A new consensus is emerging at the appellate level.  The First, Seventh, and now the Second Circuit Courts of Appeal have issued decisions clarifying that proposed class representatives need only have standing to assert their own state law claims, not those of absent class members. 

The Second Circuit Court of Appeals has ruled in favor of two financial industry whistleblowers, reviving their federal qui tam claims that Wells Fargo lied about its financial condition in order to obtain billions of dollars in low-interest emergency bailout funds from regional Federal Reserve Banks during the Financial Crisis.

Moody’s has reached a settlement with New York-based law firm Kirby McInerney after it was accused of underpaying New York State and New York City business taxes between 2002 and 2014. Moody’s is alleged to have mischaracterised its income as premiums to its captive, Moody’s Assurance Company (MAC).

Christopher Studebaker, Partner, and Yasuo Inada, Foreign Attorney, co-authored this article that provides a brief overview of discovery under federal law and outlines steps that the legal/IT departments in Japanese companies should undertake to ensure compliance with federal discovery obligations both beofre and during litigation.  The article is published (in Japanese) in a Japanese newspaper.

“Kirby played an integral role in this case and assumed significant risk… Kirby’s work was at a very high level [and] Kirby’s work greatly benefited the Class.”

“Let me just say… that this has been an extraordinarily well-tried case. I want to thank counsel for both sides and your supporting staffs for your courtesies to the bench. I was very impressed by the fact that you were all so very well prepared with the demonstratives and the binders, etc…. it was all expertly – expertly – choreographed.”

KM received the highest available commendations from the City of New York four years in a row for its work on the AWP Litigation. In each of those four years, KM’s efforts on the City’s behalf received the overall rating of “excellent”. The City elaborated, “Kirby did a truly excellent job and the results reflect that.”

“[KM] represented us diligently and successfully. Throughout [KM’s] representation of our firm, [KM’s] commitment and attention to client concerns were unimpeachable.”