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U.S. Securities Class Action Settlement Amounts Up 35% in 2009
Class action settlement amounts expected to continue to rise in 2010.
Quadrophobia: Study Suggests Companies Adjusting Financial Results Fractionally to Manage Earnings
Study shows companies tend to bump earnings by a 10th of a cent or two to let them round results up.
NERA Updates ‘Trends in Canadian Securities Class Actions’
Study finds 2009 filings in Canada remained above historical average filings.
Report: Corporate Governance Problems Still Common in Indian Companies
New report on corporate governance in India finds lingering problems.
Audit Integrity Lists Companies Most Likely to be Shareholder Litigation Defendants in 2009
Plaintiffs’ lawyers, put the following firms on your watch list: MetLife, Inc., Medtronic, Inc., Spectra Energy Corp., Hewlett-Packard Company, and Walgreen Company.
Audit Integrity, a financial research firm, announced today that out of the more than 7,500 publicly traded companies they rate in North America, the companies above were among the 60+ companies with the highest probability of being named as a defendant in shareholder litigation in 2009.
Carpenter Moore Study Finds Financial Services Cos. Now Pay Highest D&O Premiums
Carpenter Moore’s new “2008 Directors & Officers Liability Insurance Peer Benchmarking Report” finds that financial services companies now pay the highest average premiums for directors and officers (D&O) liability insurance, surpassing rates paid by life sciences and technology firms. Insurance Journal reports that this shift in D&O pricing trends accelerated in the fourth quarter of [...]
D&O Diary Introduces Running List of Stanford Group-Related Litigation
Securities class actions against R. Allen Stanford and the Stanford Financial Group continue to pile up, and you know what that means: The tireless Kevin LaCroix (pictured) of OakBridge Insurance Services is making another list. On Tuesday, LaCroix introduced a new list that he is maintaining at his tremendous D&O Diary blog of Stanford Group-related [...]
Advisen Ltd. Report Analyzes 2008 Securities Class Actions, Predicts Spread Beyond Financial Services Area in 2009
A new report released Wednesday by New York-based Advisen Ltd. finds that the number of securities class action suits filed in 2008 changed little from 2007. However, the report also find that changes in the industry and the economy may have other types of impact. Business Insurance reports that among other things, the report finds [...]
New Website Attempts to Project Share Price, Settlement Amount, Legal Fees and More for Securities Class Action Defendants
On the theory that the filing of securities class actions creates trading opportunities, a new website called “SCAEstimate.com” uses a database of 1000 past securities class action cases to provide reports on companies which have a securities lawsuit filed against them. The reports assess the odds on the company’s future share price and the cost [...]
Global IPO Numbers Anemic in Second Half of 2008
The ongoing financial crisis caused global IPO issuance to come to a near halt in mid-2008, and that steep decline has continued through the end of 2008. A December 2008 report from Renaissance Capital on the state of the global and US IPO market shows some stunningly weak numbers, including: Globally, the average new issue [...]