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Manhattan Institute Finds La. Pension Funds Most Active Lead Plaintiffs in Securities Cases
The Manhattan Institute’s Center for Legal Policy has a new report out about litigation in the state of Louisiana, and as usual it pulls no punches. According to an updated report in the CLP’s Trial Lawyers Inc. series entitled “Louisiana Litigators: While People Leave the Pelican State, Attorneys Thrive,” while Louisiana continues to lose residents, [...]
The D&O Diary Creates Running List of Madoff Investor and Feeder Fund Litigation
Q: What’s better than creating and maintaining a running list of all Madoff-related investor and feeder fund lawsuits (which we had on our lengthy to-do list)? A: Having someone else do it! Thank you to Kevin LaCroix of the D&O Diary for introducing today “The List: Madoff Investor and Feeder Fund Litigation,” a table of [...]
Skadden Heads List of Top 50 Litigation Practices by Revenue
The Lawyer has released its rankings of the 50 largest litigation practices at the leading US and UK-headquartered firms. The rankings measure litigation revenue overall, as well as Revenue Per Lawyer and Revenue Per Partner. Skadden Arps Slate Meagher & Flom tops the table for overall revenue from litigation (litigation, arbitration and disputes), generating more [...]
Video: Deloitte’s “A Discussion About Fraud and Bankruptcy”
Deloitte’s video entitled “A Discussion About Fraud and Bankruptcy” that accompanied the report discussed here earlier finding that bankrupt companies are three times more likely to be the subject of an SEC Enforcement action.
Deloitte Study Shows Bankrupt Companies Three Times More Likely to be Subject of SEC Enforcement Action
A new study released today from Deloitte Financial Advisory Services shows that bankrupt companies are three times more likely to have been the subject of SEC enforcement actions. The study tracked companies with annual revenues of more than $100 million, and compared 519 bankrupt companies to a group of 2,919 non-bankrupt companies from about 2000 [...]
Lloyd’s Of London Warns Class Actions, Forum Shopping on Rise in Europe
Lloyd’s of London warns that class actions, forum shopping and third-party funding of litigation are on the increase in Europe and the United States. The warning comes in its latest report, “Litigation and Business: Transatlantic Trends.” As discussed in Business Insurance News, the Lloyd’s report claims that the risk to business of mass litigation is [...]
Insider Trades by Females Less than Half as Profitable As Trades by Men
Finance professors at the University of Michigan have found that female executives and board members who buy or sell their own companies’ shares based on nonpublic information get less than half the benefit that men in similar positions gain when they risk insider trades. The professors studied 700,000 insider trades over a period of 20 [...]
Prof. Adam Pritchard: Reforming Securities Class Actions Via Shareholder Proposal
Last month, Adam Pritchard, a Professor at the University of Michigan Law School, published a paper in the Cato Supreme Court Review that proposes a way for shareholders of public corporations to “fix” what he calls the mistake of Basic v. Levinson through a shareholder proposal. Basic is the U.S. Supreme Court case that established [...]
Stanford Law School’s “Global Class Actions Exchange”
Stanford Law School’s Securities Class Action Clearinghouse is well-known and for years has been an extremely useful information tool for anyone needing detailed information about securities class actions. Less known, however, is a new website by Stanford Law School called the “Global Class Actions Exchange.” The GCAE contains detailed memoranda from attorneys and scholars from [...]
Financial Crisis Fueling Securities Class Actions, Higher Average Losses in Cases
“When you’re a securities litigator, whether you’re on the defense side or the plaintiffs side, bad markets are good for business. That’s just a fact of the matter,” said attorney Brett Sherman, who represents nearly a dozen former Bear Stearns employees who plan to sue the company over losses to their now-deflated stock options. The [...]