Diamond Multimedia and the Uniform Standards Act: Will All Nationwide Securities Class Actions Now Be Filed In Federal Court?--Diamond Multimedia and the Uniform Standards Act
Tower C. Snow, Jr. of Brobeck Phleger & Harrison LLP
This article presents a discussion of the Uniform Securities Act and its effect on securities class action suits.
Executive Stock Sales and Securities Class Actions
Wilson Sonsini Goodrich & Rosati
This article suggests one possible way to immunize corporate executives from attacks from shareholders and accountants after the executive exercise their stock options.
California Supreme Court Opens State's Doors to Out-of-State Securities Purchasers, Sellers: Declines Invitation to Limit Reach of State Securities Laws in Light of Uniform Standards Act, PSLRA
Cadwalader, Wickersham & Taft LLP
In a case of first impression, the California Supreme Court in Diamond Multimedia Systems, Inc. v. Superior Court o.
Oxford Decision Addresses Class Certification And Lead Plaintiff Issues
Weil, Gotshal & Manges LLP
This article discusses a recent U.S. District Court decision that reached some noteworthy decisions regarding class certifications in securities fraud actions.
Denial That Company For Sale Not An Actionable Misstatement
Rosenman & Colin LLP
The United States Court of Appeals for the Fourth Circuit has affirmed the dismissal of a securities fraud class action by selling shareholders, holding that a statement that "[w]e're not a company that's for sale," made by its CEO shortly before the company announced that it had reached a merger agreement, was not actionable.
The Reform Act in Review--Twenty Months and Counting
Mike Torpey and Bobby Sepucha of Brobeck Phleger & Harrison LLP
This article details how The Reform Act changed the federal securities laws in several significant ways in an attempt to discourage frivolous securities class action lawsuits.
Dallas Securities Litigation Seminar. Seminar Summaries of Speakers John Oberdorfer and Cheryl Moore of Patton Boggs.
Patton Boggs
John Oberdorfer presented a discussion on class action law suits. Cheryl Moore spoke on cost effective management of litigation.
Ninth Circuit Reverses PSLRA Discovery Grant, Finding No Undue Prejudice
Cadwalader, Wickersham & Taft LLP
The Ninth Circuit Court of Appeals recently reversed a district court decision granting limited discovery to plaint.
Securities Litigation Uniform Standards Act Of 1998
Paul, Hastings, Janofsky & Walker LLP
On November 3, 1998, President Clinton signed into law the Securities Litigation Uniform Standards Act of 1998. T.
Congress Acts to end State-Court Securities Class Actions
Pillsbury Winthrop Shaw Pittman LLP
Good news: Congress has dealt a serious setback to securities class actions. On October 13, 1998, the House and Se.
The Securities Class Battlefield Circa 1998
Boris Feldman of Wilson Sonsini Goodrich & Rosati
This article discusses the potential impact of the Securities Litigation Reform Act.
Securities Class Action Litigation in the U.S.: What Asian issuers need to know
Jack C. Auspitz,Charles C. Comey and Paul W. Boltz of Morrison & Foerster LLP
"Why do public companies in the U.S. get sued by shareholders so often?" is a question often raised by management and directors of Asian companies which have listed in the U.S. or are considering such a listing. The answer is simple: a unique practice in the U.S. known as class action litigation. Class action litigation allows shareholders to cost-effectively aggregate their claims and recoup a portion of their losses resulting from a violation of the U.S. securities laws by the issuer.
The California Supreme Court Recognizes Holdings Claims for Securities Actions
Edward Gartenberg of Thelen LLP
Disclosures during the past three years have revealed extensive fraud involving numerous corporations-fraud so massive that it contributed to an overall decline in the stock market and perhaps to a decline in the economy generally. It is clear that the majority opinion, influenced by recent corporate scandals has opened the doors in California's state courts to holder actions.
Recent SEC Developments -- Adoption of Plain English Disclosure Rules and Amendments to Beneficial Ownership Reporting Requirements
Coudert Brothers LLP
The SEC recently adopted rules requiring the use of "plain english" in certain sections of prospectuses .
Madoff Lawsuits Chase $50 Billion in Losses
Robert J Ambrogi and IMS ExpertServices
Lawsuits by victims of Bernard Madoff's alleged $50 billion Ponzi scheme are already appearing on court dockets nationwide. But as the economy continues its freefall, the cases filed so far could be just the tip of a much-larger litigation iceberg. If so, they may provide a preview of how future lawsuits will play out.
Securities Enforcement and Litigation
William Scott O'Connell of Nixon Peabody LLP
Scott O'Connell, the leader of the Financial Services and Securities Litigation team at Nixon Peabody LLP, approached the topic of securities enforcement and litigation by using a hypothetical scenario involving "Inkblot Industries&rdquot;, a fictitious Delaware corporation doing business in California as a manufacturer of computer peripherals. Inkblot management had uncovered material revenue recognition issues; the company had reported revenue derived from certain oral side agreements.