The Investors’ Control of Their Investment Advisers. Who Has the Final Word?

TAMAR FRANKEL

BU Law emerita professor Tamar Frankel discusses an emerging issue affecting financial advisers—when a client may exercise control over the actions of the adviser. Frankel relates the story of an investment adviser that did not follow the client’s orders to cease certain investments, at a cost of almost $5 million to the client. As Frankel explains, the Securities and Exchange Commission (SEC) got involved, resulting in the investment adviser’s settlement for a significant payment to the client and other conditions.

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In re Gay

Docket: S130263

Opinion Date: February 13, 2020

Judge: Kruger

Areas of Law: Civil Rights, Constitutional Law, Criminal Law

The Supreme Court granted Petitioner habeas corpus relief, holding that Petitioner was denied his constitutional right to the assistance of competent counsel at the guilt phase of his criminal trial, and trial counsel's deficient performance undermined the reliability of the jury's guilty verdict. Petitioner was convicted of the first degree murder of a police officer and sentenced to death. While his appeal was pending, Petitioner filed his first petition for a writ of habeas corpus, arguing that the judgment should be vacated because he had received constitutionally ineffective assistance of counsel. During the habeas proceedings, the Supreme Court found that Petitioner's trial counsel had defrauded Petitioner in order to induce Petitioner to retain him instead of the public defender. Counsel went on to commit serious errors during the penalty phase undermining the reliability of the death verdict. The Supreme Court granted the petition and ordered a new penalty phase trial. Petitioner later filed this petition for a writ of habeas corpus challenging his convictions. The Supreme Court granted the writ and vacated Defendant's conviction for first degree murder, holding that Petitioner was denied the effective assistance of counsel at the guilt phase of his trial.

Frlekin v. Apple Inc.

Docket: S243805

Opinion Date: February 13, 2020

Judge: Tani Cantil-Sakauye

Areas of Law: Class Action, Labor & Employment Law

The Supreme Court granted the request of the United States Court of Appeals for the Ninth Circuit to decide a question of California law regarding Industrial Welfare Commission wage order No. 7-2001 (Wage Order 7), which requires employers to pay their employees a minimum wage for all "hours worked," concluding that time spent on the employer's premises waiting for, and undergoing, mandatory exit searches of bags, packages, or personal technology devices voluntarily brought to work purely for personal convenience by employees is compensable as "hours worked" within the meaning of Wage Order 7. Employees filed a class action complaint against Employer, Apple Inc., alleging that Employer failed to pay them minimum and overtime wages for time spent waiting for and undergoing Employer's exit searches in violation of California law. A federal district court granted summary judgment for Employer. On appeal, the Ninth Circuit asked the Supreme Court to address the state law issue. The Supreme Court concluded that, in the instant case, Employees' time spent on Employer's premises waiting for, and undergoing, required exit searches of packages, bags, or personal technology devices, such as iPhones, brought to work purely for personal convenience, is compensable as "hours worked" within the meaning of Wage Order 7.