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28 Jul 2019, 10:23 am by Kevin LaCroix
In a recent decision, the Delaware Superior Court, applying Delaware law, held that two of Pfizer’s excess D&O insurers are on the hook for their portion of costs the company incurred in defending and settling a securities class action lawsuit, despite the excess insurers’ arguments that the claim was interrelated with an earlier securities suit and that coverage was therefore precluded under their policies’ Specific Litigation Exclusion. [read post]
4 Jun 2024, 1:05 pm by Kevin LaCroix
” The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. [read post]
14 May 2014, 4:18 am
As alleged by federal prosecutors:From 1998 through 2006, the defendants participated in a scheme to defraud investors via two successive securities broker-dealers: The Thornwater Company, L.P., ("Thornwater"); and Sky Capital LLC and associated entities, including Sky Capi... [read post]
26 Feb 2018, 5:00 am by Susan Landau
And in this increasingly interconnected world, threats to privacy and data security will grow. [read post]
3 Apr 2009, 2:36 am
  The Petition alleges that despite the defendants’ "assurances of liquidity and low risk," the company is now stuck with auction rate securities that it "cannot liquidate. [read post]
24 Jun 2007, 5:38 am
"  The PSLRA requires that a securities complaint "state with particularity facts giving rise to a strong inference that the defendant acted with the required state of mind. [read post]
8 Sep 2011, 1:01 am by Kevin LaCroix
This feature of many of these cases makes many of the subprime and credit crisis-related cases particularly challenging to try to settle, particularly where the defendant company is insolvent or in poor financial condition. [read post]
30 Nov 2009, 1:50 pm by Jon Sands
The defendant was convicted of securities fraud. [read post]
14 Mar 2012, 1:03 am by Kevin LaCroix
In other words, the consideration of the trends noted in the Cornerstone Research report represent only a part of the serious corporate and securities litigation exposure that companies face. [read post]
18 Mar 2009, 8:00 am
Section 10(b) of the Securities Exchange Act of 1934 requires a plaintiff to establish a defendant “made a materially false statement or omitted a material fact, with scienter, and that the plaintiff’s reliance on the defendant’s actions caused injury to the plaintiff. [read post]
19 Jul 2013, 7:00 am by Richard Kummer
The SEC’s complaint alleges that from March to June 2013, the ten defendants received more than 20 million shares of Entertainment Art, which was one-third of the company’s total outstanding shares. [read post]
22 Feb 2024, 10:58 am by Kevin LaCroix
” The complaint alleges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. [read post]
16 Nov 2009, 1:16 am
" The ERISA suit alleged that the defendants had breached their fiduciary duties by "imprudently permitting" the company's benefit plans to invest in and hold MMC stock, despite the fact that defendants knew or should have known that the company or its subsidiaries were engaging in bid-rigging and other illegal activities. [read post]
27 Feb 2016, 12:15 pm by Harold O'Grady
Sections include: Defining the players in a securities arbitration case; Time limitations and other deadlines; Common claims; Bringing and defending claims, arbitrators and motion practice; Discovery and hearing practice and procedures. [read post]
21 Oct 2018, 2:06 pm by Kevin LaCroix
Zelichov, a partner at Katten Muchin Rosenman LLP specializing in defending issuers and their directors and officers in securities class actions and stockholder derivative litigation, takes a look at the event-driven litigation phenomenon and the larger rise of securities suits based on mismanagement allegations. [read post]
21 Jul 2009, 8:41 am
It’s bad news for plaintiffs’ lawyers as well as for the big law firms that defend them: Securities-related class-action suits are down. [read post]