Just when we were starting to think that 2011 might mark the end of the great American class action… Today, the Supreme Court issued a unanimous decision reversing a denial of class certification in the securities class action Erica P. John Fund, Inc. v. Halliburton Co., No. 09-1403, slip op (June 6, 2011). In the opinion, authored by [...]
Archive for the ‘Securities Class Actions’ Category
2010-11 U.S. Supreme Court Class Action Tally: Defendants 1, Plaintiffs 1
Posted in rule 23, Securities Class Actions, Supreme Court Decisions, tagged erica p. john, fifth circuit, fraud on the market, frcp 23, preponderance, presumption of reliance, rule 23, securities class action, securities fraud on June 6, 2011 | Leave a Comment »
Cornerstone Research Issues Annual Report on Securities Class Action Settlements
Posted in Class Action Settlements, Class Action Trends, Reports and Surveys, Securities Class Actions, tagged "plaintiff-style" damages, accounting principles, class action settlement, cornerstone research, institutional investor, pslra, reform act, securities class action, securities class action settlement on March 16, 2011 | Leave a Comment »
Yesterday, Cornerstone Research published its annual report titled Securities Class Action Settlements–2010 Review and Analysis. Among the findings in this year’s report: The number of approved securities class action settlements was at a 10-year low The total dollar value of settlements decreased 17% from 2009 to 2010, The median settlement amount was up 40%, but the average [...]
Supreme Court Adds a Fourth Class Action Case to its Docket
Posted in Class Action Decisions, Federal Civil Procedure, Federal Court Decisions, Securities Class Actions, Supreme Court Decisions, tagged burden of proof, class certification, erica p. john fund, fraud on the market, halliburton, price inflation, scotus, securities class action, securities fraud, Supreme Court, u.s. supreme court on January 7, 2011 | 1 Comment »
Instead of a trilogy of class action decisions by the U.S. Supreme Court this term, it looks like there will be a “quadrilogy“! For the fourth time in the October 2010 Term, the Court has granted certiorari in a class action-related case. Today, the Court granted cert in Erica P. John Fund, Inc. v. Halliburton Co., No. 09-1403. The [...]
Class Action Blogosphere Periodic Review
Posted in Class Action Trends, Supreme Court Decisions, Class Action News, Employment Class Actions, Class Action Decisions, Securities Class Actions, Consumer Class Actions, tagged collateral estoppel, consumer class action, securities class action, class arbitration waiver, class action waiver, wage and hour class action, ascertainability, concepcion, AT&T Mobility, all writs act, fast food class action, mcdonald's class action, expert witness discovery, rule 26(a)(2), oppression remedy, hooters on November 9, 2010 | 2 Comments »
It’s back! We can’t promise that it will appear weekly, so we changed the name to Class Action Blogosphere “Periodic” Review. But, as always, we have combed through our favorite blogs and news feeds to bring our readers up to speed on a some of the notable developments in class action news. The End of [...]
Supreme Court Justices Take on Foreign-Cubed Problem
Posted in Class Action News, Class Action Trends, Securities Class Actions, Supreme Court Decisions, tagged f-cubed, foreign cubed, morrison, scotus, securities class action, Supreme Court, transnational class action on March 30, 2010 | Leave a Comment »
The United States Supreme Court heard oral argument Monday in the foreign cubed securities class action Morrison v. National Australia Bank, Ltd., Case No. 08-1191. A copy of the transcript is available on the Court’s website. Professor Hannah L. Buxbaum, Executive Associate Dean for Academic Affairs at the Indiana University Maurer School of Law at Bloomington, has [...]
Vivendi Verdict Thickens Plot in Foreign-Cubed Class Action Battle
Posted in Class Action Decisions, Class Action Trends, International Class Action Law, Securities Class Actions, Uncategorized, tagged f-cubed, foreign cubed, international class action, morrison, securities class action, securities fraud, transnational class action, vivendi on February 8, 2010 | 1 Comment »
As reported by a variety of news outlets, including the New York Times and Wall Street Journal, on January 29, a federal jury found French conglomerate Vivendi liable for securities fraud, setting the stage for a potential multi-billion dollar damages award. In 2008, the United States District Court for the Southern District of New York had made headlines [...]
Cert Granted in Morrison v. National Australia Bank Ltd.
Posted in International Class Action Law, Securities Class Actions, Supreme Court Decisions, tagged foreign class action, foreign cubed, international class action, morrison, national australia bank, securities class action, transnational class action on December 1, 2009 | 2 Comments »
The United States Supreme Court has granted certiorari to review the Second Circuit’s decision in the ”foreign-cubed” securities class action Morrison v. National Australia Bank, Ltd., No. 07-0583-cv (2d Cir. 2008). The Second Circuit’s decision is discussed at some length in this October 28, 2008 CAB Entry. The Supreme Court docket number is 08-1191. The questions presented for review are [...]
Supreme Court Considers “Inquiry Notice” Standard in Securities Class Actions
Posted in Class Action News, Securities Class Actions, Supreme Court Decisions, tagged inquiry notice, merck v. reynolds, scienter, scotus, securities class action, u.s. supreme court, United States Supreme Court, vioxx on November 30, 2009 | Leave a Comment »
The Supreme Court heard argument today in the securities class action case, Merck & Co., Inc. v. Reynolds, No. 08-905 (U.S.). The case involves allegations that the defendant defrauded investors by making false statements about the health risks associated with the drug Vioxx. The issue in the case, courtesy of SCOTUS Wiki, is Whether under the “inquiry [...]
Stanford/Cornerstone Issue Mid-Year Report on Securities Class Action Trends
Posted in Class Action Trends, Reports and Surveys, Securities Class Actions, tagged class action report, Class Action Trends, financial crisis litigation, global financial crisis, securities class action on July 21, 2009 | Leave a Comment »
As reported in this recent Financial Times article, the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research have issued a Mid-Year Report on trends in securities class action filings. Among the report’s key findings are that U.S. securities class actions against foreign companies are on the rise and that the financial industry continues to be the target of “unprecedented [...]
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What Fraud Claims Make for a Good Class Action? Justice Breyer has an Idea.
Posted in Commentary, Securities Class Actions, Supreme Court Decisions, tagged breyer, erica p. john fund, fraud, fraud on the market, halliburton, oral argument, presumed reliance, presumption of reliance, reliance, scotus, securities fraud, Supreme Court on April 25, 2011 | Leave a Comment »
The United States Supreme Court heard oral argument today in the case of Erica P. John Fund, Inc. v. Halliburton Co., No. 09-1403. A transcript of the argument is now available on the Court’s website. Erica P. John Fund involves the appropriate standard for assessing class certification in securities fraud cases brought under the “fraud [...]
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