Pashman Stein Walder Hayden P.C. Mentioned in Law360 Article Regarding Big Banks and the New Jersey False Claims Act
Pashman Stein Walder Hayden P.C. was recently mentioned in a Law360 article titled, “Big Banks Urge Panel To Toss NJ Bond Marketing Claims.” Brendan M. Walsh, co-chair of Pashman Stein's Litigation practice, serves as co-counsel to Citigroup Inc. and Citibank, N.A. in the litigation, supporting attorneys at Paul, Weiss, Rifkind, Wharton & Garrison LLP. In October 2023, Superior Court Judge Douglas H. Hurd denied the banks’ motion for summary judgment on the basis of the public disclosure bar, holding that a 2023 amendment to the New Jersey False Claims Act applied retroactively, thus giving the state attorney general the right to use his veto power to prevent the qui tam case from being dismissed. Pashman Stein assisted in the banks’ successful motion for leave to appeal from Judge Hurd’s decision and the Superior Court of New Jersey, Appellate Division heard oral arguments on the appeal on October 1.
As the article explains, the attorneys arguing for the banks contended that the amendment — which was intended to bring state law into alignment with federal law — is not retroactive and the case should be dismissed based on the statutory public disclosure bar.
The appeal was heard by Judges Greta Gooden Brown and Morris Smith.
To read the full article in Law360, click here.