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Join the Securities Litigation and Enforcement Group on LinkedInAgainst Being Against the Revolving Door — CLS Blue Sky Blog
I have argued, in an article in the Illinois Law Review, and in an op-ed for the New York Times/DealBook, that the perils of the revolving door, whereby lawyers move in and out of government service whilst many wring their hands about it, are overstated. In this post, I want to defend that argument mostly […]
Investors, Bank Near Pact in Madoff Cases – WSJ.com
In one of the first lawsuits to go to trial involving Bernard L. Madoff’s massive fraud, a group of investors is nearing a settlement with a Connecticut bank that they said should have uncovered the Ponzi scheme years before it collapsed, according to a lawyer involved in the cases whose clients aren’t settling. The tentative […]
The Confidential Witness Problem in Securities Litigation — The D & O Diary
In an unusual July 9, 2013 post-settlement order in the Lockheed Martin securities class action lawsuit, Southern District of New York Jed Rakoff examines the role of confidential witness-based allegations, both in the Lockheed case itself and in securities cases in general. As is clear from Judge Rakoff’s memorandum, the plaintiffs’ reliance on confidential witness […]
The SEC’s Low Burden of Proof – WSJ
Here’s a modest proposal: When a federal law-enforcement agency sets out to punish a private citizen or business based on accusations of fraud or similar wrongdoing, it should have to prove its case by more than just a preponderance of the evidence. While proof beyond reasonable doubt may be too high a hurdle in nominally […]
Securities Docket News Wire for July 14, 2013
Get caught up with the Securities Docket News Wire for July 14, 2013.