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HOW DO CONTRACTORS GET PAID IN FULL FOR THEIR NEVADA CONSTRUCTION WORK?

fraud

Business Court Allows Securities Fraud Lawsuit to Move Forward

In a September 13, 2016 Order, Department 7 of the Washoe County Business Court denied a securities fraud defendant’s motion to dismiss, but ordered the plaintiff to re-plead its complaint. Background The Plaintiff alleged that he invested $1,000,000 in a redevelopment of the Cal Neva Lodge located in Crystal Bay, Lake Tahoe. He alleged that […]

High-Yield CDs: Red Flags That Signal a Scam

The FINRA Investor Education Foundation has issued an investor alert regarding promotions about certificates of deposit (CDs) promising interest rates that are substantially higher than current averages. FINRA has observed offers for “low-risk” products with outsized returns. Investors should be wary of unsolicited emails and calls that offer outsized interest from financial institutions, including banks […]

Update–Shareholder Derivative Action Dismissed for Second Time

By Jerry Carter. In September 2012, we wrote about a Washoe County Business Court Order dismissing a shareholder derivative lawsuit against officers and directors of International Game Technology (“IGT”).  The Court granted the plaintiff leave to amend the complaint.  Now the amended complaint has been dismissed as well.  See Order Dated January 9, 2013. The Business […]

Nevada Supreme Court Overturns Fraudulent Inducement Judgment Arising out of a Construction Subcontract

By Jerry Carter.  In its recent opinion in Road and Highway Builders, LLC v. Northern Nevada Rebar, Inc., 128 Nev. Adv. Op. 36 (August 9, 2012), the Nevada Supreme Court attempted to elucidate the sometimes blurry line between breach of contract and fraudulent inducement. The general contractor was the successful bidder on a freeway construction […]

Washoe County Business Court Finds That Shareholder Derivative Complaint Against International Game Technology Is Insufficient

By Jerry Carter.  In an August 23, 2012 Order, the Washoe County Business Court recently determined that a shareholder derivative lawsuit against officers and directors of International Game Technology (“IGT”) was insufficient.  Nevertheless, the Court granted the shareholder derivative plaintiff leave to amend the complaint. The plaintiff’s complaint attempted to allege derivative claims on behalf […]

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