‘Enforcement 40’ for 2020
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By Securities Docket on April 2, 2018, 10:46 am
Defendants aren’t supposed to pick a dog in the lead counsel fight. Sure, if there are parallel cases in different jurisdictions they can manipulate the outcome by negotiating a settlement with one set of plaintiffs’ lawyers instead of another, effectively preempting the lead counsel selection process. But I can’t remember ever seeing a defendant in […]
By Securities Docket on June 6, 2017, 3:27 pm
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 […]
By Securities Docket on December 7, 2012, 11:56 am
Law firms Bernstein Litowitz Berger & Grossmann and Labaton Sucharow named as lead counsel.
By Securities Docket on March 22, 2012, 1:06 pm
Court denies motion arguing MissPERS exceeded statutory limit for lead counsel appointments.
By Securities Docket on February 10, 2012, 8:32 pm
Competing lead plaintiff says fund has been a lead plaintiff in “as many as 16” cases in the last three years.
By Securities Docket on September 23, 2011, 2:09 pm
“Phantom” lead plaintiff never actually purchased any of the securities at issue in the case.
By Securities Docket on June 23, 2010, 2:17 pm
NY State Common Retirement Fund held 19 million shares of BP.
By Securities Docket on January 18, 2010, 2:37 pm
Galleon dismissed and replaced as lead plaintiff.
By Securities Docket on October 23, 2009, 10:09 am
Galleon Management had been recently affirmed as lead plaintiff in Herley case.
By Securities Docket on September 9, 2009, 12:22 pm
Court also appoints Third Avenue Institutional International Value Fund LP as lead plaintiff.