The United States District Court for the Northern District of
California granted class certification in a mortgage loan appraisal
suit alleging defendants conspired to inflate appraisals to
increase the sale of loans in the secondary market. The Court found
that plaintiffs presented sufficient evidence to establish common
questions of fact and law, holding that common questions and
answers need not uniformly apply to all class members. The
Court also found that the analysis of individual appraisal fees
would not create individualized issues, but instead would provide
additional support for plaintiffs' claims that an inflated
appraisal scheme existed. Finally, the Court also held that the
Real Estate Settlement Procedures Act's treble damages,
attorney's fees and government enforcement mechanisms did not
make class action an inferior method of litigation. Click
here for the opinion.
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Doing business in New York can be performed through a number of legal structures ranging from sole proprietorships to corporations. This advisory provides basic information on the different legal forms and the services that can be offered by Murray LLP for your business.
The Jumpstart Our Business Startups Act of 2012 requires that the SEC amend Rule 506 of Regulation D to permit general solicitation and advertising in private placements as long as all purchasers are accredited investors.
In New York one of the most common forms of entity for operating a business is a Limited Liability Company (commonly known as an LLC). Depending on the circumstances it may be an appropriate entity to choose when establishing a business or other undertaking in New York State.
A recent federal appeals court decision addressing pleading standards for shareholder suits under Section 11 of the Securities Act of 1933, as amended, highlights the potential dangers of giving broad assurances of legal compliance in registration statements.
The Internal Revenue Service recently issued its Final Report on the Colleges and Universities Compliance Project, marking the conclusion of a five-year study of one of the largest segments of the nonprofit sector.
You can protect the value of your privately-held company by working with your lawyer to make strategic business and legal decisions and by ensuring that your legal documents are consistent in implementing those decisions.