News & Analysis as of

Civil Procedure Securities Electronic Discovery

Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:

Many Discovery Tools Exist To Find Emails To Prove Shareholder Oppression

I have noted many times on this blog that emails often prove shareholder oppression cases. It can be fairly easy for majority shareholders who are careful, and seek legal advise beforehand, to mask their true intent when...more

How to Respond When FINRA Comes Knocking

by Conduent on

A few weeks ago, we discussed how companies are increasing their investments in enterprise governance, risk and compliance, largely in response to an uptick in regulatory action and enforcement. Financial services firms,...more

The SEC Has Data Fever, and the Only Prescription Is More Data (Analytics)

by Conduent on

Companies are increasingly investing in enterprise governance, risk, and compliance (eGRC), largely in response to an uptick in regulatory action and enforcement. Between the enactment of laws such as the Dodd-Frank Wall...more

Bloomberg Chat Is No Idle Chatter

by Conduent on

Gone are the days when brokers or buy-side professionals picked up the phone to make bids and close deals. Instead, they “chat” through their Bloomberg Terminals. The more than 320,000 traders, investors, and other market...more

Delaware's Court of Chancery Clarifies Scope of Inspection Under Books and Records Demands

by Morris James LLP on

In Amalgamated Bank v. Yahoo!, Inc., C.A. No. 10774-VCL (Del. Ch. Feb. 2, 2016), Plaintiff Amalgamated Bank’s Section 220 books and records demand sought, among other things, the emails of certain Yahoo officers and...more

"Inside the Courts: Sweeping Changes Proposed to the Federal Rules of Civil Procedure"

Significant amendments to the Federal Rules of Civil Procedure submitted to Congress in April 2015 could change discovery practices in securities litigation before the end of this year. Absent legislation to reject, modify or...more

China Auditor Update: SEC and Chinese Audit Firms "Settle" for the Status Quo

by Reed Smith on

In an Order of Settlement released February 6, 2015, the SEC agreed to stay the administrative action against the Chinese affiliates of the “Big Four” accounting firms for refusing to turn over their audit work papers...more

FINRA Panel Precludes Evidence & Awards Punitives as Discovery Sanction

by Burr & Forman on

An all-public panel of FINRA arbitrators entered a preclusion order and awarded $750,000 in punitive damages for Respondents’ failure to participate in discovery and disregard of pre-hearing filing requirements....more

Delaware Court of Chancery Confirms: There Is No Such Thing as Delaware Local Counsel

by Polsinelli on

In its recent ruling on James v. National Financial LLC, Delaware's prestigious Court of Chancery reiterated the obligations to the Court of both Delaware and out-of-state counsels' obligations to the Court (Delaware...more

FINRA Issues Guidance Notice on Confidentiality Provisions in Settlement Agreements and the Arbitration Discovery Process

In Regulatory Notice 14-40, FINRA reminds members that it is a violation of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) to incorporate into a settlement agreement a confidentiality provision...more

Successful Motions to Dismiss Securities Class Actions, A Review of What Worked in 2014

by K&L Gates LLP on

Motions to dismiss have been called “the main event” in securities class actions. They are filed in over 90% of securities class actions and they result in dismissal close to 50% of the time they are filed. In contrast, out...more

The Proper Purpose Of Discovery In Derivative Suits

by Allen Matkins on

A plaintiff holding less than 2000 shares files a derivative suit against a corporation’s current or former directors and officers. The trial court finds the complaint to be internally inconsistent and that regulatory...more

Delaware Supreme Court Permits Stockholders to Overcome Corporation’s Attorney-Client Privilege for “Good Cause”

On July 23, 2014, the Delaware Supreme Court in Wal-Mart Stores, Inc. v. Indiana Elec. Workers Pension Trust Fund IBEW held that plaintiff stockholders, who make a showing of good cause, can inspect documents concerning a...more

Business Litigation Alert: "Did They Really Say That?"

by Porter Hedges LLP on

E-Mails Continue to Be the Modern "Smoking Gun" - The recent financial-collapse and bankruptcy of former mega-law firm Dewey & LeBoeuf has captivated the attention of the legal industry, but are there lessons to be...more

FINRA Revises Definition of Public Arbitrator and Proposes Changes to Discovery Guide Concerning Electronic Documents

by Wilson Elser on

The Financial Industry Regulatory Authority (FINRA), which provides the arbitration forum for resolving disputes between securities firms and customers, recently announced changes to the arbitrator selection process and...more

Corporate and Financial Weekly Digest - March 30, 2012

In this issue; - CFTC Approves Final Rule on Customer Clearing Documentation, Timing of Acceptance for Clearing, and Clearing Member Risk Management - Third Circuit Court of Appeals Limits Electronic Discovery Costs...more

T.R. Investors v. Genger

Brief of Amicus Curiae in Support of Defendant Below-Appellant Urging Reversal

This amicus brief addresses issues raised in the Court of Chancery relating to preservation and deletion of data. In the brief, amici argue that the Court misapplied technological concepts and therefore reached a conclusion...more

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