The Supreme Court is scheduled to weigh whether to grant certiorari in a suit challenging the “fraud on the market” theory, one of the bedrocks of securities class action litigation. American Lawyer
Twenty-eight new lawsuits have been filed against the oil and gas industry in Louisiana. An op-ed in the Baton Rouge Advocate says the suits follow a familiar pattern: “extort as much money from the oil and gas industry as possible, thus lining the pockets of this small group of trial lawyers.”
A Florida couple won a $1.2 million jury verdict in a suit alleging that tainted Chinese drywall ruined their house. The plaintiffs are among a small group of homeowners who opted out of an $800 million federal settlement. Daily Business Review
A new report says global investment banks could be facing more than $100 billion in civil liability relating to allegations of foreign-exchange market rigging, interest rate manipulation, and soured mortgages. WSJ Moneybeat
“The debate about the future of lawyer-linked litigation funding companies is taking on elements of the surreal,” Chris Merritt writes in The Australian ($).