About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

Case Citations [1] (Fall 2024)

handle is hein.ali/restt5037 and id is 1 raw text is: THE AMERICAN LAW INSTITUTE Fall 2024 Citations TORTS 3D: APPORTIONMENT OF LIABILITY TOPIC 2. LIABILITY OF MULTIPLE TORTFEASORS FOR INDIVISIBLE HARM § 16. Effect of Partial Settlement on Jointly and Severally Liable Tortfeasors' Liability S.D.N.Y.2022. Cit. and quot. but dist., coms. (c) and (g) quot. but dist. Investors in a company filed a class action for fraud against company's two founders. After one founder entered a cashless settlement with investors, a jury found that the non-settling founder was liable for intentionally defrauding investors. This court rejected investors' argument that the judgment against non-settling founder could not be reduced based on their settlement with settling founder under the Private Securities Litigation Reform Act and entered an order offsetting non-settling founder's responsibility by the percentage of responsibility attributable to settling founder. The court noted that the Act's approach to offset differed from the Restatement Third of Torts: Apportionment of Liability § 16 in that, under § 16, the approach preferred by investors, non-settling founder's offset would be limited to the percentage of settling founder's responsibility; in contrast, the Act permitted offset equal to the greater of settling founder's responsibility or the cash value of earlier partial settlements. Gruber v. Gilbertson, 647 F.Supp.3d 100, 108, 109. TOPIC 3. CONTRIBUTION AND INDEMNITY § 23. Contribution S.D.N.Y.2022. Quot. in sup. Investors in a company filed a class action for fraud against company's two founders. After one founder entered a cashless settlement with investors, a jury found that the non- settling founder was liable for intentionally defrauding investors. This court rejected investors' argument that the judgment against non-settling founder could not be reduced based on their settlement with settling founder under the Private Securities Litigation Reform Act and entered an order offsetting non- settling founder's responsibility by the percentage of responsibility attributable to settling founder. Citing Restatement Third of Torts: Apportionment of Liability § 23, the court explained that the approach set forth under the Act was common to the law of settlements, which permitted extinguishment COPYRIGHT (02024 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most