Class Action News
April 12, 2013
Australian Financial Review | Subscription Required | April 12, 2013
A US-based business lobby group is pushing for strict new regulations of the Australian third-party litigation funding industry in an effort to protect local and foreign companies from lawsuits.
April 11, 2013
The Australian | April 11, 2013
One of the leaders of the US business community has warned that Australia's decision to commercialise civil litigation means this country is well on the way to adopting America's worst excesses. Lisa Rickard, executive vice-president of the US Chamber of Commerce, believes the main problem is the federal government's decision not to regulate the financing of class actions by outside companies.
American Lawyer | Subscription Required | April 11, 2013
For the second time in less than six months, Deloitte's Chinese affiliate, Deloitte Touche Tohmatsu CPA Ltd, has defeated a proposed securities class action accusing the accounting firm of helping to cover up a massive accounting scandal that toppled U.S.-listed Chinese software company Longtop Financial Technologies.
New York Law Journal | April 11, 2013
A federal judge in Manhattan yesterday approved a $115 million settlement reached by former American International Group Inc. CEO Maurice "Hank" Greenberg and other former AIG executives to resolve a shareholder class action.
April 10, 2013
Wall Street Journal | Subscription Required | April 10, 2013
In a year of mixed signals for securities litigation, one thing was for sure in 2012: securities-related class action suits are going after those at the top. Chief executives were explicitly named in 94% of federal securities class-action lawsuits in 2012, up from 86% of suits the year prior, according to a report released today by PricewaterhouseCoopers LLP.
Legal Intelligencer | April 10, 2013
In the first courtroom appearance in the multidistrict litigation brought by former football players against the National Football League over their concussive injuries, the judge heard arguments on a threshold issue that will determine whether or not the case will head toward trial.
April 8, 2013
Wall Street Journal | Subscription Required | April 8, 2013
A New York judge has approved Bank of America's $2.43 billion settlement of a class action lawsuit brought by shareholders over the company's acquisition of former competitor Merrill Lynch.
Washington Post | April 8, 2013
With perhaps billions of dollars at stake, a hearing Tuesday over concussion litigation filed against the NFL promises to be a brawl between legal heavyweights.
April 3, 2013
ThomsonReuters | April 3, 2013
Last week, after the U.S. Supreme Court issued its deeply divided 5-to-4 ruling in Comcast v. Behrend, the antitrust class action bar breathed a sigh of relief. Lawyers had been worried the court would rule broadly that in order to be certified, classes must show that they are "susceptible to awarding damages on a classwide basis," which was the question the Supreme Court had asked Comcast counsel to address.
Tags: Class Action
Louisville Courier-Journal | April 3, 2013
With the March 21 disbarment of Cincinnati class-action lawyer Stan Chesley, Kentucky’s long-running fen-phen scandal is slowly winding to a close. The only remaining major issues are the fate of a $42 million judgment awarded to the former clients of disbarred lawyers Shirley Cunningham Jr., William Gallion and Melbourne Mills Jr. — and whether Chesley should have to surrender $7.5 million that he was overpaid when he negotiated a $200 million settlement with the makers of the diet drug, which was withdrawn from the market after it was shown to cause heart damage.
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From The Blog
The Oklahoma House of Representatives passed a bill (SB 1016) Wednesday to curb lawsuit lending abuses that will now...
Harold Kim, executive vice president of the U.S. Chamber Institute for Legal Reform (ILR), made the following statement...
The U.S. Chamber Institute for Legal Reform (ILR) today released a study by NERA Economic Consulting showing that the U...