Litigation

Recent Posts

Judge Approves $730 Million Securities Settlement With Citigroup, Shareholders
Posted on 21 Aug 2013 by Timothy Raub

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... 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

Ohio Federal Judge Denies Motion To Dismiss Shareholder 'Say On Pay' Lawsuit
Posted on 23 Sep 2011 by Kevin M. LaCroix

Only small a small number of companies experienced a negative "say on pay" vote this past proxy season, but many of the companies that did found themselves hit with a shareholder lawsuit in the wake of the negative vote. Cincinnati Bell is one... Read More

9th Circuit Panel Reinstates $280 Million Verdict In Apollo Group Investor Class Action
Posted on 28 Jun 2010 by Timothy Raub

SAN FRANCISCO - (Mealey's) Ruling that a federal district court erred in granting Apollo Group Inc. judgment as a matter of law, a Ninth Circuit U.S. Court of Appeals panel on June 23 reversed the district court's ruling and remanded with instructions... Read More

SEC Prevails In Lawsuit Challenging Conflict Mineral Rules
Posted on 22 Aug 2013 by Thomas O. Gorman

The Commission prevailed in a dispute challenging its conflict minerals rules brought by business groups, a seemingly rare event in view of recent rulings against the agency by the D.C. Circuit on such issues. The rules were those enacted under Section... Read More

Why Aren't There Lawsuits Over Olympus Accounting Scandal?
Posted on 16 Nov 2011 by Kevin M. LaCroix

By Kevin LaCroix For those of you who like me have been watching in disbelief as the accounting scandal engulfing Olympus Corp. has slowly unfolded like a slow-motion train wreck, I am sure you have many questions, but one that occurs to me in particular... Read More

$37 Million Settlement Reached In Tronox Investor Class Action Lawsuit
Posted on 8 Aug 2012 by Timothy Raub

NEW YORK - (Mealey's) Shareholders and defendants in a securities class action lawsuit against a chemical company, certain of its officers and directors and others have agreed to a $37 million settlement of all federal securities law claims, according... Read More

The Week In Securities Litigation: SEC Brings Another Insider Trading Action
Posted on 27 Jul 2012 by Thomas O. Gorman

SEC enforcement brought another insider trading action this week in addition to a case alleging a manipulation, one claiming violations of Regulation M, Rule 105 and one alleging a failure to supervise. The Manhattan U.S. Attorney's Office secured... Read More

The Week In Securities Litigation: Insider Trading, Dodd-Frank Asset Valuations, Old Scandals Dominate
Posted on 20 Jan 2012 by Thomas O. Gorman

Insider trading, implementing Dodd-Frank, asset valuations and old scandals dominated the securities enforcement litigation this week. The U.S. Attorney's Office in Manhattan and the SEC brought more high profile insider trading cases focused on the... Read More

The Week In Securities Litigation: Insider Trading Continues To Be The Focus
Posted on 3 Apr 2013 by Thomas O. Gorman

Insider trading continues to be the focus as the first quarter of the year came to a close. The SEC and the Manhattan U.S. Attorney's Office brought another insider trading case against an SAC Capital official. More unidentified traders were identified... Read More

NERA Releases Mid-Year 2010 Securities Litigation Study
Posted on 30 Jul 2010 by Kevin M. LaCroix

Largely as a result in the decline of the number of new credit crisis related cases, the number of new securities class action lawsuits filings is "on track to decline for a second successive year from their 2008 peak," according to a NERA Economic... Read More

Bank Of America To Set Aside $14 Billion To Settle RMBS Claims
Posted on 29 Jun 2011 by Timothy Raub

CHARLOTTE, N.C. - (Mealey's) Bank of America Corp. will pay $8.5 billion to settle claims regarding "nearly all of the legacy Countrywide-issued first-lien residential mortgage-backed securitization (RMBS) repurchase exposure, representing 530... Read More

California Federal Judge Denies Class Certification In Securities Lawsuit Against China Agritech
Posted on 25 May 2012 by Kevin M. LaCroix

During 2010 and 2011, a number of securities class action lawsuits were filed against U.S.-listed Chinese companies. Plaintiffs' lawyers seemed eager to pursue these cases despite likely procedural and practical challenges such as likely difficulties... Read More

Pharma Sales Reps Not Entitled To Overtime, Supreme Court Rules
Posted on 5 Jul 2012 by Kevin M. LaCroix

On June 18, 2012, in an opinion written by Justice Samuel Alito for a 5-4 majority, the U.S. Supreme Court held that pharmaceutical sales representatives are not entitled to overtime pay. The question before the Court was whether or not the sales reps... Read More

High Court: Investors Properly Pleaded Materiality In Securities Class Action Suit
Posted on 23 Mar 2011 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on March 22 unanimously affirmed that shareholders of a drug maker properly showed that the drug maker violated federal securities law by failing to disclose that one of its products caused adverse... Read More