LexisNexis® Legal Newsroom
Judge Approves $730M Securities Settlement With Citigroup, Shareholders

NEW YORK — (Mealey’s) A federal judge in New York on August 20 granted final approval of a securities class action settlement between investors and Citigroup Inc. and others, ruling that the terms of the settlement meet the statutory guidelines ( In re Citigroup Inc. Bond Litigation , No...

Supreme Court Refuses To Overrule Basic v. Levinson Presumption in Securities Fraud Suits

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today found that Halliburton Co. has not shown a “special justification” for overruling the reliance presumption of Basic v. Levinson , 485 US. 224 (1988) in securities fraud cases ( Halliburton Co., et al. v. Erica F. John...

Halliburton: Assessing Its Impact on Securities Class Actions

The Supreme Court declined to scrap the way in which securities class actions are typically brought in Halliburton Co. v. Erica P. John Fund, No. 13-317 (Decided June 23, 2014) [lexis.com subscribers may access Supreme Court briefs and the opinion for this case]. At the same time it may have rewritten...

Shareholders, Underwriters Reach $340M Settlement in Securities Class Action

NEW YORK — (Mealey’s) Shareholders and underwriters in a securities class action lawsuit stemming from IndyMac Bancorp’s certificate offerings over a three-year period from 2005 to 2007 have agreed to settle all claims for $340 million, according to court documents filed Thursday by...

Supreme Court Vacates Ruling in Securities Suit, Remands for Further Review

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today granted a petition for writ of certiorari in a securities class action lawsuit seeking determination of whether, pursuant to Section 11 of the Securities Act of 1933, a plaintiff must show not only that an opinion contained false...