LexisNexis® Legal Newsroom
Two 2010 Securities Suits Filing Trends Converge

Among 2010 securities class action lawsuit filing trends are two phenomena that emerged in the second-half of the year - the flurry of lawsuits filed against for-profit education companies and the proliferation of suits involving companies domiciled in China . These two filing trends converged in...

IMAX Defendants Denied Leave to Appeal Rulings Allowing Ontario Securities Case to Proceed as Global Class Action

In a February 14, 2011 order ( here ), an Ontario Superior Court Justice has denied the motion of the defendants in the IMAX securities lawsuit pending in Ontario for leave to appeal the December 2009 rulings of Ontario Superior Court Justice Katherine van Rensberg granting the plaintiffs leave to...

Credit Suisse Subprime Securities Suit Settled for $70 Million

In resolution of a securities case that at one time had actually been dismissed and that even after being revived was substantially narrowed based on the U.S. Supreme Court's Morrison decision, the parties to the Credit Suisse subprime-related securities class action lawsuit have reached a settlement...

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...

A Quick Look at Class Action Securities Lawsuit Filings Through 3Q11

Securities class action lawsuit filings continued to accumulate during the third quarter of 2011, and the filing levels remain on pace for an above average year of securities class action litigation. As was the case in earlier quarters this year, the third quarter filing level was significantly buoyed...

High Court Asked to Decide Whether Securities Suit May Proceed as a Class Action

WASHINGTON, D.C. - (Mealey's) A shareholder plaintiff and a pharmaceutical company debated in front of the U.S. Supreme Court on Nov. 5 whether a securities lawsuit may proceed as a class action even if the plaintiff is unable to plead materiality ( Amgen Inc., Kevin W. Sharer, Richard D. Nanula...

U.S. Supreme Court Rules Securities Class Action Plaintiffs Need Not Prove Materiality for Class Certification

In a much anticipated ruling in the Amgen securities class action litigation, the U.S. Supreme Court, in a 6-3 majority opinion written by Justice Ginsburg, held that a securities plaintiff is not required to prove that the allegedly misleading statements are material as a prerequisite to class certification...

Appellate Courts Set Aside Two Securities Suits Dismissals

In two decisions last week - one in the Sixth Circuit and one in the First Circuit - federal appellate courts set aside lower court dismissals of securities class action lawsuits. Although the two cases are different and the two appellate opinions address different legal issues, the two decisions...