Daily Archives: May 3, 2017, 5:11 pm

Who is Winning the Securities Class Action War—Plaintiffs or Defendants? | D&O Law Blog

Defendants win a lot of battles.  The Private Securities Litigation Reform Act of 1995 was an enormous victory for the defense bar, imposing high pleading burdens on plaintiffs and establishing a safe harbor for forward-looking statements that, in Bill Lerach’s famous words, gives defendants “license to lie.”  The rate of dismissal is markedly higher than the dismissal rate in other…

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Senate confirms Wall Street lawyer Jay Clayton to lead SEC – The Washington Post

The Senate on Tuesday confirmed the nomination of Jay Clayton, a Wall Street lawyer with decades of experience helping companies to weather regulatory scrutiny, to lead the Securities and Exchange Commission. As chairman of the SEC, Clayton will police many of the same large banks that he has spent decades representing, including Goldman Sachs and Barclays. He also would play a key…

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