Litigation

Recent Posts

A Dismissal And A Settlement In Failed Bank Shareholder Lawsuits
Posted on 20 May 2011 by Kevin M. LaCroix

One of the ways in which the current wave of bank failures is different from the failures during the S&L crisis is that this time around, by comparison to that prior period, a number of the bank closures have been accompanied by shareholder lawsuits... Read More

Former Colonial Bank Executives Agree To Settle Class Action Lawsuit For $10.5 Million
Posted on 17 Aug 2011 by Kevin M. LaCroix

In a settlement that apparently will be funded entirely by D&O insurance, the plaintiffs and 23 former executives of the failed Colonial Bank of Montgomery, Alabama have agreed to settle the class action securities lawsuit that investors filed in... Read More

Parties In Tronox Securities Litigation Agree To Settle For $37 Million
Posted on 13 Aug 2012 by Kevin M. LaCroix

According to papers filed in the Southern District of New York on August 3, 2012, the parties to the Tronox securities litigation have agreed to settle the case for a total of $37 million. As I noted at the time that this suit was first filed back in... Read More

Study: 2010 Median Settlement Amount Of Securities Class Actions Hit Record
Posted on 11 Mar 2011 by Kevin M. LaCroix

Though the average dollar value of securities class action settlements approved in 2010 declined slightly compared to 2009, the median settlement amount reached record levels, according to Cornerstone Research's annual 2010 Securities Class Action... Read More

New York Comptroller, National City Corp. Settle Securities Class Action Lawsuit For $168 Million
Posted on 13 Aug 2011 by Kevin M. LaCroix

In the latest eye-popping subprime-related securities class action lawsuit settlement, the parties to the National City Corporation securities class action lawsuit have agreed to settle the case for $168 million. The proposed settlement is subject to... Read More

2nd Circuit Rejects Judge Rakoff's Reasoning In Denying Citigroup Settlement
Posted on 16 Mar 2012 by Kevin M. LaCroix

In a sharply worded March 15, 2012 per curiam opinion ( here ), a three-judge panel of the Second Circuit granted the motions of Citigroup and the SEC to stay district court proceedings in the SEC's enforcement action against the company, so that... Read More

$208.5 Million Washington Mutual Securities Lawsuit Settlement Consists Of 3 Separate Agreements
Posted on 7 Jul 2011 by Kevin M. LaCroix

The parties to the consolidated class action litigation arising out of the collapse of Washington Mutual - the largest bank failure in U.S. history -- have agreed to settle the suit for a combined $208.5 million. The settlement, which has a number of... Read More

Satyam Agrees To Pay $125 Million To Settle Securities Lawsuit
Posted on 18 Feb 2011 by Kevin M. LaCroix

In a settlement that has a number of interesting features, Satyam Computer Services, an Indian technology outsourcing company, has agreed to pay $125 million to settle the consolidated securities class action litigation pending against the company in... Read More