Judge Marrero

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The Cardozo Law Review has published a special issue, inspired by a 2016 essay from Judge Marrero entitled The Costs of Rules, the Rule of Costs, focusing on the way modern practice and procedure have needlessly made litigation so expensive and slow.  The special issue includes (among other things) a follow up article from Judge Marrero entitled Motion to Dismiss: A Dismissal of Rule 12(b)(6) and the Retirement of Twonbly/Iqbal, proposing various reforms, including severely limiting motions to dismiss that are aimed at the factual sufficiency of the allegations (as opposed to dispositive legal theories).  Judge Marrero argues that the wastefulness that inspired the adoption of the Federal Rules in 1938 (which ushered in the simple, notice pleading standard) has reappeared in a different form in today’s practice:
Continue Reading Cardozo Law Review Publishes Special Issue On Litigation Costs, Inspired by Judge Marrero Essay

At the end of an opinion today, Judge Failla issued the following warning:

Before concluding, the Court pauses to express its dissatisfaction with the blatant circumvention of its briefing-length restrictions . . .   The parties . . . are hereby warned that future attempts to evade the Court’s page limits, by relegating entire arguments to

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In a brief order Thursday, Judge Marrero imposed a sanction of $1,048.09 against a party that deliberately broke his individual rule requiring briefs be double-spaced:

At the March 24, 2017 hearing regarding plaintiff CafeX Communications’s (“CafeX”) Motion for a Preliminary Injunction (“Motion,” Dkt. No. 8.) the Court found that defendant Amazon Web Services, Inc. (“Amazon”)

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In the ongoing civil litigation against Madoff feeder fund Fairfield Greenwich and others (see our previous coverage here), Judge Marrero took the unusual step yesterday of denying Standard Chartered’s request for a pre-motion conference for their contemplated summary judgment motion.  Standard Chartered had argued that a summary judgment motion was appropriate on a number…

The SDNY Blog is relaunching as a publication of Steptoe & Johnson LLP.  We expect to post several times a week on decisions and other developments in the Southern District of New York.  You can find us right here at www.sdnyblog.com, or follow us on Twitter or Facebook.

Here’s a quick summary of what’s been happening in the Southern District while we were away:

  • Judge Berman vacated the NFL’s four-game suspension of New England Patriots quarterback Tom Brady for his alleged role in deflating footballs used during the 2015 AFC Championship Game.  Judge Berman concluded that “Brady had no notice that he could receive a four-game suspension for general awareness of ball deflation by others or participation in any scheme to deflate footballs, and non-cooperation with the ensuing Investigation.”

Continue Reading SDNY Blog Returns as Steptoe Blog

In an opinion today, Judge Marrero denied SAC Capital’s motion to dismiss a class action brought by investors in Wyeth and Elan stock who traded contemporaneously with trades that SAC allegedly made based on inside information. SAC argued (among other things) that it already disgorged to the SEC an amount larger than the amount sought in the complaint for some of the claims, but Judge Marrero found that the precise amount of any offset would have to be determined in discovery:
Continue Reading Judge Marrero Rejects SAC’s Argument that SEC Disgorgement Amount Fully Covered Investor Damages

In an opinion today, Judge Forrest dismissed as untimely claims by a Korean bank, Woori bank, against Citi arising from Woori’s investment in Citi-sponsored CDOs.  Woori argued that it did not have the facts for its claims until the Financial Crisis Inquiry Commission Report in 2011, but Judge Forrest —  echoing a similar decision by Judge Marrero in a similar suit Woori filed against Merrill Lynch (see our post here) — ruled that the underlying facts were known well before then. Woori alleged one category of facts, relating to the “Class V CDO,” that were not in the Commission report and not at issue in the prior ruling from Judge Marrero, but Judge Forrest ruled that those allegations could not revive an otherwise expired claim:
Continue Reading In CDO Case, Judge Forrest Rules That New, Helpful Facts Cannot Revive Expired Claims

In his latest MF Global ruling, issued today, Judge Marrero denied PriceWaterhouseCooper’s motion to dismiss a $1 billion malpractice and negligence suit brought by the bankrupt brokerage firm’s plan administrator. PwC had acted as an outside auditor and accountant for MF Global before it went bankrupt.  The plan administrator alleged that PwC “engaged in…

As expected, the Second Circuit’s decision in a pending appeal involving Citibank paved the way for Judge Marrero to approve, in an opinion today, the SEC’s proposed $614 million settlement with SAC Capital. Judge Marrero initially expressed concern about the settlement being on a “neither-admit-nor-deny” basis, but, since then, a jury found former SAC Capital manager Matthew Martoma criminally liable for insider trading, and SAC Capital’s affiliate, CR Intrinsic, pled guilty to criminal insider trading. These facts appeared to assuage Judge Marrero’s earlier concerns:
Continue Reading Judge Marrero Approves $614 Million SAC Capital Settlement With SEC in Light of Second Circuit Ruling in Citi Case