• McCarn v. HSBC USA, Inc.: A Federal Court Dismisses a Plaintiff's Attempt to Apply Antitrust-Conspiracy Principles to a Consumer Financial Protection Statute
  • December 28, 2012 | Author: Sara A. Aliabadi
  • Law Firm: Schnader Harrison Segal & Lewis LLP - Philadelphia Office
  • On November 13, 2012, the U.S. District Court for the Eastern District of California, in McCarn v. HSBC USA, Inc., 2012 U.S. Dist. LEXIS 162257, issued an important decision rejecting as inadequate a plaintiff’s attempt to apply antitrust-conspiracy principles to a consumer financial protection statute and clarifying the specificity of pleading required to obtain relief from the applicable statute of limitations via the equitable tolling, fraudulent concealment, and delayed discovery doctrines where the plaintiff claims lack of sophistication or expertise sufficient to discover his claims without the assistance of counsel. The Schnader firm represented one of the dismissed defendants in the case.