On October 7th, the Consumer Financial Protection Bureau released proposals that, if adopted, would limit the use of arbitration provisions in consumer class actions against banks and other companies offering consumer finance products and services. For more information, you can access our client alert here.
In a decision issued on August 21, 2015, the First Circuit added its voice to the recent chorus of federal appellate courts holding that an unaccepted Rule 68 offer of judgment, served before a motion for class certification and offering the named plaintiff all the relief it could potentially recover on its individual claim, did not render the plaintiff's claim moot, and therefore did not moot the putative class action.
Splitting the Difference: Recent Developments in Circuit Splits Over Class Action Lawsuits
OMNICARE: Supreme Court Clarifies Whether Statements of Opinion by Companies and their Executives are Actionable under the Federal Securities Laws