News & Blog

In the News Today - May 26, 2015

May 26, 2015 | The SEC's "whistleblower program" uses "the promise of high bounties to encourage more people to report" alleged fraud. To date, it has reportedly resulted in awards totaling more than $50 million, though attorneys report that it is extremely difficult for "whistleblowers" to actually collect their bounties. The article also reports that some whistleblowers were "short selling" the same companies on whom they "blew the whistles" right up until they reported the alleged fraud to the SEC. (Wall Street Journal)

Louisiana AG Appoints Political Donor Law Firms in Anti-Trust Case

May 26, 2015 | Despite legislation enacted last year that placed limits on payments to private attorneys hired by the state, Louisiana Attorney General Buddy Caldwell is "still relying on private attorneys to do the state's work, including those with whom he has political connections," reports Legal Newsline.

In the News Today - May 26, 2015

May 26, 2015 | Insights

The SEC's "whistleblower program" uses "the promise of high bounties to encourage more people to report" alleged fraud. To date, it has reportedly resulted in awards totaling more than $50 million, though attorneys report that it is extremely difficult for "whistleblowers" to actually collect their bounties. The article also reports that some whistleblowers were "short selling" the same companies on whom they "blew the whistles" right up until they reported the alleged fraud to the SEC. (Wall Street Journal) Read More »

Tags: Asbestos, Texas

Louisiana AG Appoints Political Donor Law Firms in Anti-Trust Case

May 26, 2015 | Insights

Despite legislation enacted last year that placed limits on payments to private attorneys hired by the state, Louisiana Attorney General Buddy Caldwell is "still relying on private attorneys to do the state's work, including those with whom he has political connections," reports Legal Newsline. Read More »

Tags: State Attorneys General, Louisiana

The FACT Act: Keeping the Hands of Trial Lawyers Out of the Asbestos Coffers

May 22, 2015 | Insights

If you've watched cable TV at all in the last few years, you've seen them - the torrent of ads promising asbestos victims their share of the $30 billion dollars set aside in asbestos trusts. What you don't hear about are the plaintiffs' attorneys behind these ads who are bleeding asbestos trusts dry with false claims. Read More »

Tags: Asbestos, Class Actions, Lawsuit Abuse Impact

In the News Today - May 22, 2015

May 22, 2015 | Insights

The U.S. Securities and Exchange Commission is arguing before the Seventh Circuit that the dismissal of a challenge to the agency's "in-house court" should be upheld, "because a pair of U.S. Supreme Court decisions bar district courts from interfering with an administrative law process." (Law360) Read More »

Tags: Alternative Dispute Resolution (ADR)

HSBC Unit Granted New Trial in $2.5B Securities Suit

May 22, 2015 | Insights

HSBC Finance Corp., formerly Household International Inc., won a new trial in a securities suit against its mortgage unit that totaled $2.5 billion. Read More »

In the News Today - May 21, 2015

May 21, 2015 | Insights

Previously sealed evidence that led to landmark ruling and scathing judgment of asbestos plaintiffs' attorneys in the Garlock Sealing Technologies bankruptcy now can be found and accessed on Legal Newsline's website. (Legal Newsline) Read More »

Tags: Third Party Litigation Funding (TPLF), California

5 Major Banks Agree to $5 Billion in Foreign Currency Market Settlements

May 21, 2015 | Insights

Five of the world's largest banks have agreed to pay a combined $5 billion to the Justice Department and other regulatory agencies to settle foreign currency market allegations. Read More »

In the News Today - May 20, 2015

May 20, 2015 | Insights

An anti-fee-shifting measure approved by the Delaware state Senate last week is moving to the lower House. SB 75 would prevent companies from adopting bylaws that force activist shareholders to assume attorneys' fees when they file unsuccessful lawsuits over the decisions of corporate officers. (Delaware Law Weekly) Read More »

Tags: Class Actions, Delaware

Did the IRS Break the Law by Outsourcing an Audit to a High-Priced Law Firm?

Author: Sean Hackbarth | May 20, 2015 | Insights

By outsourcing an audit to a high-priced law firm, the IRS might have broken the law, and the Senate Finance Committee Chairman wants to know why. Read More »

Tags: Trial Bar Influence

In the News Today - May 19, 2015

May 19, 2015 | Insights

The U.S. Supreme Court will weigh in on whether businesses sued under the Telephone Consumer Protection Act (TCPA) can settle with individual plaintiffs in a decision that could curtail booming class action dockets. (Law360) Read More »

Tags: Telephone Consumer Protection Act , Class Actions

In the News Today - May 26, 2015

May 26, 2015 | Insights

The SEC's "whistleblower program" uses "the promise of high bounties to encourage more people to report" alleged fraud. To date, it has reportedly resulted in awards totaling more than $50 million, though attorneys report that it is extremely difficult for "whistleblowers" to actually collect their bounties. The article also reports that some whistleblowers were "short selling" the same companies on whom they "blew the whistles" right up until they reported the alleged fraud to the SEC. (Wall Street Journal) Read More »

Tags: Asbestos, Texas

Louisiana AG Appoints Political Donor Law Firms in Anti-Trust Case

May 26, 2015 | Insights

Despite legislation enacted last year that placed limits on payments to private attorneys hired by the state, Louisiana Attorney General Buddy Caldwell is "still relying on private attorneys to do the state's work, including those with whom he has political connections," reports Legal Newsline. Read More »

Tags: State Attorneys General, Louisiana

The FACT Act: Keeping the Hands of Trial Lawyers Out of the Asbestos Coffers

May 22, 2015 | Insights

If you've watched cable TV at all in the last few years, you've seen them - the torrent of ads promising asbestos victims their share of the $30 billion dollars set aside in asbestos trusts. What you don't hear about are the plaintiffs' attorneys behind these ads who are bleeding asbestos trusts dry with false claims. Read More »

Tags: Asbestos, Class Actions, Lawsuit Abuse Impact

In the News Today - May 22, 2015

May 22, 2015 | Insights

The U.S. Securities and Exchange Commission is arguing before the Seventh Circuit that the dismissal of a challenge to the agency's "in-house court" should be upheld, "because a pair of U.S. Supreme Court decisions bar district courts from interfering with an administrative law process." (Law360) Read More »

Tags: Alternative Dispute Resolution (ADR)

HSBC Unit Granted New Trial in $2.5B Securities Suit

May 22, 2015 | Insights

HSBC Finance Corp., formerly Household International Inc., won a new trial in a securities suit against its mortgage unit that totaled $2.5 billion. Read More »

In the News Today - May 21, 2015

May 21, 2015 | Insights

Previously sealed evidence that led to landmark ruling and scathing judgment of asbestos plaintiffs' attorneys in the Garlock Sealing Technologies bankruptcy now can be found and accessed on Legal Newsline's website. (Legal Newsline) Read More »

Tags: Third Party Litigation Funding (TPLF), California

5 Major Banks Agree to $5 Billion in Foreign Currency Market Settlements

May 21, 2015 | Insights

Five of the world's largest banks have agreed to pay a combined $5 billion to the Justice Department and other regulatory agencies to settle foreign currency market allegations. Read More »

In the News Today - May 20, 2015

May 20, 2015 | Insights

An anti-fee-shifting measure approved by the Delaware state Senate last week is moving to the lower House. SB 75 would prevent companies from adopting bylaws that force activist shareholders to assume attorneys' fees when they file unsuccessful lawsuits over the decisions of corporate officers. (Delaware Law Weekly) Read More »

Tags: Class Actions, Delaware

Did the IRS Break the Law by Outsourcing an Audit to a High-Priced Law Firm?

Author: Sean Hackbarth | May 20, 2015 | Insights

By outsourcing an audit to a high-priced law firm, the IRS might have broken the law, and the Senate Finance Committee Chairman wants to know why. Read More »

Tags: Trial Bar Influence

In the News Today - May 19, 2015

May 19, 2015 | Insights

The U.S. Supreme Court will weigh in on whether businesses sued under the Telephone Consumer Protection Act (TCPA) can settle with individual plaintiffs in a decision that could curtail booming class action dockets. (Law360) Read More »

Tags: Telephone Consumer Protection Act , Class Actions

Senior Brazilian Legal Official Backs Chevron in Contamination Case

May 19, 2015 | Insights

A senior Brazilian legal official has recommended that the nation's courts reject the $9.5 billion Ecuadorian contamination judgment levied against Chevron in February 2011. Read More »

U.S. Chamber Applauds Signing of Ohio Outside Counsel Sunshine Law

May 13, 2015 | Press Release

WASHINGTON, D.C. – Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today applauding Governor John Kasich for signing the outside counsel sunshine bill (SB 38) into law. The law promotes transparency and limits contingency fees when the State of Ohio hires outside private plaintiffs' lawyers. Read More »

Tags: Ohio

U.S. Chamber Comments on Delaware State Senate Vote on "Fee Shifting" Bill

May 12, 2015 | Press Release

WASHINGTON, D.C. - Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today on a vote by the Delaware State Senate to bar companies from adopting "fee shifting" bylaws to guard against abusive merger-and-acquisition lawsuits (SB 75): Read More »

Tags: Delaware

U.S. Chamber Applauds Enactment of Arkansas Law to Rein in Lawsuit Lending Abuses

April 03, 2015 | Press Release

Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform (ILR), issued the following statement today applauding Governor Asa Hutchinson for signing into law a bill to rein in lawsuit lending abuses (SB 882). Read More »

Tags: Arkansas

The ILR Research Review

May 18, 2015 | Research

The ILR Research Review offers valuable insights from our preeminent experts and specialists on key topics addressed in the latest of ILR's research reports. Read More »

Tags: Third Party Litigation Funding (TPLF), Telephone Consumer Protection Act , State Legal Reforms, State Attorneys General, Securities Litigation Reform, Medical Liability, Lawsuit Abuse Impact, False Claims Act (FCA), Class Actions Around the Globe, Class Actions

Enforcement Slush Funds: Funding Federal and State Agencies with Enforcement Proceeds

Author: John H. Beisner, Geoffrey M. Wyatt and Jordan M. Schwartz, Skadden, Arps, Slate, Meagher & Flom LLP Andrew J. Pincus and Sean P. McDonnell, Mayer Brown LLP | March 25, 2015 | Research

This paper addresses the growing practice of federal law enforcement officials and state attorneys general using public money generated from litigation settlements for their own use or for their preferred projects and charities. Read More »

Tags: State Attorneys General

Painting an Unsettling Landscape: Canadian Class Actions 2011-2014

Author: John H. Beisner, Gary A. Rubin, Jordan Schwartz, Skadden, Arps, Slate, Meagher & Flom, LLP, Washington, DC
Gordon McKee, Will Morrison, Blake, Cassels & Graydon, LLP, Toronto, Ontario | March 23, 2015 | Research

This paper expounds upon notable developments in Canadian class actions and provides commentary on how businesses facing putative class actions in Canada can best defend against these lawsuits and participate in potential opportunities for reform. Read More »

Tags: Class Actions Around the Globe

The ILR Research Review

Author: Institute for Legal Reform | December 18, 2014 | Research

The second issue of the ILR Research Review offers valuable insights from our preeminent experts and specialists on key topics addressed in the latest of ILR's research reports. Read More »

Tags: Class Actions Around the Globe, False Claims Act (FCA), Foreign Corrupt Practices Act (FCPA), Foreign Judgment Enforcement, Lawsuit Abuse Impact, State Attorneys General, State Legal Reforms

Lawsuit Ecosystem II: New Trends, Targets and Players

Author: Victor E. Schwartz & Cary Silverman, Shook, Hardy & Bacon LLP | December 04, 2014 | Research

This report, authored by a distinguished group of practitioners, explores the evolving lawsuit "ecosystem." It considers how plaintiffs' lawyers generate litigation and significant developments that will spur more lawsuits or rein in excessive liability. Read More »

Tags: State Legal Reforms, State Attorneys General, Securities Litigation Reform, Lawsuit Abuse Impact, False Claims Act (FCA), Class Actions, Asbestos

Laboratories of Tort Law: A Three-Year Review of Key State Supreme Court Decisions

Author: Victor E. Schwartz & Cary Silverman, Shook, Hardy & Bacon LLP | December 04, 2014 | Research

This report highlights significant tort law decisions over the past three years that are examples of particularly sound or unsound rulings. Each analysis examines the tort law principles involved, whether the court followed or deviated from these principles, and the court's reasoning in reaching its decision. Read More »

Tags: State Tort Reform, State Legal Reforms, Medical Liability, Lawsuit Abuse Impact, Class Actions, Asbestos

Unprincipled Prosecution: Abuse of Power and Profiteering in the New 'Litigation Swarm'

Author: Andrew J. Pincus, Mayer Brown LLP | October 21, 2014 | Research

This paper addresses the swarm litigation model of duplicative investigations and legal actions by government enforcement officials and the plaintiffs' bar. Corporate defendants faced with gargantuan monetary claims and the prospects of multi-year, multi-front litigation have little choice but settlement, regardless of the merits. Read More »

Tags: State Legal Reforms, State Attorneys General

The FIRREA Revival: Dredging Up Solutions to the Financial Crisis

Author: Michael Y. Scudder and Andrew M. Good, Skadden, Arps, Slate, Meagher & Flom, LLP | October 21, 2014 | Research

This paper explores the use of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) by the Department of Justice to investigate and prosecute cases arising out of the recent financial crisis, and highlights trends to watch for as DOJ expands its use of FIRREA. Read More »

Tags: False Claims Act (FCA)

Perils and Pitfalls: Social Media Law and the Workplace

Author: Sara A. Begley, Joel S. Barras, Divonne Smoyer, and Amanda D. Haverstick, Reed Smith LLP | October 21, 2014 | Research

This paper discusses why and how the increase in workplace social media use presents U.S. employers with considerable risks. The uncertain legal environment created by the inconsistency among state privacy statutes and recent ad hoc social media rulings by the NLRB make social media a high risk area for U.S. businesses. Read More »

Tags: State Legal Reforms

Federal Cases from Foreign Places: How the Supreme Court Has Limited Foreign Disputes From Flooding U.S. Courts

Author: George T. Conway III, Wachtell, Lipton, Rosen & Katz, John Bellinger, III and R. Reeves Anderson, Arnold & Porter LLP, James L. Stengel, Orrick, Herrington & Sutcliffe LLP | October 21, 2014 | Research

This collection of essays examines the shifting legal landscape of federal claims by foreign plaintiffs in the federal courts and focuses on the most common statutes invoked by foreign plaintiffs, as well as the threshold issues of personal jurisdiction and pleading standards that govern such suits. Read More »

Tags: Foreign Judgment Enforcement, Foreign Corrupt Practices Act (FCPA)

The Enforcement Prism: Principled Prosecution or Profiteering?

October 24, 2014 | Video

This panel explores the mosaic of serial enforcement by federal and state regulatory agencies, state attorneys general, and the plaintiffs' bar; the growth in civil penalties; regulation through litigation; and how to achieve the appropriate enforcement balance. Watch »

The Two-Way Mirror: Political Landscape and 2014 Elections Outlook

October 24, 2014 | Video

Insights on the current political landscape, mood of the electorate, and outlook on the 2014 elections. Watch »

Liability Refraction: Digital Technology and Privacy

October 24, 2014 | Video

This panel will explore digital technology and privacy issues that give rise to liability, and will include a discussion of social media and employer liability; the Telephone Consumer Protection Act; and the recent EU Privacy Initiative and "The Right To Be Forgotten." Watch »

As Seen Through the Crystal Ball: The Future of Securities Class Actions

October 24, 2014 | Video

This panel addresses securities litigation post-Halliburton, offer proposed legislative reforms, discuss fee-shifting in Delaware and elsewhere, and consider the real-world effects of securities litigation on corporate governance. Watch »

Reflecting Upon The Restatements: A Discussion with the American Law Institute

October 24, 2014 | Video

This presentation reflects upon the American Law Institute and the Restatements, specifically what they are and how they are developed, which Restatements are currently under consideration by ALI, and how the business community can best engage in the process as those Restatements are formulated. Watch »

Welcoming Remarks

October 24, 2014 | Video

Watch »

A Cracked Looking Glass: Attorney Fraud and the Lack of Accountability

October 24, 2014 | Video

This panel explores attorney fraud in the Chevron case, manipulation in asbestos cases, and ramifications of a lack of accountability within the profession. Watch »

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