Thomas O. Gorman On This Week In Securities Litigation - April 29

As the jury considers the fate of Raja Rajaratnam in the largest insider trading case brought in years, the Commission continued to implement Dodd-Frank, issuing more proposed rules. The Supreme Court heard oral argument this week in a case which may significantly impact the class certification process...

This Week In Securities Litigation - Second Supreme Court Ruling This Term Favors Plaintiffs In Securities Class Actions

The Supreme Court handed its second ruling this Term which favors plaintiffs in securities class actions. What may well be the most important securities decision by the Court this term has yet to be decided. SEC enforcement brought additional insider trading cases this week. The Commission also settled...

Cornerstone Research Report Highlights Trends In Securities Class Actions

The number federal securities class action suits filed in the first half of 2011 decreased compared to the second half of 2010. At the same time however the number of cases filed increased compared to the first half of 2010, according to a new report by Cornerstone Research ( here ). For the first half...

6th Circuit Affirms Dismissal of Securities Class Action Based on SLUSA

The Sixth Circuit Court of Appeals affirmed the dismissal of a securities class action tied to the market crisis and brought against three mutual funds issued by Morgan Keegan Select Fund, Inc., an open-ended investment company. Atkinson v. Morgan Asset Management, Inc., No. 09-6265 (6 th Cir. Sept....

Cornerstone Research Report Shows Uptick In Securities Class Action Filings Over Last Year

The number of securities class actions filed in 2011 increased to 188 compared to 176 filings the prior year, according to a recent report from Cornerstone Research. That number is still below the average of 194 cases filed from 1997 through 2010. One large group of case is the 33 actions representing...

Cornerstone, NERA Reports Chronicle Securities Class Action Filings For 2012

Trends in the filing of securities class actions are chronicled in reports issued by Cornerstone Research and NERA Economic Consulting for the first half of 2012. The two reports agree on a number of items but differ on the overall trend regarding the pace of filings. Despite the differences in the reports...

The Week In Securities Litigation: A New Direction For Securities Enforcement Actions?

Changes at the top of the SEC and the DOJ's criminal division may signal a new direction for securities enforcement actions. Former U.S. Attorney Mary Jo White was nominated by the President to be SEC Chairman. At the same time Lanny Breuer, Assistant Attorney General in charge of DOJ's Criminal...