By Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP
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 Securities LLC (aka In… More...
The analysis and conclusions reached by the California appellate court in Consolidated Management Group v. Dept. of Corporations, ___ Cal. Rptr. 3d___, 2008 WL 1850310 (Cal. App. 1st 2008), are not necessarily new. But rarely has an opinion so thoroughly and effectively laid out the prevailing law More...
In the precedent-setting case of Laperriere et al v. Vesta Ins. Group, et al, ____ F.3d ____, 2008 WL 1883482 (11th Cir. 2008), the 11th Circuit harmonized the proportionate liability scheme of the Private Securities Litigation Reform Act of 1995 (PSLRA) with the provisions of the Securities More...
In the case Magnolia Capital Advisors Inc. v. Bear Stearns, the 11th Circuit Court reversed a decision of the Northern District of Florida to order the parties to arbitration pursuant to their purported agreement. The 11th Circuit found that Magnolia had met the requirements set forth by court More...
The Tellabs tale really has two parts – part one is a Supreme Court decision, which ultimately remanded the case back to the 7th Circuit to apply its ruling, and part two is the subsequent 7th Circuit decision. The Supreme Court decision in Tellabs Inc. v. Makor Issues & Rights Inc., 127 S.Ct. More...
In Roth v. Jennings, 489 F.3d 499 (2nd Cir. 2007), the Second Circuit Court revisited the issue of pleading a “group” 1 for purposes of Section 13(d) of the Securities Exchange Act of 1934. The court reversed a district court’s dismissal of a plaintiff’s Section 16(b) claim seeking More...
While the cases of Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Dabit, 547 U.S. 71 (2006), Lander v. Hartford Life & Annuity Life Ins. Co., 251 F.3d 101 (2d Cir.2001), SEC v. Variable Annuity Life Ins. Co. of Am., 359 U.S. 65 (1959) (“VALIC”), and Fisher v. Kanas, 2007 WL 1352713 (E.D.N.Y.), More...
This case is a continuation of a line of jurisprudence that seeks to impose a strict limitation on the right of stockholders to initiate class action law suits in state courts. More...
In this case, the court considers whether there is a difference between a mutual fund investor and a direct investor in determining whether or not a securities action should be dismissed for failing to heed a storm warning. More...
