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Results: 1-10 of 4,712

Establishing common issues of loss causation not required to certify class

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 4 2008

Granting plaintiffs’ motion for class certification in a securities fraud action, a federal district court held, among other things, that for purposes of their motion plaintiffs did not have to demonstrate common issues of loss causation

Fifth Circuit panel reverses class certification in 401(k) stock drop litigation

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 7 2007

On January 18, 2007, the Fifth Circuit Court of Appeals reversed the Eastern District of Texas’ certification of a class action against Electronic Data Systems, Corp. (“EDS”) in a 401(k) employer stock ERISA litigation

Securities claims dismissed for failure to satisfactorily plead scienter

  • Katten Muchin Rosenman LLP
  • -
  • South Africa
  • -
  • February 9 2007

Plaintiffs’ federal securities law class action complaint alleged that defendant, a mining company, made false and misleading statements in press releases and quarterly statements concerning the viability of the restructuring of its North West Operations (NWO) in South Africa, which accounted for a significant part of its business

Counter claimant unable to pierce corporate veil

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 2 2007

Plaintiff corporation (ENI), the owner and publisher of a nutritional newsletter and related trademark, entered into an Asset Purchase Agreement providing for Defendant’s purchase of ENI’s assets, including all of its rights in and to the newsletter and trademark

Federal court dismissed securities fraud claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 4 2008

Dismissing plaintiff corporation’s securities fraud action, a district court held, among other things, that plaintiff failed to plead scienter with the particularity required by the Private Securities Litigation Reform Act (PSLRA

Court oks pre-effective shorting of PIPE shares

  • Lowenstein Sandler PC
  • -
  • USA
  • -
  • January 7 2008

Yesterday, Judge Sidney Stein of the United Stated District Court for the Southern District of New York handed the SEC a significant defeat, ruling in Securities and Exchange Commission v. Lyon (“Gryphon Partners”) that a PIPE investor did not violate Section 5 of the Securities Act of 1933, as amended (the “Act”), by shorting shares purchased in the PIPE and then covering the short sales with the PIPE shares once a resale registration statement had been declared effective

Secondary market civil liability arrives in Quebec

  • Stikeman Elliott LLP
  • -
  • Canada
  • -
  • December 31 2007

Amendments to the Securities Act (Quebec) introduce secondary market civil liability regime similar to that of Ontario

"Literally true" statement in a prospectus can still support a federal securities claim if, in context, the statement is materially misleading

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • January 7 2008

In Miller v. Thane Int’l, Inc., 2007 WL 4147327 (9th Cir. Nov. 26, 2007), the Ninth Circuit held that even “literally true” statements in a prospectus may be actionable under Section 12(a) of the Securities Act of 1933 and, for the first time in the Ninth Circuit, held that a representation by a company that it would be listed on NASDAQ is material to investors

Absent class member not entitled to privileged work-product of lead counsel

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 2 2008

By Order dated December 27, 2007 a New York appeals court rejected an absent class member's bid to obtain the work product of lead counsel in the CA Inc. securities class action

Class action securities claims not removable to federal courts

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 9 2007

The District Court granted plaintiffs’ motion to remand two class actions which were removed to federal court by defendants, two mutual funds and their manager, pursuant to the Securities Litigation Uniform Standards Act of 1998 (SLUSA

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