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January 16, 2013 |

Supreme Court Holds XTO's Bonus Plan Protected by Business Judgment Rule

The Delaware Supreme Court has affirmed the Court of Chancery's dismissal of a lawsuit filed by an XTO Energy Inc. shareholder who alleged that the oil and gas company wasted corporate assets by not adopting a plan to make its executive bonuses tax-deductible. In reaching its decision, the high court held that XTO's decision not to adopt the plan was protected by the business judgment rule.
5 minute read
May 31, 2000 |

NYC Moves to Slash Cendant Fees

New York City submitted legal papers challenging as "astronomical" the $262 million fee request -- set under a court auction procedure -- submitted by the law firms that negotiated the record breaking $3.1 billion settlement in the Cendant securities class action case. The New York City pension fund contended the retainer negotiated by it and two other co-lead plaintiffs capped legal fees at $186 million.
4 minute read
June 16, 2003 |

Milberg Weiss:behind the breakup

Ask melvyn weiss or William Lerach why their firm-Milberg Weiss Bershad Hynes Lerach-will be split into East and West coast firms, and they'll say it's because the 200-lawyer operation is too difficult to manage.
7 minute read
December 15, 1999 |

Deal of the Week

2 minute read
November 18, 1999 |

A Landmark Ruling in Securities Law

The Network Associates stock-drop class action pending in San Francisco has already been marked by two influential California plaintiffs' firms trading charges of criminal acts and unethical behavior in their fight for control of the lucrative litigation. Even by the "no permanent friends, no permanent enemies" standards of securities litigation, the feud between Milberg Weiss Bershad Hynes & Lerach and Los Angeles' Weiss & Yourman is particularly nasty and noteworthy.
7 minute read
September 29, 2010 |

News In Brief

5 minute read
December 21, 1999 |

Ernst & Young Reaches $335 Mil. Settlement in Cendant Corp. Case

In the largest securities settlement ever paid by an accounting firm, Ernst & Young has agreed to pay $335 million to settle a class action suit brought by shareholders of Cendant Corp. that accused E&Y auditors of negligence for failing to detect widespread fraud at one of Cendant's predecessors. Combined with the $2.8 billion settlement with Cendant that was announced earlier this month, the E&Y settlement swells the pot to more than $3.16 billion.
3 minute read
March 25, 2008 |

Shift in Litigation Strategy Sends More Securities Cases to Trial

It used to be common for defendants accused of securities fraud to discount the threat of a jury trial. After all, as reported in the Sacramento Business Journal, back in 1962, most federal civil trials were tort cases.
8 minute read
September 25, 2006 |

Does High Court Mean the Buyer Must Beware in Securities Markets?

The Supreme Court decision in Dura Pharmaceuticals v. Broudo has spurred much commentary since it came down in April 2005. The court addressed the pleading requirements for loss causation in fraud-on-the-market cases under the Securities Exchange Act of 1934.
8 minute read
December 18, 2009 |

Are Stealth Financial Reporting Studies a Warning for Buyer to Beware?

In September 2006, this column ran a headline commenting on the Supreme Court decision in Dura Pharmaceuticals v. Broudo: "Does High Court Mean the Buyer Must Beware in Securities Markets?"
6 minute read

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