During a discussion on the state of securities litigation, a panel comprised of prominent securities litigators discussed trends in securities class actions and legislation that is on the horizon. Though the panel disagreed on whether the SEC would become more or less active under the new administration, they generally agreed that state Attorneys General likely would continue to take an active role in investigations. The panelists discussed different circumstances that, over time, have made securities class actions more difficult to resolve at an early stage in the litigation, including the introduction of institutional plaintiffs and the development of insurance coverage law. Two panelists predicted that upcoming Supreme Court decisions concerning investors' access to the courts would likely have a signficant impact on securities litigation, and two other panelists predicted that lawsuits filed abroad would be an emerging issue to watch. The panel also discussed issues that arise when there is a "mismatch" between the responsible persons and the persons with deep pockets who are in a position to fund a settlement, with two panelists opining that legislation addressing those issues (e.g. joint and several liabilty) would likely come to the forefront in the near future.
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Plus D&O symposium: morning session I
- Edwards Wildman Palmer LLP
- Brian Green, Victoria Anderson, Jeanne Kohler and M Machua Millett
- February 3 2010
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