Conflict of Laws › Business Torts › Securities Law

Making A Statement: The Two Faces Of Janus In The SDNY

Almost two years after the Supreme Court issued its momentous decision in Janus Capital Group, Inc. v. First Derivative Traders, 131 S. Ct. 2296 (2011), lower courts continue to reach significantly different conclusions...more

Second Circuit Declines To Apply California Securities Law In Auction Rate Securities Case

In May 2011, I wrote about U.S. District Court Judge Susan Illston’s decision allowing a purchaser of auction rate securities to pursue claims under the California Corporations Code against Deutsche Bank Securities Inc. ...more

In Terrorem Impact of Securities Class Actions May Increase After Amgen

On June 11, 2012, the Supreme Court agreed to answer two critical class certification questions in a securities fraud case that could increase the in terrorem settlement value of these actions dramatically. The case, Amgen...more

Supreme Court to Revisit the Fraud-on-the-Market Presumption

Today, the Supreme Court agreed to hear an appeal involving certification of securities fraud class actions. The case, Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085, --- S. Ct. ----, 2012 WL 692881...more

District Court in BP Securities Class Action Dismisses Non-U.S. Securities Claims on the Basis of Morrison and Effective...

In re BP p.l.c. Securities Litigation, MDL No. 10-md-2185 (S.D. Tex. Feb. 2012), is a 129-page decision comprehensively addressing the allegations underlying and the securities claims arising from the BP oil spill of...more

Post-Morrison, State Law Rather Than Federal Supports Claims By Non-U.S. Investors for Alleged Securities Fraud

We have been following the law’s development since the U.S. Supreme Court’s decision in the U.S. Supreme Court’s decision in Morrison v. National Australia Bank (No. 08-1191). Morrison held that Section...more

Second Circuit Holds That the Private Securities Litigation Reform Act of 1995 Bars All RICO Claims Based Upon Alleged Acts of...

In MLSMK Investment Co. v. JP Morgan Chase & Co., No. 10-3040-cv, 2011 WL 2640579 (2d Cir. July 7, 2011), the United States Court of Appeals for the Second Circuit affirmed the dismissal of claims brought under the Racketeer...more

Court Rejects “Hot News” Protection for Stock Recommendations

The Court of Appeals for the Second Circuit ruled in Barclays Capital Inc. v. Theflyonthewall.com, Inc., No. 10-1372-cv (June 20, 2011) that a financial news service did not misappropriate analyst research by publishing stock...more

in Re: Chiquita Brands International Alien Tort Litigation

Opinion & Order on Motion to Dismiss

Plaintiffs allege claims against Chiquita Brands International under 28 U.S.C. sec. 1350, commonly known as the Alien Tort Statute ("ATS'"), for terrorism; material support to terrorist organizations; torture; extrajudicial...more

Morrison v. National Australia Bank

Transcript Oral Argument March 29, 2010

This is the transcript of oral argument heard by the Supreme Court in Morrison v. National Bank of Australia on March 29, 2010. The case centers on so called “F-Cubed” securities class actions. The issue to be determined...more