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Tag: Litigation
In Re Citigroup Inc. Shareholder Derivative Litigation, No. 3338-CC (Feb. 24, 2009)
February 24, 2009
Court Extends SOX Whistleblower Protections to Fund Advisers’ Employees
April 07, 2010
In March, a ruling by U.S. District Judge Douglas Woodlock in the U.S. District Court for the District of Massachusetts applied to mutual fund companies the provisions of the Sarbanes-Oxley Act protecting whistle-blowers. The ruling covers two cases filed by former Fidelity Management and Research… read more
PWC’s 2009 Securities Litigation Study
April 13, 2010
Last week, PWC issued its 2009 Securities Litigation Study, the firm's annual review of securities class action litigation. The report finds that the number of securities class action filings in 2009 declined markedly from that of 2008 (155 in 2009 versus 210 in 2008).… read more
Schwab YieldPlus Case Ends in Settlement
April 22, 2010
Short of the firm's May 10 trial date, The Charles Schwab Corporation has settled with plaintiffs in the consolidated cases related to the Schwab YieldPlus fund. In this class action suit, the plaintiffs alleged that the fund's registration statements and prospectuses contained untrue statements ,… read more
Supreme Court to Hear Fund Market Timing Case
July 07, 2010
The United States Supreme Court is about to step back into the mutual fund world by agreeing to hear arguments in a securities fraud class action case about prospectus disclosures and market-timing. The case is Janus Capital Group v. First Derivative Traders, on appeal… read more
Securities Litigation Update
July 13, 2010
Charles River Associates, a consulting firm tracking statistics and trends for the securities industry, has released its quarterly report on securities litigation statistics for Q! of 2010. The firm found that securities law suit filings are down for the first half of 2010 over 2009,… read more
Gibson Dunn’s Mid-Year Review of SEC Enforcement Activities
July 28, 2010
The Gibson Dunn law firm has published its 2010 Mid Year Securities Enforcement Update, summarizing the activities of the SEC's Division of Enforcement, and highlighting areas where the Division is focusing its efforts. The firm also tracks trends in enforcement, noting that the… read more
David Geffen on “When Fund Directors Get Sued”
September 15, 2010
Dechert Counsel, David Geffen, has published an article taking a look at what happens when fund directors are sued, and laying out some key things independent fund directors should know about fund litigation. Geffen looks at the most common types of fund litigation, excessive fees,… read more
ICI Files Friend of the Court Brief in Proxy Access Case
December 16, 2010
The Investment Company Institute (ICI), and it's affiliate, the Independent Directors Council, have submitted an amicus, or friend of court, brief in support of the Business Roundtable’s and the U.S. Chamber of Commerce’s lawsuit, which seeks to invalidate the proxy access rules adopted by… read more
February 1 NY Event: Litigation Facing Underwriters and Directors
January 24, 2011
On February 1, 2011 FTI Consulting in New York will hold the first installment of its free Breakfast Conference Series. This event will feature a discussion of litigation issues facing underwriters and directors stemming primarily from the effects of the economic downtown on corporate performance and… read more