The U.S. Supreme Court asked Elena Kagan last June to weigh in on the precedent-setting Second Circuit ruling that limited the jurisdiction of U.S. courts to hear claims by foreign investors who bought shares of foreign companies on foreign exchanges. Will the SG's brief sway the Court against granting cert in the case?

With just days to go before the first big hearing in the Manhattan state court proceedings to approve the groundbreaking deal, David Grais of Grais & Ellsworth is once again stirring the pot on behalf of disgruntled MBS investors.

Judge Kevin Castel produced a 140-page opus in denying big chunks of the bank's motion to dismiss in August. So it's not a big surprise that he didn't look very kindly on BofA's request that he take another crack at it.

Don't get too excited: Most of the money in the settlement will go to holders of U.S.-traded American Depository Shares. But for investors who bought Satyam shares overseas, a 90 percent discounted recovery is still better than nothing.

Years before the phrase "toxic assets" became a cliche, the shareholders of a mortgage company called Household International filed a class action in Chicago federal district court, alleging that Household had engaged in "a massive predatory lending scheme" that inflated the company's financials. The trial in the case begins this week.

There were precious few bright spots in the newly released Am Law 100 numbers. But speaking parochially, we're happy to report that what good news there was, came, in the main, from firms with strong litigation practices.

The same day Madoff liquidation trustee Irving Picard of Baker & Hostetler reached a $1 billion settlement with one of the Ponzi fraudster's biggest feeder funds, Manhattan federal district court judge Jed Rakoff eviscerated Picard's multibillion suits against HSBC and UniCredit SpA.

A state court judge in New York slammed plaintiffs lawyers for their conduct in a shareholder M&A class action and warned them not to bet on a big payday in the case.