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Murray, Frank & Sailer LLP Files Securities Class Action Against Toyota

NEW YORK — Murray, Frank & Sailer LLP announced Feb. 18 that it has filed a class action complaint in the U.S. District Court for the Southern District of New York (No. 10 Civ. 1175) on behalf of all individuals and institutions who purchased Toyota Motor Corp. publicly traded securities...

High Court Weighs Fraud Lawsuit Against Aussie Bank

WASHINGTON, D.C. – (AP) The Supreme Court indicated Monday it could prohibit foreign investors from using U.S. securities law and American courts to sue a foreign bank for fraud. The court heard argument in a challenge from Australian investors who want to sue the Melbourne-based National Australia...

Barroway Topaz Ranked Among Top 5 Law Firms Of 2009 For Recoveries, Settlements In Securities Class Actions

RADNOR, Pa. — Leading class action and corporate governance law firm Barroway Topaz Kessler Meltzer & Check LLP has again been ranked among the nation's top five law firms of 2009 for highest investor recovery in securities class actions and number of settlements, according to RiskMetrics...

Baron & Budd Class Action Lawsuit Alleges Price Fixing Involving Marine Products

LOS ANGELES — Baron & Budd P.C. attorneys, working with attorneys from Los Angeles-based Glancy Bingow & Goldberg LLC, New York securities law firm Labaton Sucharow LLP, Mobile, Ala.-based Vickers, Riis, Murray and Curran L.L.C. and Galveston attorney A. Craig Eiland, have filed suit in...

Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Goldman Sachs Group Inc.

NEW YORK — Robbins Geller Rudman & Dowd LLP on April 26 announced that a class action has been commenced in the U.S. District Court for the Southern District of New York on behalf of purchasers of the common stock of Goldman Sachs Group Inc. between Oct. 15, 2009, and the time it was publicly...

High Court: Investors Properly Pleaded Materiality In Securities Class Action Suit

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on March 22 unanimously affirmed that shareholders of a drug maker properly showed that the drug maker violated federal securities law by failing to disclose that one of its products caused adverse effects ( Matrixx Initiatives, Inc., et al. v...

High Court Hears Oral Argument In Shareholder Derivative Suits Appeal

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Nov. 29 heard oral arguments in a shareholder derivative suit appeal seeking a determination of whether the two-year statute of limitations for bringing an action under Section 16(b) of the Securities Exchange Act of 1934 is subject to tolling...

$507 Million In Settlements Reached With Lehman Officers, Directors, Underwriters

NEW YORK - (Mealey's) In a motion made available on Dec. 5, lead plaintiffs in a securities class action lawsuit against Lehman Brothers Holdings Inc., certain of its formers officers and directors and others asked a federal judge in New York to approve two settlements totaling $507 million to settle...

Former Bear Stearns Auditor To Pay Nearly $20 Million To Settle Securities Law Claims

NEW YORK - (Mealey's) The former independent outside auditor for The Bear Stearns Cos. Inc. agreed on Monday to pay nearly $20 million to settle shareholder claims that it failed to accurately monitor the financial giant's internal controls with regard to Bear Stearns' issuance of risky subprime...

Supreme Court To Hear Appeal In Market Timing Case

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Sept. 25 agreed to hear an appeal of a Second Circuit U.S. Court of Appeals ruling allowing the Securities and Exchange Commission to seek penalties against defendants for securities fraud for conduct that was not fraudulently concealed and...

Norton Rose Fulbright: 2d Circuit Dismisses Listing Theory Under Morrison

By Johannes K. Gabel , Manuela A. Siragy and Richard Werner Fagerer The Court of Appeals for the Second Circuit in its May 6 decision emphatically continued to interpret the Morrison v. National Australia Bank 1 doctrine broadly by confirming the District Court’s dismissal of a putative securities...

U.S. High Court Hears Arguments In Case Over Appealing LIBOR Suit

WASHINGTON, D.C. — (Mealey’s) A dismissal of a lawsuit by a trial court and a statement that the case was terminated render the case appealable, Thomas C. Goldstein of Goldstein & Russell in Bethesda, Md., argued Dec. 9 before the U.S. Supreme Court ( Ellen Gelboim and Linda Zacher, et...