PSLRA

News & Analysis as of

District Court Considers Prior SEC Complaint Evidence to Establish Scienter Under PSLRA

The US District Court for the Southern District of New York recently denied a defendant’s motion to dismiss a securities fraud class action, accepting as sufficient factual allegations of scienter that were drawn from a...more

Corporate and Financial Weekly Digest - Volume IX, Issue 32

In this issue: - SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements - ICE Futures U.S. Issues Amendments to EFRP Rule and FAQs - Consumer Financial...more

Genzyme First Circuit Decision

In a huge victory for Massachusetts-based biologics manufacturer Genzyme Corporation, the First Circuit Court of Appeals on June 5, 2014 affirmed the District Court’s dismissal of a multi-million dollar shareholder class...more

Delaware Supreme Court Validates Fee-Shifting Bylaws

The Delaware Supreme Court has declared valid on its face a bylaw requiring the members of a non-stock corporation to pay its legal fees incurred in defending the members' unsuccessful suit against the corporation, endorsing...more

Appropriate Cautionary Language Leads to Dismissal of Investor’s Securities Fraud Suit

A California district court recently dismissed Mellanox Technologies Ltd. investors’ claims that the company made false statements about both its prominence in the interconnect market and its revenue and growth prospects. The...more

Court Declines To Apply Rule 9(b) To Section 25401 Claim

A complaint alleging securities fraud under Rule 10b-5 must meet the stringent pleading requirements of Rule 9(b) of the Federal Rules of Civil Procedure as well as the requirements of the Private Securities Litigation Reform...more

Halliburton And The Future of Securities Class Actions: Part III

Yesterday the Supreme Court heard argument in Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317. The case has the potential to rewrite the rules for how securities class actions are brought. This is the concluding...more

The Evisceration of the Federal Securities Law

I. Introduction - a. Legislative history of the Securities Act of 19331 (“Securities Act”) and the Securities Exchange Act of 19342 (“Exchange Act” and collectively, the “Acts”). ..i. Congress passed the Acts...more

Public Companies, Beware! Safe Harbor Protection Requires Thoughtful Warnings and a Sophisticated Defense

Public companies around the country labor under the misunderstanding that the Private Securities Litigation Reform Act’s “Safe Harbor” provision protects them from liability for publicly announced earnings guidance and other...more

Observations from the NERA Report on Class Action Trends

Many in the legal and securities compliance industries are discussing the NERA Economic Consulting report, Recent Trends In Securities Class Action Litigation: 2013 Full-Year Review. The Wall Street Journal provides a good...more

Third Circuit Court Of Appeals Finds Plaintiff Failed To Meet PSLRA’s Scienter Pleading Requirement

Rahman v. Kid Brands, Inc., 2013 WL 6038246 - Shah Rahman, the plaintiff and appellant, brought a federal securities class action in March 2011 against defendant Kid Brands, Inc. and against individual defendants Bruce...more

Inside The Courts - December 2013 | Volume 5 | Issue 4

In This Issue: *U.S. SUPREME COURT: - Halliburton Co. v. Erica P. John Fund, Inc., No. 13-317 (U.S. Nov. 15, 2013) Lawson v. FMR LLC, No. 12-3 (U.S. Nov. 12, 2013) - Chadbourne & Parke LLP v. Troice, No....more

New York District Court Limits the Applicability of the PSLRA's Safe Harbor

A U.S. District Court for the Southern District of New York recently found that a company that had provided lower earnings guidance in its statements to the public than its results from the previous year was not protected by...more

Proxy Season Brings a Third Wave of “Gotcha” Shareholder Litigation

Proxy season is upon us and the plaintiffs’ bar is demonstrating its resourcefulness by bringing a third wave of shareholder litigation. This new wave, which has not crested yet, consists of a return to derivative shareholder...more

January 2013: Securities Litigation Update

Viability of Core Operations Doctrine Still Unsettled in Second Circuit: Securities fraud plaintiffs continue to attempt to plead scienter by invoking the “core operations” doctrine, which imputes to key company officers and...more

Company's Forward-Looking Statements Protected by the PSLRA's Safe Harbor

On January 2, 2013, the U.S. District Court for the Southern District of New York dismissed a securities class action complaint filed against an online provider of medical information and three of its directors and officers,...more

16 Results
|
View per page
Page: of 1