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Daily Archives: Monday, February 11, 2019

Posted: February 11, 2019

New LIBOR Suit Alleging Rate-Rigging Continued After 2014 Not Added to Existing LIBOR MDL

Law360 reports that the Southern District of New York has refused to join a new LIBOR class action filed by Putnam Bank with the ongoing LIBOR multi-district litigation that is being overseen by Judge Naomi Reice Buchwald. The existing LIBOR MDL concerns rate-rigging from 2007 to 2009/2010, when the British Bankers’ Association (BBA) was the... Read more »

Posted: February 11, 2019

“Offer for Sale” Can Constitute Advertising Injury Under CGL Policy

On December 19, 2018, the Second Circuit issued a decision in High Point Design, LLC v. LM Ins. Corp., Docket No. 16-1446-cv, holding that a counterclaim alleging patent and trade dress infringement in an “offer[] for sale” triggered an insurer’s duty to defend under the “advertising injury” provision of a CGL Policy. This coverage action... Read more »

Posted: February 11, 2019

Letter of Intent Binding Contract Requiring Parties to Negotiate and Consummate Sale Transaction

On January 28, 2019, Justice Ash of the Kings County Commercial Division issued a decision in A.J. Richard & Sons, Inc. v. Forest City Ratner Cos., LLC, 2019 NY Slip Op. 30215(U),holding that a letter of intent was a binding agreement to negotiate and consummate a sale transaction, explaining: In determining whether the parties intended to... Read more »