573 results found
Sheppard Mullin Richter & Hampton LLP | USA | 13 Jul 2018
New York Court of Appeals Rules that Civil Securities Fraud Claims Brought Under Martin Act are Subject to Three-Year Statute of Limitations
In People v. Credit Suisse Securities (USA) LLC, No. 40, 2018 WL 2899299 (N.Y. June 12, 2018), the Court of Appeals for the State of New York ruled
Orrick, Herrington & Sutcliffe LLP | USA | 15 Aug 2016
New York Intermediate Appellate Court Holds that Accrual Provision Does Not Save RMBS Trustee’s Time-Barred Putback Claim
On August 11, 2016, the First Department of the Appellate Division of the Supreme Court of the State of New York affirmed dismissal of an action
Baker & Hostetler LLP | USA, Ireland | 29 Jul 2016
2016 Mid-Year Securities Litigation and Enforcement Highlights
Welcome to the 2016 Mid-Year Report From the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose is to provide
Chadbourne & Parke LLP | USA | 20 Jun 2011
Court dismisses Securities Act claims against Countrywide based on statute of repose
In Footbridge Ltd. Trust v. Countrywide Fin. Corp., No. 10 Civ. 367 (PKC) (S.D.N.Y. 2011), the United States District Court for the Southern District of New York recently dismissed claims brought under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 on the grounds that the filing of a class action regarding the securities at issue did not toll the statute of repose for claims under that statute.
Paul Weiss | USA | 31 May 2011
New York bankruptcy court holds that Bankruptcy Code’s two-year extension of time to bring actions applies to foreign representatives in Chapter 15 cases
Section 108 of the Bankruptcy Code grants a two-year extension of time for a trustee in bankruptcy (or a debtor in possession) to bring law suits, provided that the applicable period to sue didn't expire before the petition date.
Winston & Strawn LLP | USA | 23 May 2011
Mortgage-backed securities lawsuit survives motions to dismiss
On May 19th, the Southern District Court of New York partially denied motions to dismiss a securities fraud case stemming from an offering of mortgage-backed securities.
Orrick, Herrington & Sutcliffe LLP | USA | 11 Apr 2011
S.D.N.Y. grants in part and denies in part motion to dismiss multiple actions against Wachovia
Investors in equity and debt securities of Wachovia brought four related actions against Wachovia and several related entities and individuals, Wachovia's underwriters and its auditors alleging claims under Section 10(b) of the '34 Act, and Rule 10b-5 thereunder, and Sections 11, 12(a)(2), and 15 of the '33 Act..
Dechert LLP | USA | 2 Feb 2011
New protection for whistleblowing once removed
Under the Sarbanes-Oxley Act of 2002, publicly traded companies are prohibited from retaliating or discriminating against employees who report or assist in the investigation of conduct which violates specified federal laws or SEC regulations.
Morgan Lewis | USA | 26 Jan 2011
Manhattan District Attorney promises broader use of the Martin Act in combating financial fraud and vows to fight for tougher penalties
In his first speech at the New York City Bar Association since his election, Manhattan District Attorney Cyrus R. Vance, Jr. said that he would expand his office’s use of the Martin Act, New York’s securities fraud statute, in targeting financial fraud, and that he would lobby lawmakers to toughen penalties under the measure and to extend the statute of limitations.
Mayer Brown | USA | 19 Jan 2011
Southern District of New York requires allegation of scienter in securities claims against Barclays Bank
In early January 2011, Judge Paul A. Crotty of the District Court for the Southern District of New York dismissed with prejudice a federal securities class action against Barclays, several of Barclays’ senior officers and a dozen other investment banks.