Securities Law Updates / Securities Legal Updates and Legal Blog

Securities Law Updates

Featured Expert Legal Commentary

Matrixx Initiatives, Inc., et al. v. Siracusano: Securities Plaintiffs Can Use Inferences to Show Materiality and Scienter at the Pleading Stages

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

The United States Supreme Court has ruled that in securities cases under §10(b) and Rule 10b–5 the requirement of the materiality of a defendant’s misrepresentations cannot be reduced to a bright-line rule. Facts giving rise to a strong inference that a defendant acted with the required state of mind are… More...

More Securities Law Updates

Sort by:

Page 1 of 4 of Securities Law Commentaries

1 2 3 > Last »

Parkcentral Global v. Brown Investment: Hedge Fund Investors Are Entitled to Ownership Lists

Parkcentral Global L.P. v. Brown Inv. Management L.P. | December 27, 2010

The Delaware Supreme Court has ruled that hedge funds cannot hide behind federal privacy laws in refusing to disclose the identities of their investors. In Parkcentral Global L.P. v. Brown Inv. Management L.P., 1 A.3d 291 (Del. 2010), the Delaware Supreme Court held that federal privacy laws do not More...

Malack v. BDO Seidman: Rejecting the “Fraud-Created-The-Market” Theory of Reliance

Malack v. BDO Seidman, LLP | November 12, 2010

The U.S. Court of Appeals for the Third Circuit has rejected the use of the “fraud-created-the-market” theory of reliability for securities fraud claims. In Malack v. BDO Seidman, LLP, 617 F.3d 743 (3rd Cir. 2010), the Third Circuit upheld denial of class certification in a securities fraud More...

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

Pacific Investment Management Co. v. Mayer Brown | July 6, 2010

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 More...

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...

Page 1 of 4 of Securities Law Commentaries

1 2 3 > Last »