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District Court Cites Recent “Evolution” of Rule 23 Standards to Deny Class Certification Motion in Securities Action Based Upon...

In re Kosmos Energy Ltd. Securities Litigation, No. 3:12-CV-373-B, 2014 U.S. Dist. LEXIS 36365 (N.D. Tex. Mar. 19, 2014), the United States District Court for the Northern District of Texas (Boyle, J.) denied lead plaintiff’s...more

4/2/2014 - Class Action Class Certification Federal Rules of Civil Procedure Misleading Statements Registration Rule 23

The New Normal: The Need for Damages Proof To Certify Consumer Classes Post-Comcast

In consumer class actions, the damages measure tends to remain undisclosed or ill-defined when plaintiffs move for class certification. Revealing as little as possible about damages allows plaintiffs to more flexibly adapt to...more

3/31/2014 - Burden of Proof Class Action Comcast v. Behrend Evidence SCOTUS

Ninth Circuit Concludes That Common Issues Do Not Predominate Where Retailer’s In-Store Signs and Oral Sales Statements Place Each...

In Berger v. Home Depot USA, Inc., Case No. 11-55592, 2014 U.S. App. LEXIS 2059 (9th Cir. Feb. 3, 2014), the Ninth Circuit Court of Appeals affirmed the denial of class certification based largely on evidence that the...more

2/17/2014 - Class Action Class Certification Point of Sale Terminals Putative Class Actions Retailers

The Contract Is King: The U.S. Supreme Court’s Two Recent FAA Decisions

The U.S. Supreme Court addressed contract terms bearing on the availability of class arbitration in two opinions this term. The first, Oxford Health Plans LLC v. Sutter, confirms a district court’s limited power under the...more

10/10/2013 - American Express American Express v Italian Colors Restaurant Arbitration Arbitration Agreements Class Action Class Action Arbitration Waivers Contract Interpretation Federal Arbitration Act Oxford Health v Sutter SCOTUS

Fifth Circuit Holds That Securities Fraud Defendants May Not Rebut the Fraud-on-the-Market Presumption at the Class Certification...

In Erica P. John Fund, Inc. v. Halliburton Co., No. 12-10544, 2013 WL 1809760 (5th Cir. Apr. 30, 2013), the United States Court of Appeals for the Fifth Circuit held that a defendant in a securities fraud class action is not...more

6/25/2013 - Class Certification Fraud-on-the-Market Halliburton Material Misstatements Materiality Rule 23

Second Circuit Reverses Class Certification Order, Holding That a Clearing Broker's Alleged Knowledge of Fraud Against...

In Levitt v. J.P. Morgan Securities, Inc., No. 10-4596, 2013 WL 1007678 (2d Cir. Mar. 15, 2013), the United States Court of Appeals for the Second Circuit reversed a district court order certifying a class of shareholder...more

3/28/2013 - Bear Sterns Brokers Class Action Class Certification Disclosure Requirements Fiduciary Duty Fraud JPMorgan Chase Shareholders

United States Supreme Court Holds that Class Action Securities Fraud Plaintiffs Need Not Prove the Materiality of the Alleged...

In Amgen Inc. v. Connecticut Retirement Plans & Trust Funds, No. 11-1085, ___ WL ______ (U.S. Feb. 27, 2013), the United States Supreme Court affirmed the decision of the United States Court of Appeals for the Ninth Circuit...more

3/8/2013 - Amgen Inc. v Connecticut Retirement Plans Class Action Class Certification Fraud-on-the-Market SCOTUS SEC Securities Fraud

Delaware Chancery Court Rejects Stockholder's Section 220 Books and Records Demand Based Upon Failure to Demonstrate "Credible...

In Louisiana Municipal Police Employees’ Retirement System v. Lennar Corp., C.A. No. 7314-VCG, 2012 WL 4760881 (Del. Ch. Oct. 5, 2012), the Delaware Court of Chancery, on a motion for summary judgment, rejected a...more

11/14/2012

Delaware Chancery Court Holds That a Stockholder Inadequately Represents a Corporation in Derivative Litigation When He or She...

In South v. Baker, C.A. No. 7294-VCL, 2012 Del. Ch. LEXIS 229 (Del. Ch. Sept. 25, 2012), the Delaware Court of Chancery adopted a rebuttable presumption of inadequate representation when a stockholder asserts a “Caremark...more

11/14/2012

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