Here is the weekly summary for Securities Docket’s Web Watch (”This Week’s Best Blog Posts and Columns”):
- HARVARD LAW SCHOOL FORUM ON CORP GOV (May 22, 2009): Securities Litigation and the Housing Market Downturn
The issue of when the housing market downturn was foreseen by the market is legally central to much of the securities litigation that has been filed. - SIMPLE JUSTICE (May 22, 2009): Smile When You Perp Walk
The perp walk is one of those horrible anachronisms that has served well these many years to do as much damage to the defendant’s image and reputation as possible. That our government does it, sanctions it, perpetuates it, is outrageous. - THE D&O DIARY (May 22, 2009): Latest Securities Suit Target: Trust Preferred Securities
In the past several weeks, plaintiffs’ lawyers have filed several securities class action lawsuits involving banks’ “trust preferred securities.” These hybrid securities are particularly sensitive to the current financial turmoil. - THE MARKET TICKER (May 20, 2009): WHERE ARE THE DAMN COPS
The chart of trading in Bank of America stock makes it clear that “someone” (or a handful of someones) knew of its secondary stock offering before the market closed. - ANDREW LONGSTRETH, AMLAW LITIGATION DAILY (May 19, 2009): Supreme Court Detainee Case May Affect Securities Class Actions
The Supreme Court’s decision in a detainee case (Ashcroft et al. v. Iqbal et al.) could have an unintended but particularly strong impact on “fraud-by-hindsight” securities clas actions. - KARA SCANNELL, WSJ (May 19, 2009): The SEC’s Kotz, Watching the Watchdog
If Mr. Kotz’s questions about insider trading by SEC lawyers prove well-found, he will be at the center of another embarrassing agency scandal. Mr. Kotz’s view of the probe is typical: “You can’t blame me for making the SEC look bad.” - RE: BALANCE (May 18, 2009): Which Large Accounting Firm Will Be “Next to Fail”? It’s the Wrong Question
“Next to fail?” is the wrong question for the Big Four accounting firms. They are already down to an irreducible tipping point. One more, and they all go. - THECORPORATECOUNSEL.NET (May 18, 2009): Allegations about Insider Trading Within the SEC
Just because a cop turns “bad” doesn’t mean the entire department is bad. But these are not normal times and the SEC is under heavy fire, so some serious damage control is required and fast.
