Commercial Courtwatch | SCOTUS 2023-2024 Term Roundup Edition

Chronicling business litigation from the Federal Courts of Appeals and Delaware

APA | Statute of limitations for APA claims begins running from the date of plaintiff’s injury, not from the date of agency action (and interesting concurrence on the vacature vs. injunction remedy). Corner Post v. Board of Governors. 

APA | Chevron is overruled. Loper Bright v. Raimondo. 

Arbitration | Nature or employee’s job (not employer’s industry) controls applicability of FAA exemption for transportation workers. Bissonnette v. LePage Bakeries Park St. 

Arbitration | If two contracts conflict as to whether the parties’ dispute belongs in arbitration a court must decide which contract governs. Coinbase v. Suski. 

Arbitration | Court can’t dismiss case when party properly requests stay pending arbitration. Smith v. Spizzirri. 

Appropriations Clause | Congressional authority for CFPB to draw money from Federal Reserve satisfies appropriations clause. CFPB v. CFSA.

Banking | State law regulating bank activity preempted only if it significantly interferes with a national bank’s exercise of its powers. Cantero v. Bank of America. 

Bankruptcy | The bankruptcy code does not authorize a release and injunction that, as part of a plan of reorganization under Chapter 11, effectively seek to discharge claims against a nondebtor without the consent of affected claimants. Harrington v. Purdue Pharma.

Bankruptcy | Bankruptcy Clause’s fee uniformity requirement not violated by temporary past fee disparity between districts, so no refund due. Office of the U.S. Trustee v. John Q. Hammons Fall 2006, LLC.

Bankruptcy | Party-in-interest not limited to those whose obligations differ pre vs. post bankruptcy plan. Truck Insurance v. Kaiser Gypsum. 

Copyright | Three-year SOL not limit damages under Copyright Act.  Warner Chappell Music v. Nealy.

Securities | Pure omissions not actionable under Rule 10b-5. Macquarie Infrastructure Corp. v. Moab Partners, L.P.

Takings | Fifth Amendment takings clause not distinguish between legislative and administrative land-use permits. Sheetz v. County of Eldordo.

Takings | Unclear if Fifth Amendment takings clause requires federal private right of action for money damages.  DeVilliar v. United States.

Tax | Mandatory Repatriation Tax needn’t be apportioned. Moore v. U.S. 

Tax | Obligation to redeem shares not a corporate liability for tax purposes. Connelly v. United States. 

Trial | In civil penalties case against a defendant for securities fraud, the Seventh Amendment entitles the defendant to a jury trial. SEC v. Jarkesy.

Whistleblowers | Whistleblower need not prove retaliatory intent to be covered under SOA. Murray v. UBS.