Last month, D&O insurance lawyer John McCarrick and D&O insurance executive Paul Schiavone published a guest post on Kevin LaCroix’s blog, The D&O Diary, titled “Is it Time to Revisit the Scope of D&O Coverage?” John and Kevin’s post has triggered response posts from four policyholder advocates: Kevin of RT ProExec (response
Plaintiffs' Bar
Can We Talk?
D&O Discourse’s 5th Anniversary
In my law practice, I defend particular clients in particular securities and governance cases. My mission is to get them through the litigation safely and comfortably.
But I’ve always had a broader interest in securities law and practice as well. After Congress passed the Private Securities Litigation Reform Act of 1995, I read and chronicled…
Who Is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part III)
This is the third of a three-part post that analyzes why plaintiffs are winning the securities class action war and what defendants can do about it.
At stake is a system of securities litigation that sets up one side or the other to win more cases in the long term. It has real-world consequences for…
Who is Winning the Securities Class Action War—Plaintiffs or Defendants? (Part II)
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?
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 I: Does the Reform Act Need Reforming?
The history of securities and corporate governance litigation is full of wishes about the law that we later regret (or will), or are happy were not granted. Many of these are not obvious—and some will surprise people. From certain case-by-case tactical decisions such as establishment of special litigation committees, to the (failed) attempt to abolish…
3 Key Securities Litigation Developments of 2016
By Doug Greene on
Posted in 2nd Circuit, 7th Circuit, 9th Circuit, Class Certification, Cyber Security, Defense Costs, Defense Counsel, Falsity Analysis, M&A Litigation, Motions to Dismiss, Plaintiffs' Bar, SEC, SEC Enforcement, Securities Class Action, Securities Class Action Statistics, Settlement, Statements of Opinion, Supreme Court
Following is an article I wrote for Law360, which gave me permission to republish it here:
Among securities litigators, there is no consensus about the importance of developments in securities and corporate governance litigation. For some, a Supreme Court decision is always supreme. For others, a major change in a legal standard is the most…
Lessons Learned in London
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…
Are We Headed into a Perfect Storm of Securities Class Action Filings?
The history of securities litigation is marked by particular types of cases that come in waves:
- the IPO laddering cases, which involved more than 300 issuers and their underwriters;
- the Sarbanes-Oxley era “corporate scandal” cases, which involved massive litigation against Enron, WorldCom, Tyco, Adelphia, HealthSouth, and others;
- the mutual fund market timing cases;
- the stock
…
The Decline of the Disclosure-Only Settlement: Will We Regret What We Wished For?
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. …