A few weeks ago, I posted a link to a Cornerstone Research report concluding that securities class action settlements were at a 10-year low. Yesterday, securities litigators Daniel Tyukody and Gerald Silk posted an article in the New York Times DealBook blog entitled Understanding the Dip in Class-Action Securities Settlements with some insights explaining the downturn. Among the explanations are [...]
Posts Tagged ‘securities fraud’
NYT Dealbook Blog: Explaining the Securities Class Action Downturn
Posted in Class Action Settlements, Class Action Trends, Securities Class Actions, tagged cornerstone research, credit crisis, dealb%k, dealbook, economic crisis, economic downturn, financial restatements, mortgage crisis, New York Times, NYT, securities class action, securities fraud, securities litigation, securities settlement, silk, tyukody on April 3, 2012 | 1 Comment »
And Speaking of Morrison…
Posted in Class Action Decisions, International Class Action Law, Securities Class Actions, tagged 10b, 10b-5, absolute activist, conduct and effects, ficeto, morrison, national australia bank, scotus, securities class action, securities fraud, transactional test, u.s. supreme court on March 6, 2012 | Leave a Comment »
The Second Circuit Court of Appeals issued a decision last week that confirms that there are still situations where primarily foreign securities fraud disputes may be litigated as class actions in the United States courts. The decision explores the contours of the US Supreme Court’s holding in Morrison v. National Australia Bank Ltd., 130 S. Ct. 2869 (2010) that § [...]
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 »
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 [...]
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 [...]
Class Action Claims Aggregators, the Latest Innovation in Entrepreneurial Litigation
Posted in Class Action Trends, tagged class action aggregator, class action settlement, investor, liquidclaims, sec enforcement, securities class action, securities fraud, settlement administrator, settlement claim on April 14, 2011 | 1 Comment »
An article published Tuesday by John D’Antona Jr. at Trader’s Magazine Online News entitled Getting a Piece of the Class Action Pie discusses a creative new idea for making a buck on class action settlements. The article discusses a service offered by a New Jersey financial technology company called LiquidClaims, Inc. According to the article, LiquidClaims has an algorithm that matches [...]
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 [...]
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 »
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 [...]
The Cycle of Victimization
Posted in class action reform, Commentary, tagged bank of america settlement, merrill lynch, sec, sec settlement, securities fraud on September 15, 2009 | Leave a Comment »
In an article today entitled “Unscrewing Shareholders,” Daniel Fisher of Forbes reviews a decision by U.S. District Judge for the Southern District of New York Jed Rakoff rejecting a settlement between the Securities and Exchange Commission and Bank of America. The case involves allegations that Bank of America committed securities fraud by paying bonuses to [...]
U.S. Supreme Court Considers Class Action Issues
Posted in Class Action News, Supreme Court Decisions, tagged CAFA, foreign cubed, inquiry notice, scotus, securities fraud, Supreme Court, u.s. supreme court on June 23, 2009 | Leave a Comment »
This month’s edition of BNA, Inc.’s Class Action Litigation Reporter (available by subscription) tipped me off to three interesting class action-related cases pending before the United States Supreme Court: 1) Morrison v. National Australia Bank, No. 08-1191 (cert pending). The Court invited the Solicitor General to submit a brief expressing the U.S. government’s views on a petition for certoriari [...]
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Association, Causation, and the Fuzzy World of the Baysian p-Value in Class Actions
Posted in Class Action Trends, Commentary, tagged 10-b, 10b, anosmia, basic, baysian, class action statistics, hopson, kaye, matrixx, p-value, reasonable investor, scientific evidence, securities, securities class action, securities fraud, statistics, zicam on November 15, 2011 | Leave a Comment »
David H. Kaye, Distinguished Professor of Law and Weiss Family Faculty Scholar at the Penn State School of Law, recently published a fascinating commentary in the BNA Insights section of the BNA Product Safety & Liability and Class Action Reporters, entitled Trapped in the Matrixx: The U.S. Supreme Court And the Need for Statistical Significance. In the article, [...]
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