Remand is when higher courts send cases back to lower courts for further action. In the law of the United States, appellate courts remand cases to district courts for actions such as a new trial. Federal appellate courts, including the Supreme Court, have the power to "remand [a] cause [sic] and ... require such further proceedings to be had as may be just under the circumstances." This includes the power to make summary "grant, vacate and remand" (GVR) orders.
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud promulgated by the U.S. Securities and Exchange Commission, pursuant to its authority granted under § 10(b) of the Securities Exchange Act of 1934. The rule prohibits any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security. The issue of insider trading is given further definition in SEC Rule 10b5-1.
Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006), was a case decided by the Supreme Court of the United States involving the extent to which state law securities fraud class action claims were preempted by the Securities Litigation Uniform Standards Act of 1998 (SLUSA). The Court unanimously ruled that SLUSA barred state law "holder" claims, which are based on losses caused when a shareholder retains stock due to fraud instead of selling it, even though federal securities laws only provided a private cause of action to those suffering losses caused by the purchase or sale of stock. The Court's decision resolved a split among the circuits and closed a significant loophole in the coverage of SLUSA, which it based on the broad language used in the Act and the policies behind it.
The Supreme Court of the United States handed down sixteen per curiam opinions during its 2005 term, which lasted from October 3, 2005, until October 1, 2006.
Basic Inc. v. Levinson, 485 U.S. 224 (1988), was a case in which the Supreme Court of the United States articulated the "fraud-on-the-market theory" as giving rise to a rebuttable presumption of reliance in securities fraud cases.
James L. Dennis is an American lawyer, jurist, and former politician serving as a senior United States circuit judge of the United States Court of Appeals for the Fifth Circuit, with chambers in New Orleans, Louisiana.
Anza v. Ideal Steel Supply Corporation, 547 U.S. 451 (2006), was a United States Supreme Court case in which the Court, relying on Holmes v. Securities Investor Protection Corporation, held that to establish standing under the civil Racketeer Influenced and Corrupt Organizations Act (RICO) provision that creates a civil cause of action for any person or entity injured in their business or property by reason of a RICO violation, a plaintiff must demonstrate that he or she was the direct victim of the defendant's RICO violation. The Court explained that this construction will save district courts from the difficulty of determining an indirect victim's damages caused by attenuated conduct.
Morrison v. National Australia Bank, 561 U.S. 247 (2010), was a United States Supreme Court case concerning the extraterritorial effect of U.S. securities legislation. Morrison extinguished two species of securities class-action claims that had proliferated in preceding years: "foreign-cubed" claims, in which foreign plaintiffs sued foreign issuers for losses on transactions on foreign exchanges, and "foreign-squared" claims, brought by domestic plaintiffs against foreign issuers for losses on transactions on foreign exchanges.
South Carolina v. Catawba Indian Tribe, Inc., 476 U.S. 498 (1986), is an important U.S. Supreme Court precedent for aboriginal title in the United States decided in the wake of County of Oneida v. Oneida Indian Nation of New York State (1985). Distinguishing Oneida II, the Court held that federal policy did not preclude the application of a state statute of limitations to the land claim of a tribe that had been terminated, such as the Catawba tribe.
Erica P. John Fund, Inc. v. Halliburton Co., 563 U.S. 804 (2011), was a United States Supreme Court case in which the Court held that "securities fraud plaintiffs need not prove loss causation in order to obtain class certification." Their decision cleared the way for class action to proceed against Halliburton over its alleged misrepresentation of facts material to the value of its stock price.
Fisher v. University of Texas, 570 U.S. 297 (2013), also known as Fisher I, is a United States Supreme Court case concerning the affirmative action admissions policy of the University of Texas at Austin. The Supreme Court voided the lower appellate court's ruling in favor of the university and remanded the case, holding that the lower court had not applied the standard of strict scrutiny, articulated in Grutter v. Bollinger (2003) and Regents of the University of California v. Bakke (1978), to its admissions program. The Court's ruling in Fisher took Grutter and Bakke as given and did not directly revisit the constitutionality of using race as a factor in college admissions.
Halliburton Co. v. Erica P. John Fund, Inc., 573 U.S. 258 (2014), is a United States Supreme Court case regarding class action certification for a securities fraud claim. Under the fraud-on-the-market theory, the Court had to inquire as to if markets are economically efficient. The Court presumed they are.
Dart Cherokee Basin Operating Co. v. Owens, 574 U.S. 81 (2015), was a case in which the Supreme Court of the United States clarified procedures for removing a class action lawsuit from state court to federal court. The case involved a dispute about revenue from oil and gas leases in which the defendant filed a motion to remove the case from a state court in Kansas to the United States District Court for the District of Kansas. However, the plaintiff argued that the defendant's motion was defective because the defendant's notice of removal did not include evidence demonstrating that the amount in controversy satisfied the jurisdictional threshold. The United States District Court for the District of Kansas ultimately ruled the case should be returned to the state court, and the United States Court of Appeals for the Tenth Circuit declined to review the district court's decision.
The Supreme Court of the United States handed down nine per curiam opinions during its 2016 term, which began October 3, 2016 and concluded October 1, 2017.
Bell v. Cone, 535 U.S. 685 (2002), was a Supreme Court of the United States case that upheld a death sentence despite the defendant's argument that he should not be sentenced to death because he was suffering from drug-induced psychosis when he committed the crimes. Cone also argued that he was denied effective assistance of counsel because his attorney failed to present sufficient mitigating evidence during the sentencing phase of his trial and that his attorney inappropriately waived his final argument during the sentencing phase. In an 8–1 opinion written by Chief Justice William Rehnquist, the United States Supreme Court denied Cone's petition for a writ of habeas corpus. The Court held that the actions taken by Cone's attorney during the sentencing phase were "tactical decisions" and that the state courts that denied Cone's appeals did not unreasonably apply clearly established law. Justice John Paul Stevens wrote a dissenting opinion in which he argued that Cone was denied effective assistance of counsel because his attorney failed to "subject the prosecution's case to meaningful adversarial testing."
Home Depot U. S. A., Inc. v. Jackson, 587 U.S. ___ (2019), was a United States Supreme Court case which determined that a third-party defendant to a counterclaim submitted in a state-court civil action cannot remove their case to federal court. The Court explained, in a 5–4 decision, that although a third-party counterclaim defendant is a "defendant to a claim," removal can only be performed by the defendant to a "civil action." And this holds true even when the counterclaim is in the form of a class action. The Class Action Fairness Act of 2005 permits removal by "any defendant to a class action" but this does not extend removal rights to a third-party counterclaim defendant because they are not a defendant to the original case.
The Supreme Court of the United States handed down fourteen per curiam opinions during its 2020 term, which began October 5, 2020 and concluded October 3, 2021.
Nestlé USA, Inc. v. Doe, 593 U. S. ___ (2021), is a United States Supreme Court decision regarding the Alien Tort Statute (ATS), which provides federal courts jurisdiction over claims brought by foreign nationals for violations of international law. Consolidated with Cargill, Inc. v. Doe, the case concerned a class-action lawsuit against Nestlé USA and Cargill for aiding and abetting child slavery in Côte d’Ivoire by purchasing from cocoa producers that utilize child slave labor from Mali. The plaintiffs, who were former slave laborers in the cocoa farms, brought their claim in U.S. district court under the ATS.
United States v. Arthrex, Inc., 594 U.S. ___ (2021), was a United States Supreme Court case related to the Appointments Clause of the United States Constitution as it related to patent judges on the Patent Trial and Appeal Board (PTAB). In a complex decision, the Court ruled that these judges were considered "primary officers" under the Appointments Clause, normally subject to appointment through the US President and the US Senate, but to remedy the matter, the Court ruled that the constitutional issue is resolved by allowing the PTAB decisions to be subject to review by the appropriately-appointed Director of the Patent Office.
TransUnion LLC v. Ramirez, 594 U.S. ___ (2021), was a United States Supreme Court case dealing with standing under Article III of the Constitution related to class-action suits against private defendants. In a 5–4 decision, the Court ruled that only those that can show concrete harm have standing to seek damages against private defendants.
