AMD 04-3056, 2007 WL 1354854 |
D.Md. | 5/8/2007
Holding: (1) A family trust, when grouping with other entities which, as a whole, passed on its plenary authority over its assets to an investment adviser, is not classified as a “investment company” under the provision of the Investment Company Act which prohibits an investment company from purchasing more than three…
More...
06-10353, 2007 WL 983082 |
11th Cir.(Ga.) | 4/6/2007
Holding: In reversing in part and in vacating in part the judgment of the US District Court for the Northern District of Georgia, the Court of Appeals, Eleventh Circuit, held that interests in registered limited liability partnerships (RLLPs) are classified as “investment contracts” that fall within the purview of federal securities…
More...
Ring v. AXA Financial, Inc. | DN 05-0616-cv, 2007 WL 1087261 |
U.S. Court of Appeals for the Second Circuit | 4/6/2007
Holding: In determining whether a particular product is a security requiring registration as well as in determining whether a plaintiff may maintain a class action suit under Rule 10(b) of the Security Exchange Act of 1934, which provision prohibits deception or misrepresentation in connection with the purchase and sale of securities,…
More...
05-4632, 2007, WL 1080426 |
C.A.7 (Ill.) | 4/12/2007
Holding: In a securities fraud suit, if it can not be established by the plaintiff that there exists “loss causation,” that is, the fact that the defendant's actions gave rise to the drop in value of the share price, then the action must be dismissed. Merely showing that shares were purchased…
More...
1658 (SRC), 2007 WL 1100820 |
D.N.J. | 4/12/2007
Holding: A securities fraud class action suit alleging that manufacturer committed misrepresentations or concealments about the safety of its drug was ordered dismissed upon motion by defendants on the ground that the investors’ claims were already barred by statute of limitations, and that for purposes of applying such statute, investors are…
More...
05 CIV. 1926 (RWS), 2007 WL 1149852 |
S.D.N.Y. | 4/14/2007
Holding: In granting in part and denying in part a motion to dismiss a securities fraud class action filed by a group of investors, the District Court held that the complaint: (1) sufficiently stated that the company committed a material misrepresentation by announcing that considerable costs savings had been extracted from…
More...
Fisher v. Kanas | 07-CV-0302 (ADS) (ETB), 2007 WL 1352713 |
U.S. District Court for the Eastern District of New York | 5/7/2007
Holding: In this class action suit alleging breach of fiduciary duty supposedly committed by executives of a company incorporated in Delaware, the District Court for the Eastern District of New York directed the dismissal of the suit, stating that four conditions must be satisfied in order to render applicable the Securities…
More...
06-2558, 2007 WL 1000751 |
E.D. Pa. | 3/31/2007
Holding: The District Court held that: (1) plaintiffs failed to plead privity with stock exchange's board of governors; (2) plaintiffs failed to properly plead the core misrepresentation of their claim; (3) generalized allegations against mutual stock exchange board members were insufficient to show the requisite “strong inference” of scienter; and (4)…
More...
2007 WL 966746 (N.Y.), |
2007 N.Y. Slip Op. 02791 | 4/26/2007
Holding: The Court held that the promissory notes fulfilled requirements of transferability, divisibility, and functional tests so as to qualify as investment securities for purposes of uniform commercial code (UCC).
More...
Secure Organization LoopsRun your practice without it running you
Document Management RoomTruly, your global office
One-Click CommunicationYour one-stop solution for staying connected
Color-Coordinated Note TaggingEasy on your practice, easy on you
Barcoding SystemRaising the bar on document filing
Search and RedactRedact inefficiency from your practice
Welcome to the Future