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Documents on professional liability
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|NY Court of Appeals Holds Failure to Read Policy No Longer an Automatic Bar to Claim Against Broker|
Joseph L. Francoeur, Thomas A. Leghorn; Wilson Elser Moskowitz Edelman & Dicker LLP;
January 9, 2013, previously published on January 8, 2013On November 19, 2012, the New York Court of Appeals in American Building Supply Corp. v. Petrocelli Group, Inc., settled a split in the appellate divisions on the question of whether an insured that fails to read its policy is barred from suing its broker for failing to procure specific coverage....
|Professional Liability and the FDIC; The IndyMac Decision|
Vorys Sater Seymour Pease LLP;
January 2, 2013, previously published on January 4, 2013As all bankers know, the FDIC as receiver has "ramped up" it’s efforts to bring actions against directors, officers and "institution-affiliated parties" (IAPs) of failed institutions during the current banking challenges. The FDIC may elect to bring suit against former...
|California Court of Appeal Confirms Design Professionals May Bear Liability Under SB 8OO and Tort Theories for Defects in Their Work|
Sheila E. Fix, Stephen J. Henning, Keith Smith; Wood, Smith, Henning & Berman LLP;
December 28, 2012, previously published on December 20, 2012On December 13, 2012, the California Court of Appeal, First District, Division 5, filed its opinion in the matter of Beacon Residential Community Association v. Skidmore, Owings & Merrill, LLP. The case involves whether a design professional owes a duty to a homeowners' association and its...
|Plaintiffs Failed to Establish Causation and Damages in “Settle and Sue” Type of Legal Malpractice Action|
Noah D. Fiedler, Terrence P. McAvoy; Hinshaw & Culbertson LLP;
December 14, 2012, previously published on December 12, 2012The California Court of Appeal considered the causation element of a “settle and sue” type of a legal malpractice action. In the context of an eminent domain proceeding, the court concluded that plaintiff clients, although proving some evidence of negligence, failed to demonstrate that...
|Claims for Legal Malpractice and Breach of Fiduciary Duty Barred by the Statute of Limitations: Elmakies v Sunshine|
Adam M. Rafsky; Farrell Fritz, P.C.;
December 10, 2012, previously published on December 4, 2012In a September 24, 2012 decision by Justice DeStefano, the court granted the defendants’ motion to dismiss the complaint, which included causes of action for legal malpractice and breach of fiduciary. The defendants, law firms and their named partners, were retained by the plaintiff with...
|Attorney’s Admission of Error Without Insurer’s Approval Did Not Relieve Insurer of Duty to Defend In Legal Malpractice Action|
Terrence P. McAvoy; Hinshaw & Culbertson LLP;
December 7, 2012, previously published on December 5, 2012A professional liability insurer filed a declaratory judgment action against its insured attorney, seeking a declaration that the lawyer’s admission of an error without the insurer’s approval relieved the insurer of its duty to defend the attorney in a legal malpractice action. In a...
|The Southern District of New York Dismisses Securities Fraud Claim Against Auditor, Establishing Important Guidance for Future Courts and Parties|
William J. Kelly, Peter J. Larkin, Thomas R. Manisero, Benjamin A. Tulis; Wilson Elser Moskowitz Edelman & Dicker LLP;
December 5, 2012, previously published on December 3, 2012On November 14, 2012, Southern District of New York District Judge Shira A. Scheindlin issued a decision setting important precedents for auditors of publicly traded companies. This is one of the first comprehensive decisions addressing auditor liability for audits of China-based companies traded...
|An Insurer’s Duty to Defend-Clarity from the Ontario Court of Appeal|
Tate McLeod; Norton Rose Canada LLP;
December 4, 2012, previously published on November 2012In Tedford v. TD Insurance Meloche Monnex, the Ontario Court of Appeal provides helpful guidance concerning an insurer’s duty to defend. In particular, the case includes:
|D.C. Bar Clarifies Boundaries for Disclosure of Client Confidences by Discharged In-House Counsel|
Roy E. Pulvers; Hinshaw & Culbertson LLP;
November 30, 2012, previously published on November 28, 2012The District of Columbia Bar Association Legal Ethics Committee (Committee) opined that in-house lawyers who sue their employers for employment discrimination or retaliatory discharge may not reveal client/employer confidences offensively in that context, but may reveal confidences, as reasonably...
|Countering Discovery Abuse|
Ginger K. Maxted; Shelton Voorhees Law Group;
November 29, 2012I have three children, each are about 1 year apart in age. My Oldest and his younger brother like to play together. The younger of the boys usually initiates their games and sets the rules. He gains a quick advantage by doing so and prevails initially at the game. However, the older boy has 1 year...