Westlaw Journals weekly round-up

April 30, 2015

Westlaw Journals Weekly RoundupThis week some highlights from the Westlaw Journal blog include a story about ammunition websites’ liability for a Colorado movie theater mass shooting and tax return information for Obamacare enrollees:

Parents lost daughter to mass shooter, now owe $220,000 to his suppliers: The mother and stepfather of a 24-year-old woman killed in a Colorado movie theater mass shooting not only can’t sue the websites where gunman James Holmes bought his ammunition and equipment, but now they may owe two of the businesses more than $220,000 in legal costs. Senior U.S. District Judge Richard P. Matsch of the District of Colorado dismissed Sandy and Lonnie Phillips’ suit against four websites because Colorado and federal laws shield firearms and ammunition sellers from liability based on a customer’s wrongful acts. Phillips et al. v. Lucky Gunner LLC et al., No. 14–cv–02822, 2015 WL 1499382 (D. Colo. Mar. 27, 2015). (Computer & Internet)

The intersection of Obamacare and your tax return: Corrected tax statements have been sent to Obamacare enrollees who learned earlier this year that the initial statements were incorrect and could delay their tax returns. According to the Centers for Medicare & Medicaid Services, by April 1 the Health Insurance Marketplace had provided updated 1095-A forms to the vast majority of consumers who were initially given incorrect information. Overall, CMS estimated that 820,000 taxpayers were affected.  (Health Care Fraud)

2nd Circuit revives $900 million CDO suit: An insurer has won reversal of a Manhattan federal judge’s dismissal of its lawsuit against Putnam Advisory Co. in a dispute over the selection of assets underlying a failed collateralized debt obligation. The 2nd U.S. Circuit Court of Appeals overturned a decision by U.S. District Judge Robert W. Sweet of the Southern District of New York to dismiss Financial Guaranty Insurance Co.’s suit. The appeals panel said FGIC successfully argued that its complaint sufficiently alleges Putnam’s selection process caused the insurance company’s losses. (Derivatives)

New York trial court reverses $11 million meso verdict: A New York trial court judge has set aside an $11 million verdict and granted judgment for defendant Ford Motor Co. after finding no foundation for admitting testimony by the plaintiffs’ experts. “Evidence of [the plaintiff’s] ‘regular’ exposure to brakes, clutches or gaskets sold or distributed by defendant during his work life, absent any quantification of the exposure, is insufficient to constitute a scientific expression of his exposure,” Justice Barbara Jaffe of the New York Supreme Court said in an April 13 order. (Asbestos)