News & Analysis as of

Class Action Investment Adviser

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Paul Hastings LLP

Public Company Watch: July 2024

Paul Hastings LLP on

In the July edition of our Public Company Watch, we cover key issues impacting public companies, including the new Compliance and Disclosure Interpretations related to the cybersecurity disclosure rules and the recent SEC...more

Seward & Kissel LLP

Class Action Suit Filed Against Morgan Stanley Over Rates on Bank Deposit Program

Seward & Kissel LLP on

On June 14, 2024, a class action lawsuit was filed in the U.S. District Court for the Southern District of New York against Morgan Stanley alleging a breach of its fiduciary duty to customers and unjust enrichment by, among...more

ArentFox Schiff

ESG Update: Two Court Decisions Highlight the Importance of the “G” in “ESG”

ArentFox Schiff on

ESG stands for “environmental, social, and governance.” Though often overlooked, two recent cases — Spence v. American Airlines and Exxon v. Arjuna Capital, LLC — focus on G’s place in the ESG initialism. Here, we break...more

Davis Wright Tremaine LLP

Excessive Fees or Incessant Litigation – Time for Legislative and Employer Action on Retirement Plans!

Commonly referred to as "excessive fee" litigation, class actions that allege retirement plan investments charge too much and earn too little have increased over the past two decades. Excessive fee cases are difficult to...more

Stikeman Elliott LLP

Pleading Breaches of Fiduciary Duties in Class Proceedings: Court of Appeal Keeps the Bar Low in Ontario

Stikeman Elliott LLP on

In Boal v International Capital Management Inc.(“Boal”), the Ontario Court of Appeal (the “Court”) considered the pleading requirements for certification of a breach of fiduciary duty cause of action. In holding that it was...more

Carlton Fields

Preparing for 2024: Encore to 2023’s Cyber and Privacy Extravaganza

Carlton Fields on

Step right up as we discuss some of 2023’s most notable cybersecurity and privacy regulatory and litigation developments and tips for keeping your program flying high. Regulatory Activity New regulatory requirements now in...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit: Changes to a Services Agreement Require Consideration of Indirect Compensation

A recent Ninth Circuit decision has generated considerable controversy amongst employee benefits practitioners by holding that plan fiduciaries engaged in prohibited transactions when they amended the plan’s existing...more

White & Case LLP

AI Legal News Summer Roundup: Edition 3

White & Case LLP on

Welcome to the third edition of our AI Legal News Summer Roundup! After five class actions were filed between June 28 and July 11 (as reported on in our first edition of this series), on July 21, another class action lawsuit...more

A&O Shearman

Georgia District Court Grants Motion To Dismiss Class Action Against Investment Bank For Aiding And Abetting Fraud, Finding That...

A&O Shearman on

On August 17, 2022, Judge Steven D. Grimberg of the United States District Court for the Northern District of Georgia granted a motion to dismiss a putative class action alleging an investment bank (the “Company”), certain of...more

Mintz

Section 18 "Eyeball Reliance" Claim Brought to the SPAC Fight

Mintz on

As my Mintz colleague, Peter Saparoff, suggested a few years back, Section 18 of the Securities Exchange Act of 1934, "while seldom used in the past, has been increasingly used by institutional investors in suits against...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Walgreens settles for almost $14 million

Walgreens has settled a class-action lawsuit after agreeing to pay $13.75 million into a settlement fund for a class of approximately 195,000 current and former participants of the plan. In addition, the pharmacy will remove...more

Goodwin

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity

Goodwin on

Northern District of California Dismisses Shareholder Derivative Suit Concerning Lack of Diversity; Delaware Court of Chancery Dismisses Stockholder Suit Against Medical Device Company for Failure to Plead Demand Futility;...more

Jackson Lewis P.C.

Second Circuit: Investment Advisor Not Covered By Plaintiff’s Employment Arbitration Agreement

Jackson Lewis P.C. on

The U.S. Court of Appeals for the Second Circuit recently concluded that investment advisor Ruane Cunniff & Goldfarb must face a proposed class action under ERISA Section 502(a)(2) for breach of fiduciary duty relating to its...more

Bennett Jones LLP

Supreme Court Reaffirms Low Bar for Authorizing Class Actions in Québec

Bennett Jones LLP on

On October 30, 2020, a six-judge majority of the Supreme Court of Canada confirmed, in Asselin v Desjardins Cabinet de services financiers inc, 2020 SCC 30, that a class action concerning allegedly misleading investment...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - January 2020

In this issue, we summarize regulatory, litigation and industry developments from October 2019 to early January 2020 impacting the investment management sector, including SEC action on use of derivatives by registered...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - September 2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between May and August 2019....more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - September 2019

In this issue, we summarize regulatory, litigation and industry developments from May to September 2019 impacting the investment management sector, including SEC action on standards of conduct for broker-dealers and...more

Blake, Cassels & Graydon LLP

Alberta Court Denies Class Proceedings Against Investment Advisor, Supervisor and Dealer Institution

The Court of Queen’s Bench of Alberta illustrated the individualized view Alberta courts take towards the relationship between investors and investment advisors, supervisors and dealer institutions, in its recent decision of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Class Action Proxy Litigation Highlights Need for Corporate Defense Strategies in Closed-End Funds

On June 4, 2019, a hedge fund managed by Saba Capital Management L.P. filed lawsuits in Delaware Chancery Court and in Maryland Circuit Court against three BlackRock-managed registered closed-end funds, the trustees/directors...more

Faegre Drinker Biddle & Reath LLP

Best Practices for Plan Sponsors #8

Best Practices: Lessons Learned from Litigation—the Anthem Case - I am writing two series of articles that together are called “The Bests.” One is about Best Practices for Plan Sponsors, while the other is about the Best...more

Sheppard Mullin Richter & Hampton LLP

Class Size Doesn’t Matter—Seventh Circuit Holds That Federal Law Bars Private Securities Class Actions Brought Under State Law...

In Nielen-Thomas v. Concorde Investment Servs., LLC, No. 18-2875, 2019 WL 302766 (7th Cir. Jan. 24, 2019), the United States Court of Appeals for the Seventh Circuit held that the Securities Litigation Uniform Standards Act...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Retirement Plan Advisors Advantage - July 2018

A Plan Advisor Should Be Careful About Their TPA Referrals. They need to. There was a time when a 401(k) financial advisor could get 75 to 100 basis point working on a plan, those were the days of wine and roses. Now...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Home Depot is the next 401(k) lawsuit target

The company that told us we can do home improvement by ourselves might not have been able to properly run their 401(k) plan. Home Depot is now the target of a $140 million class-action lawsuit that was filed in the U.S....more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2 - Q&As on Annuity Sales Practices,...

Carlton Fields on

Last month, we wrote about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This paper continues that discussion. I emphasize to the reader that...more

39 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide