Rejoice! This is a great day for justice and the rule of law. In a six to three ruling, the U.S. Supreme Court ruled that Title VII of the 1964 Civil Rights Act bars discrimination against LGBTQ persons. Justices Neil Gorsuch wrote the majority opinon. He was joined by Chief Justice Roberts and Justices Ginsburg, Breyer, Sotomeyor, and Kagan. The … Read More
FINRA is Postponing All In-Person Arbitration Proceedings Scheduled through July 3, 2020
FINRA announced yesterday that due to the continuing covid-19 disease pandemic all in-person arbitration and mediation proceedings scheduled through July 3, 2020 are administratively postponed. Parties who have cases scheduled for in-person hearings through that date will be contacted by FINRA staff about the options of rescheduling the hearing or proceeding with a remote hearing conducted via Zoom. The postponement … Read More
SEC, Justice Department Begin Investigations of Senator Burr, Others
On March 25, 2020, I wrote about a lawsuit filed against North Carolina Senator Richard Burr over his dumping of stocks in the early days of the covid-19 pandemic. In the complaint, a shareholder of Wyndham Hotels and Resorts alleged that Senator Burr sold his stock portfolio based on non-public “insider” information. In late February 2020, Burr, who is chairman of … Read More
Law Firms and ABC Stores are “Essential”
When I read Wake County’s March 26 stay-at home order I had two questions: Can I go to my office? And can I stop at the ABC store on the way home? The answers: yes and yes. According Wake County’s order, and under Governor Cooper’s Executive Order No. 121 dated May 27, businesses that provide legal services are “essential businesses.” … Read More
Senator Burr Sued for Insider Trading in Violation of the STOCK Act
Two days ago, North Carolina Senator Richard Burr was sued by a shareholder in Wyndham Hotels and Resorts in the United States District Court for the District of Columbia. In the complaint, the plaintiff alleged that Senator Burr decided to sell his stock portfolio based on non-public “insider” information. According to news reports, in late February 2020, Burr, who is … Read More
Wake County Courts Postpone Cases in Response to Coronavirus
On Friday, March 13, 2020, officials of Wake County Superior Court announced that some but not all pending court cases will be postponed for at least 30 days. The Court’s memorandum to members of the Tenth Judicial District Bar may be found here. If you have a case that is scheduled to be heard within the next 30 days, you … Read More
FINRA Arbitration Claims Likely to Spike due to Current Market Crash
At present, the stock market appears to be in free-fall, with most major market indices down approximately 25% in the past two weeks. The extent of the current crash and the duration of the recovery will likely depend on the extent and duration of the coronavirus crisis and the oil price trade war between Saudi Arabia and Russia. Absent a … Read More
Does Your Securities Broker or Investment Advisor have Errors and Omissions Insurance?
When shopping for an investment firm, or during your next meeting with your financial professional, ask whether the firm carries errors and omissions insurance. This type of insurance, also known and “E&O coverage,” insures against claims made by customers against their investment professionals. Unpaid arbitration awards remain a significant focus of regulators, legislators, and investor advocates. According to data published … Read More
Federal Bar Association Rebukes Trump for Interferring in Roger Stone Case
The Federal Bar Association is the nation’s oldest and most prestigious organization of attorneys and judges who share a common interest in the welfare of the federal court system. On February 19, 2020, in response to President Trump’s commentary on Roger Stone case, Attorney General Barr’s personal intervention in the case, and the resignation of the four career prosecutors who … Read More
Happy New Year! Federal Court Strikes Down North Carolina’s Racist Voter ID Law
In an order dated December 31, 2019, Judge Loretta C. Biggs ruled that North Carolina’s racist voter identifcation law violates Section 2 of the Voting Rights Act and the Fourteenth and Fifteenth Amendments of the United States Constitution and entered a preliminary injunction against its enforcement. Judge Biggs ruled the plaintiffs had satisfied each element required to support the issuance … Read More