D&O Insurance

Who is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part II)

By Doug Greene on May 8, 2017

Posted in Class Certification, D&O Insurance, Defense Costs, Defense Counsel, Litigation Reforms, Litigation Strategy, Plaintiffs' Bar, Securities Class Action, Summary Judgment, Supreme Court

This is the second of a three-part post evaluating who is winning the securities class action war.

Part I explained that this war is not just a scorecard of wins and losses, but rather a fight for strategic positioning—about achieving a system of securities litigation that sets up plaintiffs or defendants to win more cases…

Who is Winning the Securities Class Action War—Plaintiffs or Defendants?

By Doug Greene on May 1, 2017

Posted in D&O Insurance, Defense Counsel, Litigation Reforms, Litigation Strategy, Plaintiffs' Bar, Safe Harbor, Scienter Analysis, Securities Class Action

The securities class action war is about far more than the height of the pleading hurdles plaintiffs must clear, the scorecard of motions to dismiss won and lost, or median settlement amounts. It is a fight for strategic positioning—about achieving a system of securities litigation that sets up one side or the other to win…

Be Careful What You Wish For, Part II: Would Companies Be Better Off Without the Fraud-on-the-Market Doctrine?

By Doug Greene on February 13, 2017

Posted in D&O Insurance, D&O Insurance Brokers, Fraud-on-the-Market Doctrine, Lead Plaintiffs, Litigation Reforms, Litigation Strategy, SEC Enforcement, Securities Class Action, Supreme Court

The villain in the fight against securities class actions is the fraud-on-the-market presumption of reliance established by the U.S. Supreme Court in 1988 in Basic Inc. v. Levinson, 485 U.S. 224 (1988). Without Basic, the thinking goes, a plaintiff could not maintain a securities class action, and without securities class actions, executives could…

Lessons Learned in London

By Doug Greene on November 30, 2016

Posted in Cyber Security, D&O Insurance, D&O Insurance Brokers, Defense Costs, Defense Counsel, Plaintiffs' Bar, Securities Class Action, Supreme Court

Earlier this month, I spent a week in the birthplace of D&O insurance, London. In addition to moderating a panel at Advisen’s European Executive Risks Insights Conference, I met with many energetic and talented D&O insurance professionals, both veterans and rising stars, to discuss U.S. securities litigation and regulatory risks. Themes emerged on some key…

The Decline of the Disclosure-Only Settlement: Will We Regret What We Wished For?

By Doug Greene on August 17, 2016

Posted in Corporate Governance, D&O Insurance, Defense Costs, Delaware Courts, Director Service, Litigation Reforms, M&A Litigation, Plaintiffs' Bar, Settlement

In combination with the Delaware Court of Chancery’s decision in In re Trulia, Inc. Stockholder Litigation, 129 A.3d 884 (Del. Ch. 2016), Judge Posner’s blistering opinion In re Walgreen Company Stockholder Litigation, 2016 WL 4207962 (7th Cir. Aug. 10, 2016), may well close the door on disclosure-only settlements in shareholder challenges to mergers. …

5 Wishes for Securities Litigation Defense: Greater Director Involvement in Securities Litigation Defense and D&O Insurance

By Doug Greene on July 18, 2016

Posted in Board Oversight, Corporate Governance, D&O Insurance, D&O Insurance Brokers, Defense Costs, Defense Counsel, Plaintiffs' Bar, Securities Class Action, Securities Class Action Statistics

One of my “5 Wishes for Securities Litigation Defense” (April 30, 2016 post) is greater involvement by boards of directors in decisions concerning D&O insurance and the defense of securities litigation, including defense-counsel selection. Far too often, directors cede these critical strategic decisions to management.

For most directors, securities litigation is a mysterious…

5 Wishes for Securities Litigation Defense: Greater Insurer Involvement in Defense-Counsel Selection and Strategy

By Doug Greene on May 31, 2016

Posted in Corporate Governance, D&O Insurance, Defense Costs, Defense Counsel, Litigation Strategy, Securities Class Action, Securities Class Action Statistics, Settlement

One of my “5 Wishes for Securities Litigation Defense” (April 30, 2016 post) is greater D&O insurer involvement in securities class action defense.

This simple step would have extensive benefits for public companies and their directors and officers. D&O insurers are repeat players in securities litigation, and they have the greatest economic interest…

5 Wishes for Securities Litigation Defense: A Defense-Counsel Interview Process in All Cases

By Doug Greene on May 13, 2016

Posted in Corporate Governance, D&O Insurance, D&O Insurance Brokers, Defense Costs, Defense Counsel, Falsity Analysis, Litigation Strategy, Motions to Dismiss, Scienter Analysis, Securities Class Action, Securities Class Action Statistics, Statements of Opinion

One of my “5 Wishes for Securities Litigation Defense” (April 30, 2016 post) is to require an interview process for the selection of defense counsel in all cases.

When a public company purchases a significant good or service, it typically seeks competitive proposals. From coffee machines to architects, companies invite multiple vendors to…

5 Wishes for Securities Litigation Defense

By Doug Greene on April 30, 2016

Posted in Board Oversight, Class Certification, Corporate Governance, D&O Insurance, Damages Analysis, Defense Costs, Defense Counsel, Falsity Analysis, Fraud-on-the-Market Doctrine, Litigation Reforms, Motions to Dismiss, Safe Harbor, Securities Class Action, Securities Class Action Statistics, Statements of Opinion, Supreme Court

I am committed to helping shape a system for securities litigation defense that helps directors and officers get through securities litigation safely and efficiently, without losing their serenity or dignity, and without facing any real risk of paying any personal funds.

But we are actually moving in the opposite direction of this goal, and unless…

Companies May Be Taking a Risk by Hiring Corporate Counsel to Defend Securities Class Actions

By Doug Greene on October 27, 2015

Posted in Corporate Governance, D&O Insurance, D&O Insurance Brokers, Defense Costs, Defense Counsel, Falsity Analysis, Scienter Analysis, Securities Class Action, Statements of Opinion

When a public company purchases a significant good or service, it typically seeks competitive proposals. From coffee machines to architects, companies invite multiple vendors to bid, evaluate their proposals, and choose one based on a combination of quality and cost. Yet companies named in a securities class action frequently fail to engage in a competitive…

Doug Greene

Doug is one of the most experienced and successful securities and governance litigators in the United States. He defends and counsels clients in securities class…

Doug is one of the most experienced and successful securities and governance litigators in the United States. He defends and counsels clients in securities class actions, shareholder derivative actions, shareholder challenges to mergers and acquisitions, SEC investigations, and internal investigations.

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