Securities Litigation News
February 11, 2013
American Lawyer | Subscription Required | February 11, 2013
Before an overflow audience at a Friday hearing, a panel of the U.S. Court of Appeals for the Second Circuit considered whether U.S. district judge Jed Rakoff acted properly when he condemned a securities fraud settlement that the Securities and Exchange Commission reached with Citigroup Inc. in late 2011.
Atlanta Journal-Constitution | February 11, 2013
After losing $11 billion during the near meltdown on Wall Street in 2007-2009, you might expect that Georgia’s two largest public pension plans would have filed at least one of the hundreds of shareholder lawsuits attempting to recover losses from corporate wrongdoers. You’d be wrong.
February 8, 2013
National Law Journal | Subscription Required | February 8, 2013
A federal judge has signed off on a large portion of a class action brought on behalf of certain investors in BP PLC shares who sued the company and its senior executives for alleged securities fraud related to the Deepwater Horizon oil spill.
ThomsonReuters | February 8, 2013
A novel proposal to subject class action and derivative lawsuit settlements to a "market test" has been rejected by the same Delaware judge who initially floated the idea.
February 7, 2013
American Lawyer | Subscription Required | February 7, 2013
Plaintiffs lawyers say they've been getting mixed messages from the Delaware Court of Chancery about how thoroughly they should investigate shareholder derivative actions before filing them. If they rush to sue, in hopes of winning the role of lead counsel, judges sometimes hold it against them. But if they take their time and demand to see a company's books and records before filing suit, judges may not save them a seat at the table.
February 6, 2013
American Lawyer | Subscription Required | February 6, 2013
Bank of America has a long, long way to go to escape the titanic litigation headache that it inherited with the acquisition of mortgage giant Countrywide Financial. But one case, at least, is now history.
Wall Street Journal | Subscription Required | February 6, 2013
Nasdaq OMX Group's missteps during last year's debut of Facebook Inc. shares cost Wall Street an estimated $500 million. In the end, U.S. securities regulators may end up fining the exchange group 1% of that.
January 31, 2013
National Law Journal | Subscription Required | January 31, 2013
A federal appellate court has dismissed a lawsuit filed by two Southern California attorneys against the U.S. government for failing, through the U.S. Securities and Exchange Commission, to stop Ponzi scheme operator Bernard Madoff from bilking investors out of more than $60 billion.
January 28, 2013
Wall Street Journal | Subscription Required | January 28, 2013
People who lost money because funds they invested in turned around and sank money into Bernard L. Madoff's massive Ponzi scheme should be entitled to repayment for their losses —just like direct investors in the fraud—a lawyer for some of those secondary investors told an appeals court Friday.
January 25, 2013
West Virginia Record | January 25, 2013
Some personal injury attorneys chase ambulances, looking for accident victims they can persuade to file lawsuits against parties alleged to be responsible for their mishaps. It’s not pretty, but that’s how these people operate.
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