Litigation

Recent Posts

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

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

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

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

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

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

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

NERA Consulting Report Says Canadian Securities Class Action Filings Hit Record Levels Last Year
Posted on 3 Feb 2012 by Kevin M. LaCroix

Securities class action lawsuit filings in Canada hit record levels in 2011 according to a new report from NERA Economic Consulting. The January 31, 2012 report, entitled "Trends in Canadian Securities Class Actions: 2011 Update" ( here ) concludes... 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

FDIC Files Latest Lawsuit In Its Role As Receiver Of Failed Bank
Posted on 24 Jan 2012 by Kevin M. LaCroix

In the FDIC's latest lawsuit filed in its role as receiver of a failed bank, the FDIC not only named as defendants nineteen former directors and officers of the failed bank, but also included as defendants seventeen of their spouses and the failed... Read More