Recent News:
Media Mention
Scott Mollen Represents the Founder, CEO and General Counsel of DataTreasury Corporation in Dismissal of $15 Billion Lawsuit
May 15, 2013 -- BNA Banking Daily
The recent decision to dismiss a $15 billion lawsuit against DataTreasury, which patented check imaging technology used by most banks, is good news for those banks and financial institutions that are named as co-defendants in pending lawsuits. Herrick, Feinstein Partner Scott E. Mollen, who represented DataTreasury founder Claudio Ballard and two other individuals in the suit, said, "This paves the way for the banks to move to dismiss if the plaintiff doesn't voluntarily withdraw."
May 15, 2013 -- BNA Banking Daily
The recent decision to dismiss a $15 billion lawsuit against DataTreasury, which patented check imaging technology used by most banks, is good news for those banks and financial institutions that are named as co-defendants in pending lawsuits. Herrick, Feinstein Partner Scott E. Mollen, who represented DataTreasury founder Claudio Ballard and two other individuals in the suit, said, "This paves the way for the banks to move to dismiss if the plaintiff doesn't voluntarily withdraw."
Media Mention
Richard Morris Quoted in Pension & Investments Article on SEC Rules Lifting Ban on General Advertising by Issuers of Private Offerings
May 13, 2013 -- Pension & Investments
Richard Morris was quoted in Pension & Investments "Buzz on advertising as regs near". The article discusses the forthcoming SEC rules that will lift the ban against solicitation and general advertising by issuers of private offerings during periods of fundraising. Richard comments: "The canvas of how you present your fund is changing and people should be embracing the change. This enables you to provide more information in a cleaner, crisper way. If you don't you're going to get lapped."
May 13, 2013 -- Pension & Investments
Richard Morris was quoted in Pension & Investments "Buzz on advertising as regs near". The article discusses the forthcoming SEC rules that will lift the ban against solicitation and general advertising by issuers of private offerings during periods of fundraising. Richard comments: "The canvas of how you present your fund is changing and people should be embracing the change. This enables you to provide more information in a cleaner, crisper way. If you don't you're going to get lapped."
Media Mention
Check-Imaging Patent Owner Ducks $15B Fraud Suit
May 13, 2013 -- Law 360
The NYS Supreme Court dismissed a $15 billion lawsuit against DataTreasury Corp and its founder Claudio Ballard brought by a purported investor who claimed he was defrauded out of profits the company made by licensing its check imaging technology to major banks. Herrick, Feinstein Partner Scott E. Mollen, counsel to Mr. Ballard and other defendants, said he was "gratified that the court carefully weeded through the 433-paragraph complaint and concluded that every single claim should be dismissed." He also noted that the decision "paved the way" for the dismissal of the pending claims against the banks by the defendant.
May 13, 2013 -- Law 360
The NYS Supreme Court dismissed a $15 billion lawsuit against DataTreasury Corp and its founder Claudio Ballard brought by a purported investor who claimed he was defrauded out of profits the company made by licensing its check imaging technology to major banks. Herrick, Feinstein Partner Scott E. Mollen, counsel to Mr. Ballard and other defendants, said he was "gratified that the court carefully weeded through the 433-paragraph complaint and concluded that every single claim should be dismissed." He also noted that the decision "paved the way" for the dismissal of the pending claims against the banks by the defendant.
Media Mention
Herrick, Weil Knock Out Investor's Suit Against DataTreasury
May 13, 2013 -- Investment Advisors
In a story about the dismissal of the $15 billion lawsuit against DataTreasury by a purported investor, it is noted that Herrick, Feinstein Partner Scott E. Mollen and Associate Marissa Leto successfully represented DataTreasury founder Claudio Ballard and other co-defendants. Mr. Mollen said that he was "extremely gratified" by the court's decision.
May 13, 2013 -- Investment Advisors
In a story about the dismissal of the $15 billion lawsuit against DataTreasury by a purported investor, it is noted that Herrick, Feinstein Partner Scott E. Mollen and Associate Marissa Leto successfully represented DataTreasury founder Claudio Ballard and other co-defendants. Mr. Mollen said that he was "extremely gratified" by the court's decision.
Media Mention
Financial Reform Special Section: Dodd-Frank Brings Regulatory Change For Investment Advisors
May 13, 2013 -- New York Law Journal
Herrick, Feinstein Partner Patrick D. Sweeney and Associate Matthew Kunkes co-authored an article about the new regulatory division between federal and state regulators and the expanded reach of regulation requirements on investment advisors which was featured in the New York Law Journal's Financial Reform Special Section.
May 13, 2013 -- New York Law Journal
Herrick, Feinstein Partner Patrick D. Sweeney and Associate Matthew Kunkes co-authored an article about the new regulatory division between federal and state regulators and the expanded reach of regulation requirements on investment advisors which was featured in the New York Law Journal's Financial Reform Special Section.
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