Securities Class Actions Against Life Sciences Companies 'Significant Component' Of 2011 Filings

Though down from the previous year on both an absolute and a relative basis, securities class action lawsuit filings against life sciences companies remained a significant component of all securities class action lawsuit filings during 2011, according to a March 20, 2012 memorandum entitled "Survey...

Securities Class Action Filings For First Quarter Ran Above Historical Averages

On an annualized basis, the pace of securities class action lawsuit filings for the first quarter of 2012 ran above historical averages, although the pace of filings declined compared to the prior month in the quarter's second and third months. Merger-related cases, which were such a significant...

Fordham Law Prof Catalogues Shortcomings Of Current Securities Class Action Settlement Process

The negotiated resolution of securities class action lawsuits - and absent dismissal, there is rarely any other types of securities suit resolution - is always complicated and occasionally messy, and often involves inefficiencies and sometimes produces distortions and even excesses. Anyone who has ever...

Securities Class Action Lawsuit Filed By H-P Shareholders Over Autonomy Revelations

When H-P announced on November 20, 2012 that it was taking an $8.8 billion charge after it discovered "accounting improprieties, misrepresentations and disclosure failures" at its Autonomy unit (which H-P acquired in October 2011 for $11.1 billion), there was a great deal of speculation that...

2012 Securities Class Action Filings Below Levels Of Recent Years, Historical Averages

Largely as a result of a slowdown in new filings during the fourth quarter, 2012 securities class action lawsuit filings were below the filing levels of recent years and below historical averages. Filing levels remained elevated in the natural resources, life sciences and computer services industries...

Litigation Funding On The Rise In The United States, Abroad

In last week's Advisen webinar on 2012 D&O claims trends, one of the audience questions related to the growth and relevance of litigation funding in the U.S. In responding to the question I noted, among other things, the rise of litigation funding outside the U.S., particularly in Australia and...

Merck Settle Securities Lawsuits for $688 Million, Facebook IPO Derivative Suits Dismissed

In what may be the largest settlement ever in securities class action litigation involving a pharmaceutical company, Merck has agreed to a combined settlement of $688 million to settle two related securities class action cases. The company's February 14, 2013 press release announcing the settlements...