Author Archives: Richard B. Margolies

Oregon Adopts Fraud-On-The-Market Theory

In Basic Inc. v. Levinson, 485 U.S. 224 (1988), the U.S. Supreme Court adopted the “fraud-on-the-market” theory of reliance, which presumes that investors who bought or sold a security did so in reliance on the integrity of the market price … Continue reading

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Update: IndyMac/OneWest Bank Denied Second Bid to Dismiss HAMP Class Action Lawsuit

On July 27, 2010, plaintiff Stacey Fletcher filed a putative class action complaint alleging that the defendant IndyMac Mortgage Servicers, FSB (a division of OneWest Bank, FSB)(“OneWest”) mishandled her application for a mortgage loan modification pursuant to the Home Affordable Modification Program … Continue reading

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Second Circuit Determines Arbitration Provision Included in Follow-Up E-mail Not Binding on Online Purchasers

In Schnabel v. Trilegiant Corp., plaintiffs commenced a class action lawsuit in the United States District Court of Connecticut against defendants (Affinion Group, LLC, and its wholly owned subsidiary Trilegiant Corp.) who are in the business of marketing and selling … Continue reading

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