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Sep 8 2021
2nd Cir. 18-3715 Panel Decision

United States v. Percoco

The Second Circuit affirmed the convictions of Joseph Percoco and Steven Aiello for honest-services wire fraud and bribery, ruling that while a jury instruction regarding 'as opportunities arise' was legally imprecise, the error was harmless. The court further reaffirmed that non-employees can owe fiduciary duties to the public if they dominate governmental business and are relied upon by officials.

Criminal Fraud
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Aug 23 2023
2nd Cir. 20-1643-cv Panel Decision

New England Carpenters Guaranteed Annuity and Pension Funds v. AmTrust Financial Services, Inc.

The Second Circuit held that AmTrust Financial Services' public statements regarding its accounting for extended warranty revenue and employee bonuses were actionable statements of opinion under the Securities Act. The court vacated the dismissal of these specific claims and remanded the case for trial, while affirming the dismissal of all other securities fraud allegations.

Civil Securities
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Apr 12 2021
2nd Cir. 20-3499-cr Panel Decision

UNITED STATES OF AMERICA v. TURKIYE HALK BANKASI A.S

The Second Circuit held that a denial of a motion to dismiss a criminal indictment based on the Foreign Sovereign Immunities Act is immediately appealable under the collateral order doctrine. The court further determined that even assuming FSIA immunity applies in criminal cases, the defendant bank's conduct fell within the commercial activity exception, thereby affirming the district court's denial of the motion to dismiss.

Criminal Fraud
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Feb 20 2019
11th Cir. 8:19-cv-00448-VMC-CPT Per Curiam

U.S. SECURITIES AND EXCHANGE COMMISSION v. SPARTAN SECURITIES GROUP, LTD ISLAND CAPITAL MANAGEMENT CARL E. DILLEY MICAH J. ELDRED DAVID D. LOPEZ

The Eleventh Circuit affirmed the district court's decision in a securities fraud case involving Spartan Securities Group and Island Capital Management. The court upheld the SEC's enforcement action against the defendants for making false statements to obtain FINRA clearance and DTC eligibility.

Criminal Embezzlement & Forgery
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Nov 21 2017
2nd Cir. 15-690 Panel Decision

Peterson v. Islamic Republic of Iran

The Second Circuit vacated a dismissal of claims against foreign banks, holding that New York law permits courts to compel non-sovereign possessors to turn over extraterritorial sovereign assets. The court affirmed that settlement agreements released some non-turnover claims but left others unresolved, remanding the case for further proceedings on jurisdiction and immunity.

Bankruptcy Civil
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