Recent Posts

M&A-Related Lawsuit Filings Now Outnumber Federal Securities Class Action Filings
Posted on 10 Jan 2012 by Kevin M. LaCroix

In a prior post ( here ), I examined the mounting problems associated with the increasing levels of M&A-related litigation. A recent academic paper takes a closer look at these issues and concluded, among other things, that M&A-related lawsuit... Read More

Cornerstone Releases 2010 Securities Litigation Study
Posted on 21 Jan 2011 by Kevin M. LaCroix

As a result of a spike in second half filings, the number of new securities class action lawsuits increased slightly in 2010 compared to the year before, although the 2010 filing levels remained below historical averages, according to the annual study... Read More

Securities Class Action Litigation Follows LIBOR Scandal
Posted on 23 Jul 2012 by Kevin M. LaCroix

At the PLUS D&O Symposium in New York this past March, I participated on a panel entitled, "Financial Institutions Underwriting: Is it Safe to Come Out Yet?" The implication of the panel topic was that perhaps with the passage of the credit... 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

Phenomenon Of Securities Class Action Opt-Out Cases May Be Back
Posted on 5 Aug 2011 by Kevin M. LaCroix

Settlement opt-outs have been always been a feature of securities class action litigation. However, as part of the settlements of the huge cases filed during the era of corporate scandals at the beginning of the last decade, opt outs became more prevalent... Read More

Federal Judge Dismisses Securities Class Action Against U.S.-Listed Chinese Company
Posted on 14 Oct 2011 by Kevin M. LaCroix

In what is as far as I know the first outright dismissal motion grant in the wave of cases filed against U.S.-Listed Chinese companies that began last year, on October 6, 2011, Southern District of New York Judge Miriam Goldman Cedarbaum granted the defendants'... Read More

Some Securities Class Action Lawsuits Still Being Filed After Considerable Delay
Posted on 4 Aug 2011 by Kevin M. LaCroix

Among other things, Cornerstone Research's mid-year 2011 analysis of securities class action lawsuit filings reported that during the year's first half lawsuits were filed more quickly. The report said that in the first six months of 2011 "the... 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

Cornerstone Report Says Securities Class Actions Involving Accounting Allegations Less Likely To Be Dismissed, Take Longer To Resolve
Posted on 13 Apr 2013 by Kevin M. LaCroix

Securities class action lawsuits involving accounting allegations are less likely to be dismissed, take longer to resolve, and make up a much greater proportion of total securities suit settlement dollars than non-accounting cases, according to a new... Read More

NERA Releases Year-End 2010 Securities Class Action Litigation Study
Posted on 17 Dec 2010 by Kevin M. LaCroix

On December 14, 2010, NERA Economic Consulting released its annual year-end study of securities class action lawsuit filings and settlements. The report, entitled "Trends 2010 Year-End Update," can be found here . Among other things, the NERA... Read More

14 Former Lehman Brothers Execs Agree To Settle Securities Class Action For $90 Million
Posted on 1 Sep 2011 by Kevin M. LaCroix

In a development that undoubtedly will attract comment and controversy, fourteen former Lehman Brothers executives--including former Lehman Chairman and CEO Dick Fuld --have reached an agreement to settle the consolidated securities class action litigation... 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

Kevin LaCroix Discusses Securities Class Action Trends And D&O Issues In 2010
Posted on 2 Feb 2011 by LexisNexis Litigation Resource Community Staff

On this edition, Kevin LaCroix, an attorney and a partner in OakBridge Insurance Services in Beachwood, Ohio, discusses securities class action trends from 2010, the development of litigation arising from recent bank failures and key U.S. Supreme Court... Read More

Foreclosure Fiasco Fallout Now Also Includes Securities Suit
Posted on 3 Dec 2010 by Kevin M. LaCroix

The foreclosure paperwork and processing mess has been unfolding on the front pages of the nation's news papers for several weeks now. While the situation has created a lot of uncertainty, the one thing that seemed probable was that litigation would... Read More

NERA Report Says Securities Class Action Filings At Or Above Historic Levels In 2012
Posted on 27 Jul 2012 by Kevin M. LaCroix

According to NERA Economic Consulting's mid-year 2012 report, securities class action lawsuit filings were at or above historical levels in 2012, and though average securities class action lawsuit settlements during the year's first half approached... Read More