Daily Archives: June 6, 2017, 3:27 pm

Lead Plaintiffs and Their Lawyers: Mission Accomplished, or More to Be Done? by Stephen J. Choi, Adam C. Pritchard :: SSRN

This chapter, written for the Research Handbook on Shareholder Litigation, surveys empirical work studying the lead plaintiff provision of the Private Securities Litigation Reform Act (PSLRA). That work finds that the lead plaintiff provision has encouraged institutional investors to participate in securities class actions, and that those institutional investors have negotiated lower attorneys’ fees. Those benefits from the lead plaintiff…

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Clayton team signals rethink for SEC enforcement — FT

Ms White and Andrew Ceresney, her enforcement chief, touted record case numbers as a measure of clean markets. In fiscal 2016, the commission brought 868 civil cases, up more than 28 per cent from three years earlier. Ms White also lodged a series of “first-of-their-kind” actions against private equity advisers and public finance officials, reflecting what she labelled a “bold…

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SEC v. Kokesh — Securities Law Prof Blog

The Supreme Court of the United States has handed down a unanimous opinion authored by Justice Sonia Sotomayor in SEC v. Kokesh.  At issue was the statute of limitations in disgorgement actions by the SEC.  The Court held “Because SEC disgorgement operates as a penalty . . . , any claim for disgorgement in an SEC enforcement action must be commenced…

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Challenges to Insider Trading Convictions Take Aim at Evidence – The New York Times

We are used to watching television programs about cases being solved by DNA evidence, a fingerprint or even a timely confession. White-collar crime is often quite different, resembling more a thousand-piece puzzle than a whodunit as prosecutors try to put together tidbits of information that can add up to a conviction. Still, a single piece of evidence can play a…

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