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 Judge Robert
Patterson, Jr. granted the defendants'...
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 to court documents made available
Shareholder claimants seeking to pursue a misrepresentation claim under the Ontario Securities Act must obtain leave of court to proceed based on a statutory requirement that the plaintiff must show a “reasonable possibility that the action will be resolved at trial in favor of the plaintiff.”...