By Michael W. Mitchell, Edward Roche and Derek Sutton | March 15, 2021
Statements and omissions arising from legitimate, subjective business judgments that allegedly become misleading only with the benefit of hindsight are insufficient to create the "strong inference" of intent necessary to satisfy the heightened standard for pleading a securities fraud claim.
New York Law Journal | Analysis
By Sarah Aberg and Chris Bosch | March 15, 2021
A discussion of §6501, "buried in" the the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 which authorizes the SEC to seek disgorgement of unjust enrichment within 10 years for certain securities law violations, and five years for others. The authors argue that while Congress may have intended the provision to "free the SEC from the limits imposed by two High Court decisions, a close reading of it reveals that the legislation fell short of its mark."
By Ross Todd | March 15, 2021
Liu and her colleagues recently released a white paper analyzing why the percentage of securities class actions targeting issuers based outside the U.S. jumped from 15% in 2019 to just over 27% last year even though the total number of securities suits was down.
By Jason Grant | March 12, 2021
China continued to be the leading location for non-U.S. issuers named as defendants in the lawsuits, the report said. More than half of the 88 non-U.S. issuer securities class action suits were filed in courts in the Second Circuit; the next most were filed in Third Circuit courts.
Daily Report Online | Commentary
By Andrew Mason | March 11, 2021
While there are some areas of securities enforcement that are likely to remain steady in the transition from the Trump administration to the Biden administration, some areas of enforcement are likely to see an uptick in enforcement actions.
By Mike Scarcella | March 9, 2021
Welcome to Compliance Hot Spots, our weekly snapshot on white-collar, regulatory and compliance news and trends. Thanks for reading! Let's jump in.
By Stephen Blake | March 2, 2021
Lawsuits related to special purpose acquisition companies will have many similarities to traditional securities and M&A litigation, but will also develop their own rubrics given the unique features of the SPAC model, writes Stephen Blake of Simpson Thacher & Bartlett.
By Stephen Blake | March 2, 2021
Observers anticipate a growing number of lawsuits related to SPACs over the next several years. These lawsuits will have many similarities to traditional securities and M&A litigation, but will also develop their own rubrics given the unique features of the SPAC model, says Stephen Blake of Simpson Thacher & Bartlett.
By Dan Roe | March 1, 2021
The San Diego firm's 2020 was an amalgam of prevailing trends in the Am Law 200: Layoffs in spring, a $5.5 million PPP loan, and surprisingly resilient clients that came through for a year of record revenue and 27% more income.
Delaware Business Court Insider
By Ellen Bardash | February 26, 2021
Superior Court Judge Eric M. Davis applied a broader definition of the insurance contract term "securities claim" that required coverage in a case over a challenge to a corporate spinoff and merger that was funded by debt instruments.
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