A structured guide to damages and costs arising from securities litigation in the Netherlands
In 2014, Mathew Martoma, a former portfolio manager for S.A.C. Capital Advisors L.P. (SAC), was sentenced to nine years in federal prison for
On December 6, 2016, the United States Supreme Court decided Salman v. United States, the first significant insider trading case in
A federal judge sitting in New York but applying Maryland law recently held that a Directors and Officers (D&O) insurer is not required to provide insurance coverage because the policyholder breached the policy’s consent-to-settle provision when it settled a securities class action without obtaining the carrier’s prior approval.
On September 6, 2011, in In re Nokia ERISA Litigation (Case No. 1:10-cv-03306-GBD), the Southern District of New York dismissed a class action complaint alleging breach of fiduciary duty claims based on defendants’ decision to continue to offer Nokia Corp. stock as an investment option under Nokia’s retirement plan.
On August 25th, the Tenth Circuit addressed case splitting and Securities Act standing.
While he worked as VeriSign’s chief administrative officer, Grant Clark signed VeriSign’s nondisclosure agreement, which included a provision that he would not remove VeriSign’s confidential or privileged information and that he would return any such documents in his possession upon termination of his employment.
On June 29th, the Ninth Circuit held that an issuer's breach of a contractual promise of specific future conduct made in conjunction with SEC reporting requirements is not a sufficient foundation for a securities fraud action.
On May 17, 2011, Judge Stein of the Southern District of New York granted defendants' motion to dismiss with prejudice this consolidated shareholder derivative action against current and former Citigroup officers and directors.
The Securities and Exchange Commission ("SEC") and the Department of Justice ("DOJ") announced on March 29, 2011, that civil and criminal proceedings are being brought against Cheng Yi Liang, a chemist employed by the Food and Drug Administration ("FDA"), for alleged insider trading.