Litigation

Recent Posts

SciClone Pharmaceuticals Settles FCPA Follow-On Derivative Lawsuits
Posted on 18 Oct 2011 by Kevin M. LaCroix

In a settlement that involves a company with significant Chinese operations -- and that also may represent something of a template for the settlement of FCPA enforcement follow-on civil lawsuits -- SciClone Pharmaceuticals and the individual defendant... Read More

Cadwalader Clients & Friends Memo: N.Y. Federal Court Refuses To Dismiss Chinese Company From U.S. Price-Fixing Case
Posted on 19 Sep 2012 by Cadwalader, Wickersham & Taft LLP

In a decision filed on August 7, 2012, in a federal court in New York, a judge ruled that a Chinese company could not evade jurisdiction of the U.S. courts and must face the prospect of a trial for colluding to fix the price of vitamin C exported from... 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

Settlements Of Class Action Securities Lawsuits Involving U.S.-Listed Chinese Companies Are Relatively Modest
Posted on 9 Jul 2012 by Kevin M. LaCroix

Beginning in 2010 and accelerating in 2011, plaintiffs' lawyers filed a wave of securities class action lawsuits against U.S.-listed Chinese companies, many of which obtained their U.S. listings via reverse merger. These cases have been making their... 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

The Week In Securities Litigation: SEC Targets Chinese Affiliates of Major Audit Firms, Market Professionals
Posted on 7 Dec 2012 by Thomas O. Gorman

Chinese affiliates of major audit firms and market professionals were the focus of securities enforcement litigation this week. Five PRC based affiliates of major international accounting firms were named as Respondents in an administrative proceeding... 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

Kevin LaCroix: Accounting Fraud Lawsuits Against Chinese Companies Surge
Posted on 12 Apr 2011 by Kevin M. LaCroix

With four more securities suits involving Chinese or China-linked companies this past Friday, the phenomenon of securities class action lawsuits against these firms has emerged as one of the most distinct securities litigation trends so far this year... Read More

Ernst & Young Settles Sino-Forest Securities Litigation Filed In Ontario For $117 Million
Posted on 10 Dec 2012 by Kevin M. LaCroix

In what is by far the largest settlement in the current wave of securities litigation involving Chinese companies, Ernst &Young, which served as the outside auditor for Sino-Forest, has agreed to pay C$117 million to settle the securities suit that... Read More

Cornerstone: Lawsuits Involving U.S.-Listed Chinese Firms Continue To Be Filed In Second Half Of 2011
Posted on 30 Aug 2011 by Kevin M. LaCroix

In its comments about the elevated level of filings against U.S.-listed Chinese companies during the first months of 2011 in its mid-year report on securities class action litigation ( here ), Cornerstone Research noted both that the total number of such... Read More