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Tag Archives: Securities

Attorneys – Tort/Negligence — Legal Malpractice Claim – Real Property – Closing – Fiduciary Duty – Unfair Trade Practices – Securities (access required)

RFT Management Co. v. Tinsley & Adams L.L.P. Since the parties agreed at trial that plaintiff’s legal malpractice claim involved questions of fact that required submission of the claim to a jury, plaintiff may not now complain that it was entitled to judgment as a matter of law on its legal malpractice claim.

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Attorneys – Fees – S.C. Statute – Frivolous Lawsuits – Arbitration – Securities – Labor & Employment (access required)

Wachovia Securities LLC v. Brand A securities firm that lost its FINRA arbitration proceeding against former employees who left to work for a competitor winds up paying over $1 million in attorney’s fees under a South Carolina statute that penalizes frivolous lawsuits; the 4th Circuit affirms the district court order refusing to vacate the arbitration award in favor of the former employees and upholding the award of $15,080 in treble damages and $1.1 million in attorney’s fees under the South Carolina Frivolous Civil Proceedings Act.

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Supremes ponder service provider’s securities liability (access required)

The justices of the U.S. Supreme Court grappled with the question of whether a claim may be stated against a service management company for alleged securities violations of the mutual funds it sponsors. Appealed from the 4th Circuit, the case, Janus Capital Group v. First Derivative Traders, is a class action brought by shareholders who claim they received misleading information in prospectuses regarding a group of mutual funds - Janus Funds, sponsored by the Janus Capital Group, which is managed by its subsidiary Janus Capital Management (JCM).

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