Eversheds Sutherland 11th Circuit Business Blog
content top

Ponzi Scheme Victims Prevail over SEC Receiver on Due Process Grounds

In SEC v. Torchia, 2019 WL 1911823 (11th Cir. Apr. 30, 2019), the Eleventh Circuit held in favor of investors victimized by a Ponzi scheme, concluding that the investors were permitted to appeal the district court’s interlocutory orders regarding receivership proceedings and that they had been denied a meaningful day in court. The appeal arose from the SEC’s case against James Torchia...

Supreme Court Clarifies Law on Late-Filed Rule 23(f) Petitions

This week, the Supreme Court ruled that the 14-day deadline to file an interlocutory appeal of a district court’s class certification decision is not subject to equitable tolling.  Nutraceutical Corp. v. Lambert, No. 17-1094, 2019 WL 920828 (U.S. Feb. 26, 2019).  In Nutraceutical, after the district court issued a decision decertifying the class, the plaintiff filed a motion for...

Primary Defendants Tied to Liability for Damages in Class Actions Seeking Monetary Relief

In an opinion published June 14, 2017, Hunter v. City of Montgomery, 2017 WL 2634162, the Eleventh Circuit affirmed the lower court’s remand order under the home state exception to the Class Action Fairness Act (“CAFA”). The central issue was the classification of a party as one of the “primary defendants” within the meaning of CAFA. The case centered on a red-light camera program...