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Descoping of works: what is the employer entitled to do?

by White & Case LLP on

Financial constraints mean that employers are often looking to descope works from major projects. But how feasible is this? A recent case highlights the potential implications for employers who attempt to descope works...more

Ninth Circuit Applies Omnicare Standard to Section 10(b) Claims, Tightens Pleading Standard for Securities Fraud

by Perkins Coie on

In City of Dearborn Heights Act 345 Police & Fire Retirement System v. Align Technology, Inc. (Dearborn), the Ninth Circuit established additional requirements for pleading securities fraud claims based on statements of...more

Chris Lazarini Discusses Burden of Materiality under Section 11 and 12 of Securities Act

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed the class action suit brought against Party City alleging the company failed to disclose material facts in SEC documents when it did not discuss the impact the decline in...more

Green Bonds – An Introduction

by White & Case LLP on

Since their introduction in 2007, Green Bonds issuances have exponentially increased in volume and have become part of the lexicon of environmental finance. Simply defined, Green Bonds raise funds for new and existing...more

U.S. Supreme Court Agrees To Hear Securities Fraud Omissions Case

by Dorsey & Whitney LLP on

The U.S. Supreme Court will resolve a critical question governing the scope of liability in securities fraud cases which has split the circuit courts to date. The case, Leidos Inc. v. Indiana Public Retirement System, No....more

Supreme Court Agrees To Hear Securities Case

by Dorsey & Whitney LLP on

The Supreme Court agreed to hear another securities case this week. Leidos, Inc. v. Indiana Public Retirement System, No. 16-581. The only other securities action currently on the High Court’s docket is Kokesh v. Securities...more

Chris Lazarini Discusses Heightened Pleading Standard Under Rule 9(b)

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed the heightened pleading standard for claims of fraud under Rule 9(b) in an auction rate securities case....more

Dechert survey: Developments in securities fraud class actions against U.S. life sciences companies

by Dechert LLP on

Life sciences companies continued to be popular targets of securities fraud class action lawsuits filed in 2016, and prudent life sciences companies should take heed of the results of this year’s decisions. In 2016,...more

Chris Lazarini Provides Insight on Application of Scienter in Securities Exchange Act Claim - Thought Leadership - Bass Berry

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on case in which class plaintiffs allege certain company officers knowingly made misleading statements about a drug's potential adverse effects which, when later...more

Not All Faith-Based Communications Are Protected By The Clergy-Penitent Privilege

by Reminger Co., LPA on

The clergy-penitent privilege (also known as the clergy privilege, confessional privilege, priest–penitent privilege, clergyman–communicant privilege, and/or ecclesiastical privilege) is a recognized form of privileged...more

"Forward Momentum: Trulia Continues to Impact Resolution of Deal Litigation in Delaware and Beyond"

Throughout the second half of 2015, the Delaware Court of Chancery began questioning its long-standing practice of approving deal litigation settlements involving broad releases for defendants in exchange for disclosure (or...more

Key Takeaways: Fourth Annual Seminar for Pharmaceutical, Biotechnology and Medical Device Companies

On October 5, 2016, Skadden hosted its Fourth Annual Seminar for Pharmaceutical, Biotechnology and Medical Device Companies. The seminar focused on the current and developing challenges facing such companies and included...more

Taming the Bull Rider: Chancery Court Reining in Mootness Fee Awards in Merger Litigation

Last month, the Delaware Chancery Court drastically reduced – from $275,000 to $50,000 – a mootness fee award requested by plaintiffs’ counsel in a lawsuit challenging the merger between PayPal and Xoom Corporation, finding...more

SEC Announces 71 Issuer MCDC Settlements

by Bracewell LLP on

On August 24, 2016, the SEC announced that it had entered into settlement orders with 71 municipal issuers and other obligated persons for violations of federal securities laws in municipal bond offerings. The issuers and...more

SEC Charges 71 Issuers under its Municipalities Continuing Disclosure Cooperation Initiative

by Cozen O'Connor on

On August 24, 2016, the Securities and Exchange Commission (SEC) announced enforcement actions against 71 municipal issuers and other obligated persons (collectively, the municipal issuers) under the SEC’s Municipalities...more

SEC Offering Fraud Built on Duty to Disclose Omissions

by Dorsey & Whitney LLP on

The Commission filed another offering fraud action in what has become virtually a continuous stream of these cases. Its latest action centers on the sale of interests in a payday lending business operated in partnership with...more

High Court Imposes Important Limits on Implied False Certification Theory, but Theory Survives as a Basis for False Claims Act...

by Bryan Cave on

In a highly anticipated ruling, the Supreme Court imposed important limits on the implied certification theory of liability under the False Claims Act (FCA). The Court’s decision should go a long way toward limiting some more...more

Inside the Courts: An Update From Skadden Securities Litigators - May 2016 / Volume 8 / Issue 2

We are pleased to present Inside the Courts (Volume 8, Issue 2), Skadden’s securities litigation newsletter. This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between...more

Steps to effectively cancel an insurance policy

The North Carolina Court of Appeals recently released an unpublished opinion further illuminating how insurers can effectively cancel worker's compensation policies. However, nothing in the case limits its application solely...more

SEC Files Another In A Series of Actions Tied to Secret Commissions

by Dorsey & Whitney LLP on

The Commission brought another in a series of actions centered on ConvergEx Execution Solutions LLC and its affiliates. As with the prior actions, this one centered on secretly adding substantial commissions to transactions...more

SEC Charges Adviser, Principals With Financial Fraud

by Dorsey & Whitney LLP on

A complex structure, attractive interest rates, a history of payments to investors and omissions about the opaque finances of the group of firms aided promoters in raising over $350 million from investors as the business...more

Second Circuit Reinforces Liability Standard in Securities Cases Based on Statements of Opinion

by Proskauer Rose LLP on

The U.S. Court of Appeals for the Second Circuit reinforced the stringency of the new standard for liability in securities cases arising from allegedly misleading statements of opinion. Construing the Supreme Court's 2015...more

Government’s Penn State Investigation Produces Lessons for In-House Counsel

The fallout at Penn State University in the wake of the Jerry Sandusky child-sexual-abuse scandal, including the victims’ suffering, Sandusky’s criminal conviction, the firing and subsequent death of legendary Coach Joe...more

Rapper rumble leads to legal rumble over use of tweet

by Thompson Coburn LLP on

If you have any remaining doubts that even tiny tweets can lead to major litigation, consider the “Ri-Ri’s Rumble” case. The case has everything: rappers, Rihanna, an eruption at a nightclub and the threat (or maybe...more

Integrating UDAAP Concerns into Compliance Management Systems

by Davis Wright Tremaine LLP on

DWT’s Payments Team participated in the ABA Consumer Financial Services Committee’s Winter Meeting in Park City, Utah last week. Andrew Owens delivered a presentation on advertising and issuing credit online during the...more

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