Law, Strategy, and Risk in Commercial Disputes
Although Abbey and Kirby were no doubt on the stingy side when it came to compensating their brethren, we have not been convinced that the District Court abused its discretion in approving class counsel's allocation.
Victor v. Argent Classic Convertible Arbitrage Fund L.P. (In re Adelphia Communications Corp. Securities & Derivative Litig.), No. 08-4904-cv…
British Petroleum now faces a two-front litigation war.
Yesterday, the Judicial Panel on Multidistrict Litigation sent to the U.S. district court in New Orleans dozens of cases alleging personal injury, wrongful death, property damage, and other economic loss resulting from the Deepwater Horizon oil spill. In re Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf …
Today, the U.S. Supreme Court twice took a narrow view of liability under federal law for fraudulent conduct.
In one case, the Court held that section 10(b) of the Securities Exchange Act of 1934 doesn't apply to overseas purchases and sales of securities. That the fraud started in or affected the U.S. didn't defeat the…
On Monday, the Second Circuit reversed dismissal of a securities fraud case against Smith Barney/Citigroup for misleading mutual fund investors about the true cost of "transfer agent" services, for which the mutual funds paid an outside vendor. After a few years, the transfer agent, at SmithBarneyCitigroup's request, started rebating most of the fees to SmithBarney/Citigroup. SmithBarney/Citigroup…
The Private Securities Litigation Reform Act of 1995 got its start as a subclause in the Contract with America. Congress overrode a veto by President Bill Clinton to pass it.
Has it panned out? The WSJ cast light on the question today.
The item focused on how much some class action law firms give to…
Yesterday, the Supreme Court peppered Merck's lawyer with hot questions. Before he started, at least, the advocate likely harbored hope that he could convince Their Honors that the two-year statute of limitations under 28 U.S.C. 1658(b) starts running before the plaintiff could have alleged enough facts to survive a motion to dismiss under the tough pleading standards of Bell Atl. Corp.
Seldom does Blawgletter get the chance to copy something we wrote a year ago, plop it into a post, and hit "Publish".
The Supremes gave us the excuse today by granting cert in Morrison v. Nat'l Australia Bank Ltd., No. 08-1191 (U.S. Nov. 30, 2009), about which we noted last October:
Down Under Securities
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