Securities Private Offering Exemption Applies in SEC Enforcement Action
Posted on Mar 3, 2017 in Securities | Comments Off on Securities Private Offering Exemption Applies in SEC Enforcement Action
The Eleventh Circuit rejected the SEC’s narrow construction of registration exemptions in SEC v. Levin, 2017 WL 711018 (Feb. 23, 2017), reversing a grant of summary judgment to the defendant but still affirming a jury verdict for securities fraud on multiple counts. The defendant, George Levin, invested his personal funds in a Ponzi scheme that operated by soliciting investors to...
Forum Selection Clause in Resort’s Registration Form Is Enforceable
Posted on Dec 14, 2016 in Civil Procedure | Comments Off on Forum Selection Clause in Resort’s Registration Form Is Enforceable
The Eleventh Circuit upheld the dismissal of a personal injury complaint, finding a forum selection clause naming the Bahamas as the forum for any litigation between plaintiffs and defendants was valid and enforceable. In Feggestad v. Kerzner International Bahamas Ltd., No. 15-11773, 2016 WL 7210067 (11th Cir. Dec. 13, 2016), plaintiffs brought suit after a slip and fall at the...
Tribal Arbitration Agreement in Payday Loan Not Enforced
Posted on Aug 30, 2016 in Arbitration | Comments Off on Tribal Arbitration Agreement in Payday Loan Not Enforced
An arbitration provision in a payday loan agreement was held unenforceable because the provision’s exclusive designated arbitrator, the Cheyenne River Sioux Tribal Nation, was unavailable and no substitute could be appointed. Parm v. Nat’l Bank of Cal., N.A., 2016 WL 4501661 (11th Cir. Aug. 29, 2016) (Dubina, J.). The lender, Western Sky Financial, conceded that the designated...