There's Just One Little Problem About That $725 Million AIG Securities Suit Settlement

When Ohio Attorney General Richard Cordray announced this past Friday that he had entered a massive $725 million settlement on behalf of three Ohio pension funds in the long standing securities class action lawsuit against AIG, he definitely accomplished his objective -his announcement made the front...

Delaware Supreme Court Dismisses Claims Against PricewaterhouseCoopers

Teachers' Retirement System of Louisiana v. PricewaterhouseCoopers LLP, Del. Supr., No. 454, 2009 (Jan. 3, 2011), read Order here. The Delaware Supreme Court affirmed the decision of the Chancery Court to dismiss claims against PwC, based on the New York law regarding the somewhat arcane concept...

PricewaterhouseCoopers Prevails In Decision On AIG “In Pari Delicto” Case

The Supreme Court of the State of Delaware issued an opinion on January 3rd, 2011 affirming the dismissal of claims against PricewaterhouseCoopers (PwC) in the Teachers Retirement System of Louisiana derivative suit. This suit, as described further below, relates to an earlier fraud case at AIG. ...

Catching Up on Rulings in Key Subprime-Related Securities Cases

Over the last few days, there have been a series of rulings in high-profile lawsuits arising out of the subprime meltdown and credit crisis. As discussed below, just in the past week there were dismissal motion rulings in cases involving Freddie Mac, Wachovia/Wells Fargo, and AIG. Though some or...