Skip to main content

Are you a legal professional? Visit our professional site

Please enter a legal issue and/or a location
Begin typing to search, use arrow keys to navigate, use enter to select

Find a Lawyer

More Options

Constitutional Challenge to Liens Placed by City, and Securities Fraud Matter

By FindLaw Staff on September 15, 2010 10:32 AM

In Chase Grp. Alliance LLC v. N.Y. Dep't of Fin., No. 09-2327, an action claiming that plaintiffs' right to due process was violated by liens placed upon their properties by the City of New York, the court affirmed the dismissal of the action where the complaint alleged that New York law afforded appellants a right to notice and access to a tribunal to assert their objections before the liens were imposed, and thus, appellants' right to due process was not violated.

In Iowa Pub. Employees' Ret. Sys. v. MF Global, Ltd., No. 09-3919, an action alleging material misstatements and omissions in a prospectus and registration statement of defendant, and asserting claims under section 11, 12(a)(2), and 15 of the 1933 Securities Act, the court affirmed in part the dismissal of the complaint, holding that the stock price decline (and plaintiffs' resulting losses) could not be attributed to the prospectus's failure to disclose an alleged fact.  However, the court vacated in part where the district court erroneously applied the bespeaks-caution doctrine.

Related Resources

Copied to clipboard