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Plaintiffs' Lawyers Pursue Non-U.S. Securities Litigation Alternatives After Morrison

One of the questions posed in the wake of the U.S. Supreme Court's landmark decision in Morrison v. National Australia Bank is whether the Court's holding might encourage securities claimants foreclosed by Morrison from U.S. court to attempt to pursue their claims in their home countries or in...

Ontario Court Certifies Another Plaintiff Class In A Secondary Market Misrepresentation Claim

For the second time, a court has given investors leave to proceed and also certified a plaintiff class in a secondary market misrepresentations claim under the revised Ontario Securities Act. In an order dated March 1, 2011, Ontario Superior Court Justice Wolfram Tausendfreund granted leave to investors...

Study: 2010 Median Settlement Amount Of Securities Class Actions Hit Record

Though the average dollar value of securities class action settlements approved in 2010 declined slightly compared to 2009, the median settlement amount reached record levels, according to Cornerstone Research's annual 2010 Securities Class Action Settlement Study. Cornerstone's March 10, 2010...

Securities Class Action Lawsuits Against Chinese Companies Evolving

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 only natural that the trend should begin to evolve...

Will Supreme Court's Wal-Mart Ruling Affect Securities Class Action?

In the wake of the U.S. Supreme Court's landmark June 20, 2011 decision in Wal-Mart Stores v. Dukes , numerous commentators have asserted that the case could have a significant impact on future class actions. For example, one law firm's memo about the case stated that the decision "should...

Former Colonial Bank Executives Agree To Settle Class Action Lawsuit For $10.5 Million

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 connection with the bank's 2009 collapse, for...

NERA Consulting Report Says Canadian Securities Class Action Filings Hit Record Levels Last Year

Securities class action lawsuit filings in Canada hit record levels in 2011 according to a new report from NERA Economic Consulting. The January 31, 2012 report, entitled "Trends in Canadian Securities Class Actions: 2011 Update" ( here ) concludes that the persistent growth in Canadian securities...

Securities Class Action Filings For First Quarter Ran Above Historical Averages

On an annualized basis, the pace of securities class action lawsuit filings for the first quarter of 2012 ran above historical averages, although the pace of filings declined compared to the prior month in the quarter's second and third months. Merger-related cases, which were such a significant...

Securities Class Action Lawsuit Filed By H-P Shareholders Over Autonomy Revelations

When H-P announced on November 20, 2012 that it was taking an $8.8 billion charge after it discovered "accounting improprieties, misrepresentations and disclosure failures" at its Autonomy unit (which H-P acquired in October 2011 for $11.1 billion), there was a great deal of speculation that...