Securities Law Blog Roundup

Blog Roundup: The latest posts from securities law related blogs:

SECLaw.com:
 

The Securities and Exchange Commission today charged accounting firm Ernst & Young LLP (EY), one of its partners, and two of its former partners with improper professional conduct for violating...
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The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the....
The Securities and Exchange Commission today announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas real estate investment trusts (REITs), and his wholl...
The Securities and Exchange Commission today announced charges against Trevor R. Milton, the founder, former CEO and former executive chairman of Nikola Corporation, for repeatedly disseminating......
The Securities and Exchange Commission today charged Joshua L. Rupp of Michigan for engaging in securities fraud and for acting as an unregistered broker-dealer.  The SEC’s complaint, filed in...

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Business Law Professor:

STETSON UNIVERSITY COLLEGE OF LAW seeks to fill up to two entry-level tenure-track positions, with a possibility of a third visiting position. While our needs are flexible, we have a particular foc...
Hiring Announcement University of Detroit Mercy School of Law Tenure-Track Faculty Positions for 2022-2023 University of Detroit Mercy School of Law is seeking two to three entry-level, tenure-trac...
Mitchell Hamline School of Law--a leader in pedagogical innovation dedicated to expanding access to high-quality legal education--seeks candidates for five tenure-track/tenured faculty positions be...
I write to encourage applications to our Dean search. Business law profs are welcome at UT Law (given our business law center and clinics), but so are others! So, pass this on to folks you know who...
In the 1990s, newspapers had a problem. They wanted their articles to be included in electronic databases like LexisNexis, but such databases being a relatively new technology, the newspapers had n...

10b-5 Daily:

The 10b-5 Daily

News and events related to securities class action litigation. Containing all facts, with particularity, and an occasional dose of commentary.

The U.S. Supreme Court has issued a decision in the Goldman Sachs v. Arkansas case.  As predicted, it is a narrow opinion (a) clarifying that courts can and should take the generic nature of the alleged misstatements into account when … Continue reading
Author: Lyle Roberts
Posted: June 22, 2021, 1:36 am
The author of The 10b-5 Daily (Lyle Roberts) wrote an op-ed last year arguing that the Insider Trading Prohibition Act passed by the House of Representatives was severely flawed. The bill went to the Senate, but died from deserved inaction. … Continue reading
Author: Lyle Roberts
Posted: June 4, 2021, 4:17 pm
It has been over fifteen years since the U.S. Supreme Court’s decision in Dura Pharmaceuticals v. Broudo, where the Court held that plaintiffs in securities fraud cases must plead and prove loss causation. In the interim, the lower courts have … Continue reading
Author: Lyle Roberts
Posted: April 30, 2021, 5:29 pm
In 2005, the U.S. Supreme Court decided Dura Pharmaceuticals v. Broudo, where it held that plaintiffs in a securities fraud case must plead and prove that there was a causal connection between the alleged misrepresentations and the subsequent decline in … Continue reading
Author: Lyle Roberts
Posted: April 14, 2021, 2:02 pm
On Monday, the U.S. Supreme Court heard oral argument in the Goldman Sachs v. Arkansas case, which addresses issues related to class certification in securities cases. To certify a class on behalf of all investors who purchased shares during the … Continue reading
Author: Lyle Roberts
Posted: March 31, 2021, 5:24 pm
The 10b-5 Daily should have known better than to call a securities decision “rare.”  For the second time in a month, an applicant with the third-highest claimed damages has been appointed lead plaintiff in a securities class action.  The reasoning … Continue reading
Author: Lyle Roberts
Posted: March 18, 2021, 7:37 pm
Under the PSLRA, the presumptive lead plaintiff in a securities class action is the applicant with the “largest financial interest in the relief sought by the class.”  The largest financial interest is measured by assessing the approximate losses suffered and, … Continue reading
Author: Lyle Roberts
Posted: February 26, 2021, 9:35 pm
The U.S. Supreme Court is set to hear Goldman Sachs v. Arkansas next month (oral argument is scheduled for March 29).  The questions presented in the case are: (1) Whether a defendant in a securities class action may rebut the … Continue reading
Author: Lyle Roberts
Posted: February 12, 2021, 9:44 pm
NERA Economic Consulting and Cornerstone Research have released their respective 2020 annual reports on federal securities class action filings.  As usual, the different methodologies employed by the two organizations have led to slightly different numbers, although they both identify the … Continue reading
Author: Lyle Roberts
Posted: February 5, 2021, 5:30 pm
The U.S. Court of Appeals for the Ninth Circuit has issued a series of recent decisions on the pleading of loss causation, but if anything the court’s jurisprudence in this area is becoming more unclear. In Wochos v. Tesla, Inc., … Continue reading
Author: Lyle Roberts
Posted: February 3, 2021, 3:31 pm

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