In a recent decision, the Supreme Judicial Court of Massachusetts (SJC) has held that a contractor seeking to enforce a lien dissolution bond under G.L. c. 254 § 14 need not record an attested to copy of its complaint with...more
The United States District Court of the District of Connecticut will soon decide whether a putative class member may intervene “for the limited purpose of tolling the statute of repose.” Statutes of repose place an outer...more
3/14/2019
/ Amended Complaints ,
Class Action ,
Federal Rules of Civil Procedure ,
Motion To Intervene ,
Price-Fixing ,
PSLRA ,
Securities Fraud ,
Standing ,
Statute of Limitations ,
Statute of Repose ,
Tolling
In a recent ruling in In re: BP p.l.c. Securities Litigation the United States District Court for the Southern District of Texas dismissed claims asserted by opt-out plaintiffs as time barred by the Exchange Act’s statute of...more
10/10/2018
/ American Pipe & Construction Co. v. Utah ,
CalPERS v ANZ Securities ,
Class Action ,
Equitable Tolling ,
Institutional Investors ,
Opt-Outs ,
SCOTUS ,
Securities Act of 1933 ,
Securities Litigation ,
Statute of Limitations ,
Statute of Repose
As we previously noted in this post, the United States District Court for the Northern District of California dismissed the Volkswagen Bondholder Plaintiff’s first amended complaint, with leave to amend, holding that it could...more
In Khoja v. Orexigen Therapeutics, Inc., the Ninth Circuit clarified the “rare circumstances” when a court may review documents extraneous to the pleadings in ruling on a motion to dismiss. Given that it has become routine...more
Former U.S. District Judge Gerald Rosen, the Special Master appointed to investigate alleged improper billing by class plaintiffs’ firms in Arkansas Teacher Retirement System v. State Street Bank and Trust Company,...more
7/19/2018
/ Attorney's Fees ,
Breach of Duty ,
Class Action ,
Class Members ,
Disgorgement ,
Duty of Candor ,
Failure To Disclose ,
Fee-Sharing ,
FRCP 11 ,
FRCP 23 ,
Institutional Investors ,
Recusal ,
Rules of Professional Conduct ,
Securities and Exchange Commission (SEC) ,
Special Master
On Tuesday, February 6, 2018, United States District Judge Jed S. Rakoff denied class counsel’s request to file under seal three supplemental agreements to a $2.95 billion settlement in the Petrobras Securities Litigation,...more
On November 4, 2016, Judge Keith Ellison of the United States District Court for the Southern District of Texas granted preliminary approval of a $175 million settlement in the federal securities class action In re: BP p.l.c....more
On June 29, 2016, the Dutch Court of East Brabant dismissed a foundation’s claims against Rabobank Group for alleged unlawful selling of interest rate swaps because it failed to meet the requirement of the Dutch Claim Code...more
Following up on our December 15 post on the debate over the best strategy to recover foreign securities losses, a collection of Dutch Foundations (known as Stichtings) negotiated a substantial collective settlement with Ageas...more
A December 22, 2015 decision of the U.S. District Court of the Southern District of Florida in In re Ocwen Financial Corporation Securities Litigation illustrates the impact that an investigation and order of the Securities...more