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 29, 2009): Institutional Monitoring Through Shareholder Litigation
Paper finding that securities class actions with institutional owners as lead plaintiffs are less likely to be dismissed and have larger monetary settlements than class actions with individual lead plaintiffs. - THE D&O DIARY (May 29, 2009): Judge Explains Lead Plaintiff Selection, Addresses Conflict Question
On May 26, 2009, Judge Rakoff ruled on a lead plaintiff motion with an order that included some interesting comments and observations about the two competing plaintiffs and their relations to their counsel. - DIANA B. HENRIQUES, NYT (May 29, 2009): It’s Thankless, but He Decides Madoff Claims
The Ponzi scheme’s victims denounce him as cold-hearted, dishonest and just plain wrong. No, they are not describing Bernard L. Madoff, the author of the fraud that has ruined their lives. They are criticizing trustee Irving H. Picard. - HEATHER TIMMONS, NYT (May 28, 2009): For Satyam Auditors, an Ordeal Before Trial
Behind the hulking, metal-studded front door of Hyderabad’s Central Prison live more than 900 men being held in connection with crimes ranging from pick- pocketing to murder. And then there are the two accountants. - HARVARD LAW SCHOOL FORUM ON CORP GOV (May 26, 2009): Financial Markets in Crisis: A 9/11-Style Commission
An update on Congress’ expected creation of an independent commission to examine the domestic and global causes of the current U.S. financial and economic crisis. - RE: BALANCE (May 26, 2009): The Supreme Court Targets the PCAOB: If Things Could Hardly Be Worse, Might They Perhaps Get Better?
The easiest signal of the high court’s acceptance of the PCAOB’s legitimacy would have been to leave standing the lower courts’ orders. So it is a decent prediction that some time in next year’s term, the axe will fall. And then? - WSJ LAW BLOG (May 26, 2009): Conrad Black, the Supreme Court, and Honest Services Fraud
Unlike honest services cases involving public officials, private mail and wire fraud prosecutions raise sticky issues as to exactly what constitutes the dishonesty required for a conviction. - SEC ACTIONS (May 26, 2009): Remaking The SEC For Tomorrow
What the SEC needs is not to be merged into the CFTC – a shop-worn idea that has kicked around for years and failed because it is a bad idea. Nor should it be stripped of its role in favor of creating some new agency – starting over always seems appealing
