Longtime readers may recall that back in 2005, more than 40 mutual fund managers were sued for allegedly failing to file claim forms in settled securities class actions where the fund had eligible transactions. That began our long running series of posts "File Those Claims" [...]
It has been just one week since we last updated the options backdating numbers. With the recently noticed (hey we're not perfect) settlement last month of litigation involving alleged options backdating at Sonic Solutions, Inc., (NASDAQ: SNIC) for $5 million, it's time to crunch' [...]
Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.
For the full list, please go here.
As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of [...]
While the Bloomberg story describing it may have been painfully short, the actual report released by Hong Kong’s Law Reform Commission to propose allowing multiparty litigation, is shall we say, thorough.
If adopted, the 300+ page consultation paper released last week, would add Hong Kong [...]
A new securities class action filed last week in the Southern District of California caught our eye, and the more we dug, the curiouser things became.
The complaint (here) was filed against Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) and several current and former officers and directors [...]
It has been more than four months since we last had to update the options backdating numbers. With the settlement this week of litigation involving alleged options backdating at Quest Software, Inc., (NASDAQ: QSFT) for $29.4 million, it's time to crunch the numbers once' [...]
More than 20 months ago, we wrote about Lawdragon Magazine, and their list - 100 Lawyers You Need to Know in Securities Litigation.
That list was the result of careful editorial control.
Well, the polls are now open for the people to vote on Lawdragon's recurring feature, [...]
Last month, we blogged on an academic study that tried to put a nail in the coffin for the widely held belief that there is a causal link between election contributions made to public pension fund trustees and plaintiff-side law firms representing the pension fund in securities litigation.
But [...]
More than 5 years ago, SLW noted that defendants faced with a securities class action complaint often issued press releases stating that the complaint was "without merit" and that the company intended to "vigorously" defend itself.
The issue, here at SLW World Headquarters, was "the apparently unanimous" [...]
Earlier this week The National Law Journal released their eighth annual Plaintiffs' Hot List, a self-described "subjective take on the major players in the plaintiffs' bar," with a focus on firms that are performing "exemplary, cutting-edge work on the plaintiffs' side and with "an impressive track' [...]
One of the areas that we track here at SLW headquarters is the small, but growing number of federal securities class actions that have gone to trial since the PSLRA was enacted.
Yesterday, that group got a new member, as jury selection started in the Vivendi shareholder litigation [...]
Here at SLW world headquarters, we try really, really hard to stay above the fray.
But a whole heap of emails and a couple of FedEx letters are sitting in our inbox, begging us to comment on them.
So hear goes.
The emails and letters (an example can be found [...]
An article published earlier this year may puncture the long-held belief that elected public pension fund trustees solicit (and receive) election contributions from plaintiff-side law firms in exchange for favorable treatment when those trustees are selecting outside counsel to represent the pension fund in securities litigation.
The article, Is 'Pay-to-Play' Driving [...]
Sad as it is for us to admit at SLW World Headquarters, the fleeting days of summer are quite numbered at this point, which means that conference and webcast season is upon us!
Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.
For the [...]
On July 21, 2009, I will be participating in a webcast entitled “Securities Litigation Issues Facing Institutional Investors.” The webcast will examine the fiduciary duties of institutional investors and discuss significant topics, including:
* Monitoring the portfolio: When and why you would want to be a lead [...]
A recent article by David M. Geffen of Dechert LLP makes for interesting (and timely) reading.
The article, “A Shaky Future for Securities Act Claims Against Mutual Funds," considers the liability of mutual fund issuers under §§ 11(a) and 12(a)(2) the Securities Act.
As many of you know" [...]
Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list.
For the full list, please go here.
As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of [...]
Judge Denny Chin today sentenced disgraced financier Bernard Madoff to the maximum possible sentence - 150 years.
Reuters has a story here, the Associated Press here, and Bloomberg, here.
It is interesting to note that none of the individual crimes to which Madoff pleaded [...]
Just three weeks ago, we updated the options backdating numbers. With the settlement last week of litigation involving alleged options backdating at The Children’s Place Retail Stores, Inc., (NASDAQ: PLCE) for $12 million, it's time to crunch the numbers once more.
Of the 39 options' [...]
Normally, in a blog devoted to securities litigation, any mention of the word 'plea' would suggest we are talking about a criminal case.
This is a plea of a different nature.
This past weekend, I rode in the American Diabetes Association's 2009 Tour de Cure.
Many of you know that I used [...]
Once again, it is time to update the options backdating numbers, with the recent settlement of litigation involving alleged options backdating at Marvell Technology Group Ltd. (NASDAQ: MRVL) for $72 million.
Of the 39 options backdating cases that have been filed as securities class actions, [...]
Nearly five years ago, this blog noted that defendants faced with a securities class action complaint often issued press releases stating that the complaint was "without merit" and that the company intended to "vigorously" defend itself.
The issue was "the apparently unanimous use of the word 'vigorous'" [...]
While securities class action trials are rare, they do happen.
We now have a plaintiffs' verdict in the liability phase of the latest such case, Lawrence E. Jaffee Pension Plan v. Household International, Inc., a securities class action that has been kicking around the courts since August 2002.
The finding of' [...]
With the latest addition to our securities litigation conferences, webcasts, and other events list, we hope to enter a new chapter in SLW's history - saving readers money!
SLW readers are entitled to a 20% discount off the registration fee for the below conference, simply by admitting that they read Securities [...]
Here is the latest round of updates to our securities litigation conferences, webcasts, and other events list. At one point, we thought we were going to have to rename this list, "All Madoff, All the Time," but fortunately there are a few non-Madoff related upcoming events.
For the full list, please [...]
Once again, it is time to update the options backdating numbers.
Of the 39 options backdating cases that have been filed as securities class actions, 26 have now reached a resolution. Of the resolved cases, 9 of those cases have been dismissed and 17 have settled.
The seventeen [...]
Here is the next round of updates to our securities litigation conferences, webcasts, and other events list.
For the full list, please go here.
As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of this [...]
While the recently announced $303 million settlement of the General Motors securities class action has already garnered a fair amount of attention in the blogosphere (See The 10b5 Daily and The D&O Diary), it is hard to pass up taking our own bite at the apple.
Hot off the presses is The 10b-5 Guide: A Survey of 2007 Securities Fraud Litigation from Weil, Gotshal & Manges.
Just as 2007 saw a substantial increase in the number of new federal securities class actions, the 2007 Weil guide needs more room (253 pages) to discuss [...]
Once again, it is time to update the options backdating numbers, with the announcement this week that Monster Worldwide Inc. had agreed to settle an options backdating securities class action for $47.5 million.
Of the 39 options backdating cases that have been filed as securities class [...]
Here is the next round of updates to our securities litigation conferences, webcasts, and other events list.
For the full list, please go here.
As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of [...]
Once again, it is time to update the numbers.
Of the 38 options backdating cases that have been filed as securities class actions, 23 have now reached a resolution. Of the resolved cases, 10 of those cases have been dismissed and 13 have settled.
The thirteen settlements total $1.32 billion, for an [...]
Back in May, we took a fresh look at the scorecard in the options backdating litigation, tallying up the settlements and dismissals, among other things.
It is time to update the analysis for a few reasons. One, there have been some new settlements, notably Brocade Communications which at $160 [...]
West's Corporate Practice Commentator has named the "Top 10 Corporate and Securities Articles of 2007," and the list is quite heavy with securities litigation related articles.
The full list (hat tip - Conglomerate) in alphabetical order of the initial author is below along with links to the articles.
Baker, Tom [...]
Back in February, we took a quick look at the scorecard in the options backdating litigation, tallying up the settlements and dismissals, among other things.
In our earlier review, of the 36 options backdating cases that have been filed as securities class actions, 7 had settled and 3 had [...]
There may be no such thing as a free lunch (a sentiment that I am not entirely convinced of), but simply for being an SLW reader, you can get a discount on the registration fees for an upcoming securities litigation conference.
The IQPC event, 4th Securities Litigation: Enforcement, Regulation, and [...]
According to press reports (here), the seven New Jersey public pension funds that filed the first Tyco opt-out case have settled their claims against Tyco International Ltd., Tyco chief legal officer Mark Belnick and directors Richard Bodman, John Fort III, James Pasman Jr. and [...]
Here is the next round of updates to our securities litigation conferences, webcasts, and other events list.
For the full list, please go here.
As always, readers are encouraged to send information on securities litigation related events to us via the "Contact Us" link on the upper left hand side of [...]
Back in 2004, 2005, and 2006, the former caretaker of this blog wrote about a practice known as "buried notice," and repeatedly wished (prayed?) that the practice would end.
Buried notice is how securities litigators describe the practice of "burying" the notice to class members of a [...]
Here at SLW World Headquarters, we received a call earlier today from an old law school classmate regarding Lawdragon's 100 Lawyers You Need to Know in Securities Litigation list.
We won't get into details, but it piqued our interest, so we set to work slicing and dicing the list.
A [...]
