Did high-flyer Winstar co-opt its auditing firm?
Defendants facing securities fraud claims have won more than their share of cases in the last half a decade or so. Decisions by the U.S. Supreme Court have helped.
In 2011, for instance, the Court ruled that you must have "ultimate authority" to make a false statement
Blawgletter wrote a couple of years ago that the tougher test for pleading securities fraud under the Private Securities Litigation Reform Act and Tellabs, Inc. v. Makor & Rights, Ltd., 551 U.S. 308 (2007), "would logically mean that the reasonable person wouldn't conclude he, she, or it had a claim until he-she-it learned facts suggesting