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Compare and Contrast - NERA Economic Consulting and Cornerstone Research (in conjunction with the Stanford Securities Class Action Clearinghouse) have released their 2010 midyear reports on securities class action filings. The different methodologies employed by the two organizations have led to different numbers, but ...
Feed Source: www.the10b-5daily.com

Artful Pleading - The scope of the Securities Litigation Uniform Standards Act ("SLUSA"), which precludes certain class actions based upon state law that allege a misrepresentation in connection with the purchase or sale of nationally traded securities, continues to be the subject of ...
Feed Source: www.the10b-5daily.com

The Reversal, The Affirmance, and The Remand - The U.S. Court of Appeals for the Ninth Circuit has been busy over the past few weeks. (1) In the Apollo Group case, the court reinstated the $277.5 million verdict obtained by the company's investors. The trial court, in a ...
Feed Source: www.the10b-5daily.com

PLI Briefing on National Australia Bank - The author of The 10b-5 Daily, Lyle Roberts (Dewey & LeBoeuf), is moderating a Practicing Law Institute audio webcast on the U.S. Supreme Court's recent National Australia Bank decision. The webcast will take place on Friday, July 9 at 1 ...
Feed Source: www.the10b-5daily.com

Supreme Court To Address Primary Liability - In what is shaping up to be a blockbuster term for securities litigation cases, the U.S. Supreme Court will address the issue of primary liability. On Monday, the Court granted cert (over the objection of the government) in the Janus ...
Feed Source: www.the10b-5daily.com

NAB Decided - In the Morrison v. National Australia Bank ("NAB") case, the U.S. Supreme Court has held that Section 10(b) of the Exchange Act applies only to transactions in securities listed on U.S. exchanges and to U.S. transactions in other securities. The ...
Feed Source: www.the10b-5daily.com

Supreme Court To Address Materiality - The U.S. Supreme Court is going to address the issue of materiality in securities fraud cases, albeit in the limited context of actions based on a drug company's nondisclosure of "adverse event" reports. Yesterday, the Court granted cert in the ...
Feed Source: www.the10b-5daily.com

Time Bombs - In Freudenberg v. E*TRADE Financial Corp., 2010 WL 1904314 (S.D.N.Y. May 11. 2010), the plaintiffs alleged that E*TRADE had fraudulently concealed the high risk nature and deterioration of the company's mortgage portfolio. The court's decision, which denies the defendants' motion ...
Feed Source: www.the10b-5daily.com

Whither Collective Scienter? - Under the collective scienter theory, it is possible for a plaintiff to adequately plead scienter with respect to a corporate defendant even where the plaintiff is unable to adequately plead scienter with respect to any individual corporate employee who made ...
Feed Source: www.the10b-5daily.com

Around The Web - A couple of items from around the web. (1) The D&O Diary has a helpful summary of the Senate Financial Reform Bill. For securities litigators, however, the bill is probably more notable for what it does not include. A proposed ...
Feed Source: www.the10b-5daily.com

Thorny Issues - Surprisingly, the U.S. Court of Appeals for the Second Circuit has never issued an opinion analyzing the PSLRA's safe harbor for forward-looking statements. It filled in that gap this week. In Slayton v. American Express Co., 2010 WL 1960019 (2d ...
Feed Source: www.the10b-5daily.com

Faulty Pleading - Two items about inaccurate complaints in securities class actions. (1) The Harvard Law School Forum on Corporate Governance and Financial Regulation has a post on a recent Second Circuit decision concerning confidential witnesses. In Campo v. Sears Holdings Corp., 2010 ...
Feed Source: www.the10b-5daily.com

Rejecting Creationism - The U.S. Court of Appeals for the Second Circuit has rejected creationism, at least when it comes to determining whether a secondary actor has "made" a statement for purposes of securities fraud liability. In Pacific Investment Management Co. LLC v ....
Feed Source: www.the10b-5daily.com

Maxim Integrated Products Settles - Maxim Integrated Products, Inc. (NASDAQ:MXIM), a Sunnyvale-based company that designs, develops, manufactures, and markets analog integrated circuits, has announced the preliminary settlement of the securities class action pending against the company in the N.D. of California. The case, originally filed ...
Feed Source: www.the10b-5daily.com

Merck Decided - In the Merck case, a unanimous U.S. Supreme Court (with two concurrences) has found that the investors' securities fraud claims are not barred by the statute of limitations. In making that determination, however, the Court has significantly changed the relevant ...
Feed Source: www.the10b-5daily.com

Announcing 2009 International Human Rights Award Recipient - The recipient of the Section of Litigations 2009 International Human Rights Award is Edwin Rekosh. The Award will be presented during the ABA's Annual Meeting in Chicago at The Fairmont Hotel on Friday, July 31, 2009. Learn more about Mr. Rekosh and the International Human Rights Award....
Feed Source: www.abanet.org

Justice Sandra Day O'Connor Addresses the Section of Litigation Concerning State Court Judicial Campaign Contributions and Disqualification - The Section of Litigation is pleased to present audio recordings of the Honorable Sandra Day O'Connor who spoke on January 9, 2009 in Scottsdale, AZ to a plenary gathering of Section members. Justice O'Connor led a panel discussion concerning state court judicial campaign contributions and disqualification, a subject of great interest to the legal community in light of Caperton v. Massey, currently pending before the United States Supreme Court and on which oral arguments were heard on March 2, 2009....
Feed Source: www.abanet.org

Can Email Create Personal Jurisdiction over a Foreign Defendant? - A recent Fourth Circuit Court of Appeals decision, finding that email and telephone communications are insufficient to establish personal jurisdiction over a foreign defendant in a lawsuit asserting tort and contract claims, is causing litigators to once again consider the importance of forum selection clauses....
Feed Source: www.abanet.org

Turning to the Internet for Savings on Legal Research Costs - As more legal content becomes freely available on the web, many lawyers find that the Internet provides a cost-effective alternative to traditional computer-based legal research services....
Feed Source: www.abanet.org

Federal Judges Try Again for Cost-of-Living Raises - AA suit pending in the United States Court of Federal Claims has revived the debate over the importance of salaries in protecting the quality of the federal judiciary....
Feed Source: www.abanet.org

Advanced Workshop for Corporate Counsel: How to Get the Best Out of Alternative Fee Arrangements - Tuesday, August 11, 2009. In this economic downturn, everyone is talking about alternative fee arrangements and how to get the best value from their outside law firms....
Feed Source: www.abanet.org

National Conference for the Minority Lawyer - September 24?25, 2009. Join us for the National Conference for the Minority Lawyer, sponsored by the ABA Business Law Section, ABA Section of Litigation and the Commission on Ethnic and Racial Diversity in the Profession....
Feed Source: www.abanet.org

2009 ABA Annual Meeting - July 30?August 2. The ABA Section of Litigation invites you to explore the professional learning and networking opportunities at the 2009 ABA Annual Meeting in Chicago....
Feed Source: www.abanet.org

Ten Practical Tips for Making Your Case Appealable - In the heat of battle at trial, it can be challenging to remember that the legal war may not end with the trial courts judgment. ...
Feed Source: www.abanet.org

Preparing for Your First Civil Trial, Part One: Where and How to Begin - Even if you have never tried a case?if all of your cases have settled after three long years of discovery?and you have no reason to believe the case before you will be any different, it?s time to change that mindset. You should think of every case as a trial case and start preparing for trial the first day you get the case....
Feed Source: www.abanet.org

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