Block on Trump's Asylum Ban Upheld by Supreme Court
In an appeal from an order imposing sanctions on three attorneys and their law firms pursuant to Fed. R. Civ. P. 11 and the mandatory sanctions provision of the Private Securities Litigation Reform Act of 1995, the order is affirmed to the extent that it imposed sanctions, where In re Pennie & Edmonds LLP, 323 F.3d 86 (2d Cir. 2003) (Pennie) did not require the district court to find subjective bad faith before imposing sanctions. However, because the concerns identified in Pennie remained relevant to assessing the "reasonableness" of an opposing party's fees under 15 U.S.C. section 78u-4(c)(3), the amount of the award is vacated and the case is remanded for further proceedings.
Argued: July 6, 2009
Decided: September 2, 2009
Opinion by Chief Judge Jacobs