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Identity Theft Litigation Update: Recent Cases Show Trend Toward Dismissal of Speculative Claims
Several weeks ago, we discussed how most courts were rejecting lawsuits where the plaintiffs claimed “damages” in the form of an increased risk of identity theft, generally stemming from allegations of an accidental…
Merchants Beware: Protect Your Customers and Company from Credit Card "Skimming"
The current economic climate has had many consequences, including an apparent increase in economic crimes such as credit card fraud. In recent months, numerous credit card scams involving restaurant chains have been…
The End of the Arbitration Clause?
In order to avoid the substantial risks of class action litigation, many financial service providers – both traditional and non traditional – require that customer agreements contain an arbitration clause and a waiver…
Third Circuit Eases Ability to Remand Class Actions to State Court
The Class Action Fairness Act (“CAFA”) eliminated longstanding barriers to removal of cases from state to federal court. To remove a class action under CAFA, it is no longer necessary for all plaintiffs and defendants…
Are Financial Institution Executives Becoming an Uninsurable Risk?
You may have noticed that premiums for Directors and Officers Liability (“D&O”) insurance are skyrocketing, largely as a result of the subprime lending crisis, stock market volatility, and the ensuing financial…