This case presents the question whether a debtor s prebankruptcy transfer of funds to its sole shareholder, in repayment of a purported loan, may be a constructively fraudulent transfer under 11 U.S.C. 548(a)(1)(B). In order to answer this question, we must determine whether a bankruptcy court ...   MORE>>

Nelson Gomes, an investor in the American Century International Discovery Fund ( the Fund ), brought Maryland common-law claims and federal racketeering claims for violations of 18 U.S.C. 1962(c) and (d) against the appellees, who are the Fund s fiduciaries ( the fiduciaries ). Among ...   MORE>>

This is the second time this court has entertained appeals in this long-running litigation relating to the failure of Meritor Savings Bank ( Meritor ). Meritor failed in 1992 after the Federal Deposit Insurance Corporation ( FDIC ) breached a capital agreement with Meritor. We previously aff...   MORE>>

This is an appeal from a judgment awarding unpaid wages and liquidated damages under the Fair Labor Standards Act ( FLSA ). Appellees challenge the judgment itself, as well as the district court s denial of their post-trial motions under Federal Rules of Civil Procedure 50(b) and 59(e). For th...   MORE>>

Plaintiffs-Appellants American Premier Underwriters, Inc. and American Financial Group, Inc. (collectively APU ) appeal the district court s dismissal of five of its claims against Defendant-Appellee National Railroad Passenger Corporation ( Amtrak ). For the following reasons, we reverse...   MORE>>

Respondent determined penalties of $9,127 pursuant to section 6662(a) for 2003, $17,048 pursuant to section 6662A for 2004, and $2,663 pursuant to section 6662A for 2005. Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the year in issue, and all Rule...   MORE>>

Respondent determined deficiencies in petitioners Federal income tax of $6,791 and $5,982 for 2005 and 2006, respectively, and - 2 - [*2] accuracy-related penalties under section 6662(a)1 of $1,208 and $887 for 2005 and 2006, respectively. As discussed infra pp. 7-8, respondent lodged an amende...   MORE>>

A shareholder derivative action permits a shareholder of a corporation to bring suit to enforce rights the corporation is unable or unwilling to enforce on its own behalf. See Kamen v. Kemper Fin. Servs., Inc., 500 U.S. 90, 95 (1991). However, to prevent abuse of this procedural device, a shareholde...   MORE>>

Section 11 of the Securities Act of 1933, 15 U.S.C. 77k, provides a cause of action to any person who buys a security issued under a materially false or misleading registration statement. Plaintiffs need not have purchased shares in the offering made under the misleading registration statement;...   MORE>>

These consolidated cases are a partnership-level proceeding subject to the unified audit and litigation procedures of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. L. No. 97-248, sec. 402(a), 96 Stat. at 648 (codified as amended at sections 6221-6233). These cases arose out of two short...   MORE>>