In a recent ruling in In re: BP p.l.c. Securities Litigation the United States District Court for the Southern District of Texas dismissed claims asserted by opt-out plaintiffs as time barred by the Exchange Act’s statute of...more
10/10/2018
/ American Pipe & Construction Co. v. Utah ,
CalPERS v ANZ Securities ,
Class Action ,
Equitable Tolling ,
Institutional Investors ,
Opt-Outs ,
SCOTUS ,
Securities Act of 1933 ,
Securities Litigation ,
Statute of Limitations ,
Statute of Repose
Former U.S. District Judge Gerald Rosen, the Special Master appointed to investigate alleged improper billing by class plaintiffs’ firms in Arkansas Teacher Retirement System v. State Street Bank and Trust Company,...more
7/19/2018
/ Attorney's Fees ,
Breach of Duty ,
Class Action ,
Class Members ,
Disgorgement ,
Duty of Candor ,
Failure To Disclose ,
Fee-Sharing ,
FRCP 11 ,
FRCP 23 ,
Institutional Investors ,
Recusal ,
Rules of Professional Conduct ,
Securities and Exchange Commission (SEC) ,
Special Master
First there was Libor. Next came credit default swaps and foreign exchange. Now, highlighted by the over $2 billion settlement reached in the Foreign Exchange Antitrust Litigation, plaintiffs are pursuing a number of...more
Recently, in Melbourne City Investments Pty Ltd v. Treasury Wine Estates Limited (“Treasury Wine”), the Full Court of the Federal Court of Australia considered a primary judge’s class closure order which broke new ground in...more
The U.S. Supreme Court‘s 2017 term begins October 2nd and we will be tracking at least three cases relevant to institutional investors:
•Cyan, Inc. v. Beaver County Employees Retirement Fund
•Digital Realty Trust v....more
9/13/2017
/ Anti-Retaliation Provisions ,
Class Action ,
Cyan Inc v Beaver Cty Emps Ret Fund ,
Digital Realty Trust Inc v Somers ,
Dodd-Frank ,
Failure To Disclose ,
Institutional Investors ,
Internal Reporting ,
Item 303 ,
Leidos Inc v Indiana Public Retirement System ,
NVIDIA ,
Regulation S-K ,
Removal ,
Rule 10(b) ,
Rule 10b-5 ,
Sarbanes-Oxley ,
SCOTUS ,
Securities Act ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
SLUSA ,
State Securities Claims ,
Whistleblowers
On September 27, 2016, the Second Circuit ruled against an opt-out action brought in the continuing Vivendi litigation. The recently issued opinion, however, does have positive implications for institutional investor class...more
On June 29, 2016, the Dutch Court of East Brabant dismissed a foundation’s claims against Rabobank Group for alleged unlawful selling of interest rate swaps because it failed to meet the requirement of the Dutch Claim Code...more
Recently, class plaintiffs moved for the preliminary approval of a $1.865 billion settlement of the Credit Default Swap Antitrust Litigation. In this case the plaintiffs alleged that, in and around 2008 and 2009, a number of...more
The U.S. Court of Appeals for the D.C. Circuit recently reversed the dismissal of a securities fraud class action against Harman International Industries Inc., holding that the “safe harbor” for forward looking statements did...more
8/4/2015
/ Boilerplate Language ,
Dismissals ,
Financial Reporting ,
Inadequate Warning ,
Institutional Investors ,
Misleading Statements ,
PSLRA ,
Reversal ,
Safe Harbors ,
Securities Exchange Act ,
Securities Fraud
With the increasing barriers to successfully prosecuting a securities fraud case in the United States, including the jurisdictional limitations caused by the Morrison decision, institutional investors are sometimes now...more
7/23/2015
/ Attorney's Fees ,
Australia ,
Australian Stock Exchange ,
Class Action ,
Discovery ,
Indemnification ,
Institutional Investors ,
Jurisdiction ,
Legal Costs ,
Litigation Funding ,
Morrison v National Australia Bank ,
Securities Fraud ,
Testimony