There was a time when it was relatively rare for the Supreme
Court to take up securities cases. Until recently, the Court basically went
several years between cases filed under the securities laws. Those days are
clearly over, as the Court has granted cert petitions in several securities
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'...
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, Advisen. The October 2010 report can be found
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 right here in The D&O Diary's home
Though securities class action lawsuit filings were below
historical averages, overall corporate and securities litigation reached
"record" levels during 2010, according to a report from the insurance
information firm, Advisen. The report, which was released on January 19, 2011
and is entitled...
As a result of a spike in second half filings, the number
of new securities class action lawsuits increased slightly in 2010 compared to
the year before, although the 2010 filing levels remained below historical
averages, according to the annual study released jointly by Cornerstone
In a settlement that has a number of interesting
features, Satyam Computer Services, an Indian technology outsourcing company,
has agreed to pay $125 million to settle the consolidated securities class
action litigation pending against the company in Southern District of New York.
The only settling...
WASHINGTON, D.C. - (Mealey's) A shareholder plaintiff and
a pharmaceutical company debated in front of the U.S. Supreme Court on Nov. 5 whether
a securities lawsuit may proceed as a class action even if the plaintiff is
unable to plead materiality ( Amgen Inc., Kevin W. Sharer, Richard D. Nanula...
In a much anticipated ruling in the Amgen securities
class action litigation, the U.S. Supreme Court, in a 6-3 majority opinion
written by Justice Ginsburg, held that a securities plaintiff is not required
to prove that the allegedly misleading statements are material as a
prerequisite to class certification...
In two decisions last week - one in the Sixth Circuit and
one in the First Circuit - federal appellate courts set aside lower court
dismissals of securities class action lawsuits. Although the two cases are
different and the two appellate opinions address different legal issues, the
In an interesting July 31, 2014 opinion ( here ), the Second Circuit vacated the dismissal of the securities class action lawsuit that had been filed against JinkoSolar Holdings Co. Ltd, and certain of its directors and officers, as well as against its offering underwriters [an enhanced version of this...
On July 30, 2014, when a plaintiff shareholder filed a securities class action lawsuit against the company and certain of its directors and officers, Galectin Therapeutics became the latest company to be hit with a securities suit following press reports that the company had used a stock promotion firm...
Life sciences companies are “an increasingly popular target” of securities class action lawsuits, according to the annual securities litigation survey from the David A. Kotler of the Dechert law firm. According to the March 16, 2015 report, entitled “Dechert Survery of Securities Fraud...
In its June 2014 opinion in the Halliburton case, the U.S. Supreme Court held that securities lawsuit defendants may introduce evidence at the class certification stage to try to show that the alleged misrepresentation on which the plaintiffs rely did not impact the defendant company’s share price...
Historically, non-U.S. companies listed on U.S. exchanges were sued in securities class action lawsuits less frequently than were listed U.S. companies. For several years now, according to NERA , non-U.S. firms have represented about 16% of all companies listed on the U.S. exchanges, but according to...