Securities

Recent Posts

A Securities Litigation Stalwart Takes a Loss
Posted on 8 Nov 2010 by Kevin M. LaCroix

Although the world of electoral politics may seem distant from the directors' and officers' liability arena, there was one development in Tuesday's elections that potentially could affect the D&O claims environment, and it happened... Read More

Plaintiff’s Counsel: $2.46 Billion Judgment in Fraud Suit Is Record
Posted on 18 Oct 2013 by Michael J. Lello

CHICAGO — (Mealey’s) A federal judge in Illinois on Oct. 17 entered a $2.46 billion judgment — the largest judgment following a securities class action trial, according to the lead plaintiff’s counsel — against Household... Read More

A Circuit Split on Class Certification in Securities Fraud Cases
Posted on 14 Nov 2011 by Thomas O. Gorman

The Ninth Circuit joined the Third and the Seventh in concluding that at the class certification stage plaintiffs in a securities fraud damage action need not prove materiality to utilize the fraud-on-the market. Three other circuits take a contrary... Read More

PwC 2013 Securities Litigation Report Asks Whether There Are Changes Ahead
Posted on 16 Apr 2014 by Kevin M. LaCroix

In its recently released annual analysis of securities class action litigation, PricewaterhouseCoopers observes that while 2013 may not have been a particularly noteworthy year in the securities class action litigation arena, “significant events... Read More

Lead Plaintiff, Goldman Sachs Agree to Settle Claims in Securities Class Action
Posted on 19 Jul 2012 by LexisNexis® Mealey's™ Legal News

NEW YORK - (Mealey's) Lead plaintiffs in a securities class action lawsuit against Goldman Sachs & Co. Inc., certain of its subsidiaries and officers and directors and three ratings agencies have agreed to settle their claims against the defendants... Read More

Supreme Court Vacates Ruling in Securities Suit, Remands for Further Review
Posted on 8 Jun 2015 by Timothy Raub

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today granted a petition for writ of certiorari in a securities class action lawsuit seeking determination of whether, pursuant to Section 11 of the Securities Act of 1933, a plaintiff must... Read More

PwC Report Reviews 2014 Securities Suit Filings and Settlements, Analyzes Trends Likely to Drive Future Suits
Posted on 14 Apr 2015 by Kevin M. LaCroix

On April 10, 2015, PwC released the latest in what is now a series of annual securities class action litigation reports. PwC’s report is generally consistent with the reports previously published by Cornerstone Research and NERA. What makes the... Read More

Inadequate Loan Loss Reserve Disclosure Case Dismissed
Posted on 20 Aug 2010 by Kevin M. LaCroix

In a recent post , I discussed several recent decisions in which securities cases involving failed or troubled banking institutions survived dismissal motions. By contrast, however, in an August 16, 2010 ruling ( here ), Southern District of New York... Read More

Settlement Trends in Securities Class Actions
Posted on 2 Apr 2014 by Doug Esten

The future of securities class actions may hinge on the decision of the Supreme Court in Halliburton Co. V. Erica P. John Fund, Inc., No. 13-317 which is expected to be handed down by the end of the current term on June 30, 2014 ( here ) [ lexis.com subscribers... Read More

Trends In Canadian Securities Class Action
Posted on 19 Feb 2015 by Thomas O. Gorman

Filings for new Canadian securities class actions have been essentially flat over the last three years, according to a recent report by NERA Economic consulting ( here ). That trend is consistent with the one for the filing of U.S. class actions ( here... Read More

Trends In Canadian Securities Class Actions
Posted on 19 Feb 2015 by Doug Esten

Filings for new Canadian securities class actions have been essentially flat over the last three years, according to a recent report by NERA Economic consulting ( here ). That trend is consistent with the one for the filing of U.S. class actions ( here... Read More

Yet Another U.S. Securities Suit Arising From a Latin American Corruption Investigation
Posted on 23 Mar 2015 by Kevin M. LaCroix

In yet another U.S. securities class action lawsuit involving a non-U.S. company and a corruption investigation in the company’s home country, on March 19, 2015 a shareholder of Chemical & Mining Company of Chile, Inc. ( Sociedad Quimica y Minera... Read More

Advisen Releases 3Q10 Corporate and Securities Litigation Report
Posted on 13 Oct 2010 by Kevin M. LaCroix

Overall levels of corporate and securities litigation remained at elevated levels in the most recent quarter even as securities class action filing levels remained flat, according to the third quarter 2010 report of the insurance information firm,... Read More

SLUSA Bars Breach of Duty Claim Tangled with Misrepresentation
Posted on 15 Nov 2011 by Thomas O. Gorman

The Securities Litigation Uniform Standards Act of 1998 or SLUSA was passed to prevent a class action plaintiff from circumventing the stringent pleading requirements of the Private Securities Litigation Reform Act by filing in state court. The Third... Read More

Vivendi Court Narrows Securities Suit Class, Applying Morrison
Posted on 23 Feb 2011 by Kevin M. LaCroix

In the long-awaited rulings on the post-trial motions in the Vivendi securities case , Judge Richard Holwell has entered a February 22, 2011 order materially narrowing the plaintiff class based on the U.S. Supreme Court's holding in Morrison v... Read More