews an amicus brief written by various law professors for the National Association of Manufacturers. They are Professors Samuel Estreicher, John McGinnis, Michael Ramsey, Mark Weisburd,… Continue Reading

More Insider Trading Convictions Against Galleon Traders – – What About Madoff-Like Claw-backs from Investors Who Received Ill-gotten Gains ?

Posted in Aiding + Abetting

Bravo, again ! Last month Galleon’s boss was convicted on multiple counts of insider trading.  This week,  AUSA’s in New York  obtained additional insider trading convictions against former Galleon traders, as described here in Dealbook. Now,  the NYT’s insightful and provocative financial reporter, Joe Nocera, is asking the right questions. They include asking whether  we… Continue Reading

Sea Pirates Attracting Outside Investors and Upgrading Their Equipment

Posted in Aiding + Abetting

Piracy on the water is now attracting investment capital and it’s being used to upgrade equipment, according to a U.S. Navy official and Bloomberg’s account of the story.   Bloomber’s story has more detail, but the opening  is set out below. As the Bloomberg story notes, crime flourishes when other work is not available.  The article notes that many ships fail to… Continue Reading

Renewed Focus on U.S. Standards and Rules for Liability for Aiding and Abetting Torts

Posted in Aiding + Abetting

Liability for aiding and abetting tortious conduct is back in focus due to legislation proposed by Senator Specter that would overturn Stoneridge.  A post on the D & O blog post collects current nformation, also with links also to Pointof Law. Past GlobalTort posts are collected under the topic aiding and abetting. One has to wonder why financial… Continue Reading

Sanford CFO Guilty Plea Implicates Lawyer A and then Proskauer and Partner Sued in Class Action

Posted in Aiding + Abetting, Criminal Law and Torts

Talk about a global tort. While waiting to transport one of my daughters this evening, I spent a few minutes reading the guilty plea (thanks, NYT) by Sanford’s CFO, James Davis. What raw fraud and greed. Hard to imagine why it was so hard for regulators to figure it out. Reading the plea, it seemed… Continue Reading

Aiding & Abetting Investigation – Madoff and Austrian Interests

Posted in 2008-09 Financial Fiascos, Aiding + Abetting

An Amlaw article here details global government cooperation with respect to potential claims arising from the Madoff ponzi scheme. Accoridng to the article: “Gerhard Jarosch, spokesman for the Vienna public prosecutor’s office, told The Associated Press his office is aiding the U.S. Justice Department and Britain’s Serious Fraud Office in separate investigations of Bank Medici… Continue Reading

$ 1 Billion Class Action Suit for Mexican Investors Invokes Aiding + Abetting Claim Against Stanford Insurer and Broker

Posted in 2008-09 Financial Fiascos, Aiding + Abetting, Global Securities Litigation, Global Tort Choice of Law Issues

The AmLaw blog post here describes and includes a link to a newly filed complaint that seeks $ 1 billion and a class action for Mexican investors hurt by the Stanford ponzi scheme. The complaint invokes aiding and abetting claims against Willis and an insurance broker. Of note, the complaint was not filed by a… Continue Reading