Litigation

Recent Posts

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

1st Circuit Affirms In Part, Reverses In Part Nomura Subprime Securities Suit Dismissal
Posted on 25 Jan 2011 by Kevin M. LaCroix

As a result of the First Circuit's January 20, 2011 opinion, the plaintiffs in the Nomura Asset Acceptance Corporation mortgage-backed securities lawsuit have managed to revive a slender portion of their case, albeit on a rather precarious basis.... 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

Word Of The Year For Securities Litigation: 'Whistleblower'
Posted on 24 May 2011 by Kevin M. LaCroix

A number of different organizations generate annual publicity for themselves by designating a word (or words) of the year . We are not yet half way through 2011 but I am already prepared to propose my own candidate for this year's word of the year... 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

2nd Circuit: Rating Agencies Can't Be Held Liable In Securities Litigation As '33 Act Underwriters
Posted on 13 May 2011 by Kevin M. LaCroix

In a May 11, 2011 opinion ( here ), a three-judge panel of the Second Circuit affirmed the dismissal of rating agency defendants in litigation filed under the Securities Act of 1933 and involving mortgage-related securities issues by Lehman Brothers and... Read More

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

Puerto Rican Bank Settles Subprime-Related Securities Suit
Posted on 28 Jan 2011 by Kevin M. LaCroix

According to Popular, Inc.'s January 27, 2011 press release ( here ), the Puerto Rican bank holding company has reached an agreement in principle to settle the subprime related securities lawsuit pending against the company, as well as in the related... Read More

Failed Bank Investors' Securities Suit Dismissed
Posted on 19 Jan 2011 by Kevin M. LaCroix

On January 14, 2011, in a ruling that could have implications for other failed bank investors' securities class action lawsuits, Northern District of Georgia Judge Charles A. Pannell, Jr . granted defendants' motions to dismiss the securities... 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

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 Lawsuits Against Chinese Companies Evolving
Posted on 10 Jun 2011 by Kevin M. LaCroix

One of the most distinct securities litigation filing trends during the last twelve months has been the filing of securities class action lawsuits against U.S.-listed companies based or operating in China. With a phenomenon this well-established, it is... 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