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Join the Securities Litigation and Enforcement Group on LinkedInAkorn settles U.S. SEC claims stemming from financial restatement
Akorn Inc and two former executives have agreed to settle claims stemming from inaccurate financial statements the generic drugmaker issued in 2014 that it later needed to restate, the U.S. Securities and Exchange Commission on Monday said. via Akorn settles U.S. SEC claims stemming from financial restatement.
2017 Saw Dip in Securities Class Settlements | The American Lawyer
Following a banner year for high-dollar securities class action settlements in 2016, plaintiffs lawyers who represent investors in such cases had a less lucrative 2017, with settlement values and legal fees dropping to lows not seen in more than a decade, economic consulting firm NERA said in a new report. NERA Economic Consulting released its year-end review […]
N.Y. judge rejects ‘worthless’ disclosure-only deal in M&A class action
If you thought the New York state appeals court assured the future of the M&A plaintiffs’ bar last year when it bucked Delaware precedent and said shareholder lawyers deserve to be awarded fees for forcing defendants to cough up minimally useful new disclosures, you’d better read a new opinion by New York State Supreme Court […]
The Top 100 U.S. Settlements of All Time as of December 2017 – ISS
For calendar 2017, Securities Class Action Services LLC (“SCAS”) recorded 162 approved securities class action settlements, two of which are included in SCAS’ Top 100, which charts the largest U.S. class action settlements since passage of the Private Securities Litigation Reform Act of 1995. Collectively, 2017 delivered $2.1 billion in settlement funds for distribution…. via […]
Brazil’s Petrobras to settle US class action lawsuit over corruption
Brazil’s state-controlled oil company, Petroleo Brasileiro, said on Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors who claim they lost money as a result of a corruption scandal. Petrobras, as the company is known, denied any wrongdoing under the deal, which is one of the […]
SEC Commissioners Rejected Settlement With ITT Tech CEO | HuffPost
The U.S. Securities and Exchange Commission has rejected a proposed settlement of the SEC’s lawsuit against two former executives of the collapsed for-profit college company ITT Educational Services. In a court filing on August 11, SEC lawyers told the Court that “the Commission will not approve the proposed settlements” with former ITT CEO Kevin Modany […]
Slater and Gordon action goes to mediation – AAP
Thousands of out-of-pocket Slater and Gordon shareholders’ will split a $36.5 million settlement – just a fraction of the total value shed by the once high-flying law firm. “The settlement was the best outcome from a terrible situation for shareholders, given the diabolical alternative which meant likely insolvency for Slater and Gordon,” class action lawyers […]
Record Number of Settlements Added to Top 100 Securities Suits Settlement List in 2016 | The D&O Diary
Thirteen of the 100 all-time largest securities class action lawsuit settlements were finalized in 2016, the highest number of settlements during any one year period, according to a recent report from Institutional Shareholder Services (ISS). Two of the 2016 settlements among the top 100 were among the eleven largest of all times. The report, which […]
A Defiant Leon Cooperman Calls SEC ‘Abusive’ After Settlement — NewsMax
Billionaire hedge fund manager Leon Cooperman lambasted regulators as “abusive” after he settled his insider trading case with the U.S. Securities and Exchange Commission earlier this month. The founder of Omega Advisors told CNBC Tuesday that he would have won had the case gone to trial, but that he was advised to settle because the trial […]
Leon Cooperman pays $4.9 million to settle insider-trading suit | New York Post
Hedge-fund manager Leon Cooperman paid $4.9 million to settle insider-trading charges in an unusual deal with securities regulators in which he didn’t admit wrongdoing but agreed that his firm’s trades will be monitored for five years. The settlement between the Securities and Exchange Commission and Cooperman’s firm Omega Advisors ends standoff in which 74-year-old Cooperman […]