Dylan C. Black

Dylan C. Black

Dylan Black focuses his practice on complex civil litigation in state and federal courts, with particular emphasis on professional liability, class action, state and federal securities fraud cases, and insurance coverage litigation. Dylan’s experience in professional liability litigation includes the defense of public accounting and auditing firms, outside directors, audit committee members, and lawyers in a variety of cases. View articles by Dylan

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Hold the Phone: Ninth Circuit Ruling Means Your Smartphone Is an Auto-Dialer

Can your phone store telephone numbers and dial them? If so, it’s an “automatic telephone dialing system” under the Telephone Consumer Protection Act (TCPA), said the Ninth Circuit Court of Appeals last week. The opinion in Marks v. Crunch San Diego creates a circuit split on the issue and highlights the difficulty courts have in applying … Continue Reading

SEC Wants the Truth and Nothing but the Truth in Advertising

Tell the truth, the whole truth, and nothing but the truth: that’s the message to registered investment advisors from the Office of Compliance Inspections and Examinations (OCIE) in a recent risk alert about the SEC’s Advertising Rule (Rule 206(4)-1). The rule prohibits advisors from making untrue statements of material fact and from otherwise including misleading … Continue Reading

Supreme Court Decision Provides Significant Protection to Securities Industry, Limits SEC Enforcement

In a decision previewed in an earlier post, the United States Supreme Court ruled unanimously in Kokesh v. Securities and Exchange Commission that the five-year statute of limitations in 28 U.S.C. section 2462 applies to SEC enforcement actions seeking the remedy of disgorgement. Resolving a Circuit split, the Supreme Court ruled that disgorgement is a “penalty” … Continue Reading

Is There a Statute of Limitations on Disgorgement?

How long does the Securities and Exchange Commission (SEC) have to bring a lawsuit asking for disgorgement of unlawful gains? The United States Supreme Court will decide that issue this term in Kokesh v. Securities and Exchange Commission. Under federal law, no “action, suit or proceeding for the enforcement of any civil fine, penalty, or … Continue Reading

Bradley Launches New Broker-Dealer and Investment Advisor Blog Series

Bradley’s Banking & Financial Services Team is pleased to announce a new blog series led by its Broker-Dealer and Investment Advisor Team. The series will focus on issues critical to assisting financial institutions and service providers in maintaining compliance, protecting their operations and developing their businesses while minimizing risk. Bradley’s Broker-Dealer & Investment Advisor Team … Continue Reading

CFPB’s Proposed Rule Bans Class Waivers in Financial Services Industry

As expected, yesterday the Consumer Finance Protection Bureau (CFPB) announced a proposed rule that would effectively ban class action waivers in pre-dispute arbitration agreements for a broad range of consumer financial products and services, and end the confidentiality often associated with individual arbitrations. The proposed rule would forbid a covered financial product or service provider … Continue Reading

Unaccepted Offer of Judgment Does Not Moot TCPA Plaintiff’s (or Putative Class’s) Claim, Supreme Court Says

In a 6-3 decision, the U.S. Supreme Court in Campbell-Ewald v. Gomez ruled last week that an unaccepted offer of judgment under Rule 68 of the Federal Rules of Civil Procedure does not divest the trial court of subject matter jurisdiction. Campbell-Ewald had made putative class representative Gomez a Rule 68 offer of judgment in the amount … Continue Reading
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