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 [...]
Archive for the ‘Securities Class Actions’ Category
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 | 3 Comments »
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 [...]
PWC Issues Annual Securities Class Action Report
Posted in Reports and Surveys, Securities Class Actions, tagged class action report, class action statistics, Class Action Trends, securities class action on April 15, 2009 | 2 Comments »
PriceWaterhouseCoopers has published its 13th annual report on trends in private securities class actions. The 2008 report offers a variety of statistics, trends, and insights into securities class action litigation from the past year. Some of the statistical highlights include an overall increase in filings but a decrease in the number and amount of settlements. The [...]
American Lawyer: Trend in Subprime Securities Dismissals
Posted in Class Action Decisions, Class Action News, Class Action Trends, Securities Class Actions, tagged motion to dismiss, scienter, securities class action, subprime class action, tellabs on April 14, 2009 | Leave a Comment »
No time for extended entry this evening, but here’s a link to a tidbit from Andrew Longstreth of the American Lawyer (via Law.com) discussing a possible trend in the federal courts ruling on motions to dismiss subprime-related securities class actions for failure by the plaintiffs to meet the scienter requirements under Tellabs.
Securities Class Actions on the Rise in Australia?
Posted in International Class Action Law, Securities Class Actions, tagged australia class action securities class action, International Class Action Law, litigation funder on March 18, 2009 | Leave a Comment »
An article by Karina Barrymore published March 16, 2009 in heraldsun.com offers some interesting insights into trends in securities class action litigation in Australia. The article discusses the impact of the poor economy and the increasing interplay between securities regulators, plaintiffs’ firms, and litigation funders in fostering an environment ripe for securities class actions. http://www.news.com.au/heraldsun/story/0,21985,25190226-664,00.html
Forbes: Market Downturn Hasn’t Boosted Securities Class Action Business
Posted in Class Action Trends, Securities Class Actions, tagged Class Action Trends, securities class action on March 15, 2009 | Leave a Comment »
Forbes.com published an insightful article on March 11, 2009 discussing trends in securities class action lawsuits. Citing statistics from the Stanford Securities Class Action Clearinghouse, the article discusses various factors that may explain why the total amount of securities class action settlements has fallen from $16.3 billion in 2006 to $3.1 billion last year. Among the possible [...]
Wherefore, the Plaintiff Class Asks that the Defendant Be Imprisoned for a Term of Not Less than 100 Years
Posted in Class Action News, Securities Class Actions, tagged class action penalty, corporate fraud, imprisonment, securities class action on January 8, 2009 | 1 Comment »
In a sign that plaintiffs’ class action lawyers are becoming more powerful than ever, the following quote appeared in an article in today’s issue of The Economic Times: Class actions are very strong in the US and are pretty serious in terms of penalties and imprisonment. In fairness, something in the quote may have been lost in translation, but just to [...]
Securities Class Action Trends in the US and Australia
Posted in Class Action Trends, International Class Action Law, Securities Class Actions, tagged australia class action, litigation funding, securities class action, shareholder class action, subprime class action on January 5, 2009 | 2 Comments »
As we welcome in the first full business week of 2009, two news sources have recent stories discussing trends in securities class action litigation from 2008. First, the Wall Street Journal Blog reports that 2008 saw an increase in securities class action filings. However, the article also notes that suits actually dipped in the second half of the [...]
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