Securities Law Updates

Featured Expert Legal Commentary

PIMCO v. Mayer Brown: Adopting the “Attribution” Standard for Secondary Actors

By Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP

The Second Circuit has held that secondary actors can be held liable for Rule 10b-5 damages actions only for false statements attributed directly to the secondary actor at the time of their dissemination. In Pacific Investment Management Co. v. Mayer Brown, 603 F.3d 144 (2nd Cir. 2010), the Court of… More...

More Securities Law Updates

Sort by:
Page 1 of 4 of Securities Law Commentaries
 1 2 3 >  Last »

Merck & Co. v. Reynolds: Statute of Limitations for Securities Fraud Begins to Run When Plaintiff Receives Evidence of Scienter

Merck & Co. v. Reynolds  |  June 30, 2010

The U.S. Supreme Court has held that the statute of limitations set forth in 28 U.S.C. section 1658(b)(1) begins to run once the reasonable investor/plaintiff discovers the facts constituting the elements of the violation, including scienter. In Merck & Co. v. Reynolds, ___ U.S. ____, 130 S.Ct. More...

Jones v. Harris: Gartenberg Is the Proper Standard to Assess Whether Advisor Fees Are Excessive

Jones v. Harris Associates  |  May 21, 2010

The Supreme Court of the United States has embraced the Gartenberg standard for analyzing claims of excessive fund advisory fees under section 36(b) of the Investment Company Act of 1940. The Court’s unanimous opinion in Jones v. Harris Associates, ___ U.S. _____, 130 S.Ct. 1418 (2010), ended a More...

SEC v. Tambone: SEC’s Effort to Expand Primary Liability Rejected

SEC v. Tambone  |  April 26, 2010

Sitting en banc, the First Circuit has rejected the SEC’s argument that Rule 10b-5(b) allows for primary liability for defendants’ “implied misrepresentations” to their customers. In SEC v. Tambone, 597 F.3d 436 (2010), the First Circuit focused on the meaning of the word “make” as used More...

Electronic Trading v. Banc of America: Federal Securities Laws Preclude Antitrust Laws re: Short Sale Litigation

Electronic Trading Group LLC v. Banc of America Securities LLC  |  February 26, 2010

The U.S. Court of Appeals for the Second Circuit dismissed a putative antitrust case relating to short sale transactions on the grounds that federal securities laws precluded the application of antitrust laws to short sale transactions. The case, Electronic Trading Group LLC v. Banc of America More...

Medical Mutual v. Indian Harbor: No D&O Coverage If Lawsuit Does Not Specifically Name Officer or Director

Medical Mut. Ins. Co. of Maine v. Indian Harbor Ins. Co.  |  January 15, 2010

The First U.S. Circuit Court of Appeals held that a company cannot recover from its D&O insurance carrier the cost of fighting lawsuits or administrative cases that allege wrongful director or officer acts but do not specifically name those individuals as defendants. In Medical Mut. Ins. Co. of More...

Florida Takes the Lead in Boosting State Securities Fraud Enforcement Rights

Florida Investor Protection Act of 2009  |  November 16, 2009

When Florida’s governor signed into law that state’s new Investor Protection Act, effective July 1, 2009, Florida took a new lead among states in enacting enhanced state rights to pursue, enforce, and regulate securities fraud within their geographic boundaries. While states have played a More...

In Re HealthSouth: Settlement Extinguishes Contract Rights of Non-settling Defendant

October 5, 2009

The U.S. Court of Appeals for the Eleventh Circuit extended the PSLRA further than any prior court, allowing the entry of a settlement bar order that extinguished a non-settling party’s contractual claims for indemnification and advancement of defense costs against a settling party. In In re More...

SEC v. Dorozhko: No Fiduciary Duty Required to Assert Insider Trading Violations Against Hacker

SEC v. Dorozhko  |  September 17, 2009

In a controversial decision that has had the blogosphere buzzing, the Second Circuit determined that a computer hacker who steals and uses material nonpublic information for his own profit might be liable for insider trading violations even if he has no fiduciary relationship with the company or More...

Warfield v. Alaniz: Charitable Gift Annuities Found to be Investment Contracts for Securities Law Purposes

August 24, 2009

With investors on red alert for Ponzi schemes, the 9th Circuit found that the sales of certain charitable gift annuities (“CGA’s”) were part of one such scheme, and that those CGAs constituted investment contracts subject to securities laws largely because they were marketed as an investment More...

Alaska Elec. v. Flowserve: Loosening the Loss Causation Standard to Revive Investors’ Fraud Claims

Alaska Electrical Pension Fund v. Flowserve Corp.  |  August 11, 2009

With the help of a former Supreme Court justice, the Fifth Circuit entered an important opinion in the continuing controversy among federal circuits regarding the standard for loss causation in securities fraud cases, perhaps foreshadowing an issue that will ultimately head to the Supreme Court. In More...

Page 1 of 4 of Securities Law Commentaries
 1 2 3 >  Last »
Advertise with LawUpdates.com

Companies Mentioned

Securities Law

The following companies are mentioned in Securities Law Updates:

Banc of America Securities LLC

Harris Associates, L.P.

The Public Employees’ Retirement System of Mississippi

Citigroup Inc.

Park East, Inc.

Citigroup Global Markets, Inc.

Jan Charles Finance S.A.

CIBC World Markets Corp.

Citicorp USA, Inc.

Torchmark Corp.

Suntrust Capital Markets, Inc.

UBS Financial Services, Inc.

The Cleaners & Caulkers Local 1 Pension Fund

Alex Brown, Inc.

SunTrust Bank

The Goldman Sachs Group, Inc.

KPMG Peat Marwick, LLP

ABN AMRO Inc.

Societe Generale

Morgan Stanley DW Inc.

Florida State Board of Administration

ABN AMRO Bank N.V.

SG Cowen Securities Corp.

Morgan Stanley & Co. Inc.

Guardian Capital Management

Staples, Inc.

Scotia Capital (USA), Inc.,

Merrill Lynch, Pierce, Fenner & Smith Inc.

Consolidated Management Group, LLC

Avaya, Inc.

Salomon Smith Barney Inc. n.k.a. Citigroup Global Markets, Inc.

Lehman Brothers Inc.

Consolidated Leasing Hugoton Joint Venture #2

Institutional Investors Group

Morgan Stanley & Co., Inc.

J.P. Morgan Securities Inc.

Consolidated Leasing Anadarko Joint Venture

Ameriprise Financial, Inc. f.k.a. American Express Financial Corp.

Mizuho International PLC

J.P. Morgan Chase & Co.

California Department of Corporations

RiverSource Investments, LLC

JPMorgan Securities Inc.

Goldman, Sachs & Co.

Tribune Company

RiverSource Balanced Fund f.k.a. AXP Mutual Fund

JPMorgan Chase & Co.

Goldman Sachs Execution & Clearing, L.P.

City of Philadelphia Board of Pensions and Retirement

RiverSource Precious Metals Fund f.k.a. AXP Precious Metals Fund

Additional Resources

Securities Law