The Clients’ Waiver of Their Rights Under Regulation BI of the Securities and Exchange Commission

TAMAR FRANKEL

BU Law emerita professor Tamar Frankel discusses the Securities and Exchange Commission (SEC)’s Regulation Best Interest (BI), which imposes on broker-dealers a commitment to act in the best interests of their clients. Specifically, Frankel addresses the SEC’s treatment of client waivers of the Regulation BI, which goes even further than general fiduciary law to prohibit any waiver of the broker-dealer’s conflicting interests.

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Eldridge v. West

Court: Idaho Supreme Court - Civil

Docket: 45214

Opinion Date: February 18, 2020

Judge: Stegner

Areas of Law: Civil Procedure, Health Law, Medical Malpractice

Phillip and Marcia Eldridge filed a medical malpractice suit against Dr. Gregory West (West), Lance Turpin, PA-C (Turpin), and Summit Orthopaedics Specialists, PLLC (Summit), alleging Phillip became infected with Methicillin-Resistant Staphylococcus Aureus (MRSA) as a result of malpractice committed by West, Turpin, and agents of Summit. West performed hip replacement surgery on Phillip’s right hip in October 2009. In 2012, West performed what he later described as exploratory surgery on Phillip’s hip to determine the source of Phillip’s pain, as well as the potential replacement of components if an infection were found. All of the test results from the samples sent to the pathology department indicated there was no infection in the hip. Rather than explant the hip in its entirety, West replaced only the metal ball at the head of the femur with a ceramic ball. Following the second surgery, Phillip experienced numerous adverse complications. Phillip would have another revision a few months later, during which the MRSA was discovered. The Eldridges claimed West and Turpin breached the standard of care that was due them and as a result, sustained damages. The district court granted various motions, including a motion to dismiss certain causes of action against West, Turpin, and Summit, as well as a motion for summary judgment brought by Turpin and Summit, and a motion for partial summary judgment brought by West. In their appeal, the Eldridges contended the district court erred by: (1) dismissing their claims for negligent and intentional infliction of emotional distress, gross negligence, and reckless, willful, and wanton conduct; (2) denying their motion to strike the affidavits of West and Turpin; (3) limiting their claim for damages; and (4) concluding that the Eldridges could only present evidence of damages, specifically medical bills, after the Medicare write-offs had been calculated. In affirming in part and reversing in part, the Idaho Supreme Court concluded the district court erred in refusing to strike portions of West’s first affidavit and Turpin’s affidavit because they were conclusory. Furthermore, the district court abused its discretion in precluding the Eldridges from putting on proof of damages that arose after April 24, 2013, and their presentation of damages. Orders granting summary judgment to West regarding the Eldridges’ informed consent claim and Turpin were affirmed. The matter was remanded for further proceedings.

Bright v. Sorensen

Court: Utah Supreme Court

Citation: 2020 UT 7

Opinion Date: February 18, 2020

Judge: Thomas R. Lee

Areas of Law: Medical Malpractice

In three consolidated cases, the Supreme Court affirmed the decisions of the district judges denying in large part Defendants' motions to dismiss these medical malpractice lawsuits on time-bar grounds and reversed the judgment of one of the three judges granting the motion to dismiss as to a negligent credentialing claim, holding that Plaintiffs sufficiently alleged fraudulent concealment to avoid dismissal. Plaintiffs, three former patients of Dr. Sherman Sorensen, sued Sorensen, his business entity, and either St. Mark's Hospital or IHC Health Services, Inc., alleging that Sorensen performed unnecessary heart surgery on them. Defendants moved to dismiss each case on the ground that Plaintiffs' claims were time-barred under the Utah Health Care Malpractice Act. Defendants also contended that the time bar was not tolled by the statute's "fraudulent concealment" or "foreign object" exceptions. The three district judges denied the motions to dismiss. The Supreme Court affirmed in part, holding(1) the statutory tolling provisions in Utah Code 78B-3-404(2) apply to both the two-year limitations period and the four-year repose period in section 78B-3-404(1); and (2) responses to affirmative defenses are not subject to the pleading requirements of rules 8 and 9 of the Utah Rules of Civil Procedure.

Ruiz v. Killebrew

Court: Utah Supreme Court

Citation: 2020 UT 6

Opinion Date: February 13, 2020

Judge: Himonas

Areas of Law: Medical Malpractice

The Supreme Court affirmed the judgment of the district court granting summary judgment for Defendants, a hospital and a midwife, holding that Plaintiff failed to produce expert evidence that created a genuine dispute of material fact as to the causation element of her medical malpractice claim. Thirteen years after her baby sustained brain damage during delivery, Plaintiff, as parent and natural guardian of her minor child, sued Defendants, alleging that the hospital's labor-and-delivery nurses and the midwife inadequately monitored Plaintiff's labor, which resulted in the child's hypoxic brain injury. The district court granted partial summary judgment for Defendants dismissing Plaintiff's claims for premajority medical expenses and then later dismissed Plaintiff's remaining negligence claims. The Supreme Court affirmed, holding that the district court properly found that Plaintiff failed to provide evidence that would establish the necessary causal link between the alleged breaches in standard of care and the supposed injury to the child.