Securities Law, Civil Procedure, Business Torts

In re LIBOR-Based Financial Instruments Antitrust Litigation: A Long Road Ahead

by Susan E. Foster | Perkins Coie on 5/17/2013

In a self-described “unexpected” ruling for the defendants in the consolidated LIBOR proceedings, Judge Naomi Reice Buchwald has dismissed the private plaintiffs’ antitrust and Racketeer Influenced and Corrupt Organizations...more

Re: Sino-Forest Corporation – When is an Indemnity Claim Really Just an Equity Claim?

by Domenico Magisano, Jason Squire | Lerners LLP on 5/16/2013

When public companies are accused of accounting irregularities, class action shareholder litigation often follows. The case of Sino-Forest Corporation (“SFC”) is such an example. Weighed down by allegations of accounting...more

District Court Denies Countrywide’s Motion to Dismiss AIG Suit

by Orrick - Structured Finance Group on 5/15/2013

On May 6, Judge Mariana Pfaelzer of the United States District Court for the Central District of California allowed American International Group, Inc. (AIG) to proceed with several of its claims against Bank of America and...more

New York Appellate Court Reinstates Fraudulent Inducement Claim Against Goldman and M&T Bank

by Orrick - Structured Finance Group on 5/15/2013

On May 7, New York’s First Department appellate court reinstated CIFG Assurance North America, Inc.’s fraud claim against Goldman Sachs & Co. and M&T Bank. Last May, a New York trial court dismissed CIFG’s claim for...more

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

by Keith Paul Bishop | Allen Matkins Leck Gamble Mallory & Natsis... on 5/15/2013

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

Where There’s Smoke, There’s FIRREA

by Melissa J. Anderson, Lori Lynn Phillips, Frank Scaduto | Orrick - Securities Litigation and Regulatory... on 5/14/2013

Few can ignite a legal firestorm like U.S. District Judge Jed Rakoff of the Southern District of New York. Last week, in a mortgage fraud suit against Bank of America and Countrywide, Judge Rakoff refused to dismiss a novel...more

District Court Denies Banks’ Motions to Dismiss Litigation Concerning Role of MBS Trustees

by Orrick - Structured Finance Group on 5/14/2013

On May 6, Judge Katherine Forrest of the United States District Court for the Southern District of New York denied Bank of America and U.S. Bank’s motions to dismiss an action relating to their roles as trustees of Washington...more

Think the Government’s Claim Against You Is Time-Barred? Not So Fast!

by Joshua Sherman, Claude Tusk | Dechert LLP on 5/9/2013

When a company understands that the United States Government may have a claim against it, the company’s directors and officers are usually very aware of the applicable statute of limitations and the passage of time. When the...more

Second Circuit Ruling Applied to Revive MBS Claims

by Orrick - Structured Finance Group on 5/9/2013

On May 1, Judge Harold Baer, Jr. of the U.S. District Court for the Southern District of New York reinstated previously dismissed claims in two class actions brought by several pension fund plaintiffs against Royal Bank of...more

Delaware Court Dismisses Securities Fraud Action Against Power Plant Executives

by Michael S. Gordon, Dean Razavi | Katten Muchin Rosenman LLP on 5/8/2013

The US District Court for the District of Delaware dismissed a class action for securities fraud against former officers and directors of a geothermal energy company, in which the plaintiffs alleged that the defendants had...more

Second Circuit Further Curtails Duty of Prudence Claims in Saint Vincent Catholic Medical Centers v. Morgan Stanley

by Jennifer Clark, Angelo Savino | Cozen O'Connor on 5/8/2013

In a line of recent cases, the 2nd Circuit has limited ERISA plaintiffs’ claims for breach of the duty of prudence by holding that investments of benefit plan funds in employer securities pursuant to plans calling for such...more

Gaming Company’s Regulatory Delays Insufficient to Give Rise to a Securities Fraud Claim

by Michael S. Gordon, Dean Razavi | Katten Muchin Rosenman LLP on 5/8/2013

The US District Court for the Northern District of Illinois dismissed securities fraud claims against WMS Industries (WMS), a gaming and slot machine manufacturer, and certain of its executives, holding that a would-be class...more

In re Wayport, Inc. Litig., Consol. C.A. No. 4167-VCL (Del. Ch. May 1, 2013) (Laster, V.C.)

by Potter Anderson & Corroon LLP on 5/8/2013

In this opinion, the Court of Chancery, applying the “special facts doctrine,” rejected the plaintiffs’ claims for breach of the fiduciary duty of loyalty against the defendants arising out of sales of the plaintiffs’ stock...more

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

by Justin Bagdady, Richard A. Martin | Orrick - Securities Litigation and Regulatory... on 5/7/2013

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

C.D. Cal. Greenlights SOX Claim, Analyzing Whether Scienter Must Be Shown Where Violation Of Internal Controls Is Alleged

by Noa Baddish, Harris M. Mufson, Steven J. Pearlman | Proskauer - Whistleblowing & Retaliation on 5/7/2013

On April 24, 2013, the U.S. District Court for the Central District of California issued its final ruling that a SOX whistleblower complaint survived a Rule 12(b)(6) challenge. Zulfer v. Playboy Enterprises, Inc., No....more

Rich v. Chong, C.A. No. 7616-VCG (Del. Ch. Apr. 25, 2013) (Glasscock, V.C.)

by Potter Anderson & Corroon LLP on 5/7/2013

In this opinion, the Court of Chancery denied a motion to dismiss a derivative action brought by a stockholder of Fuqi International, Inc. because the plaintiff pled facts that raised a reasonable doubt that the Fuqi board...more

Corporate and Financial Weekly Digest - May 3, 2013

by Katten Muchin Rosenman LLP on 5/6/2013

In this issue: - SEC Issues Proposal Regarding Cross-Border Security-Based Swap Activities - CFTC Staff Issues No-Action Letters - Delaware Court Dismisses Securities Fraud Action Against Power Plant...more

Pennsylvania Court Dismisses Shareholder Derivative Action Against Directors of H.J. Heinz Under Cuker v. Mikalauskas and the...

by Michael Kichline, Peter Kreher, William McEnroe | Dechert LLP on 5/2/2013

The Honorable Christine Ward of the Allegheny County Court of Common Pleas in Pittsburgh dismissed a consolidated shareholder derivative suit against the Board of Directors of H.J. Heinz Co. (“Heinz”) following a...more

Home

Legal News

Find a Lawyer

Browse Subjects

Subscribe

Pro Services

For Reporters

Securities Law › Civil Procedure › Business Torts

In re LIBOR-Based Financial Instruments Antitrust Litigation: A Long Road Ahead

Re: Sino-Forest Corporation – When is an Indemnity Claim Really Just an Equity Claim?

District Court Denies Countrywide’s Motion to Dismiss AIG Suit

New York Appellate Court Reinstates Fraudulent Inducement Claim Against Goldman and M&T Bank

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

Where There’s Smoke, There’s FIRREA

District Court Denies Banks’ Motions to Dismiss Litigation Concerning Role of MBS Trustees

Think the Government’s Claim Against You Is Time-Barred? Not So Fast!

Second Circuit Ruling Applied to Revive MBS Claims

Delaware Court Dismisses Securities Fraud Action Against Power Plant Executives

Second Circuit Further Curtails Duty of Prudence Claims in Saint Vincent Catholic Medical Centers v. Morgan Stanley

Gaming Company’s Regulatory Delays Insufficient to Give Rise to a Securities Fraud Claim

In re Wayport, Inc. Litig., Consol. C.A. No. 4167-VCL (Del. Ch. May 1, 2013) (Laster, V.C.)

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

C.D. Cal. Greenlights SOX Claim, Analyzing Whether Scienter Must Be Shown Where Violation Of Internal Controls Is Alleged

Rich v. Chong, C.A. No. 7616-VCG (Del. Ch. Apr. 25, 2013) (Glasscock, V.C.)

Corporate and Financial Weekly Digest - May 3, 2013

Pennsylvania Court Dismisses Shareholder Derivative Action Against Directors of H.J. Heinz Under Cuker v. Mikalauskas and the...

Credit Crunch Digest -- April 2013

Federal Court Dismisses $31 Million FDIC Suit as Time-Barred

Editorial: Supreme Court Lowers Bar For Class Action Certification

Shareholder Derivative Litigation: Keeping an Eye on the Parallel Class Action

Record SEC Settlement In S.A.C. Capital Investigation. Well….Kind Of

Delaware Supreme Court Upholds Collateral Estoppel in Multiforum Litigation

Second Circuit Rejects Edge Act Jurisdiction in AIG RMBS Case

Expand Your Reach