‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInNYSE firms more likely to commit financial fraud, study finds
Researchers from a trio of universities (Washington State, Pennsylvania State, and Miami) studied 250 companies involved in Securities and Exchange Commission fraud filings from 2005 to 2013, and found that Fortune 500 companies were much more likely to have cooked books. Researchers looked closely for predictors of fraud, and found four risk factors : Fortune […]
Stock Trades of SEC Employees — HLS Forum on Corp. Gov.
These results are indicative of SEC employees being either: (i) skilled investors, (ii) lucky investors, or (iii) privately informed. We cannot confirm that our results are driven by trades on non-public information. While we do observe some unusual trading patterns around certain SEC activity (e.g., trading prior to enforcement actions and after whistleblower tips), several […]
Despite Record Low Number of Settlements in 2012, Securities Class Action Settlement Amounts Increase from 2011
The 53 court-approved securities class action settlements reported in 2012 represent a 14-year low.
U.S. Securities Class Action Settlement Amounts Up 35% in 2009
Class action settlement amounts expected to continue to rise in 2010.
Quadrophobia: Study Suggests Companies Adjusting Financial Results Fractionally to Manage Earnings
Study shows companies tend to bump earnings by a 10th of a cent or two to let them round results up.
NERA Updates ‘Trends in Canadian Securities Class Actions’
Study finds 2009 filings in Canada remained above historical average filings.
Report: Corporate Governance Problems Still Common in Indian Companies
New report on corporate governance in India finds lingering problems.
Audit Integrity Lists Companies Most Likely to be Shareholder Litigation Defendants in 2009
Plaintiffs’ lawyers, put the following firms on your watch list: MetLife, Inc., Medtronic, Inc., Spectra Energy Corp., Hewlett-Packard Company, and Walgreen Company.
Audit Integrity, a financial research firm, announced today that out of the more than 7,500 publicly traded companies they rate in North America, the companies above were among the 60+ companies with the highest probability of being named as a defendant in shareholder litigation in 2009.
Carpenter Moore Study Finds Financial Services Cos. Now Pay Highest D&O Premiums
Carpenter Moore’s new “2008 Directors & Officers Liability Insurance Peer Benchmarking Report” finds that financial services companies now pay the highest average premiums for directors and officers (D&O) liability insurance, surpassing rates paid by life sciences and technology firms. Insurance Journal reports that this shift in D&O pricing trends accelerated in the fourth quarter of […]
D&O Diary Introduces Running List of Stanford Group-Related Litigation
Securities class actions against R. Allen Stanford and the Stanford Financial Group continue to pile up, and you know what that means: The tireless Kevin LaCroix (pictured) of OakBridge Insurance Services is making another list. On Tuesday, LaCroix introduced a new list that he is maintaining at his tremendous D&O Diary blog of Stanford Group-related […]