Searching Content by Joel Rothman ordered by Published Date Descending.
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Tenth Circuit Affirms Extraterritorial Reach Of SEC Enforcement Of The Federal Securities Laws
In the Traffic Monsoon litigation, the U.S. Court of Appeals for the Tenth Circuit held that the enforcement provisions of the Securities Act and the Exchange Act reach Traffic Monsoon's sales
United States
16 May 2019
Petition For Certiorari Asks Supreme Court To Clarify Whether The Federal Securities Laws Carry A Duty To Update
Last week, executives of the now-defunct biotechnology company, Orexigen, filed a petition for certiorari with the U.S. Supreme Court ...
United States
20 Feb 2019
Delaware Chancery Court Holds Corporations Cannot Enact Federal Forum Provisions To Bypass Cyan And Preclude State Courts From Hearing Securities Act Claims
In 2017, courts across this country were split on whether plaintiffs could assert a class action alleging claims under the Securities Act of 1933 (which provides a private right of action
United States
21 Jan 2019
Court Allows Volkswagen Bondholder Action To Proceed, But Expresses Doubts About The Plaintiff's Ability To Certify A Class
As we previously noted in this post, the United States District Court for the Northern District of California dismissed the Volkswagen Bondholder Plaintiff's first amended complaint ...
United States
10 Dec 2018
U.S. District Court Holds That Certain Claims By Opt-Out Plaintiffs Are Barred By The Statute Of Repose
In a recent ruling in In re: BP p.l.c. Securities Litigation the United States District Court for the Southern District of Texas dismissed claims asserted by opt-out plaintiffs as time barred by the Exchange Act's statute ...
United States
12 Oct 2018
Court Allows Volkswagen Bondholder Action To Proceed, But Expresses Doubts About The Plaintiff's Ability To Certify A Class
As we previously noted in this post, the United States District Court for the Northern District of California dismissed the Volkswagen Bondholder Plaintiff's first amended complaint, with leave to amend, ...
United States
4 Oct 2018
In Khoja, The Ninth Circuit Limits Defendants' Ability To Argue Facts In A Motion To Dismiss
In Khoja v. Orexigen Therapeutics, Inc., the Ninth Circuit clarified the "rare circumstances" when a court may review documents extraneous to the pleadings in ruling on a motion to dismiss.
United States
20 Sep 2018
Ninth Circuit Holds Transactions In Unsponsored Adrs Can Be "Domestic" Under Morrison
The Toshiba Securities Litigation stems from alleged violations of the Exchange Act, as well as the Financial Instruments and Exchange Act of Japan, against Toshiba Corp. ...
United States
21 Aug 2018
Special Master Recommends Return Of $10.6 Million In Attorneys' Fees To Class Members
Former U.S. District Judge Gerald Rosen, the Special Master appointed to investigate alleged improper billing by class plaintiffs' firms in Arkansas Teacher Retirement System v. State Street Bank and Trust Company.
United States
25 Jul 2018
Institutional Investors Must Remain Vigilant Of Limitations Deadlines In The Wake Of The Supreme Court's Holding In China Agritech v. Resh
The U.S. Supreme Court granted certiorari in China Agritech Inc. v. Resh, to determine whether "[u]pon denial of class certification, may a putative class member, in lieu of promptly joining an existing suit or ...
United States
12 Jun 2018
Volkswagen Bondholders Reliance Allegations Come Under Scrutiny
This case stems from alleged misstatement made by Volkswagen Group of America Finance ("VWGoAF") in an Offering Memorandum governing the issuance of three sets of bonds.
United States
29 May 2018
Canadian Court Limits Underwriters' Liability And Susceptibility To Class Treatment
The issuer and executives consented to class certification of the Section 130 claims against them.
United States
26 Mar 2018
Petrobras Court's Denial Of Plaintiffs' Request For Confidential Treatment Of Opt-Out Provisions Could Undermine The Settlement Process
On Tuesday, February 6, 2018, United States District Judge Jed S. Rakoff denied class counsel's request to file under seal three supplemental agreements ...
United States
16 Feb 2018
Recent Antitrust Settlements Are Providing New Recovery Opportunities, But Filing Claims Is Proving To Be Complicated
First there was Libor. Next came credit default swaps and foreign exchange. Now, highlighted by the over $2 billion settlement reached in the Foreign Exchange Antitrust Litigation, plaintiffs are pursuing...
United States
5 Feb 2018
Massachusetts Appeals Court Holds That Restrictive Covenants Created As Part Of A Common Scheme May Be Extended Beyond Thirty Years Only If Explicitly Allowed In The Original Instrument
On December 5, 2017, the Massachusetts Appeals Court issued an important decision in Berger v. 2 Wyndcliff, LLC, No. 16-P-336 (Mass. App. Ct. Dec. 5, 2017), clarifying the extent ...
United States
11 Dec 2017
Federal Court Grants Class Certification In The Lendingclub Case Over Objections From State Court Plaintiffs, But Denies Federal Court Plaintiff's Motion To Enjoin The State Court Case
LendingClub is facing two parallel securities litigation cases stemming from alleged false statements it made in connection with its initial public offering ("IPO").
United States
13 Nov 2017
Treasury Wine Decision Confirms Shift In Class Action Closure Process
Recently, in Melbourne City Investments Pty Ltd v. Treasury Wine Estates Limited, the Full Court of the Federal Court of Australia considered a primary judge's class closure order which broke new ground...
9 Oct 2017
Upcoming Supreme Court Cases Worth Noting By Institutional Investors
The U.S. Supreme Court‘s 2017 term begins October 2nd and we will be tracking at least three cases relevant to institutional investors
United States
20 Sep 2017
U.S. Supreme Court Holds That The Filing Of A Class Action Does Not Toll The Securities Act's Statute Of Repose
The issue in the case was whether the filing of a class action tolls the three-year deadline for class members to file a claim under the Securities Act.
United States
5 Jul 2017
Lending Club Decision Provides Guidance For Bringing Section 11 Claims Based On Weaknesses In Internal Controls
The Court's decision on defendants' motions to dismiss provides a roadmap for plaintiffs' bringing Section 11 claims based on failure to disclose weaknesses in internal controls.
United States
29 Jun 2017
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