Litigation

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AIG Securities Class Settles For $725 Million
Posted on 20 Jul 2010 by Dylan McGuire

NEW YORK - (Mealey's) American International Group Inc. (AIG) has agreed to pay $725 million to resolve a class action brought against it in a New York federal court by investors who allege that the company engaged in bid-rigging and accounting improprieties... Read More

Jury: BankAtlantic's Misrepresentations Violated Federal Securities Law
Posted on 19 Nov 2010 by Timothy Raub

FORT LAUDERDALE, Fla. - (Mealey's) A federal jury in Florida handed down a rare verdict in a securities class action lawsuit on Nov. 18, finding subprime lender BankAtlantic Bancorp. Inc. and certain of its executive officers guilty of federal securities... Read More

DLA Piper: Expect Greater SEC Scrutiny Of Activist Hedge Funds That Share Information Or Collaborate In Advance Of Their Trades
Posted on 21 Apr 2014 by DLA Piper

By Perrie Michael Weiner and Patrick Hunnius A recent Wall Street Journal article – “Activist Investors Often Leak Their Plans to a Favored Few” – focused attention on “activist” investors and stock analysts who... Read More

Erica P. John Fund, Inc v. Halliburton Co. Securities Class Action: Loss Causation And Class Certification
Posted on 25 Jan 2011 by Thomas O. Gorman

In Halliburton , the Supreme Court is deciding "Whether, in a private action under Section 10(b) of the Securities Exchange Act of 1934 . . . a plaintiff who invokes the fraud-on-the market presumption of reliance must prove loss causation in order... Read More

U.S. Supreme Court Rules Section 16(b) Claim Tolling Not Proper Under Whittaker Rule
Posted on 26 Mar 2012 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) The Ninth Circuit U.S. Court of Appeals erred in ruling that the two-year statute of limitations claims brought pursuant to Section 16(b) of the Securities Exchange Act of 1934 are tolled until a Section 16(b) statement... Read More

High Court: United States Lacks Subject Matter Jurisdiction In Securities Class Action
Posted on 28 Jun 2010 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) Ruling that Section 10(b) of the Securities Exchange Act of 1934 does not provide a cause of action "to foreign plaintiffs suing foreign and American defendants for misconduct in connection with securities traded... Read More

J.P. Morgan Securities Agrees To $228 Million Settlement In Muni Bond Reinvestment Action
Posted on 8 Jul 2011 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) J.P. Morgan Securities LLC (JPMS) has agreed to pay $228 million to settle charges brought by the Securities and Exchange Commission and other state and federal authorities in connection with its fraudulent rigging of... Read More

Drug Maker To Pay $4.5 Million To Settle Claims In Securities Class Action Lawsuit
Posted on 30 Jul 2012 by Timothy Raub

PHOENIX - (Mealey's) Matrixx Initiatives Inc. will pay $4.5 million to settle claims with shareholders that it violated federal securities law by concealing side effects of a cold medication it developed and marketed, according to documents filed... Read More