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Case of the Day: SEC v. Nagaicevs
The case of the day is SEC v. Nagaicevs (N.D. Cal. 2013). The SEC alleged that Igors Nagaicevs, a Latvian national, had gained unauthorized access to online brokerage accounts and made trades in those accounts to manipulate securities prices in his favor. It brought claims under § 17(a) of the Securities Act and § 10(b)……
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Case of the Day: Mezu v. Progress Bank of Nigeria
The case of the day, Mezu v. Progress Bank of Nigeria, plc (D. Md. 2013), is a mess. Dr. Sebastian Okechukwu Mezu was the chairman of Emekuku Community Bank Nigeria Ltd. Mezu had previously obtained a default judgment against Progress Bank of Nigeria, plc, from the Federal Court in Port Harcourt, Nigeria. Progress Bank had……
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Case of the Day: Latin American Theatrical Group v. Swen International Holding
The case of the day is Latin American Theatrical Group, LLC v. Swen International Holding (C.D. Cal. 2013). Latin American filed a petition to confirm an arbitral award against Swen, a foreign corporation that had its offices in Panama. Latin American served process on Swen in Panama by mail. Panama is a party to the……
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Case of the Day: Cook v. Toidze
The case of the day is Cook v. Toidze (D. Conn. 2013). Peter Cook, Thea Duell, Aleksandar Milosavlievic-Cook, Maya Toidze, Alexandre Ivankine, Tim Toidze, and Alexandre Avroutine were members of Maya’s Meals, LLC. Cook, Duell, and Milosavlievic sued the Toidzes, Ivankine, and Avroutine on their own behalf and derivatively on behalf of the LLC. The……
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Case of the Day: Tuckerbrook Alternative Investments v. Banerjee
The case of the day is Tuckerbrook Alternative Investments, LP v. Banerjee (D. Mass. 2013). I considered a related case in May 2011. According to the complaint, Tuckerbrook, an investment adviser that manages hedge funds, alleges that Sumanta Banerjee, former manager of Tuckerbrook’s Global Distressed Fund and Global Special Situations Fund, breached a settlement agreement……