http://www.the10b-5daily.com/ News and events related to securities class action litigation. Containing all facts, with particularity, and an occasional dose of commentary. en-us the10b5daily@hotmail.com 2010-08-27T23:15:40-05:00 hourly 1 2000-01-01T12:00+00:00 http://www.the10b-5daily.com/archives/001096.html He's back. Judge Easterbrook has authored a new securities litigation decision for the U.S. Court of Appeals for the Seventh Circuit and, as always, it is interesting and contentious. In Schleicher v. Wendt, 2010 WL 3271964 (7th Cir. Aug. 20,... 1096@http://www.the10b-5daily.com/ Appellate Monitor 2010-08-27T23:15:40-05:00 http://www.the10b-5daily.com/archives/001095.html A trio of notable appellate decisions have been issued in the last ten days. (1) In In re Mercury Interactive Corp. Sec. Litig., 2010 WL 3239460 (9th Cir. Aug. 18, 2010), the court addressed the common settlement practice of requiring... 1095@http://www.the10b-5daily.com/ Appellate Monitor 2010-08-20T23:47:44-05:00 http://www.the10b-5daily.com/archives/001094.html There will be no new posts on The 10b-5 Daily until after August 16.... 1094@http://www.the10b-5daily.com/ 2010-08-07T00:01:16-05:00 http://www.the10b-5daily.com/archives/001092.html Thirteen former officers and directors of New Century Financial Corp., an Irvine, California-based mortgage finance company that collapsed in 2007, have agreed to the preliminary settlement of the securities class action pending against them in the C.D. of California. The... 1092@http://www.the10b-5daily.com/ Settlement 2010-08-06T23:35:55-05:00 http://www.the10b-5daily.com/archives/001093.html A couple of interesting items from around the web. (1) A former Grant & Eisenhofer ("G&E") attorney has sued the firm on behalf of Tyco investors. The suit alleges that G&E collected excessive fees for its role as lead counsel... 1093@http://www.the10b-5daily.com/ All The News That's Fit To Blog 2010-08-06T23:16:46-05:00 http://www.the10b-5daily.com/archives/001091.html The PMI Group, Inc. (NYSE: PMI), a Walnut Creek-based holding company that though its subsidiaries provides residential mortgage insurance and credit enhancement products, has announced the preliminary settlement of the securities class action pending against the company in the N.D.... 1091@http://www.the10b-5daily.com/ Settlement 2010-08-05T18:09:14-05:00 http://www.the10b-5daily.com/archives/001090.html NERA Economic Consulting and Cornerstone Research (in conjunction with the Stanford Securities Class Action Clearinghouse) have released their 2010 midyear reports on securities class action filings. The different methodologies employed by the two organizations have led to different numbers, but... 1090@http://www.the10b-5daily.com/ Lies, Damn Lies, And Statistics 2010-07-30T21:53:38-05:00 http://www.the10b-5daily.com/archives/001088.html The scope of the Securities Litigation Uniform Standards Act ("SLUSA"), which precludes certain class actions based upon state law that allege a misrepresentation in connection with the purchase or sale of nationally traded securities, continues to be the subject of... 1088@http://www.the10b-5daily.com/ Appellate Monitor 2010-07-23T19:39:17-05:00 http://www.the10b-5daily.com/archives/001087.html The U.S. Court of Appeals for the Ninth Circuit has been busy over the past few weeks. (1) In the Apollo Group case, the court reinstated the $277.5 million verdict obtained by the company's investors. The trial court, in a... 1087@http://www.the10b-5daily.com/ Appellate Monitor 2010-07-16T21:52:01-05:00 http://www.the10b-5daily.com/archives/001086.html The author of The 10b-5 Daily, Lyle Roberts (Dewey & LeBoeuf), is moderating a Practicing Law Institute audio webcast on the U.S. Supreme Court's recent National Australia Bank decision. The webcast will take place on Friday, July 9 at 1... 1086@http://www.the10b-5daily.com/ All The News That's Fit To Blog 2010-07-08T15:51:32-05:00 http://www.the10b-5daily.com/archives/001085.html In what is shaping up to be a blockbuster term for securities litigation cases, the U.S. Supreme Court will address the issue of primary liability. On Monday, the Court granted cert (over the objection of the government) in the Janus... 1085@http://www.the10b-5daily.com/ Appellate Monitor 2010-07-01T22:12:27-05:00 http://www.the10b-5daily.com/archives/001084.html In the Morrison v. National Australia Bank ("NAB") case, the U.S. Supreme Court has held that Section 10(b) of the Exchange Act applies only to transactions in securities listed on U.S. exchanges and to U.S. transactions in other securities. The... 1084@http://www.the10b-5daily.com/ Appellate Monitor 2010-06-25T23:49:13-05:00 http://www.the10b-5daily.com/archives/001083.html The U.S. Supreme Court is going to address the issue of materiality in securities fraud cases, albeit in the limited context of actions based on a drug company's nondisclosure of "adverse event" reports. Yesterday, the Court granted cert in the... 1083@http://www.the10b-5daily.com/ Appellate Monitor 2010-06-15T13:34:38-05:00 http://www.the10b-5daily.com/archives/001081.html In Freudenberg v. E*TRADE Financial Corp., 2010 WL 1904314 (S.D.N.Y. May 11. 2010), the plaintiffs alleged that E*TRADE had fraudulently concealed the high risk nature and deterioration of the company's mortgage portfolio. The court's decision, which denies the defendants' motion... 1081@http://www.the10b-5daily.com/ Motion To Dismiss Monitor 2010-06-11T23:30:53-05:00 http://www.the10b-5daily.com/archives/001080.html Under the collective scienter theory, it is possible for a plaintiff to adequately plead scienter with respect to a corporate defendant even where the plaintiff is unable to adequately plead scienter with respect to any individual corporate employee who made... 1080@http://www.the10b-5daily.com/ Motion To Dismiss Monitor 2010-06-04T22:59:42-05:00