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Changes in securities & insurance regulation affecting enforcement strategies ALI-ABA conference on insurance & financial services litigation

Edwards Wildman Palmer LLP
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USA
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July 19 2010

Speakers at the ALI-ABA's annual conference on insurance and financial services regulation in Chicago offered extensive commentary on changes in enforcement strategies for insurance and securities fraud, in light of recent overhauls to the regulatory scheme

SDFL judge finds for Wachovia in unique auction rate securities suit

Edwards Wildman Palmer LLP
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USA
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May 18 2010

A federal judge in the United States District Court for the Southern District of Florida recently issued findings of fact and conclusions of law following a bench trial in favor of Wachovia in a suit brought by investors who were unable to liquidate certain Auction Rate Securities ("ARS") originally purchased through Wachovia

Supreme Court upholds Gartenberg test for mutual funds’ compensation of investment advisers

Edwards Wildman Palmer LLP
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USA
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May 5 2010

The Supreme Court recently issued an important decision regarding the test for determining whether an investment adviser has violated its "fiduciary duty" to a mutual fund by charging excessive fees under 36(b) of the Investment Company Act of 1940

Second Circuit allows securities fraud claim alleging misrepresentations regarding nature, but not amount, of mutual fund’s fees

Edwards Wildman Palmer LLP
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USA
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April 27 2010

The Second Circuit recently overturned the Southern District of New York’s dismissal of a claim under 10(b) Securities Exchange Act of 1934 relating to management fees charged to a mutual fund in Operating Local 649 Annuity Trust Fund v. Smith Barney Fund Management LLC

Cornerstone’s review and analysis of 2009 securities class action settlements

Edwards Wildman Palmer LLP
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USA
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March 29 2010

Cornerstone Research released its report on its review and analysis of 2009's securities class action settlements

District of New Jersey dismisses securities fraud claims against company that suffered data breach

Edwards Wildman Palmer LLP
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USA
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March 29 2010

Late last year, the United States District Court for the District of New Jersey dismissed a securities fraud litigation that had been brought against a payment card processor in connection with the theft, by cybercriminals, of credit and debit card information from the company's computer system

Two more dismissals of Securities Act lawsuits against rating agencies

Edwards Wildman Palmer LLP
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USA
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February 19 2010

Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York granted McGraw Hill and Moody's (together, the "Ratings Agencies") motions to dismiss in both Tsereteli v. Residential Asset Securitization Trust 2006-A8 et al. and In re: IndyMac Securities Litigation - but without issuing detailed written opinions

Plus D&O symposium: morning session I

Edwards Wildman Palmer LLP
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USA
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February 3 2010

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

Broadcom settles options backdating securities class action

Edwards Wildman Palmer LLP
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USA
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January 4 2010

On December 29, 2009, Broadcom announced that it had agreed in principle to pay $160.5 million to settle a securities class action pending in United States District Court for the Central District of California against the company and certain of its current and former officers and directors

Former Tyco director settles with pension fund in opt-out action

Edwards Wildman Palmer LLP
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USA
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January 4 2010

In 2002, Tyco became embroiled in a well-publicized scandal arising out of alleged corporate looting by the company’s top management

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