Tag Archives: securities class action lawsuits

Cornerstone Research: Securities Lawsuit Filings Rise to Highest Level in 20 Years

According to the latest annual securities litigation survey, securities class action lawsuit filings were at “record” levels in 2016. A surge of federal court merger objection lawsuit filings during the year accounted for much of the activity, but even so-called “traditional” securities lawsuit filings were at elevated levels, according to report, which was release jointly … Continue Reading

Securities Class Action Lawsuit Filings Continue at Elevated Pace in the Year’s First Half

Continuing 2015’s elevated pace, the number of securities class action lawsuit filings during the first half of 2016 accrued in numbers well above both historical averages and recent levels. The first half 2016 levels puts the securities suit filing activity on pace for the most active year for securities class action lawsuit filings since 2004.… Continue Reading

Guest Post: Bankruptcy in Securities Class Actions: Case Outcomes, Individual Liability and Side A Protection

Of the different contexts within which securities class action lawsuits arise, one of the most significant is the bankruptcy context. As detailed in the following guest post from Michael Klausner and Jason Hegland of Stanford Law School, securities class action lawsuit arising in bankruptcy are different from cases involving solvent companies. Their guest post provides … Continue Reading

Are Securities Class Action Opt-Out Actions Back?

Settlement opt-outs have been always been a feature of securities class action litigation. However, as part of the settlements of the huge cases filed during the era of corporate scandals at the beginning of the last decade, opt outs became more prevalent and they represented an increasingly significant part of the case resolution. Many of … Continue Reading

Meanwhile, Other Securities Lawsuits

When, as has been the case recently, there is a single predominant story, there also is a danger that other important developments may be overlooked. The subprime and credit crisis meltdown and related litigation has been so preoccupying that almost nothing else has broken through the noise.   However, a recent casual observation made me … Continue Reading

About Those New Securities Lawsuits…

Over the past two days, plaintiffs’ attorneys have launched a couple of new securities lawsuits. Nothing particularly noteworthy about that, in and of itself. But upon closer review, there are some rather interesting things about these new lawsuits. I note my observations below after briefly describing each of the two new lawsuits.   The first … Continue Reading

NERA Releases Mid-Year 2008 Securities Litigation Report

Following close on the heels of the Cornerstone mid-year report released earlier in the day, on July 29, 2008, NERA Economic Consulting also released its mid-year 2008 securities class action report entitled “2008 Trends: Subprime and Auction Rate Cases Continue to Drive Filings, and Large Settlements Keep Averages High” (here). A copy of the July 29 … Continue Reading

Section 11 Lawsuits: Coming Soon to a State Court Near You?

Over the last several years, Congress has made several different efforts to concentrate class action litigation in federal court.   For example, in the Securities Litigation Uniform Standards Act of 1998 (SLUSA), Congress amended portions of the Securities Act of 1933 and the Securities Exchange Act of 1934 to preempt class actions alleging fraud under … Continue Reading

Life Sciences Companies and Securities Litigation

In prior posts (most recently here), I have discussed the fact that life sciences companies remain a favored target of the plaintiffs’ securities bar. A June 2008 memorandum by Michael Kichline and David Kotler of the Dechert law firm entitled “Dechert Survey of Securities Fraud Class Actions Brought Against Life Sciences Companies”  (here) takes a … Continue Reading

Another Court Restricts Foreign Claimants’ Access

In prior posts (refer here), I have discussed the increasing reluctance of U.S. courts to exercise subject matter jurisdiction over securities claims against foreign-domiciled companies brought by foreign claimants who bought their shares on foreign exchanges (so-called “f-cubed” claimants).   In the most recent example of this, Judge Thomas Griesa of the United States District … Continue Reading

Subprime Investors Sue Rating Agency

As the subprime crisis has unfolded, one of the recurring themes has been the conflicted role of the rating agencies. Last week’s announcement (here) of a negotiated resolution of the New York State regulatory investigation of the rating agencies reflects one aspect of the recurring questions surrounding the rating agencies’ role in the current crisis. … Continue Reading

Auction Rate Preferred Securities: What’s Next in Subprime Litigation

Next up as targets in the ever-growing wave of subprime-related class action lawsuits are closed-end funds that issued auction preferred securities. The auction marketplace for these securities, like the market for auction rate municipal bonds, has broken down, and investors who bought the securities are now suing the closed end funds that issued the instruments. … Continue Reading

Two Prominent Life Sciences Securities Lawsuits Dismissed

As I have previously observed (most recently here), life sciences companies remain favored targets of the plaintiffs’ class action securities bar. Even during the two-year securities lawsuit filing lull between mid-2005 and mid-2007, lawsuit filings against life sciences companies continued more or less unabated. Indeed, as I noted here, during 2007, a year in which … Continue Reading