On May 16, 2024, Judge James L. Robart of the United States District Court for the Western District of Washington granted a motion to dismiss a putative securities class action against a manufacturer of pop culture...more
When private suits alleging collusion hit, I search the complaint for “confidential witness.” It used to be that private suits followed criminal resolutions. Today, however, the opposite seems true: public allegations in...more
The once-in-a-century pandemic has triggered not only market turbulence, but also unprecedented mass layoffs and furloughs. As the markets continue to fluctuate and public companies plan reductions in staff, companies—and...more
On September 30, 2019, Judge Ann M. Donnelly of the United States District Court for the Eastern District of New York dismissed a putative securities class action asserting claims brought under Sections 10(b) and 20(a) of the...more
On July 12, 2018, the U.S. Commodity Futures Trading Commission (CFTC) issued its largest whistleblower award ever, approximately $30 million, as part of its Dodd-Frank whistleblower program. This is the first award under the...more
You have received a complaint of harassment and interviewed the complainant. In this third part of a six-part series, we discuss interviewing the accused and other witnesses....more
On Monday, October 16, 2017, Judge Jon S. Tigar of the United States District Court for the Northern District of California granted in part and denied in part a motion to dismiss a shareholder class action alleging violations...more
The Commodity Futures Trading Commission (“CFTC”) recently announced the largest ever award under its Whistleblower Program created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The whistleblower...more
Quickie elections seem here to stay, but Senate Republicans aren’t giving up. On July 29, the National Labor Relations Board won another challenge to its “quickie election” rules pursued by employer groups. This time, Judge...more
More than 35 years after its decision in Anheuser-Busch, Inc., 237 NLRB 982 (1978), the NLRB has reversed course and held that employers may no longer summarily reject union requests for witness statements obtained in...more
In two decisions issued on June 26, the National Labor Relations Board overruled its longstanding precedent holding that employers may withhold witness statements from requesting unions and further held that general policies...more
A unique settlement in a Washington, D.C., Freedom of Information Act lawsuit has provided a Memphis newspaper unprecedented access to the FBI's informant records from the civil rights era, including documentation of the U.S....more
In This Issue: - AUDITOR LIABILITY - CLASS ACTIONS - CONFIDENTIAL WITNESSES - DEMAND FUTILITY - DERIVATIVE LITIGATION - FEDERAL TORT CLAIMS ACT - FOREIGN CORRUPT PRACTICES ACT - INSIDER TRADING...more
Plaintiffs’ counsel beware: to avoid Rule 11 sanctions you might actually have to talk to “confidential witnesses” yourself and corroborate their statements before citing them in a securities fraud complaint....more
In a recent Securities & Exchange Commission (“SEC”) investigation, the SEC interviewed three persons who had proffer agreements with the SEC and United States Attorney. In a subsequent SEC enforcement action, a defendant...more
A securities class action lawsuit against Canadian Solar, Inc. (CSI) was recently dismissed in the US District Court for the Southern District of New York for failing to adequately plead the required elements of a federal...more