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Results: 1-10 of 319

Court denies motion to dismiss securities fraud claims
  • Katten Muchin Rosenman LLP
  • USA
  • June 15 2007

A securities fraud action was brought on behalf of all persons who purchased or acquired the common stock of Jarden Corp., a consumer products company, between June 29, 2005 and January 11, 2006


Supreme Court vacates Seventh Circuit securities fraud decision
  • Katten Muchin Rosenman LLP
  • USA
  • June 29 2007

In an important decision concerning the standard for pleading scienter in securities fraud cases, the Supreme Court vacated a decision by the Seventh Circuit Court of Appeals, and ruled that the Private Securities Litigation Reform Act (PSLRA) requires courts to consider plausible competing inferences in determining whether a plaintiff has alleged facts sufficient to give rise to the “strong inference” of scienter that Congress mandated in the PSLRA


Mere mention of federal securities laws does not support federal jurisdiction
  • Katten Muchin Rosenman LLP
  • USA
  • June 22 2007

Claims that defendants engaged in fraudulent or deceitful practices in connection with the sale of certain debentures, based entirely on state law, referred, in one paragraph, to violations of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisors Act of 1940


Plaintiff failed adequately to plead securities fraud claims
  • Katten Muchin Rosenman LLP
  • USA
  • July 20 2007

The plaintiff corporation alleged that defendant investors made material misrepresentations in connection with their purchase of convertible preferred stock from plaintiff in violation of Rule 10b-5 and, thereafter, engaged in illegal market manipulation


Plaintiff did not plead securities fraud claim with scienter
  • Katten Muchin Rosenman LLP
  • USA
  • July 13 2007

In one of the first decisions to apply the Supreme Court’s Tellabs, Inc. v. Makor Issues & Right, Ltd. decision, a Missouri district court dismissed a securities fraud class action lawsuit filed against a corporation and its management


Securities fraud claims asserted by foreign purchasers dismissed
  • Katten Muchin Rosenman LLP
  • USA
  • August 3 2007

Plaintiffs sought to certify a class of purchasers of securities of an Italian company who asserted claims under the Securities Exchange Act after the company collapsed following the discovery of massive fraud


Securities fraud claims dismissed because defendant had no duty to disclose
  • Katten Muchin Rosenman LLP
  • USA
  • August 3 2007

The seller of a convertible note sued the issuer-purchaser under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, claiming that the issuer committed fraud by repurchasing the note at a negotiated discount price without revealing its plan to raise funds through a new private placement to fund the redemption of all outstanding convertible notes at a premium price


“Scheme liability” theory advocated before U.S. Supreme Court
  • Katten Muchin Rosenman LLP
  • USA
  • July 20 2007

Three former commissioners of the Securities and Exchange Commission, William Donaldson, Harvey Goldschmid and Arthur Levitt filed an amicus brief with the U.S. Supreme Court in the matter of Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc., et al., case number 06-43, advocating a theory of “scheme liability” for companies that engage in transactions that facilitate securities fraud by another issuer, in this case a cable television company, Charter Communications, Inc. that paid additional fees to cable box vendors in exchange for agreements by such vendors to buy advertising from the company, allegedly permitting it to overstate revenues and defraud shareholders


District Court denies motion to lift stay of discovery
  • Katten Muchin Rosenman LLP
  • USA
  • July 27 2007

Denying plaintiffs’ motion to lift the statutory stay on discovery mandated by the Private Securities Litigation Reform Act (PSLRA) pending resolution of a motion to dismiss securities fraud claims, the United States District Court for the Southern District of New York held that plaintiffs failed to identify “unique circumstances” that would permit the court to grant such relief


SEC may bring control person liability claim without joining primary violator
  • Katten Muchin Rosenman LLP
  • USA
  • August 17 2007

The Securities and Exchange Commission brought a securities fraud action against former senior officers of iGo Corporation who allegedly engaged in fraudulent accounting practices and aided and abetted iGo’s violations of 13(a) of the Securities Exchange Act of 1934