Material Misstatements

In The SDNY, Hindsight Is No Substitute For Red Flags When Alleging Scienter

by George E. Greer, Christine Louie, Danielle Van Wert | Orrick - Securities Litigation and Regulatory... on 4/16/2013

On April 8, 2013, Judge Shira A. Scheindlin of the Southern District of New York granted auditor Deloitte Touche Tohmatsu CPA’s (“DTTC”) motion to dismiss a shareholder class action, finding that plaintiffs failed to...more

Second Take on Amgen: Defense Arguments Largely Intact, Even in Overruled Circuits

by Claire Davis | Lane Powell PC - Securities / D&O Discourse on 3/29/2013

In our post in the immediate wake of the Supreme Court’s decision in Amgen Inc. v. Connecticut Retirement Plans, we concluded that rather than being a new threat to the defense of securities class actions, Amgen basically...more

Third Circuit Court of Appeals Affirms Tax Court Decision on CARDS Tax Shelter

by Fuerst Ittleman David & Joseph, PL on 3/13/2013

On February 25, 2013, the United States Court of Appeals for the Third Circuit in the case of Crispin v. Commissioner, ___ F.3d ___, 2013 U.S. App. LEXIS 3852 (3d Cir. 2013), available here, affirmed the decision of the Tax...more

Amgen Inc. v. Connecticut Retirement Plans And Trust Funds: Does Supreme Court Put “Cart Before The Horse” To Satisfy Predominance...

by Joshua E. Roberts | Carlton Fields on 2/28/2013

To best understand this decision, we need to look at the rules concerning both class actions and securities: - According to Rule 23(b)(3), a class action may be maintained if the court finds that questions of law or...more

North Carolina Securities Act Claims Take Shape In The Business Court

by Mack Sperling | Brooks Pierce on 2/26/2013

There is little case law under the North Carolina Securities Act. But last week, in NNN Durham Office Portfolio 1, LLC v. Highwoods Realty Limited Partnership, 2013 NCBC 12, Judge Gale took several steps into that uncharted...more

District of Massachusetts Denies in Part JP Morgan’s Motion to Dismiss RMBS Investor Suit

by Orrick - Structured Finance Group on 2/20/2013

On February 13, Judge Rya W. Zobel of the District of Massachusetts dismissed in part, but largely sustained, an investor suit brought by Capital Ventures International (CVI) against J.P. Morgan and certain of its...more

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