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Results: 1-10 of 63

Backdating claims dismissed where plaintiffs could not plead demand futility as to board in place at the time of the filing of the amended complaint

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 18 2008

In a shareholder derivative action, the plaintiff-shareholder is not permitted to pursue claims on behalf of the corporation without first making a demand on the company’s board of directors or pleading with particularity that such a demand should be excused as futile

How hedge funds and private equity firms can manage Foreign Corrupt Practices Act risks

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 27 2013

In recent years, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have aggressively investigated and enforced both

FinCEN proposes enhanced customer due diligence requirements for financial institutions

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 8 2014

On July 30, 2014, the Financial Crimes Enforcement Network (FinCEN) issued proposed rules under the Bank Secrecy Act (BSA) to strengthen customer due

SEC’s new policy requiring admissions of wrongdoing: implications for FCPA settlements?

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 30 2013

On August 19, 2013, the SEC entered into a settlement agreement with Phillip Falcone and his advisory firm, Harbinger Capital Partners, based on

Three former employees of direct access partners plead guilty to FCPA and related charges

  • Alston & Bird LLP
  • -
  • USA
  • -
  • September 9 2013

On August 30, the Justice Department announced that three former employees of a New York-based broker-dealer, Direct Access Partners (DAP), entered

Supreme Court of the United States analyzes standard for statute of limitations for securities fraud actions

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 12 2010

The Supreme Court of the United States recently issued a decision regarding application of the statute of limitations for securities fraud actions

Stoneridge prevents certification of claims against law firm

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 27 2008

While several courts have applied the Supreme Court’s decision on secondary actor liability in Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc., 128 S. Ct. 761 (2008), to motions for dismissal or summary judgment, a recent opinion from the Eastern District of Pennsylvania demonstrates that this decision can also be useful to defendants facing motions to certify a class

California victory for subprime lender in shareholder suit alleging systemic loan fraud

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 23 2009

On March 9, U.S. District Court Judge Andrew Guilford dismissed with prejudice a securities fraud complaint against Impac Mortgage Holdings, Inc., an Orange County lender that specialized in “low documentation loans.”

The Supreme Court to revisit the “fraud-on-the-market” presumption

  • Alston & Bird LLP
  • -
  • USA
  • -
  • June 28 2012

In 1988, in Basic Inc. v. Levinson, the Supreme Court first recognized that investors seeking to pursue claims under Section 10(b) of the Securities Exchange Act of 1934 may invoke in an appropriate case a rebuttable presumption of reliance based on the “fraud-on-the-market” theory

Supreme Court to clarify “inquiry notice” standard for securities fraud statute of limitations

  • Alston & Bird LLP
  • -
  • USA
  • -
  • July 7 2009

Last month, the Supreme Court granted certiorari to clarify the much-litigated issue of when plaintiffs are deemed to have "inquiry notice" of their claims sufficient to trigger running of the statute of limitations for federal securities fraud claims