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Florida State Board Of Administration

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Commentaries
Securities Law

Laperriere v. Vesta Insurance Case Defines the Scope of Controlling Party Liability
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 Exchange Act of…
Posted:
05/19/2008
Summaries
Securities Law >
New Judicial Opinions

11th Cir. Clarifies Parent Cos.’ Liability under the PSLRA in Vesta Insurance Case
This case presented what the Eleventh Circuit called “an issue of first impression in the circuit courts.”  Specifically, the issue was “whether and to what extent the proportionate liability scheme of section 21(D)(f) of the Securities Exchange Act of 1934 (the “Act”), enacted as part of the PSLRA, amends section…
Date of ruling:
04/30/2008