Securities Law › Business Torts › Constitutional Law

Supreme Court To Decide If It Will Decide Whether Section 16 Plaintiff Has Constitutional Standing

No Harm, No Foul - The late Lakers broadcaster Chick Hearn was known for coining or popularizing numerous basketball expressions, including “air ball” and ”no harm, no foul”. Now, the U.S. Supreme Court may soon...more

Second Circuit Affirms Denial of UBS’s Motion to Dismiss FHFA Complaint

On April 5, the United States Court of Appeals for the Second Circuit affirmed the decision of the district court denying UBS’s motion to dismiss the complaint brought by the FHFA. FHFA sued UBS as conservator of Fannie Mae...more

Purchase Timing A Wall To Facebook Derivative Litigation Despite Unenforceability Of Forum Selection Clause

Four derivative lawsuits against Facebook’s directors relating to alleged disclosure issues surrounding the company’s initial public offering have a new status: Dismissed. Last month, Judge Robert Sweet of the Southern...more

Inside The Courts - March 2013 | Volume 5 | Issue 1

In This Issue: *U.S. SUPREME COURT - Class Certificaton - Amgen Inc. v. Conn. Ret. Plans and Trust Funds, No. 11 1085 (U.S. Feb. 27, 2013) - Statutes of Limitations - Gabelli v. Sec. & Exch. Comm’n, No....more

Does Every 10% Owner Owe A Fiduciary Duty To The Corporation?

If I told you that all 10% owners owe a fiduciary duty to the corporation, I’d be surprised if you weren’t surprised. However, that was, in fact, the holding of the Second Circuit Court of Appeals last October in Donoghue v....more

Texas Court Rules that Regardless of Fault, CEOs and CFOs Will Have to Pay Up Under Sarbanes-Oxley Section 304

A Texas federal judge denied defendants ArthoCare CEO Michael A. Baker and CFO Michael T. Gluk’s motion to dismiss the SEC’s claim against them under Sarbanes-Oxley (“SOX”) Section 304’s clawback provision. Section 304...more

Gabelli v. SEC,

Brief Of The CATO Institute As Amicus Curiae In Support Of Petitioners

Statutes of limitations exist for good reason: Over time, evidence can be corrupted or disappear, memories fade, and companies dispose of records. Moreover, people want to get on with their lives and not have legal battles...more

Tenth Circuit Court of Appeals Denies Attempt to Withdraw Fifth Amendment Invocation

The U.S. Court of Appeals for the Tenth Circuit recently addressed the question of when a defendant can withdraw an invocation of the Fifth Amendment right to refrain from making self-incriminating statements....more

Bulldog II: SJC Eliminates First Amendment Challenge to Securities Violations Found by the Massachusetts Securities Division

A decision by the Massachusetts Supreme Judicial Court (“SJC”) on September 22, 2011, lays to rest the Secretary of the Commonwealth’s finding that a hedge fund manager, Bulldog Investors General Partnership (“Bulldog”), and...more

Supreme Court Limits Investors' Right to Sue in Securities Fraud Lawsuits

The Supreme Court issued an opinion on Monday barring a group of investors from proceeding with a lawsuit against Janus Capital Group for allegedly making misleading statements in Janus mutual fund prospectuses. The ruling...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

Skilling v. USA

Brief Amicus Curiae of Pacific Legal Foundation and CATO Institute In Suppor of Neither Party

Following Enron's downfall, the federal government charged company CEO Jeffrey Skilling with "honest services fraud" connected to the alleged manipulation of Enron's market value (and other securities irregularities). This...more

Abu Dhabi Commercial Bank, et al. v. Morgan Stanley & Co., et al.,

Opinion for Motion to Dismiss in Abu Dhabi Commercial Bank, et al. v. Morgan Stanley & Co., et al.,

A federal judge ruled that investors in a structured investment vehicle containing mortgage-backed securities sufficiently alleged an actionable misstatement against the credit rating agencies and the investment bank that...more