Daily Archives: October 15, 2008, 11:44 pm

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 the fraud on the market…

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Forbes: Financial Crisis Will Spawn “Next Great Mega-Litigation”

The current market turmoil will lead to the “next great mega-litigation,” a Forbes article predicts, “likely to rival the more than $12 billion spent cleaning up the Enron and WorldCom debacles.” “This is certainly a major litigation event,” Samuel Rudman of Coughlin, Stoia, Geller, Rudman & Robbins told Forbes. “There has already been a lot of lawsuits brought in connection…

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