2013 mutual funds and investment management conference *

USA - April 8 2013
Ms. McMillan's remarks focused on "regulatory climate change" for funds, noting that the cost of duplicative and conflicting regulations stemming…

Co-authors: John W. Gerstmayr, Thomas R. Hiller, Susan A. Johnston, Leigh R. Fraser, Gregory C. Davis.

U.S. District Court for the District of Massachusetts holds pharmaceutical companies not required to disclose FDA inspectional observations made on Form 483 *

USA - April 9 2012
In an important ruling dismissing a comprehensive securities class action complaint against Genzyme Corporation, the U.S. District Court for the District of Massachusetts held last week that regulatory comments and inspectional observations provided by the FDA to pharmaceutical companies like Genzyme – including commentary supplied on FDA Form 483 – are of “questionable materiality” and are not automatically required to be disclosed by regulated issuers.

Co-authors: Robert G. Jones.

Federal court rejects mutual fund prospectus liability claims: plaintiffs cannot prove causation because alleged misrepresentations have no effect on fund share price *

USA - April 1 2011
Applying reasoning that could sharply narrow the ability of plaintiffs' lawyers to bring prospectus liability claims against mutual funds and their advisers and directors, the United States District Court for the Southern District of New York on March 31, 2011 dismissed a class action complaint against State Street Corporation that alleged the SSgA Yield Plus Fund's prospectus misled investors about the Fund's "subprime" mortgage exposure in violation of Sections 11 and 12(a)(2) of the Securities Act of 1933.

Co-authors: Harvey J. Wolkoff, Robert A. Skinner .