Securities Law Blog Roundup

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

SECLaw.com:
 

The Securities and Exchange Commission today released its Strategic Plan for fiscal years 2022 to 2026, outlining agency objectives to fight against fraud, maintain a robust and relevant regulatory...
The Securities and Exchange Commission today charged Goldman Sachs Asset Management, L.P. (GSAM) for policies and procedures failures involving two mutual funds and one separately managed account s...

With only 4% of customer complaints being expunged, FINRA is bowing to pressure, presumably from the customer attorneys' bar, to again make it more difficult to remove false claims from a broker's ...

In addition to paying $810 million settlement to resolve a shareholder class action against Twitter Inc., it will have to pay an additional $182 million in attorneys fees, according to Reuters.


The ...

Business Law Professor:

Zhaoyi Li, Visiting Assistant Profoessor of Law at the Univeristy of Pittsburgh School of Law, has published a new article, Judicial Review of DIrectors' Duty of Care: A Comparison Between U.S. & C...
Yesterday, I taught my Corporate Finance students about public offerings (focusing on initial public offerings--IPOs) and exempt offerings of securities. The front end of this course focuses on the...
I highly recommend these podcasts from the ABA Business Law Section: VC Law: Episode 8: Capital Raising Considerations for Emerging Companies with Jose Ancer, author of Silicon Hills Lawyer and par...
The Federalist Society has posted a review of the oral argument in Mallory v. Norfolk Southern (here): Under Pennsylvania law, a foreign corporation “may not do business in this Commonwealth until ...
Look there are two massive business stories right now - FTX and Twitter - and I have worked very, very hard to avoid learning anything about crypto, so Twitter it is. Eventually there will be writi...

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.

What constitutes a “scheme” or “deceptive act” for purposes of liability under the antifraud provisions of the federal securities laws? Part of the difficulty in answering that question has been that Rule 10b-5 contains three separate subsections, which prohibit in connection with … Continue reading
Author: Lyle Roberts
Posted: September 26, 2022, 9:34 pm
NERA Economic Consulting and Cornerstone Research released their 2022 midyear reports on securities class action filings last month.  As usual, the different methodologies employed by the two organizations have led to slightly different numbers, although they both identify the same … Continue reading
Author: Lyle Roberts
Posted: September 23, 2022, 4:49 pm
Can allegations in a short seller report, even if the report’s issuance coincides with a stock price decline, form a basis for asserting loss causation?  In its 2020 decision in In re BofI Securities Lit., the U.S. Court of Appeals … Continue reading
Author: Lyle Roberts
Posted: July 7, 2022, 3:29 pm
Securities class actions based on corporate financial disclosures, which used to form the backbone of securities litigation, have been declining.  Instead, in recent years the plaintiffs’ bar has turned its focus to “event-driven” securities litigation, bringing securities class actions based … Continue reading
Author: Lyle Roberts
Posted: May 6, 2022, 10:07 pm
A key issue in securities fraud litigation is when, and under what circumstances, a company has a duty to tell investors about material corporate developments. In Weston Family Partnership LLP v. Twitter, 2022 WL 853252 (9th Cir. March 23, 2022), … Continue reading
Author: Lyle Roberts
Posted: April 8, 2022, 3:02 pm
NERA Economic Consulting and Cornerstone Research have released their respective 2021 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 same general … Continue reading
Author: Lyle Roberts
Posted: March 2, 2022, 1:58 am
SEC Rule 10b5-1, put into place in 2000, establishes that a person’s purchase or sale of securities is not “on the basis of” material nonpublic information if, before becoming aware of the information, the person enters into a binding contract, … Continue reading
Author: Lyle Roberts
Posted: January 7, 2022, 8:29 pm
In securities class actions, plaintiffs often take a shotgun approach and allege that the defendants made numerous false statements throughout the putative class period.  Whether that helps avoid dismissal, however, is an open question. In City of Plantation Police Officers Pension … Continue reading
Author: Lyle Roberts
Posted: November 28, 2021, 9:01 pm
A securities opinion written by Judge Easterbrook of the U.S. Court of Appeals for the Seventh Circuit is bound to be noteworthy.  And his latest effort – City of Taylor Police and Fire Retirement System v. Zebra Technologies Corp., 8 … Continue reading
Author: Lyle Roberts
Posted: October 1, 2021, 7:59 pm
A recent decision by the U.S. Court of Appeals for the Ninth Circuit offers potential lessons for both companies and their securities defense counsel.  In In re Alphabet, Inc. Sec. Lit., 1 F.4th 687 (9th Cir. 2021), the plaintiffs alleged that … Continue reading
Author: Lyle Roberts
Posted: August 5, 2021, 9:30 pm

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