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Posts Tagged ‘subprime’

Last week, following the Supreme Court’s decision in AT&T Mobility v. Concepcion, I commented that the decision does not answer the question whether a federal court has the power to declare a class arbitration waiver unconscionable.  Although not on this precise issue, the Court has granted cert on a related issue relating to the enforceability of arbitration agreements that preclude class actions.

The issue presented in CompuCredit Corp. v. Greenwood, No. 10-948 is “Whether claims arising under the Credit Repair Organizations Act, 15 U.S.C. § 1679 et seq., are subject to arbitration pursuant to a valid arbitration agreement.”  This would-be class action involves a potential conflict between two competing federal laws, the Federal Arbitration Act and the Credit Repair Organizations Act (CROA).  The Ninth Circuit Court of Appeals held that a class arbitration waiver was void “because the CROA specifically prohibits provisions disallowing any waiver of a consumer’s right to sue in court for CROA violations.”  In reaching that conclusion, it held that the statute’s reference to a “right to sue” was an express statement of Congressional intention to preclude waivers of consumer’s rights to bring a lawsuit in court, thus falling within an exception to the otherwise liberal policy favoring arbitration.

The case has been added to the Court’s docket for the October 2011 term.

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The Class Action Blogosphere Weekly Review is back on its regularly scheduled day this week.  As always, here are some blog entries that might be of interest to class action practitioners…

See Carlton Fields’ class action blog Classified for links to various news tidbits relating to class actions, including a summary of a bill recently passed in the United States House of Representatives that would amend the Fair and Accurate Transaction Act (FACTA) to, among other things, “ensure that it is not abused by frivolous class-action lawsuits against businesses.”

http://www.carltonfields.com/classactionblog/blog.aspx?entry=213

Class Action Defense Blog summarizes and provides a link to a transfer of venue decision by the U.S. District Court for the Southern District of New York noting that the deference to be given to a plaintiff’s choice of forum is “diminished” in a class action:

http://classactiondefense.jmbm.com/2008/05/venue_class_action_defense_cas.html

The Complex Litigator comments on a recent entry in California Punitive Damages regarding an appeal that may affect punitive damages claims in wage and hour class actions:

http://www.thecomplexlitigator.com/2008/05/are-punitive-da.html

http://calpunitives.blogspot.com/2008/05/pending-appeal-will-affect-punitive.html

Drug and Device Law Blog provides an in-depth analysis of and a link to the Second Circuit Court of Appeals’ recent decision in Pew v. Cardarelli, No. 06-5703-mv, slip op. (2d Cir. May 13, 2008), which addresses the procedures for appellate review of remand orders in cases removed under the Class Action Fairness Act…

http://druganddevicelaw.blogspot.com/2008/05/cafa-intrigue.html

… and see more on the same decision from the Consumer Law & Policy Blog

http://pubcit.typepad.com/clpblog/2008/05/new-cafa-decisi.html

The D&O Diary continues to be the leading source of information on litigation arising out of the subprime mortgage crisis:

http://www.dandodiary.com/2008/05/articles/subprime-litigation/yes-but-the-subprime-litigation-wave-rolls-on/

How Appealing discusses a recent Sixth Circuit Court of Appeals decision upholding a large verdict in an antitrust class action:

http://howappealing.law.com/051508.html#033744

Federal Civil Practice Bulletin discusses a recent First Circuit Court of Appeals decision discussing the level of merits evaluation required (as opposed to allowed) at the class certification stage:

http://federalcivilpracticebulletin.blogspot.com/2008/05/first-circuit-discusses-degree-of.html

Elizabeth Cabraser submits entry as a guest blogger on ACSBlog regarding the use of class actions as a tool for change and social justice:

http://www.acsblog.org/guest-bloggers-class-actions-and-justice.html

Law and More comments on the Deutsche Telekom trial and the possibility that Germany may adopt an American-style class action model (see my earlier entry here)

http://lawandmore.typepad.com/law_and_more/2008/05/will-germany-wind-up-importing-american-style-class-action-lawsuits.html

Canadian blog FP Legal Post comments on recent competition class action decisions in the Canadian courts:

http://network.nationalpost.com/np/blogs/legalpost/archive/2008/05/20/divisional-court-upholds-competition-class-action-certification.aspx

Startup Company Lawyer provides some practice tips for directors and officers on ways to minimize potential class action exposure resulting from the sale of a company:

http://www.startupcompanylawyer.com/2008/05/15/what-are-directors-duties-and-what-can-they-do-to-protect-themselves-in-a-sale-of-company/

Too Old to Know Better discusses a website allowing users to submit grievances for review by a consortium of plaintiffs’ class action lawyers (see my commentary on related topics here and here):

http://too-old-to-know-better.blogspot.com/2008/05/class-action-connect.html

A franchise lawyer provides his views on the use of the class action device in franchisee’s rights’ cases on Blue Maumau:

http://www.bluemaumau.org/my_personal_bias_foragainst_using_class_action_lawsuits

Sabal Insurance Group‘s blog summarizes a seminar addressing trends in shareholder class actions in the insurance industry:

http://sabalinsurance.blogspot.com/2008/05/insurers-told-to-monitor-class-action.html

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