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

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

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

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

Former Colonial Bank Executives Agree To Settle Class Action Lawsuit For $10.5 Million
Posted on 17 Aug 2011 by Kevin M. LaCroix

In a settlement that apparently will be funded entirely by D&O insurance, the plaintiffs and 23 former executives of the failed Colonial Bank of Montgomery, Alabama have agreed to settle the class action securities lawsuit that investors filed in... 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 Filings For First Quarter Ran Above Historical Averages
Posted on 6 Apr 2012 by Kevin M. LaCroix

On an annualized basis, the pace of securities class action lawsuit filings for the first quarter of 2012 ran above historical averages, although the pace of filings declined compared to the prior month in the quarter's second and third months. Merger... Read More

Securities Class Action Lawsuit Filings Through 3rd Quarter Remain On Pace For Above Average Year
Posted on 21 Oct 2011 by Kevin M. LaCroix

Securities class action lawsuit filings continued to accumulate during the third quarter of 2011, and the filing levels remain on pace for an above average year of securities class action litigation. As was the case in earlier quarters this year, the... Read More

Changing Securities Litigation Pattern Result Of Changes In Plaintiff's Securities Litigation Bar
Posted on 27 Jan 2012 by Kevin M. LaCroix

The changing mix of corporate and securities litigation is a recent phenomenon on which I have frequently commented on this blog . While identifying the fact of the change is relatively straightforward, explaining it is more challenging. According to... Read More

Renewed Dismissal Motions In Bank of America/Merrill Lynch Litigation Denied In Part, Granted In Part
Posted on 3 Aug 2011 by Kevin M. LaCroix

The facts and circumstances surrounding Bank of America's credit crisis-induced acquisition of Merrill Lynch remain among the highest profile and most controversial events during the global financial crisis. In a July 29, 2011 opinion ( here ), Southern... 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

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