Discussion of Key Issues in Securities & Governance Litigation
I am grateful for the enthusiastic feedback I’ve received on my three-part blog post “Who is Winning the Securities Class Action War—Plaintiffs or Defendants?” I especially appreciate the time Kevin LaCroix took to write a post addressing my post in his leading blog, The D&O Diary.
With the benefit of 25 years’ experience…
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…
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…
By Doug Greene, Genevieve York-Erwin, Michael Tomasulo
I. Introduction
Small, development stage biotech companies are widely considered to be attractive targets for securities actions given the inherent risks of the industry and the volatility of their stock prices. As a result, many of these companies have relatively limited D&O insurance options. But are…
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…
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…
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 fifth of my “5 Wishes for Securities Litigation Defense” (April 30, 2016 post) is to move securities class action damages expert reports and discovery ahead of fact discovery. This simple change would allow the defendants and their D&O insurers to understand the real economics of cases that survive a motion to dismiss,…
In this installment of the D&O Discourse series “5 Wishes for Securities Litigation Defense,” we discuss the third of five changes that would significantly improve securities litigation defense: to make the Supreme Court’s Omnicare decision a primary tool in the defense of securities class actions.
As a reminder, in Omnicare, Inc. v. Laborers…
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…