Section 75-1.1 claimants find themselves stuck in a HAJMM sandwich when their complaint arises out of conduct that occurs in a securities transaction, but for which the securities laws provide no remedy. In these circumstances, the securities exemption based on HAJMM Co. v. House of Raeford Farms, Inc. will bar […]
As we’ve discussed before, N.C. Gen. Stat. § 75-1.1 does not apply to securities transactions. Courts have held that disputes involving securities transactions are not “in or affecting commerce” under the statute. The securities exemption was born in Skinner v. E.F. Hutton & Co. In HAJMM Co. v. House of Raeford […]
We wrote last summer about a decision applying the trebling feature in N.C. Gen. Stat. § 75-16 to satisfy the minimum amount in controversy required to remove a case to federal court based on diversity jurisdiction. In that case, the court found that a removing defendant did satisfy the threshold […]
If you’ve ever pulled up N.C. Gen. Stat. § 75-1.1 on WestLaw or Lexis, you may have noticed that the statute is flagged as “unconstitutional or preempted.” This notation is there, in part, due to a 2008 case that holds that the Copyright Act of 1976 (17 U.S.C. §§ 106, […]
