Litigation

Recent Posts

SciClone Pharmaceuticals Settles FCPA Follow-On Derivative Lawsuits
Posted on 18 Oct 2011 by Kevin M. LaCroix

In a settlement that involves a company with significant Chinese operations -- and that also may represent something of a template for the settlement of FCPA enforcement follow-on civil lawsuits -- SciClone Pharmaceuticals and the individual defendant... Read More

Litigation Funding On The Rise In The United States, Abroad
Posted on 5 Feb 2013 by Kevin M. LaCroix

In last week's Advisen webinar on 2012 D&O claims trends, one of the audience questions related to the growth and relevance of litigation funding in the U.S. In responding to the question I noted, among other things, the rise of litigation funding... Read More

Cornerstone Research Report: Securities Suits ‘Depressed’ In Year's First Half
Posted on 26 Jul 2013 by Kevin M. LaCroix

Securities class action lawsuit filings “remained at depressed levels” during the first half of 2013 according to the latest report from Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse. The report, entitled... Read More

Advisen Says Corporate and Securities Litigation Up Slightly In First Quarter, But Below Annual Averages
Posted on 8 May 2013 by Kevin M. LaCroix

During the first quarter of 2013, new corporate and securities lawsuits and regulatory enforcement actions increased slightly compared to the fourth quarter of 2012 but remained well below annual averages over the last two years, according to a new report... Read More

Lawsuit Against JPMorgan Chase Alleges 'False And Misleading Statements' Regarding Securities Trading
Posted on 17 May 2012 by Kevin M. LaCroix

In the wake of JPMorgan Chase's startling news last week of its $2 billion trading loss, and of the equaling startling statements of Jamie DImon, the bank's CEO, that the losing trades were, among other things, "flawed, complex, poorly reviewed... Read More

Advisen Report Says Corporate, Securities Litigation Filing Reached 'Crescendo' In First Quarter
Posted on 21 Apr 2011 by Kevin M. LaCroix

Corporate and securities litigation filing activity reached a "crescendo" in the first quarter of 2011, according to the most recent quarterly report from Advisen, the insurance information firm. The filing rate in the year's first three... Read More

Why Ambac's Subprime Securities Suit Settlement Is Noteworthy
Posted on 17 Dec 2010 by Kevin M. LaCroix

In its December 15, 2010 filing of Form 8-K ( here ), Ambac Financial Group announced that it had entered a memorandum of understanding to settle the subprime-related securities class action lawsuits pending against the company and certain of its directors... Read More

New York Federal Judge Dismisses Securities Suit Against U.S.-Listed Chinese Company
Posted on 25 Jan 2013 by Kevin M. LaCroix

In a January 22, 2013 opinion ( here) , Southern District of New York Judge J. Paul Oetken has dismissed one of the many securities class action lawsuits that were filed against U.S.-listed Chinese companies in 2011. Though the primary interest in the... Read More

Flood Of Mergers And Acquisition Lawsuits Drive First Quarter Securities Litigation Activity
Posted on 11 Apr 2011 by Kevin M. LaCroix

Largely as a result of a flood of M&A related lawsuits, there were a significant number of new securities class action lawsuits filed in the first quarter of 2011, and even factoring out the M&A lawsuits, the first three months of the year still... Read More

Settlements Of Class Action Securities Lawsuits Involving U.S.-Listed Chinese Companies Are Relatively Modest
Posted on 9 Jul 2012 by Kevin M. LaCroix

Beginning in 2010 and accelerating in 2011, plaintiffs' lawyers filed a wave of securities class action lawsuits against U.S.-listed Chinese companies, many of which obtained their U.S. listings via reverse merger. These cases have been making their... 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

Parties To Countrywide Mortgage-Backed Securities Lawsuit Suit Settle For $500 Million
Posted on 17 Apr 2013 by Kevin M. LaCroix

In what is the largest settlement so far of an mortgage-backed securities class action lawsuit filed as part of the subprime and credit-crisis securities litigation wave, the parties to the consolidated Countrywide mortgage-backed securities suit pending... Read More

Tone Used In Disclosure Statements Can Affect Susceptibility To Securities Class Actions
Posted on 19 Jan 2012 by Kevin M. LaCroix

The tone public companies use in their disclosure statements can affect the companies' susceptibility to securities class action litigation, according to a recent academic study. The authors found that firms hit with securities litigation generally... 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