Litigation

Recent Posts

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

$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

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

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

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

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

Maxim Announces $173 Million Settlement In Investor Backdating Class Action
Posted on 6 May 2010 by Dylan McGuire

SAN JOSE, Calif. — (Mealey’s) Technology company Maxim Integrated Products Inc. announced May 5 that it has reached an agreement in principle to settle an investor backdating class action in a California federal court for $173 million ( In... Read More

E*TRADE Announces $79 Million Settlement Of Subprime Claims In Securities Lawsuit
Posted on 23 Dec 2011 by Timothy Raub

NEW YORK - (Mealey's) E*TRADE Financial Corp. has agreed to a $79 million settlement with investors to settle claims that it misrepresented the risk associated with its investment in subprime mortgage-backed securities in violation of federal securities... 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

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

Advisen Releases Year End 2010 Corporate and Securities Litigation Study
Posted on 20 Jan 2011 by Kevin M. LaCroix

Though securities class action lawsuit filings were below historical averages, overall corporate and securities litigation reached "record" levels during 2010, according to a report from the insurance information firm, Advisen. The report, which... 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

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