‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInIs SPAC-Related Legal Action About to Heat Up? | The D&O Diary
Anyone reading the business pages know that SPAC IPO activity continues to surge; indeed, we have not yet even officially completed 2021’s first quarter, yet the number of SPAC IPOs completed and the amount of funding raised have both already exceeded the totals for the full year 2020. As I have already noted in prior […]
SolarWinds stockholders begin documenting financial losses
A judge approved the merger of three separate class action lawsuits filed against SolarWinds over a 2020 hack and named a New York City pension fund as lead plaintiff as the organization laid out tens of thousands of dollars in stock losses that it claims resulted from the hack. On Jan. 4, 2021, shareholder Timothy […]
Tesla investor sues Elon Musk, claims tweets violate SEC settlement
Tesla chief executive Elon Musk and the board of the electric car company have been sued by a shareholder who accused Musk of violating his 2018 settlement with the Securities and Exchange Commission over his Twitter use. According to a complaint unsealed late Thursday in Delaware Chancery Court, Musk’s “erratic” tweets, including a post last May […]
Why A Surge Of COVID-19 Securities Suits Hasn’t Happened – Law360
But after 12 months, only about 25 proposed securities class actions tied to the pandemic remain active in federal courts, according to an analysis by Law360. Six of those have come in 2021, suggesting that the flow of such cases may continue, but not at the level some may have anticipated early on. “My sense […]
Biotech Firm Hit With COVID-19-Related Securities Suit | The D&O Diary
It has been nearly a year since the coronavirus outbreak in the U.S. first led to widespread closures and disruptions. Throughout that time, plaintiffs’ lawyers have continued to file securities class actions and other claims against companies affected by the pandemic. On February 12, 2021, in the latest of these COVID-19-related securities lawsuits, a plaintiff […]
NERA: 2020 Securities Suit Filings Down vs. 2019, But Above Long-Term Levels | The D&O Diary
Federal court securities class action lawsuit filings declined 22% in 2020 compared to 2019, but the 2020 filings were still above the long-term historical average annual numbers of filings, according to NERA Economic Consulting’s annual securities litigation report. The 2020 securities suit filing drop-off reflected a decline in the number of federal court merger objection […]
The Top Ten D&O Stories of 2020 | The D&O Diary
The directors’ and officers’ liability environment is always changing, but 2020 was a particularly eventful year, with important consequences for the D&O insurance marketplace. The past year’s many developments also have significant implications for what may lie ahead in 2021 – and possibly for years to come. I have set out below the Top Ten […]
Securities Suit Filings Declined in 2020 But Remained Above Historical Levels | The D&O Diary
The number of federal court securities class action lawsuit filings declined in 2020 relative to the most recent prior years, largely due to short-term filing lulls during the second and fourth quarters of the year. Though the number of filings last year was below the record-setting levels seen during the years 2017 to 2019, the […]
U.S. Supreme Court Agrees to Take Up Securities Suit Class Certification Issues | The D&O Diary
In the same December 11, 2020 Order in which it rejected the bid by the Texas Attorney General to overturn the results of the 2020 Presidential election, the U.S. Supreme Court also agreed to take up a case involving the effort of Goldman Sachs to overturn the certification of a class in the long-running securities […]
Guest Post: Event Driven Securities Litigation: The New Driver in Class Action Growth | The D&O Diary
Social and environmental disasters, such as the #MeToo movement, the Deepwater Horizon oil spill, the opioid crisis, data privacy breaches with a vast number of companies such as Yahoo! Inc., Equifax, Inc., are well covered events in the news. These events impact peoples’ lives and many perceive a correlation between these events and civil litigation […]