News & Analysis as of

Class Action Stocks

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Patterson Belknap Webb & Tyler LLP

Increase in Securities Litigation and Regulatory Scrutiny Concerning Artificial Intelligence

Several recent lawsuits, and comments by the U.S. Securities and Exchange Commission (“SEC”) and Federal Trade Commission (“FTC”), underscore the increasing litigation and regulatory scrutiny concerning the use of artificial...more

McDermott Will & Emery

The 411 on Employment Background Checks in Stock and Asset Transactions

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Employment background checks help employers hire individuals with integrity whom they can trust, and who do not present a risk to the business, other employees, or the customers and clients that the business serves. Buyers in...more

Jackson Lewis P.C.

Failure To Identify Specific Viable Alternative Action Dooms Stock Drop Claim

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The Ninth Circuit recently affirmed the dismissal of an ERISA employer-stock drop putative class action, holding that the plaintiff’s failure to identify specific, viable alternative actions that plan fiduciaries should have...more

Rivkin Radler LLP

Insurance Update - March 2021

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In our March Insurance Update, we discuss four state supreme court cases and four cybercrime cases. The state high courts address: •From whose perspective should a consent-to-settle provision be judged? •What standard...more

UB Greensfelder LLP

Lessons From the First Dismissal of a COVID-19 Related Securities Class Action Lawsuit

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Despite a general decline in filings of securities class action litigation in 2020, the economic fallout from the coronavirus pandemic has led to an uptick of securities fraud cases alleging failure to disclose risks of the...more

Sheppard Mullin Richter & Hampton LLP

Successful Dismissal of PayPal Class Action Over Breach Disclosures Serves as Risks Reminder

A class action lawsuit filed against PayPal in connection with a breach it suffered in 2017 was dismissed recently because the plaintiffs did not adequately allege PayPal’s intent to deceive investors. The litigation began...more

Vinson & Elkins LLP

When Near-Perfect Isn’t Good Enough – Lawsuit Alleges Securities Law Violations By COVID-19 Test Manufacturer

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The global coronavirus pandemic has brought confusion and uncertainty to just about every aspect of life, but one thing remains constant: following a dramatic drop in stock price, an issuer’s public statements will be...more

Bradley Arant Boult Cummings LLP

Second Circuit Clarifies How Price Impact Can Be Rebutted at the Class Certification Stage in Securities Fraud Class Actions

Last month, in Arkansas Teachers Retirement System v. Goldman Sachs Group, Inc., the Second Circuit vacated the Southern District of New York’s order certifying a class in a Rule 10b-5 securities fraud class action. At issue...more

Carlton Fields

Second Circuit Reiterates: Defendants Must Satisfy Burden Of Persuasion Through A Preponderance Of The Evidence To Rebut Basic...

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The Second Circuit, in keeping with its recent decision in Waggoner v. Barclays, reaffirmed that defendants must satisfy the burden of persuasion by a preponderance of the evidence to rebut the presumption established by the...more

Hogan Lovells

Delaware Chancery Court Extends Application of MFW Standard to Conflicted Stock Issuances

Hogan Lovells on

In a recent decision, the Delaware Court of Chancery granted a motion to dismiss a complaint asserting breach of fiduciary duty claims arising out of a stock issuance proposed by a controlling stockholder. IRA Trust f/b/o...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more

Pierce Atwood LLP

First Circuit Affirms Tough Standard for Alleging Securities Fraud; Revives One Claim Against Local Drug Maker

Pierce Atwood LLP on

On November 28, 2016, the First Circuit upheld the dismissal of all but one of the class action securities fraud claims against Cambridge, MA drug company, ARIAD Pharmaceuticals, Inc., reaffirming the exacting pleading...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

Proskauer - Corporate Defense and Disputes

Second Circuit Affirms Exclusion of Certain Foreign Purchasers and Purchases from Securities Class Action

The U.S. Court of Appeals for the Second Circuit issued a lengthy opinion today in the long-running In re Vivendi, S.A. Securities Litigation, affirming the jury’s verdict on liability and addressing issues about loss...more

Carlton Fields

Cornerstone Report Describes Securities Class Action Litigation Shift Toward West Coast and Smaller Public Companies

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Recently, Cornerstone Research, an economic and financial consultancy, released its mid-year report on federal securities class action filings. Cornerstone reported that 85 of these lawsuits were filed in the first half of...more

BakerHostetler

District Court Follows Supreme Court’s Lead in Halliburton, Allows Class Action to Proceed with Narrowed Factual Scope

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Applying the Supreme Court’s landmark decision in Halliburton Co. v. Erica P. John Fund, Inc., 134 S. Ct. 2398 (2014) (“Halliburton II”), which allowed companies facing securities fraud class actions to defeat certification...more

Carlton Fields

Damage Models Create Individualized Issues For Pre-Explosion Subclass Of BP Shareholders, But Present No Impediment For...

Carlton Fields on

The Southern District of Texas recently denied certification of a subclass of BP shareholders who purchased shares prior to the Deepwater Horizon explosion and alleged that misstatements regarding safety improvements caused...more

BakerHostetler

Wall Street Banks, Stock Exchanges and High Frequency Trading Firms Hit With Securities Fraud Class Action

BakerHostetler on

Last month, the City of Providence, Rhode Island filed a first-of-its-kind class action against Wall Street banks, securities exchanges and brokerage firms over alleged violations of federal securities laws stemming from the...more

Proskauer - Employee Benefits & Executive...

High Court Employee Benefits Cases: A Review and Look Ahead

Having settled into the new year, we reflect on decisions from the U.S. Supreme Court in 2013 that are likely to have a significant impact in the world of pension and welfare employee benefits and, in some cases, already have...more

Morrison & Foerster LLP

Corruption Allegations in China Lead to a Shareholder Class Action in the U.S.

The filing of a shareholder class action has become routine following a drop in stock price after the revelation of adverse news about a company. Allegations of corruption at a public company are proving to be no different,...more

Katten Muchin Rosenman LLP

Delaware Chancery Court Applies Business Judgment Rule to Going Private Transaction with Controlling Stockholder

In In re MFW Shareholders Litigation, on May 29 the Delaware Court of Chancery granted summary judgment in favor of MacAndrews & Forbes Holdings Inc. in a class action suit brought by former stockholders of M&F Worldwide...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2013

Proskauer Rose LLP on

In This Issue: - Editors' Overview - The Future Role of Experts in ERISA Class - View from Proskauer: Health Insurance Exchanges and Retiree Medical Exits--Five Ways To Make Sure It's Really a "Soft...more

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