LexisNexis® Legal Newsroom
The Sands of Time: An Interesting New Subprime Securities Suit

The subprime and credit crisis-related litigation wave may now be in its fourth year, but lawsuits continue to come in. The latest of these suits - a securities class action lawsuit involving Las Vegas Sands - has a number of interesting features, and it also raises the question whether we may...

Duane Morris Alert: Supreme Court Sets Stage for Skirmish on Price Impact and Securities Class Certification

In Erica P. John Fund, Inc. v. Halliburton Co. , 1 the U.S. Supreme Court reversed a Fifth Circuit decision that required a putative class of investors to prove loss causation in order to attain class certification. The Court rejected defendant Halliburton's argument that the Fifth Circuit's...

Applying Morrison, Court Rejects Toyota Shareholders' Japanese Law Securities Claims

The U.S. Supreme Court's June 2010 decision in Morrison v. National Australia Bank looked like the end of securities claims in U.S. courts on behalf so-called "f-cubed" claimants - that is, foreign shareholders of foreign-domiciled companies who bought their shares on foreign exchanges...

Erica P. John Fund v. Halliburton: What is the Basic Presumption Worth?

Excerpt: Erica P. John Fund, Inc. v. Halliburton Co, No. 09-1403 has the potential to rewrite the standards for certifying a class in securities fraud actions. The High Court heard argument on April 25, 2011 and should hand down its decision prior to the end of the term in June. The issue the Court...

Revolt of the Shareholder Plaintiff

Wait ... this is unusual. According to a piece by Tom Hals of Reuters , the lead plaintiff - not his lawyer, but the lead plaintiff himself - is opposing settlement of the shareholder litigation in the J Crew transaction. The J Crew MBO was on the receiving end of a shareholder lawsuit and for good...

Changes in the Plaintiffs' Class Action Bar and the Changing World of Shareholder Litigation

The changing mix of corporate and securities litigation is a recent phenomenon on which I have frequently commented on this blog . While identifying the fact of the change is relatively straightforward, explaining it is more challenging. According to a January 11, 2012 article in The Review of Securities...

High Court to Determine Whether Presuit Demand Was Necessary in Securities Suit

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 24 agreed to hear an appeal of a First Circuit U.S. Court of Appeals ruling in a shareholder derivative lawsuit and determine whether the Circuit Court abused its discretion in determining that shareholders had properly shown that demand...