When the dust finally settles and the reports on 2007 class action filings are being written, one development that should be noted as a contributing factor to the increased filings in the second half of 2007 is the emergence of class action lawsuits based on busted buyouts. Disappointed target companies that have become the target
UnitedHealth Derivative Settlement “Largest Ever”
On December 6, 2007, UnitedHealth Group announced (here) that its Special Litigation Committee had concluded its review of claims relating to the company’s option backdating practices that had been brought against certain of the company’s directors and officers.
The company also announced that its former CEO William McGuire had agreed surrender certain rights
Dismissal Granted in Subprime-Related Securities Lawsuit
As I have previously detailed (refer here), the subprime meltdown has led to a flood of new securities lawsuits. The extent to which many of these subprime-related lawsuits will withstand judicial scrutiny still remains to be seen. A recent opinion from the Central District of California — which is as far as I know
Subprime Contagion: Where Will the Litigation Wave Spread Next?
As I have previously noted (here), subprime risk may be found in some unexpected places. But since I first wrote about the dispersion of subprime risk, subprime contagion has spread to other parts of the credit marketplace. As a result, the credit meltdown story is no longer just about subprime.
In an op-ed
November Securities Lawsuit Filings Continue Upward Trend
In prior posts (most recently here), I noted that the two-year lull in securities filings that began in mid-2005 has ended. The trend of heightened securities lawsuit filing levels that has prevailed since mid-2007 continued in November 2007. In fact, the 25 new securities lawsuits filed in November (see list here) represents the