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Results: 1-10 of 194

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

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

“Storm warnings” triggered running of statute of limitations

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 23 2007

Former employees of a private company that merged with defendant company brought securities fraud claims under 10(b) of the Securities and Exchange Act and Rule 10b-5 against defendant company and its principals after steep share value declines followed certain company statements, announcements and filings between February 2001 and January 2005

Federal court dismisses RICO claim

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 16 2007

The District Court for the Southern District of New York dismissed a RICO conspiracy claim against defendants because plaintiff failed to allege an agreement to commit the predicate acts in furtherance of a RICO violation, which the Court stated was “the most basic element of a RICO conspiracy claim.”

SEC supports heightened standards governing investors’ claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • February 16 2007

In an amicus curiae brief, the Securities and Exchange Commission urged the Supreme Court to vacate the Seventh Circuit’s decision in Makor Issues & Rights, Ltd. v. Tellabs, Inc., 437 F.3d 588 (7th Cir. 2006), on grounds that the Circuit Court misinterpreted the heightened pleading standards governing securities fraud claims imposed by the Private Securities Litigation Reform Act (PSLRA

Plaintiffs sufficiently alleged pattern of racketeering activity

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

The Fifth Circuit held that plaintiffs’ allegations brought under the Racketeer Influenced And Corrupt Organizations statute (RICO) sufficiently pleaded a pattern of racketeering activity

FSA takes bankruptcy proceedings against UK lawyer

  • Katten Muchin Rosenman LLP
  • -
  • United Kingdom
  • -
  • March 30 2007

In proceedings commenced by the Financial Services Authority (FSA), the UK High Court ruled in December 2004 that Adrian Sam & Co (ASC) and John Martin, one of ASC’s two partners, were knowingly involved in the UK activities of an illegal overseas investment firm (a boiler room) and they were ordered to pay £360,000 (approximately $700,000) to 63 investors involved in the boiler room scam

Supreme Court holds third party suppliers were not liable under Section 10(b)

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 18 2008

In a highly anticipated decision, the United States Supreme Court affirmed the decision of the Eighth Circuit dismissing claims under Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 against two third party customersuppliers of an issuer who materially misrepresented its financial performance

No control person liability pursuant to terms of merger agreement

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 11 2008

The U.S. Court of Appeals for the Fourth Circuit, in an “unpublished” decision (which is not binding precedent under the Court’s rules), affirmed the dismissal of state law securities and fraud claims brought by Sherwood Brands, Inc. against a candy cane manufacturer’s (Asher) Chairman and his sister, who was Asher’s majority shareholder, over a failed merger and acquisition deal

Seventh Circuit finds “strong inference” of scienter after Tellabs remand

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 25 2008

The United States Supreme Court remanded plaintiffs’ securities fraud action to the Seventh Circuit following the issuance of its landmark ruling in Tellabs regarding the allegations needed to satisfy the “strong inference” of scienter requirement of the Private Securities Litigation Reform Act in order to withstand a motion to dismiss claims under Securities Exchange Act Section 10(b) and Rule 10b-5

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