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Supreme Court to Review Fraud on the Market Presumption
It is difficult to understate the effect on class actions of Basic Inc. v. Levinson, 485 U.S. 224 (1988), which the Supreme Court decided in 1988. It is virtually impossible to demonstrate “reliance” –...
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Do Investors Benefit from Securities Fraud Class Actions?
A recent study from the U.S. Chamber Institute for Legal Reform (ILR) answers this question with a resounding NO. The ILR study joins mounting academic criticism of the claim by plaintiffs’ attorneys...
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Supreme Court Upholds Fraud on the Market Presumption
Early in May, we reported on the Supreme Court’s review of the Basic v. Levinson presumption of reliance in securities fraud cases. In an opinion today by Justice Roberts, the Court declined the...
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Trends in Shareholder Class Actions Challenging Corporate Mergers
In two recent studies of shareholder class actions over corporate mergers, the authors reached conclusions consistent with our experience with such cases in North Carolina: that nearly every...
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Multiple Studies Show Increase in Securities Class Actions
Recent studies by PricewaterhouseCoopers, NERA Economic Consulting, Cornerstone, and Kevin LaCroix of D&O Diary have all found that federal securities class actions are on the rise. According to...
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Securities Class Actions Continue To Rise
Earlier this year, we reported that Multiple Studies Show Increase in Securities Class Actions. Cornerstone Research, one of the groups covered in our earlier report, recently issued its 2016 Midyear...
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Is an Institutional Investor Subject to the PSLRA’s “Professional Plaintiff”...
The Private Securities Litigation Reform Act (“PSLRA”) establishes special rules in securities class actions. One such rule, found in 15 U.S.C. Sect. 78u-4(a)(3)(B)(vi) and known as the “Five-in-Three...
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