Second Circuit Requires Detailed Facts To Satisfy Morrison s mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.
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The Second Circuit reemphasized that conclusory allegations that a transaction took place in the United States will not pass muster under Morrison.
On March 4, 2021, the Second Circuit issued a Summary Order affirming the dismissal of securities fraud claims in
Banco Safra, S.A. Cayman Islands Branch v. Samarco Mineração S.A., No. 19-3976. The court concluded that the plaintiff failed to adequately plead that its purchases of debt securities issued by a Brazilian mining company constituted domestic transactions under the U.S. Supreme Court s decision in
Morrison v. National Australia Bank Ltd., 561 U.S. 247 (2010), and the Second Circuit s prior decision in
South America has seen an exceptionally dynamic evolution of its neobanking landscape, with now more than 30 live neobanks and digital banks that serve over 50 million customers out of the region’s 430 million+ population (+11%), data from Dutch fintech consultancy firm Fincog show.
These new entrants are now present across the whole region, with the exception of Venezuela, Guyana, Suriname, French Guinea, Ecuador, Bolivia and Paraguay, which have yet to welcome their first homegrown neobank, the research found.
Fincog Overview of Neo Banks in South America, Jan 2021
Brazil: South America’s neobanking hub
Unsurprisingly, Brazil stands as the hub for neobanking in South America, counting 19 players among which Nubank, a startup unicorn and the largest fintech in the broader Latin American region valued at over US$10 billion.
2020 will be remembered as the year we all lost so much. The coronavirus pandemic has swept the globe, shutting down our cities and towns, and claiming nearly two million lives to date. Outside of that, the rhythms of life continue and people die of what we could now call normal causes that is old age, disease, accidents, and other things that have nothing to do with Covid-19. In 2020, 16 billionaires passed away and in what is surprising, given the current climate, it seems none of them did so as a result of contracting Covid-19. In fact, the only known billionaire to contract coronavirus is Donald Trump, and, as we all know, he survived his battle with the deadly virus. This death toll is down from the death of 23 billionaires in 2019. Alas, 2021 has also already claimed one notable billionaire: Casino magnate Sheldon Adelson passed away this week. Of the 16 billionaires who died in 2020, nine of them were self-made, one inherited her fortune, and the other six inherited a fortun
Sixth Street to Acquire Talcott Resolution
Company to continue highly successful transformation and growth strategy implemented in partnership with investor consortium
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WINDSOR, Conn., Jan. 20, 2021 /PRNewswire/ Talcott Resolution Life Insurance Company ( Talcott Resolution or the company ) today announced that Sixth Street, a leading global investment firm, has entered into a definitive agreement to acquire the company from a consortium of investors (the consortium ), led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook, J. Safra Group, and The Hartford.
Talcott Resolution is a leading strategic partner for the insurance industry, offering a broad range of execution-focused capabilities, state-of-the-art technology and analytics, and in-force and new business solutions that provide capital flexibility and risk management efficiencies. It manages over $90