Court of Appeal confirms Morrisons vicariously liable for employee’s deliberate actions in first successful UK class action for data breach

The Court of Appeal has dismissed an appeal against the High Court’s decision that Morrisons was vicariously liable for its employee’s misuse of data, despite: (i) Morrisons having done as much as it reasonably could to prevent the misuse; and (ii) the employee’s intention being to cause reputational or financial damage to Morrisons itself: Wm Morrisons … Read more

FCA v Da Vinci: FSA uses court proceedings for the first time to obtain both financial penalties and permanent injunctions against a firm in a case of alleged market abuse

In Financial Conduct Authority v Da Vinci Invest and Others [2015] EWHC 2401 (Ch), the High Court granted the Financial Conduct Authority (the “FCA“) permanent injunctions and financial penalties for market abuse against two firms and three individuals. All but one of the Defendants was incorporated or resident abroad.  This decision represents the first time the FCA has … Read more

Supreme court clarifies scope of “Assets” covered by a Freezing Order

In a unanimous decision, the Supreme Court has confirmed that the right to draw down under loan agreements is caught by the expanded definition of “asset” contained in the current standard Commercial Court form of freezing order which includes “any asset which it (the respondent) has the power, directly or indirectly, to dispose of or … Read more

Conflicts of interest and sufficiency of “ethical screens” (information barriers)

A recent decision of the Commercial Court has reinforced the high threshold professional firms must meet to persuade a court as to the adequacy of information barriers put in place to prevent the disclosure of one client’s confidential information that is potentially relevant to an engagement for another client. Georgian American Alloys, Inc and others … Read more