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Bank Law Monitor

A legal blog for the financial services industry

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Ninth Circuit Affirms That “Cascading Scandals” and a General Stock-Price Decline are Insufficient to Establish Loss Causation under California Securities Law
On May 19, 2021, the Ninth Circuit affirmed the dismissal of a putative securities fraud class action against Uber Technologies, Inc. and its co-founder and former CEO, Travis Kalanick, holding that, under California law, investors cannot simply alle...
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HB 2009 Moves to Senate Floor
Earlier this afternoon, the Oregon Senate Committee on Housing and Development voted 3-2 to advance House Bill 2009 (HB 2009) out of Committee and to the Senate floor for a final vote on the Bill. Prior to advancing HB 2009, the Committee adopted an...
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HB 2009 Moves to Floor Vote
On March 24, 2021, the Oregon House Committee on Banking and Labor voted to advance House Bill 2009 (HB 2009) to a floor vote. As detailed in our prior write-up of the Bill, HB 2009 would extend Oregon’s foreclosure moratorium for certain loans throu...
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Ninth Circuit Revives State-Law Class Action Claims against Financial Advisor
On March 4, 2021, the United States Court of Appeals for the Ninth Circuit reversed a district court’s ruling and held that a putative class action alleging state-law fiduciary duty claims against a financial services and advisory firm (the “Financia...
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Oregon Legislature Introduces New Foreclosure Moratorium Bill (HB 2009)
On February 9, 2021, the Oregon House introduced a second foreclosure moratorium bill related to COVID-19. Known as House Bill 2009 (HB 2009), the new legislation would extend Oregon’s now-expired foreclosure moratorium during an extended “emergency...
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SEC Adopts New Amendments to Exempt Offering Rules
The Securities and Exchange Commission (SEC) has adopted a series of amendments to rules under the Securities Act of 1933 (Securities Act) applicable to offerings exempt from public registration. The amendments will become effective 60 days after the...
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