Scienter

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

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

Court Rejects "Core Operations" Theory of Scienter in Battery Manufacturer Fraud Case

by Dean Razavi, Emily Stern | Katten Muchin Rosenman LLP on 3/27/2013

The District Court of Massachusetts dismissed Section 10(b)(5) claims against executives of a battery systems company, holding that plaintiffs could not rely on the theory that knowledge of the falsity of the statements at...more

Corporate and Financial Weekly Digest - March 22, 2013

by Katten Muchin Rosenman LLP on 3/25/2013

In this issue: - NASDAQ Proposes Internal Audit Function Requirement for Listed Issuers - FINRA’s Frequently Asked Questions on Electronic Blue Sheet Submissions Updated Regarding Order Execution Time -...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

Looking Ahead: Forthcoming 2013 Securities and Corporate Governance Litigation Developments

by Douglas W. Greene | Lane Powell PC - Securities / D&O Discourse on 2/21/2013

This promises to be an eventful year in securities and corporate governance litigation. A number of looming developments have the potential to change the landscape for many years to come. This is the first of two posts – or...more

January 2013: Securities Litigation Update

by Quinn Emanuel Urquhart & Sullivan, LLP on 2/5/2013

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

Inside The Courts - December 2012

by Jay Kasner, Matthew Matule, Edward Micheletti, Peter Morrison, Charles Smith | Skadden, Arps, Slate, Meagher & Flom LLP on 1/7/2013

This issue of Inside the Courts, Skadden's securities litigation newsletter, includes summaries and associated court opinions of selected noteworthy cases principally decided from July to November 2012. This edition addresses...more

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