The Securities and Exchange Commission today announced the appointment of Stephanie Allen as Director of Media Relations and Speechwriting, effective Oct. 1, 2023. Ms. Allen has served as Director ...
The Securities and Exchange Commission today announced it will highlight the importance of investor education and protection during World Investor Week (WIW) 2023, which takes place October 2-8. Ar...
The Securities and Exchange Commission, Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) today announced that registration is open for a virtual Com...
The Securities and Exchange Commission today announced that Charlotte-based Albemarle Corporation, a global specialty chemicals company, agreed to pay more than $103.6 million to settle the SEC’s c...
The Securities and Exchange Commission today charged Newell Brands Inc., a Georgia-based consumer products company and its former CEO, Michael Polk, with misleading investors about Newell’s core sa...
Dear BLPB Readers: On April 4, 2024, at 11:30am EST, the American Bar Association's Banking Law Committee's New Members Subcommittee will host "A 30-minute in-person and zoom meeting of the Banking...
A recent decision from Judge Andrew S. Hanen of the Southern District of Texas found that a pump and dump scheme could not be prosecuted as wire fraud. I'm trying to wrap my head around it and stru...
I have literally no idea if this is correct, I’m putting it forward as a set of facts that I think demonstrates the very complicated era we’re in from a corpgov perspective. Ike Perlmutter was fire...
Please note that the deadline for submission of proposals for the National Business Law Scholars Conference has been extended to April 1! The revised Call for Papers follows. I hope to see many of ...
Sometimes, the scholarly enterprise offers one the opportunity to deeply learn while sharing embedded knowledge. I never thought that my 2022 Southeastern Association of Law Schools discussion grou...
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.
NERA Economic Consulting and Cornerstone Research have released their respective 2023 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 trends. … Continue reading →
To establish loss causation in a securities class action does the company’s stock price have to decline immediately after the alleged corrective disclosure that revealed the truth to the market? In Shash v. Biogen, Inc., 84 F.4th 1 (1st Cir. 2023), the court … Continue reading →
Cornerstone Research has issued an interesting report on opt-outs in securities class action settlements (i.e., when a putative class member chooses not to participate in the settlement and may consider bringing its own direct action against the defendants). A few … Continue reading →
To what extent can plaintiffs commission an expert report based on public information and rely on it in their complaint to adequately plead securities fraud? The Ninth Circuit recently addressed this issue in E. Ohman J:or Fonder AB v. NVIDIA … Continue reading →
It would appear that the third time’s the charm, at least for Goldman Sachs in its long-running securities class action related to certain collateralized debt obligation (CDO) transactions. For the past several years, the key issue in the case has … Continue reading →
When faced with litigation, companies often publicly opine that the case is “without merit.” But if the company loses the litigation, can investors then bring a securities class action alleging that opinion was false? In City of Fort Lauderdale Police and … Continue reading →
When the U.S. Supreme Court issues a securities litigation opinion, it rarely is having the last word on the subject. Lower courts still have to interpret and apply the Court’s holding. Last month, a decision from the U.S. Court of … Continue reading →
Securities class actions involving Special Purpose Acquisition Companies (SPACs) can raise interesting issues. A SPAC is a publicly traded shell company created to merge with an existing privately held business so as to allow the target company to go public … Continue reading →
NERA Economic Consulting and Cornerstone Research have released their respective 2022 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 trends. … Continue reading →
To what extent should courts rely upon market analysts in determining the meaning of corporate statements? In Boykin v. K12, Inc., 2022 WL 17097453 (4th Cir. Nov. 22, 2022), the U.S. Court of Appeals for the Fourth Circuit considered this … Continue reading →
Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.
The information on this website is for general information purposes only and may be considered attorney advertising. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.