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Article

Orrick, Herrington & Sutcliffe LLP | USA | 8 Oct 2010

Derivative claims against Ernst & Young LLP and KPMG LLP dismissed in Computer Associates Derivative Litigation

On September 29, 2010, in the Computer Associates International Derivative Litigation, Judge Thomas C. Platt of the U.S. District Court for the Eastern District of New York granted a motion to dismiss derivative claims asserted against Ernst & Young LLP ("E&Y") and KPMG LLP ("KMPG"), the former and current auditors of Computer Associates ("CA").

Article

Dechert LLP | USA | 7 May 2010

Second Circuit rules securities fraud claim of mutual fund shareholders relating to affiliated transfer agent arrangements may proceed, but upholds dismissal of breach of fiduciary duty claim

A two-judge panel of the U.S. Court of Appeals for the Second Circuit (the “Court”) on February 16, 2010 vacated the dismissal of a putative class action securities fraud claim brought by shareholders of the Smith Barney family of funds (the “Funds”) under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and remanded the case to the district court.

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