Mealeys

Recent Posts

Pfizer Shareholder Class OK'd By MDL Judge For Disclosures About Celebrex, Bextra
Posted on 3 Apr 2012 by Mealeys

NEW YORK - A New York federal judge overseeing the Pfizer Inc. securities multidistrict litigation on March 29 certified a class of shareholders who allege that their stock value was affected by misstatements and omissions concerning the safety of the... Read More

Investor Failed To Plead Any Material Misrepresentations, Federal Judge Rules
Posted on 6 Aug 2013 by Mealeys

NEW YORK - In an opinion made available on Aug. 3, a federal judge in New York dismissed a shareholder class action lawsuit stemming from the financial collapse of financial giant Lehman Brothers, ruling that an investor failed to plead any material misrepresentations... Read More

Judge: Investor Failed To Properly Make Demand On Company's Board Of Directors
Posted on 28 Sep 2012 by Mealeys

DENVER - An investor failed to properly make demand on a company's board of directors before bringing a shareholder derivative lawsuit over the company's issuance of executive compensation packages, a federal judge in Colorado ruled Sept. 26 ... Read More

Judge: Trustee May Use Bankruptcy Code To Avoid Paying Certain Claims
Posted on 15 Feb 2013 by Mealeys

NEW YORK - A federal judge in New York on Feb. 12 ruled that the liquidation trustee for Bernard L. Madoff Investment Securities LLC (BLMIS) may use a portion of the Bankruptcy Code to avoid making customer payments to a number of defendants that are... Read More

Directors And Officers Say Shareholders Have Not Shown Any Bad Faith Behavior
Posted on 17 Jul 2012 by Mealeys

NEW YORK - Directors and officers of a company on July 16 moved to dismiss a shareholder case against them in a New York federal court, arguing that the shareholders failed to show any particularized facts that individual defendants may be liable for... Read More

Judge: Investors Properly Pleaded Misrepresentation Claims In Securities Suit
Posted on 30 Sep 2013 by Mealeys

LAS VEGAS - Dismissal of a securities class action lawsuit against MGM Resorts International (MGM) and others is not proper, a federal judge in Nevada ruled Sept. 26, because lead plaintiffs in the action have pleaded an actionable misstatement, scienter... Read More

Delaware Vice Chancellor Awards Attorney Fees, Costs In Securities Suit
Posted on 3 Oct 2012 by Mealeys

WILMINGTON, Del. - A Delaware Chancery Court vice chancellor on Oct. 1 awarded a shareholder in a securities lawsuit regarding a merger deal between two perfume companies more than $266,000 in attorney fees and costs, ruling that the shareholder is entitled... Read More

Shareholder: Directors And Officers Of Education Company Agree To Settle Case
Posted on 18 Jul 2012 by Mealeys

LOS ANGELES - A shareholder asked a federal court in California on July 16 to preliminarily approve a settlement with a company's directors and officers in which new corporate governance provisions are created to assure that the company will accurately... Read More

Panel Grants Stay In SEC, Citigroup $285M Settlement Dispute
Posted on 16 Mar 2012 by Mealeys

NEW YORK - The Securities and Exchange Commission and Citigroup Global Markets Inc. face a substantial likelihood of success in overturning a federal judge's denial of their $285 million settlement agreement, a Second Circuit U.S. Court of Appeals... Read More

Mealey's Securities Litigation Bulletin: $410 Million Settlement Reached with the Controller of Four Madoff Feeder Funds
Posted on 26 Jun 2012 by Mealeys

NEW YORK - In what he called "one of the largest agreements of its kind," New York Attorney General Eric. T. Schneiderman yesterday announced that he had reached a $410 million settlement with J. Ezra Merkin for his role in the Bernard L. Madoff... Read More

Shareholder Says Directors And Officers Were Unjustly Enriched
Posted on 22 Oct 2013 by Mealeys

FORT LAUDERDALE, Fla. - A shareholder told a federal court in Florida on Oct. 17 that certain directors and officers and others were unjustly enriched in a transaction for a controlling percentage of a company (Frederick Siegmund v. Xuelian Bian, et al... Read More

Lead Plaintiffs Properly Pleaded Scienter, Loss Causation, Judge Rules
Posted on 26 Apr 2012 by Mealeys

NEW YORK - Lead plaintiffs in a class action lawsuit against a reinsurance company, certain of its former officers and directors and others have properly pleaded scienter and loss causation against a majority of the defendants, a federal judge in New... Read More

Judge Will Not Order Director And Officer To Return Ponzi Scheme Proceeds
Posted on 25 May 2012 by Mealeys

SACRAMENTO, Calif. - A federal judge in California on May 22 ordered a company to return $100,000 it received from another company's Ponzi scheme proceeds, but the judge would not order disgorgement of the funds from the personal assets of the receiving... Read More

Delaware Chancellor Approves Settlement In Shareholder Suit Over Sale Of Company
Posted on 13 Apr 2012 by Mealeys

WILMINGTON, Del. - Finding that a settlement between shareholders and a company and certain of its directors and officers regarding the sale of the company was fair, a Delaware Chancery Court chancellor approved the settlement on April 12 (In RE CKX,... Read More

Judge Trims Federal Securities Claims In BP Oil Spill Shareholder MDL
Posted on 8 Feb 2013 by Mealeys

HOUSTON - A federal judge in Texas on Feb. 6 granted in part and denied in part a motion to dismiss filed by BP PLC and certain of its subsidiaries and former executive officers, ruling that although shareholders have failed to plead scienter against... Read More