An exclusion sometimes found in D&O insurance policies precludes coverage for claims made by shareholders who have a specified percentage of ownership in the insured company. This type of exclusion is called a Major Shareholder Exclusion (or, sometimes, the Principal Shareholder Exclusion). An interesting May 6, 2015 decision (here) by the Supreme Court
The D&O Diary Goes Down Under
The D&O Diary is on assignment in Australia this week. Here’s what you need to know about Sydney in late February – if you traverse the vast expanse of the Pacific Ocean, fly across the Equator and the International Date Line, and then finally arrive Down Under, when you get there, it is summer. Warm,
Class Action Litigation Developments in Australia
There were a number of key class action litigation developments in Australia during 2014, according to a recent memo from the Jones Day law firm. Among other things, there were significant developments in particular in the securities class action litigation arena, according to the memo. The memo, which is entitled “Class Actions in Australia: 2014
Sounding the Securities Litigation Alarm in Australia
In an interesting and provocative article, an Australian attorney has sounded the alarm on escalating securities class action litigation in his country. The May 2014 article, written by John Emmerig of the Jones Day la firm’s Sydney office, is entitled “Securities Class Actions Escalate in Australia” (here). The article suggests that in light
Australian Court: S&P Liable for Negligent Misrepresentations in Complex Financial Instrument Triple-A Rating
Though many include the rating agencies among the list of culprits that contributed to the global financial crisis, the rating agencies have up until now largely dodged attempts to hold them liable. While there have been a small number of cases (refer for example here) where courts have denied the motions of rating agencies to
Class Actions in Australia and Mexico
In this post, I review two recent law firm memos examining the state of class action litigation in Australia and Mexico, respectively. I first review class actions in Australia, and then examine class actions in Mexico below.
AUSTRALIA
Class actions, which have been available as a procedural alternative in Australia since 1992 are “now
NERA Releases Comprehensive Study of Australian Class Actions
As a result of series of legal developments, securities class action lawsuits in Australia have become have become increasingly common in recent years, and signs are that these trends will continue, according to a comprehensive study of Australian securities class action litigation issued on May 7, 2010 by NERA Economic Consulting.
The report can