Blog Archives

Supreme Court Update: 2013 Could Be a High-Water Mark for Class Action Developments

The 2012-13 Supreme Court term has been a hotbed of class action activity, with the justices set to decide at least half a dozen cases that will directly affect class action litigation. Although none of this term’s decisions is likely

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Supreme Court Rejects “Loss Causation” Requirement to Certify Securities Classes

Recent class action jurisprudence has been increasingly permissive toward courts considering the merits at the class certification stage. This week, however, the Supreme Court placed a firm limit on this practice, unanimously striking down a Fifth Circuit rule requiring securities

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Parties Reach Significant Class Action Settlement Regarding Claims Against Feeder Funds That Invested in Madoff’s Ponzi Scheme

Last month, parties involved in In Re Tremont Securities Law, State Law and Insurance Litigation sought preliminary court approval of a $100 million settlement that would resolve class action claims against certain investment funds (and numerous affiliated companies and individuals)

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The Second Circuit Issues An Important Decision Regarding The Scope Of The Bespeaks Caution Doctrine That Is Relevant For Any Company Making Public Statements

In Iowa Public Employees’ Retirement System v. MF Global, Ltd., the United States Court of Appeals for the Second Circuit made clear that the bespeaks caution doctrine applies to forward-looking statements only and not to characterizations that communicate present or

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BDO Siedman Investor Class Certification Denied – Third Circuit Rejects Fraud Created the Market Theory

In Malack v. BDO Seidman, LLP, the Third Circuit affirmed the district court’s denial of class certification in a putative securities class action and rejected the so-called “fraud-created-the-market” theory. The unanimous panel concluded that “[t]he fraud-created-the-market theory lacks a basis

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