Litigation Resource Community

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Title	Downl.
1	Mealey's Litigation Report: Discovery	43
2	Mealey’s Litigation Report: Class Actions	11
3	Mealey’s Daubert Report	10

The Week in Securities Litigation: Companies With China-Based Operations Were SEC Focus

Companies with China based operations were a focus this week for the SEC. The Commission filed two financial fraud actions against companies whose operations were in the PRC. In one there seemed to be virtually no operations while in the other two sets...

Published Fri, May 17 2013 5:11 PM by Thomas O. Gorman

Filed under: litigation, securities, SEC, Thomas Gorman, securities litigation, SEC Actions, SEC enforcement, Mary Jo White, Daniel M. Gallagher

The Week In Securities Litigation: SEC Seeks Budget Hike, Brings 2 New Actions

The focus this week was on the proposed SEC budget as new SEC Chair Mary Jo White told a House subcommittee that the agency needs about a 26% increase. Part of the additional funding is to hire almost 700 new staff members. SEC enforcement, in conjunction...

Published Fri, May 10 2013 5:44 PM by Thomas O. Gorman

Filed under: litigation, securities, SEC, Thomas Gorman, securities litigation, money laundering, SEC Actions, SEC enforcement, FINRA, Mary Jo White

Plaintiffs Seek Approval Of $153M Securities Settlement With Fannie Mae, KPMG

WASHINGTON, D.C. - (Mealey's) Lead plaintiffs in a securities class action lawsuit against Fannie Mae and accounting firm KPMG LLP on May 7 asked a federal judge to approve a $153 million settlement that would end the lawsuit, which was brought in...

Published Wed, May 8 2013 3:30 PM by Timothy Raub

Filed under: litigation, securities, KPMG, financial services, securities litigation, State Teachers Retirement System of Ohio, Fannie Mae, Ohio Republic Retirees System, In re: Fannie Mae Securities Litigation

Advisen Says Corporate and Securities Litigation Up Slightly In First Quarter, But Below Annual Averages

During the first quarter of 2013, new corporate and securities lawsuits and regulatory enforcement actions increased slightly compared to the fourth quarter of 2012 but remained well below annual averages over the last two years, according to a new report...

Published Wed, May 8 2013 3:13 PM by Kevin M. LaCroix

Filed under: litigation, securities, D&O Diary, Kevin LaCroix, securities litigation, Advisen, securities litigation trends

SEC Reaches Settlement With Pennsylvania City Over Federal Securities Law Violations

WASHINGTON, D.C. - (Mealey's) The Securities and Exchange Commission and the City of Harrisburg, Pa., have agreed to a cease-and-desist order preventing the city from continuing its violation of federal securities laws in connection with statements...

Published Wed, May 8 2013 3:03 PM by Timothy Raub

Filed under: litigation, securities, SEC, securities fraud, Securities and Exchange Commission, Pennsylvania, securities litigation, municipal bonds, Harrisburg, In the Matter of the City of Harrisburg

Bank of America To Pay $1.7 Billion To Settle Mortgage-Backed Securities Claims

NEW YORK - (Mealey's) Bank of America Corp. (BoA) will pay nearly $1.7 billion to MBIA Inc. and certain of its subsidiaries to settle claims in New York State court that BoA misrepresented the investment quality of and risk associated with certain...

Published Tue, May 7 2013 3:54 PM by Timothy Raub

Filed under: litigation, securities, financial services, securities litigation, Bank of America, mortgage-backed securities, MBIA, credit default swaps, MBIA Insurance Corp. v. Countrywide Home Loans Inc.

The Week In Securities Litigation: FCPA A Focus, SEC Prevails In Court

The FCPA continued to be a focus this week. Another Alstrom executive was added to a pending criminal prosecution in a superseding indictment charging FCPA violations and money laundering. In court the Commission prevailed in the D.C. Circuit as well...

Published Sat, May 4 2013 5:31 PM by Thomas O. Gorman

Filed under: litigation, securities, SEC, Thomas Gorman, securities litigation, FCPA, SEC Actions, SEC enforcement

The Week In Securities Litigation: First Co-Directors Of SEC's Enforcement Division Take The Helm

George Canellos and Andrew Ceresney, two former colleagues in the Manhattan U.S. Attorney's Office, became the first Co-Directors of the SEC's Enforcement Division. The Division also secured a ruling this week which will permit its subpoena enforcement...

Published Sun, Apr 28 2013 4:55 PM by Thomas O. Gorman

Filed under: litigation, securities, SEC, Thomas Gorman, securities litigation, SEC Actions, SEC enforcement, CFTC, LIBOR, George Canellos, Gary Gensler, Andrew Ceresney, Luis A. Aguilar

The Week In Securities Litigation: $600 Million Insider Trading Settlement Reached

The Second Circuit's pending decision in the Commission's Citigroup market crisis case continues to loom as Judge Marreno approved the over $600 million insider trading settlement involving SAC Capital - conditioned on the outcome of Citigroup...

Published Sun, Apr 21 2013 8:42 PM by Thomas O. Gorman

Filed under: litigation, securities, SEC, Thomas Gorman, settlement, securities litigation, Second Circuit, FCPA, insider trading, SEC Actions, DOJ, citigroup, SAC Capital, Mary Jo White, market crisis, Andrew Ceresney

Court Dismisses ERISA Case Concerning Investments in Mortgage-Backed Securities

By Mark S. Thomas and Robert W. Shaw The U. S. Court of Appeals for the Second Circuit has affirmed the dismissal of a case brought against Morgan Stanley Investment Management Inc. ("Morgan Stanley") concerning certain investments in mortgage...

Published Thu, Apr 18 2013 4:40 PM by Williams Mullen

Filed under: litigation, securities, ERISA, Employee Retirement Income Security Act, securities litigation, Second Circuit, mortgage-backed securities, Morgan Stanley, Williams Mullen, Pension Benefit Guaranty Corp., Morgan Stanley Investment Management, Saint Vincent Catholic Medical Centers Retirement Plan, Pension Benefit Guaranty Corp. v. Morgan Stanley Investment Management Inc., Queensbrook Insurance Ltd., Saint Vincent Catholic Medical Centers

Fifth Third Agrees To Pay $16M To Settle Federal Securities Law Claims

CINCINNATI - (Mealey's) Fifth Third Bancorp and a number of other defendants agreed to pay $16 million to settle claims that Fifth Third misrepresented its involvement in the subprime securities market in violation of federal securities laws, according...

Published Wed, Apr 17 2013 4:50 PM by Timothy Raub

Filed under: litigation, securities, settlement, financial services, securities litigation, The Eshe Fund v. Fifth Third Bancorp, Edwin B. Shelton, District No. 9, Local 295/Local 851 IBT Employer Group Pension Trust and Welfare Funds, I.A. of M. & A.W. Pension Trust, subprime securities, Fifth Third Bancorp

Parties To Countrywide Mortgage-Backed Securities Lawsuit Suit Settle For $500 Million

In what is the largest settlement so far of an mortgage-backed securities class action lawsuit filed as part of the subprime and credit-crisis securities litigation wave, the parties to the consolidated Countrywide mortgage-backed securities suit pending...

Published Wed, Apr 17 2013 3:38 PM by Kevin M. LaCroix

Filed under: litigation, securities, D&O Diary, Kevin LaCroix, Countrywide Home Loans, securities litigation, Credit Crisis, mortgage-backed securities

The Week In Securities Litigation: Mary Jo White Becomes 31st Chairman Of SEC

Mary Jo White became the thirty-first chairman of the SEC this week. Ms. White take the helm of an agency at a cross-roads. While it has made great strides since the beginning of the financial crisis and a series of scandals many have questioned the vigor...

Published Sat, Apr 13 2013 1:56 PM by Thomas O. Gorman

Filed under: litigation, securities, SEC, Thomas Gorman, securities litigation, SEC Actions, SEC enforcement, JOBS Act, Mary Jo White, Lona Naliengara

Cornerstone Report Says Securities Class Actions Involving Accounting Allegations Less Likely To Be Dismissed, Take Longer To Resolve

Securities class action lawsuits involving accounting allegations are less likely to be dismissed, take longer to resolve, and make up a much greater proportion of total securities suit settlement dollars than non-accounting cases, according to a new...

Published Sat, Apr 13 2013 1:54 PM by Kevin M. LaCroix

Filed under: litigation, securities, D&O Diary, Kevin LaCroix, securities litigation, securities class action, Cornerstone Research, accounting cases

Bernie Madoff Investors' Lawsuit Against SEC Tossed By Federal Appeals Court

Despite the 'regrettable inaction' by the Securities and Exchange Commission ("SEC") in failing to detect Bernard Madoff's historic $65 billion Ponzi scheme, a federal appeals court ruled that those victimized by Madoff's fraud...

Published Fri, Apr 12 2013 5:14 PM by Jordan D. Maglich

Filed under: litigation, securities, SEC, securities litigation, Jordan Maglich, Bernie Madoff, Ponzi schemes, Ponzitracker, Securities & Exchange Commission